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Biohaven BHVN Business Segments — Direct R&D program expense

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Other financials

Income statement

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Operating income-$130.4M+41.1%
Net income-$130.5M+41.1%
EPS (diluted)-$0.88+59.4%

Balance sheet

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Cash & equivalents$277.1M+170%
Total debt$286.2M+706%
Total equity$129.5M-50.1%
Total assets$466.4M+1.6%

Cash flow

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Operating cash flow-$149.9M+9.2%
CapEx--100%
Free cash flow-$149.9M+9.5%

Valuation

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Market cap$2.17B+41.2%
Enterprise value$2.18B+31.3%

Returns & leverage

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Return on equity-333%+17.9pp
Debt / equity2.2×+2.1×
Current ratio7.4×+5.1×

Where this comes from

Reported directly by Biohaven in its filing.

Tagged under the XBRL concept bhvn:ResearchAndDevelopmentProgramExpense.

The source filing: Biohaven’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 4:07 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001935979-26-000045
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Direct R&D program expense
BHV-4157 (Troriluzole)$6,922$13,788
BHV-2000 (Taldefgrobep Alfa)9,3326,184
BHV-7000 & BHV-7010 (Kv7)19,73231,573
BHV-2100 & BHV-2110 (TRPM3 Antagonist)(205)16,748
BHV-8000 (TYK2/JAK1)5,1704,373
BHV-1300 (IgG Degrader)1,1428,621
BHV-1310 (IgG Degrader)(34)1,074

Item 1. Unaudited Condensed Consolidated Financial Statements

FAQ

What is Biohaven's business segments — direct R&D program expense?
Biohaven (BHVN) reported business segments — direct R&D program expense of $19.73M in Q1 2026.
How has Biohaven's business segments — direct R&D program expense changed year-over-year?
Biohaven's business segments — direct R&D program expense decreased by 37.5% year-over-year, from $31.57M to $19.73M.
What is the long-term trend for Biohaven's business segments — direct R&D program expense?
Over 3 years (2022 to 2025), Biohaven's business segments — direct R&D program expense has grown at a -4.4% compound annual growth rate (CAGR), from $131.96M to $115.27M.
What does business segments — direct R&D program expense mean?
Represents the direct costs associated with specific clinical-stage research and development programs within the reportable business segment. This metric captures the capital allocated to advancing therapeutic candidates through the clinical trial pipeline. Monitoring this helps investors assess the company's commitment to its core drug development initiatives.

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