Overview

• Biohaven reports Q3 net loss of $173.4 mln, operating expenses at $169.4 mln

• Company initiates strategic cost optimization to reduce annual direct R&D spend by 60%

• Biohaven focuses resources on late-stage programs for epilepsy, depression, and immune diseases

Outlook

• Biohaven expects top-line results from Opakalim Phase 2 study in depression in 4Q 2025

• Company plans to initiate Phase 2 trial for Taldefgrobep alfa in obesity in 4Q 2025

• Biohaven aims to reduce annual direct R&D spend by approximately 60%

Result Drivers

• COST OPTIMIZATION - Biohaven initiated strategic cost optimization to focus on late-stage clinical programs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Biohaven Ltd is $27.00, about 69.4% above its November 7 closing price of $8.26

Press Release: ID:nPn8ktwCsa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)