Biohaven

BHVN

Biotechnology · Healthcare

Price

$15.44

+1.27 (+8.96%)

Market Cap

$1.63B

Exchange

New York Stock Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+200.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 35.8M (2021) → 107.6M (2025)

Biohaven Ltd. is a clinical-stage biotechnology company that discovers and develops drugs to treat diseases of the brain and nervous system. Its pipeline focuses on conditions like obsessive-compulsive disorder (OCD), spinocerebellar ataxia, and other neurological disorders. The company is separate from the original Biohaven Pharmaceutical, which was acquired by Pfizer in 2022 — this newer Biohaven was spun off to continue developing the remaining pipeline assets.

Biohaven does not yet sell approved products, so it earns no product revenue and funds its operations through capital raises and partnerships. It operates primarily in the United States and is a small-cap company with a market cap around $1.7 billion. Its pipeline includes troriluzole and several other compounds targeting ion channels and glutamate pathways, which represent a differentiated scientific approach but also a high-risk one. The biggest risk the company faces is clinical trial failure, since it has no approved drugs and burns cash while waiting for trial results.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

+59.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$635M/ year

↓ Declining (-20% vs prior year)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

20.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~7 months

$348M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Biohaven has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

N/A

—

Data not available

Operating Margin

N/A

—

Data not available

ROCE

-35.1%

Weak — -35.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

—

Data not available

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

N/A

—

Data not available

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Stability

Debt / Equity

1.87

Elevated debt (1.87)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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