---
schema_version: "secwatch.filing_event.v1"
accession: "0001935979-26-000022"
form_type: "8-K"
ticker: "BHVN"
cik: "0001935979"
company_name: "Biohaven Ltd."
filed_at: "2026-03-02T23:59:59+00:00"
generated_at: "2026-05-15T22:48:36.531620+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Biohaven reports Q4 loss $145.6M, prioritizes three late-stage programs, raises $178.9M

## Summary
- Q4 net loss $145.6M ($1.21/sh); non-GAAP adj. net loss $107.9M ($0.90/sh).
- Cash, equivalents, securities $322M at year end; raised $178.9M via 17.2M share issuance.
- Pivotal trial for IgAN degrader BHV-1400 starts Q1 2026; Graves' degrader BHV-1300 pivotal in 2H 2026.
- Opakalim OLE: >50% seizure reduction in most on 75mg at 6 months; pivotal data due 2H 2026.
- Taldefgrobep Phase 2 obesity initiated Q4 2025; topline results expected 2H 2026.

## SEC filing metadata
- accession: 0001935979-26-000022
- form_type: 8-K
- ticker: BHVN
- cik: 0001935979
- company_name: Biohaven Ltd.
- filed_at: 2026-03-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1935979/000193597926000022/0001935979-26-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1935979/000193597926000022/bhvn-20260302.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001935979-26-000022
- JSON: https://secwatch.observer/filing/0001935979-26-000022.json
- Plain text: https://secwatch.observer/filing/0001935979-26-000022.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.