Biohaven Ltd.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $635.1M | $795.9M | $373.3M | $437.1M | $181.5M |
| Operating expenses | — | — | — | $567.9M | $218.9M |
| Operating income | -$745.4M | -$885.1M | -$436.1M | -$567.9M | -$218.9M |
| Pretax income | -$737.4M | -$845.7M | -$409.6M | -$569.8M | -$212.4M |
| Income tax expense | $1.4M | $735,000 | -$1.4M | $438,000 | $1.4M |
| Net income | -$738.8M | -$846.4M | -$408.2M | -$570.3M | -$213.8M |
| Balance Sheet | |||||
| Cash and equivalents | $230.0M | $99.1M | $248.4M | $204.9M | $76.1M |
| Current assets | $368.3M | $538.5M | $442.4M | $587.0M | $94.8M |
| Total assets | $451.4M | $615.1M | $513.2M | $661.8M | $142.1M |
| Current liabilities | $115.9M | $154.2M | $55.4M | $90.0M | $41.9M |
| Total liabilities | $399.4M | $191.7M | $85.2M | $123.0M | $47.4M |
| Stockholders' equity | $52.1M | $423.4M | $428.0M | $538.8M | $34.7M |
| Cash Flow Statement | |||||
| Cash from operations | -$609.4M | -$582.5M | -$331.7M | -$297.7M | -$145.8M |
| Depreciation and amortization | $9.9M | $7.9M | $6.9M | $1.4M | $1.4M |
| Stock-based compensation | $112.4M | $72.0M | $28.8M | $193.6M | $65.6M |
| Capital expenditure | $715,000 | $4.0M | $3.0M | $6.1M | $938,000 |
| Free cash flow | -$610.2M | -$586.5M | -$334.8M | -$303.8M | -$146.8M |
Shares outstanding 150.6M · Free float 99.9%
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.