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Biohaven Pharmaceutical Q2 net loss $211.1 million

Christian Fernsby ▼ | January 14, 2020
Biohaven Pharmaceutical Holding Company reported financial results for the second quarter ended June 30, 2019.
Biohaven Pharmaceutical
Biohaven Pharmaceutical   Biohaven Pharmaceutical cash was $465.7 million
Biohaven Pharmaceutical reported a net loss attributable to common shareholders for the three months ended June 30, 2019 of $211.1 million, or $4.67 per share, compared to $39.3 million, or $1.01 per share for the same period in 2018.

Topics: Biohaven Pharmaceutical

Biohaven Pharmaceutical net loss per share, adjusted to remove the effects of the $105.0 million one-time payment for the PRV in April 2019 was $2.35 per share for the three months ended June 30, 2019.

Biohaven Pharmaceutical cash as of June 30, 2019, was $465.7 million, compared to $217.4 million as of March 31, 2019.

This increase was primarily due to net proceeds of approximately $281.1 million from the Company's June common share offering.

Subsequent to June 30, 2019, Biohaven Pharmaceutical received additional net proceeds of $21.2 million from the underwriters of the follow-on offering who partially exercised their option to purchase additional shares.

The increase in personnel related costs, including non-cash share-based compensation, was a result of additional options issued and hiring additional research and development personnel.

Biohaven Pharmaceutical headcount, in research and development, increased to 47 as of June 30, 2019, compared to 30 as of June 30, 2018.

Non-cash share-based compensation expense was $10.3 million for the three months ended June 30, 2019, an increase of $7.5 million as compared to the same period in 2018.


 

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