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Earnings Alert: Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN)

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Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) reported change of -2.15% to $32.79 with the recent traded volume of 157245 shares in most recent trading session compared to an average volume of 391.65K. The stock was down over last five days period with -5.97%. The one month performance of stock was -12.26%. BHVN shares are at 10.14% for the quarter and driving a 34.33% return over the course of the past year and is now at 21.53% since this point in 2018.  The Company has earnings of $ -201.90M and made $6.60 sales for the last 12 months.

Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN), a clinical-stage biopharmaceutical company with a portfolio of innovative, late-stage product candidates targeting neurological diseases, including rare disorders, today announced financial results for the quarter ended June 30, 2018, and provided a review of recent accomplishments and anticipated milestones.

Second Quarter and First Half 2018 Financial Results

Cash Position:  Cash as of June 30, 2018, was $217.5 million, compared to $104.2 million as of March 31, 2018. This increase primarily reflects the net proceeds of approximately $149.6 million from the Company’s transaction with Royalty Pharma, offset by payments for operating expenses during the quarter.

Research and Development (R&D) Expenses:  R&D expenses for the three and six months ended June 30, 2018, were $29.1 million and $104.6 million, respectively, compared to $21.0 million and $31.8 million for the same periods in 2017.

The increase of $8.0 million for the three months ended June 30, 2018, was primarily due to increases in direct costs of $7.0 million for the rimegepant program, and an increase of personnel costs, including non-cash share-based compensation, of $2.4 million.

The increase of $72.9 million for the six months ended June 30, 2018, was primarily due to the upfront payment of $50.0 million related to the amendment of the Company’s license agreement with Bristol-Myers Squibb Company (BMS) during the first quarter of 2018, increases in direct costs of $19.3 million for the rimegepant program and $1.7 million for the BHV-0223 program, and an increase of personnel costs, including non-cash share-based compensation, of $4.2 million.

The increases in direct costs for the rimegepant program for the three and six months ended June 30, 2018, were primarily due to an increase in the number of clinical trials, in various stages of development, as compared to the same periods in 2017

General and Administrative (G&A) Expenses:  G&A expenses for the three and six months ended June 30, 2018, were $9.1 million and $16.9 million, respectively, compared to $4.2 million and $8.0 million for the same periods in 2017.

The increases of $4.9 million and $9.0 million for the three and six months ended June 30, 2018, respectively, were primarily due to increases in personnel-related costs, including non-cash share-based compensation, due to the hiring of additional personnel in the general and administrative functions, preparation for commercialization activities, professional fees supporting ongoing business operations and additional fees to comply with being a public company.

Net Loss:  The Company reported a net loss attributable to common shareholders for the three and six months ended June 30, 2018 of $39.3 million, or $1.01 per share, and $124.7 million, or $3.29 per share, respectively, compared to $46.4 million, or $1.78 per share, and $69.2 million, or $3.54 per share for the same periods in 2017.

BHVN is 7.08% upward its 200-day moving average. On a similar note, the stock is -13.06% above its 50-day moving average. The average volatility for the week and month was at 4.14% 4.31% respectively. The company holds 40.32M shares outstanding and 23.18M shares are floated in market.

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