Biohaven Pharma (BHVN) Tops Q3 EPS by 22c

Biohaven Pharma (NYSE: BHVN) reported Q3 EPS of ($2.67), $0.22 better than the analyst estimate of ($2.89). Revenue for the quarter came in at $17.66 million versus the consensus estimate of $19.35 million.

Vlad Coric, M.D., Chief Executive Officer of Biohaven commented, "In just over six months from launch, NURTEC ODT is changing the standard treatment paradigm of migraine as reflected by attaining more than 220,000 prescriptions written by over 20,000 health care providers in such a short period. We are very pleased to report NURTEC ODT net revenues of $17.7 million in the third quarter, which greatly exceeded our initial expectations, particularly given the challenges of the global pandemic. We believe a significant opportunity exists to expand the oral CGRP market, as this new mechanism represents a transformative solution for patients with migraine beyond generic and over the counter medications. NURTEC ODT's differentiated profile, marked by notably high levels of patient and physician satisfaction, continues to drive the success of our ongoing launch and our team continues to excel in attracting new patients and ensuring broad insurance coverage."

Dr. Coric added, "We believe oral CGRP antagonists for the acute treatment of migraine will become blockbuster drugs and have the potential to grow into a $4B to 5B annual market in the US alone. The successful launch of NURTEC ODT represents the very beginning of Biohaven's commitment to bring novel treatments to patients suffering from neurologic and neuropsychiatric disorders. We remain excited about the prospects for the remainder of our pipeline, particularly with respect to the acceptance of our recent sNDA filing for the preventive treatment of migraine, the upcoming Alzheimer's disease topline data with troriluzole and our rare disease portfolio. In addition to our commitment to common diseases such as migraine, OCD and Alzheimer's disease, we are advancing three therapies for devastating rare diseases which have the potential for significant value creation from our neuroinnovation pipeline of investigational drugs."

For earnings history and earnings-related data on Biohaven Pharma (BHVN) click here.

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