Biohaven Pharmaceutical

What Biohaven Pharmaceutical does

Biohaven Pharmaceutical (NYSE: BHVN) is a Connecticut-headquartered, clinical-stage biopharmaceutical company that discovers, develops, and commercializes therapies in immunology, obesity, neuroscience, and oncology. Founded in 2015 and operating from New Haven, Biohaven built its commercial foundation on the CGRP receptor antagonist migraine franchise of Nurtec ODT (rimegepant, oral disintegrating tablet) and Zavzpret (zavegepant, nasal spray), both indicated for acute migraine treatment and distributed through pharmacy channels via physician prescriptions.

The company's pipeline is built around multiple proprietary drug development platforms. Its MoDE (Molecular Degrader of Extracellular Proteins) and TRAP (Targeted Receptor Activating Protein) technologies enable selective lowering of disease-driving antibodies and have produced BHV-1300 (over 80% autoantibody reduction in Graves' disease) and BHV-1400 (approximately 70% reduction in IgA nephropathy, with Goldman Sachs projecting $5.7B peak sales and a $40B+ US TAM). Additional programs include BHV-8000, a brain-penetrant dual TYK2/JAK1 inhibitor for neurodegenerative diseases in-licensed from Highlightll Pharmaceutical; BHV-8100, an oral PKM2 modulator that entered first-in-human dosing in June 2026; and Opakalim, a selective Kv7.2/7.3 activator for epilepsy. A prior troriluzole program for spinocerebellar ataxia was rejected by the FDA over real-world evidence and study design concerns, illustrating regulatory risk.

Biohaven's revenue model centers on prescription pharmaceutical product sales, primarily Nurtec ODT and Zavzpret, priced through negotiations with insurers, pharmacy benefit managers, and government healthcare programs. In 2023 Pfizer acquired Biohaven for approximately $11.6 billion, integrating the migraine franchise into Pfizer's broader neurology portfolio while Biohaven continued operating with its own management team and independent NYSE listing. The company funds its pipeline through a mix of public equity offerings (notably $262.5M in October 2022 and $230M in April 2024) and strategic capital, supporting a portfolio strategy spanning in-licensing, acquisitions (Channel Bio in 2022), and proprietary platform-driven drug development.

Name

Biohaven Pharmaceutical

Legal name

Biohaven, Ltd.

Website

https://biohavenpharma.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Biohaven Pharmaceutical (NYSE: BHVN) is a New Haven-based biopharmaceutical company that discovers, develops, and commercializes therapies in immunology, obesity, neuroscience, and oncology, anchored by its marketed CGRP migraine franchise Nurtec ODT and Zavzpret and a pipeline of extracellular protein degraders and kinase and ion-channel modulators.

Ownership category

akta.pro rank

Product category

Neurology Pharmaceuticals

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)

akta.pro secondary industries

Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF), Headache & Migraine Medicine (HLAKAIAE), Translational Medicine & Biomarkers (HLAIALAF), Translational & Pharmacodynamic Biomarkers (MOA, target engagement, PD/PK-linked markers) (HLAAAMAD), Connected Therapeutics & Smart Drug Delivery Monitoring (HLACAFAL)

Keywords

• Neurology drug development
• Migraine therapeutics
• Protein degradation platform
• Clinical-stage biopharmaceutical
• Prescription pharmaceutical sales

Headquarters

HQ city

New Haven

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Supply Chain

Revenue model

1. Pharmaceutical Product Sales: Biohaven generates revenue primarily from the sale of prescription pharmaceutical products, most notably Nurtec ODT (rimegepant) for migraine treatment and Zavzpret (zavegepant). The company is advancing its pipeline in immunology, obesity, neuroscience and oncology with multiple clinical-stage drug candidates.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Biohaven is a clinical-stage biopharmaceutical company that develops, discovers, and commercializes prescription pharmaceutical treatments primarily targeting neurological diseases. The company markets migraine treatments Nurtec ODT (rimegepant) and Zavzpret (zavegepant) and advances a pipeline across immunology, obesity, neuroscience and oncology using proprietary platforms including MoDE and TRAP extracellular protein degradation technologies, brain-penetrant TYK2/JAK1 inhibitors, PKM2 modulators, and Kv7.2/7.3 potassium channel activators.

Product overview

Biohaven is a clinical-stage biopharmaceutical company focused on drug discovery, development, and commercialization of treatments in immunology, obesity, neuroscience, and oncology. The company has a proven track record with marketed migraine treatments Nurtec ODT (rimegepant) and Zavzpret (zavegepant), both CGRP inhibitors. Biohaven is advancing multiple drug candidates across therapeutic areas: BHV-8000 (TYK2/JAK1 inhibitor for neuroinflammatory diseases), BHV-1300 and BHV-1400 (extracellular protein degraders for autoimmune conditions), BHV-8100 (PKM2 modulator), and Opakalim (Kv7.2/7.3 activator for epilepsy). The company operates proprietary drug development platforms including MoDE (Molecular Degrader of Ectodomain) and TRAP (Targeted Receptor Antibody Protac) technologies for targeted protein degradation.

