Biohaven Ltd (BHVN)

Focal Epilepsy · registered primary completion 2026-10-01 · NCT06309966

Published 2026-09-02Market cap $2,328M8 sourced statements

Study to Determine if BHV-7000 is Effective and Safe in Adults With Refractory Focal Onset Epilepsy · PHASE2,PHASE3 · n=390 · active not recruiting

What this sheet is scored on

call

Cash of $268M against operating outflow of $159M per quarter gives roughly 1.7 quarters of runway, clearing the readout 0.4 quarters out but leaving under a year. On these figures the company raises capital within four quarters.

Source: 10-Q filed 2026-08-10

Market

fact

No approved product carries Focal Epilepsy on label.

Source: FDA label index

Trial registry

fact

Registered design for NCT06309966: randomized, quadruple-masked, 390 participants (estimated). Primary outcome: Change from Baseline in 28-day average seizure frequency.

Source: ClinicalTrials.gov record

Share count and dilution

fact

151,043,781 shares outstanding against 172,318,894 if every outstanding option, warrant and convertible were exercised. In that case 12.4% of a gain in enterprise value would accrue to those holders rather than to current shareholders.

Source: antidilutive-securities disclosure, 10-Q filed 2026-08-10

fact

Share count up 43% year over year to 151,043,781 as of 2026-08-06.

Source: cover-page share counts (XBRL)

Regulatory

fact

Designations disclosed: Fast Track, Orphan Drug, Priority Review Voucher. These accelerate review and, for Orphan, confer exclusivity if approved; none is evidence of efficacy.

Source: 10-Q filed 2026-08-10

Pipeline

fact

7 distinct molecules in 12 active company-sponsored trials; BHV-7000 accounts for 8 of them at Phase 1/Phase 2/Phase 3.

Source: ClinicalTrials.gov, company as lead sponsor

Ownership and proceedings

fact

Directors and executive officers as a group hold 13.8%.

Source: DEF 14A filed 2026-03-13

Don't see a name? Request a sheet. Any US-listed biotech with a Phase 3 or a pending FDA decision — it gets built the same way, from the filings.

This sheet is dated and will not be edited. When the registered primary completion passes, its outcome is recorded on the scoreboard and a new dated sheet is published if the filings change materially.