BHVN · Biohaven Ltd.

📣 What BHVN Says Is Next

• coming weeks · “BHV7000-302 will also continue dosing but new enrollment is paused pending nonclinical data that is expected in the coming weeks to further elucidate findings related to this metabolite that have uncertain significance in humans.”
  Company press release, Sep 10, 2026 · SEC filing
• second half of 2026 · “Dosing continues in BHV7000-303 and topline data remain on track for the second half of 2026.”
  Company press release, Sep 10, 2026 · SEC filing
• 2H 2026 · “Opakalim, the lead candidate from Biohaven's Kv7 platform, is a next-generation, selective Kv7.2/7.3 potassium channel activator currently in Phase 2/3 development for focal epilepsy, with topline results from the RISE3 trial expected in 2H 2026.”
  Company press release, Aug 26, 2026 · SEC filing

Quoted word for word from the company's press releases filed with the SEC. Timing is the company's own guidance, not a BioRadar estimate.

🧪 Trial & FDA Catalysts

• Nov 2026 · Phase 1 · Enrolling · A Phase 1b Study of BHV-7000 in Participants With Inherited Erythromelalgia
  Registry primary completion date, not a results date
• Dec 2026 · Phase 2/3 · Active Trial · A Study to Determine if BHV-7000 is Effective and Safe in Adults With Refractory Focal Ons
  Registry primary completion date, not a results date
• Dec 2026 · Phase 2 · Enrolling · Long-term Safety and Tolerability of BHV-7000
  Registry primary completion date, not a results date
• Jul 2027 · Phase 1 · Recruiting · Study of BHV-1400 in IgA Nephropathy
  Registry primary completion date, not a results date
• Aug 2027 · Phase 2/3 · Recruiting · A Study to Determine if BHV-8000 is Effective, Safe and Tolerable as a Treatment for Adult
  Registry primary completion date, not a results date
• Sep 2027 · Phase 1 · Recruiting · Study of BHV-1300 in Graves' Disease
  Registry primary completion date, not a results date

📊 Drug Pipeline

Also used in these trials (approved or third-party drugs, not BHVN's own candidates): Temozolomide, Regorafenib, Lomustine, Cemiplimab, Ipilimumab, Nivolumab, Riluzole.

Source: ClinicalTrials.gov trials sponsored by the company, one row per candidate at its most advanced registered trial. FDA approvals: Drugs@FDA. Wrong or missing drug? Report it

💰 Cash Runway & Dilution Risk

BHVN holds $372.4M in cash and short-term investments (as of Jun 30, 2026) and burns about $117.5M/quarter from operations, an estimated runway of 9.5 months at that rate (BioRadar estimate, not company guidance).

Dilution pressure: 69 · High

• Cash runway 10 months +30
• ATM program on file since May 2026 +15
• Shelf registration (S-3ASR, May 2026) +10
• Share count +43% in a year +14

Recent financing filings on SEC EDGAR:

• May 4, 2026 · Shelf registration · S-3ASR
• May 4, 2026 · ATM program, up to $350M · 424B5
• Nov 12, 2025 · Underwritten offering · 424B5
• Oct 1, 2024 · Underwritten offering, $250M · 424B5
• Sep 30, 2024 · Underwritten offering · 424B5
• Aug 16, 2024 · ATM program, up to $300M · 424B5

Source: SEC EDGAR (XBRL cash flow and financing filings). Dilution Watch: every company ranked → · Get an alert when BHVN files for a raise →

👥 Who Owns BHVN

Share count 151,043,781 (latest 10-Q/10-K). Insiders: each officer's, director's and 10% owner's latest Form 3, 4 or 5, direct and indirect shares; options are not counted. 5%+ holders: latest Schedule 13D or 13G of each holder above 5%. Institutions: the total held by all 13F filers (Yahoo Finance); the table lists the largest (13F quarter ending 2026-06-30). Sources have different dates, so the split is approximate. Source: SEC EDGAR.

📈 Recent Insider Activity (Form 4)

Only open-market purchases (P) and sales (S) are trading decisions. Awards (A), option exercises (M) and tax withholding (F) are compensation mechanics. Source: SEC Form 4.

📅 Past FDA Decisions & Stock Reactions

Browse all historical PDUFA outcomes →