Differentiator

Problem solved

Functional benefit

Products and services

• Nurtec ODT (rimegepant) Oral disintegrating tablet (ODT) for acute migraine treatment; a CGRP receptor antagonist that provides rapid relief from migraine symptoms. Marketed product for patients with acute migraine.
• Zavzpret (zavegepant) Nasal spray formulation for acute migraine treatment; a CGRP receptor antagonist offering an alternative delivery method for migraine relief. Marketed product for patients with acute migraine.
• BHV-8000 Brain-penetrant dual TYK2/JAK1 inhibitor targeting immune pathways implicated in neurodegenerative and neuroinflammatory disorders including Parkinson's disease. Clinical-stage drug candidate acquired from Highlightll Pharmaceutical.
• BHV-1300 MoDE (Molecular Degrader of Extracellular Proteins) extracellular protein degrader for Graves' disease, demonstrating over 80% reduction in autoantibodies in Phase 1b trials. Clinical-stage drug candidate.
• BHV-1400 TRAP (Targeted Receptor Activating Protein) extracellular protein degrader for IgA nephropathy, showing approximately 70% reduction in autoantibody complexes. Clinical-stage drug candidate with planned pivotal trial in 2026.
• BHV-8100 Oral PKM2 modulator targeting metabolic restoration and immunomodulation; entered first-in-human dosing in June 2026. Clinical-stage drug candidate.
• Opakalim Selective Kv7.2/7.3 potassium channel activator for epilepsy treatment, demonstrating seizure control and differentiated tolerability profile in clinical data. Clinical-stage drug candidate.
• Troriluzole Drug candidate for spinocerebellar ataxia (SCA); FDA rejected the application citing concerns about real-world evidence and study design flaws. Clinical-stage drug candidate.

Quantifiable outcome

• Over 80% reduction in autoantibodies in Graves' disease with BHV-1300
• +2 more outcomes

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core, flagship and minor.

• Highlightll PharmaceuticalcoreStrategic or Co-development Partner · 22 March 2023Biohaven acquired global rights excluding China to develop BHV-8000, a brain-penetrant dual TYK2/JAK1 inhibitor. The drug targets immune pathways implicated in neurodegenerative and neuroinflammatory disorders including Parkinson's disease. Phase 1 clinical trials initiated in 2023. Highlightll Pharmaceutical receives milestone payments and royalties.
• PfizerflagshipOthers · 1 January 2023Pfizer acquired Biohaven for approximately $11.6 billion in 2023, integrating Biohaven's migraine treatments including Nurtec and Zavzpret into Pfizer's portfolio. The acquisition was part of Pfizer's strategic expansion following COVID-19 revenue decline, representing an $80 billion total investment in recently acquired assets.
• Bristol Myers SquibbcoreTechnology or Integration · 25 February 2022Biohaven licensed a Bristol Myers Squibb drug for testing in spinal muscular atrophy (SMA), expanding its neuroscience portfolio. This represents a strategic in-licensing arrangement to access novel therapeutic candidates.
• Channel BiominorStrategic or Co-development Partner · 25 February 2022Biohaven acquired Channel Bio for $100 million as part of its strategy to expand its neuroscience portfolio through acquisitions, building on growing revenue from migraine medication Nurtec.
• Yale University School of MedicineminorStrategic or Co-development PartnerAcademic collaboration for research and development, leveraging leading medical research institution for innovation in drug development.
• University of ConnecticutminorStrategic or Co-development PartnerAcademic partnership for research collaboration in biotechnology and pharmaceutical sciences.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• AbbVie (Allergan): Markets Ubrelvy (ubrogepant), a direct CGRP receptor antagonist competitor to Nurtec ODT in acute migraine; both target the same CGRP pathway with oral small-molecule formulations, competing for the same prescribers and payer formularies.
• Amgen (Aimovig): Co-developed and markets Aimovig (erenumab) with Novartis, a CGRP pathway migraine therapy. Directly competes with Biohaven's migraine franchise and shares the same payer and prescriber audience.
• Teva Pharmaceutical: Markets Ajovy (fremanezumab), a CGRP monoclonal antibody for migraine prevention. Operates in the same CGRP migraine category as Biohaven and competes for migraine market share across both acute and preventive settings.
• Lundbeck: Markets Vyepti (eptinezumab), an IV CGRP antibody for migraine prevention. A direct CGRP competitor to Biohaven, particularly relevant given Biohaven's pivot into adjacent neuroscience indications like cluster headache and trigeminal neuralgia.
• Eli Lilly (Reyvow): Markets Reyvow (lasmiditan), a 5-HT1F receptor agonist for acute migraine, overlapping with Biohaven's acute migraine franchise (Nurtec/Zavzpret). Also advancing broader neurology and immunology pipelines competitive with Biohaven's portfolio.

Emerging players

• Vertex Pharmaceuticals: Mid-to-late-stage CNS and pain-focused biotech with growing neuroscience pipeline; comparable as a public clinical-to-commercial stage neurology/specialty biotech with a strong R&D reputation and similar investor profile.
• Sage Therapeutics: CNS-focused biotech with marketed Zurzuvae (postpartum depression) and pipeline in epilepsy and neuropsychiatry; comparable in therapeutic focus (CNS) and clinical-stage structure to Biohaven's neuroscience portfolio.
• Intra-Cellular Therapies: CNS-focused biotech with Caplyta (lumateperone) approved for schizophrenia and bipolar depression; recently acquired by AbbVie for ~$14.6B — a comparable strategic exit dynamic to Biohaven's Pfizer transaction and direct CNS franchise competitor.
• Karuna Therapeutics: CNS biotech with schizophrenia-focused pipeline (xanomeline-trospium); acquired by Bristol Myers Squibb for $14B — a precedent CNS-focused pharma acquisition exit that informs the strategic optionality for Biohaven's pipeline.
• Acadia Pharmaceuticals: Neuroscience-focused biotech with marketed Nuplazid (Parkinson's psychosis) and pipeline across CNS indications including epilepsy; directly comparable CNS specialty pharma commercial structure with both marketed products and pipeline development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/biohavenpharma
• YouTubeyoutube.com/c/biohavenpharmaceuticals
• Facebookfacebook.com/biohaven
• LinkedInlinkedin.com/company/biohaven-pharmaceuticals-inc
• Instagraminstagram.com/biohaven

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds13 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Biohaven Pharmaceutical