Biohaven reports Q2 net loss $198M, cash $408.2M; OCD trial fails, VYGLXIA PDUFA in Q4 2025

Biohaven Ltd.

2025-Q2 EPS reported -$4.11

Net loss of $198.1M ($1.94 per share) vs $319.8M in Q2 2024; no revenue, clinical-stage biopharma.
Cash, equivalents and marketable securities $408.2M as of June 30, 2025.
Phase 3 OCD trial with troriluzole showed no efficacy signal; program terminated.
VYGLXIA NDA for spinocerebellar ataxia under priority review, PDUFA in Q4 2025.
Early clinical data: BHV-1300 IgG reductions up to 87%, BHV-1510 ADC showed tumor reduction in first 6/6 patients with cemiplimab.

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