| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net loss | -593,267 | -419,824 |
| Depreciation and amortization | 7,349 | 4,224 |
| Non-cash share-based compensation | 95,409 | 73,874 |
| Issuance of common shares as payment for acquisition of ipr&d asset | 0 | 0 |
| Issuance of common shares as payment under license and other agreements | 4,844 | 4,844 |
| Fair value of forward contract and derivative liabilities under license agreement | 0 | 0 |
| Change in fair value of forward contract and derivative liabilities | 11,274 | 7,314 |
| Issuance of warrant under license agreement | 0 | 0 |
| Change in fair value of notes payable | -12,390 | -1,190 |
| Other non-cash items, net | 5,409 | 4,247 |
| Prepaid expenses and other current and non-current assets | 5,284 | 11,781 |
| Accounts payable | -538 | 1,599 |
| Accrued expenses and other current and non-current liabilities | 17,004 | 24,375 |
| Net cash used in operating activities | -478,776 | -333,060 |
| Proceeds from maturities of marketable securities | 495,000 | 330,000 |
| Purchases of marketable securities | 178,144 | 178,144 |
| Purchases of property and equipment | 707 | 694 |
| Other investing activities | 1,849 | 1,829 |
| Net cash provided by (used in) investing activities | 314,300 | 149,333 |
| Proceeds from issuance of notes payable | 250,000 | 250,000 |
| Proceeds from issuance of common shares | 0 | 0 |
| Payment of issuance costs | 1,247 | 1,247 |
| Proceeds from equity incentive plan | 1,568 | 1,446 |
| Other financing activities, net | 0 | 0 |
| Net cash provided by financing activities | 250,321 | 250,199 |
| Effects of exchange rates on cash, cash equivalents, and restricted cash | -3 | -17 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 85,842 | 66,455 |
| Cash and cash equivalents at beginning of period | 102,542 | - |
| Cash and cash equivalents at end of period | 188,384 | - |
Biohaven Ltd. (BHVN)
Biohaven Ltd. (BHVN)