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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Biohaven
Biohaven (BHVN) investor relations material
Biohaven Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Strategic reprioritization focused investment on Kv7, MODE/TRAP degraders and myostatin programs; Q3 operating expenses and net loss declined YoY.
Ono and SKBP out-licenses provide upfront payments and potential milestones and royalties, subject to contractual conditions and closing.
Financial highlights
Q3 2026 operating expenses were $126.4M vs. $169.4M YoY; GAAP net loss was $129.3M vs. $173.4M, and EPS was $(0.86) vs. $(1.64).
Q3 adjusted net loss was $110.7M, or $0.73/share, vs. $155.9M, or $1.47/share, in Q3 2025.
9M 2026 operating expenses were $381.7M vs. $602.6M; GAAP net loss was $397.1M vs. $593.3M, and EPS was $(2.65) vs. $(5.74).
Q3 R&D expense was $101.9M vs. $141.2M and G&A was $24.6M vs. $28.2M, reflecting lower program, preclinical and employee costs.
No product sales revenue had been generated; an $80M Ono upfront was received in October.
Outlook and guidance
FDA accepted the troriluzole SCA NDA resubmission; the 1Q27 user-fee goal date is targeted, and an advisory committee meeting is planned, with its date forthcoming.
Opakalim RISE 3 topline results remain on track for 2H 2026; taldefgrobep alfa obesity topline data are expected in 2H 2027, including a GLP-1 combination cohort.
BHV-1400 pivotal IgAN trial initiation was targeted for 2H 2026; BHV-1300 Phase 3 Graves’ disease enrollment continues.
Cash, cash equivalents, marketable securities and out-license upfront payments were expected to fund operating and financial commitments for at least one year after financial-statement issuance.
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Latest events from Biohaven
- Net loss narrowed on lower expenses; pivotal trial results for key programs expected in H2 2026.BHVN
Q2 2026 - Net loss narrowed to $130.5 million as cash reserves exceeded $350 million, supporting clinical progress.BHVNQ1 2026
- Votes will be held on director elections, auditor ratification, and executive compensation.BHVNProxy Filing
- Director elections, auditor ratification, and Say-on-Pay headline a year of strategic execution.BHVNProxy Filing
- First-in-class degraders, novel CNS and obesity therapies, and oncology assets advance toward pivotal trials in 2026.BHVN44th Annual J.P. Morgan Healthcare Conference presentation
- Net loss narrowed as cost optimization and capital raises support pivotal trials in 2026.BHVNQ4 2025
- Proxy covers director elections, auditor ratification, executive pay, and governance highlights.BHVNProxy Filing
- Definitive additional proxy materials update shareholders on voting and securities matters.BHVNProxy Filing
- Troriluzole slowed SCA progression by up to 70% over 3 years, with robust safety and efficacy.BHVNStudy Result
Next Biohaven earnings date
Q4 20261 Mar, 2027
Biohaven
Next Biohaven earnings date
Q4 20261 Mar, 2027
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Frequently asked questions
Biohaven Pharmaceutical Holding Company Ltd., a biopharmaceutical company, develops products candidates targeting neurological and neuropsychiatric diseases, and rare disorders in the United States. The company's product candidates are either in various stages of clinical trials or pre-clinical trials.