For the quarter ending 2026-03-31, BHVN had $44,326K increase in cash & cash equivalents over the period. -$149,918K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Acquisition of ipr&d asset | - | 0 | 0 | 0 |
| Net loss | -130,532 | -145,555 | -173,443 | -419,824 |
| Depreciation and amortization | 2,366 | 2,573 | 3,125 | 4,224 |
| Non-cash share-based compensation | 28,286 | 16,952 | 21,535 | 73,874 |
| Issuance of common shares as payment under license and other agreements | 858 | 0 | 0 | 4,844 |
| Obligation to issue common shares as payment for license agreements and other arrangements | - | 0 | - | - |
| Fair value of forward contract and derivative liabilities under license agreement | - | 0 | 0 | 0 |
| Change in fair value of forward contract and derivative liabilities | 0 | -20,700 | 3,960 | 7,314 |
| Issuance of warrant under license agreement | - | 0 | 0 | 0 |
| Change in fair value of notes payable | 3,012 | 3,690 | -11,200 | -1,190 |
| Other non-cash items, net | 837 | -5,583 | 1,162 | 4,247 |
| Prepaid expenses and other current and non-current assets | -12,564 | -8,815 | -6,497 | 11,781 |
| Accounts payable | -1,221 | -5,848 | -2,137 | 1,599 |
| Accrued expenses and other current and non-current liabilities | -64,414 | -12,792 | -7,371 | 24,375 |
| Net cash used in operating activities | -149,918 | -130,662 | -145,716 | -333,060 |
| Proceeds from maturities of marketable securities | 35,000 | 75,000 | 165,000 | 330,000 |
| Proceeds from sales of marketable securities | - | 0 | - | - |
| Purchases of marketable securities | 19,788 | 88,731 | 0 | 178,144 |
| Purchases of property and equipment | 0 | 8 | 13 | 694 |
| Cash acquired from acquisition of ipr&d asset | - | 0 | - | - |
| Other investing activities | - | 0 | 20 | 1,829 |
| Net cash provided by investing activities | 15,212 | -13,739 | 164,967 | 149,333 |
| Change in restricted cash due to former parent | - | 0 | - | - |
| Proceeds from issuance of notes payable | - | 0 | 0 | 250,000 |
| Proceeds from issuance of common shares | 178,884 | 189,175 | 0 | 0 |
| Payments of issuance costs | - | 450 | 0 | 1,247 |
| Proceeds from equity incentive plan | - | - | 122 | 1,446 |
| Proceeds from issuance of common shares under 2022 equity incentive plan | 132 | 1,833 | - | - |
| Other financing activities, net | 0 | -194 | 0 | 0 |
| Net cash provided by financing activities | 179,016 | 188,796 | 122 | 250,199 |
| Effects of exchange rates on cash, cash equivalents, and restricted cash | 16 | 0 | 14 | -17 |
| Net increase in cash, cash equivalents, and restricted cash | 44,326 | 44,395 | 19,387 | 66,455 |
| Cash, cash equivalents, and restricted cash at beginning of period | 232,779 | 188,384 | 102,542 | - |
| Cash, cash equivalents, and restricted cash at end of period | 277,105 | 232,779 | 188,384 | - |
Biohaven Ltd. (BHVN)
Biohaven Ltd. (BHVN)