What Biohaven does

Biohaven is a clinical-stage biopharmaceutical company headquartered in New Haven, Connecticut (incorporated as Biohaven, Ltd. in the British Virgin Islands, with U.S. operations through Biohaven Pharmaceuticals, Inc.), that was spun out of Pfizer's 2023 acquisition of the original Biohaven and concurrently listed on the NYSE under ticker BHVN. The company employs 251-500 staff across offices in New Haven, Cambridge, and Pittsburgh, and is led by Chairman & CEO Vlad Coric, M.D. Biohaven is developing a diversified pipeline of drug candidates across four therapeutic areas — immunology, obesity, neuroscience, and oncology — supported by five proprietary technology platforms: MoDE (Molecular Degraders of Extracellular Proteins), TRAP (Targeted Removal via the asialoglycoprotein receptor), Kv7 ion channel modulation, MATE antibody-drug conjugate chemistry, and PKM2 metabolic modulation.

The pipeline includes late-stage clinical candidates BHV-1300 (MoDE degrader for Graves' disease, >80% pathogenic IgG reduction), BHV-1400 (TRAP degrader for IgA nephropathy, up to 81% Gd-IgA1 reduction), opakalim/BHV-7000 (Kv7.2/7.3 activator for epilepsy), taldefgrobep alfa (myostatin-activin inhibitor for obesity), BHV-1510 (Trop2 ADC combined with Regeneron's cemiplimab in solid tumors), BHV-1530 (FGFR3 ADC in urothelial cancer), BHV-8000 (TYK2/JAK1 inhibitor in Parkinson's), BHV-2100 (TRPM3 antagonist in pain), and first-in-human BHV-8100 (oral PKM2 modulator). A preclinical MoDE/TRAP portfolio extends into myasthenia gravis, Type 1 diabetes, pemphigus, and cardiomyopathies.

Biohaven generates no product revenue as of Q1 2026 (net loss of $130.5 million, a 41% improvement from $221.7 million in Q1 2025) and has no commercialized products following the divestiture of its legacy migraine franchise (Nurtec ODT, Zavzpret) to Pfizer. The company is pre-revenue and intends to monetize through future U.S. pharmaceutical distribution (specialty pharmacies, wholesalers, hospital networks) and potential licensing or co-development partnerships with large pharma, evidenced by its ongoing Regeneron combination collaboration. Strategic cost optimization announced in 2026 targets a ~60% reduction in annual direct R&D spend as the company prioritizes late-stage degraders, Kv7, and obesity programs following a November 2025 FDA Complete Response Letter on troriluzole for spinocerebellar ataxia and a December 2025 Phase 2 failure of opakalim in major depressive disorder.

Name

Biohaven

Legal name

Biohaven, Ltd.

Website

https://biohaven.com

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

251–500 employees

Short description

Biohaven is a clinical-stage biopharmaceutical company developing novel therapies across immunology, obesity, neuroscience, and oncology using proprietary platforms including MoDE and TRAP protein degraders, Kv7 ion channel modulators, and MATE ADC technology.

Ownership category

akta.pro rank

Product category

Clinical-stage Biopharmaceuticals

NAICS

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

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)

akta.pro secondary industries

AI/ML-Enabled Biologic Discovery Platforms (computational design, in silico screening) (HLAAAIAE), Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF), Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)

Keywords

• Clinical-stage biopharmaceutical
• Protein degradation therapeutics
• Autoimmune disease treatments
• Epilepsy drug development
• Antibody-drug conjugates

Headquarters

HQ city

New Haven

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Pharmaceutical Product Sales: Biohaven is a clinical-stage biopharmaceutical company with no current revenue from product sales. The company is developing multiple late-stage clinical candidates and has not yet commercialized any products. Historically, the company developed migraine treatments (Nurtec ODT and Zavzpret) that were sold to Pfizer as part of the original Biohaven acquisition.
2. Drug Development Partnerships/Licensing: Potential future revenue from licensing agreements or co-development partnerships for its proprietary platforms and pipeline candidates. The company may pursue partnerships for global commercialization of its clinical candidates.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Biohaven is a clinical-stage biopharmaceutical company developing life-changing treatments across immunology, obesity, neuroscience, and oncology. The company leverages proprietary platforms including MoDE (Molecular Degraders of Extracellular Proteins), TRAP (Targeted Removal of disease-driving proteins), Kv7 ion channel modulation, MATE ADC conjugation, and PKM2 modulation to advance multiple drug candidates through clinical development. The pipeline targets diseases with significant unmet medical needs such as Graves' disease, IgA nephropathy, epilepsy, obesity, Parkinson's disease, and oncology indications.

Product overview

Biohaven is a clinical-stage biopharmaceutical company developing a diversified portfolio of drug candidates across four therapeutic areas: immunology, obesity, neuroscience, and oncology. The pipeline includes extracellular protein degradation platforms (MoDE™ and TRAP™) for antibody-mediated diseases, Kv7 ion channel modulators for epilepsy, myostatin-activin inhibition for obesity, TRPM3 antagonism for pain, TYK2/JAK1 inhibition for neuroinflammatory diseases, and next-generation antibody-drug conjugates (MATE™ platform) for cancer. Key clinical-stage candidates include BHV-1300 and BHV-1400 (degraders in Phase 1b), opakalim/BHV-7000 (Kv7 activator in Phase 2/3 for epilepsy), taldefgrobep alfa (Phase 2 for obesity), BHV-8000 (Phase 3 for Parkinson's), BHV-2100 (Phase 2 for pain), BHV-1510 and BHV-1530 (ADCs in Phase 1), and BHV-8100 (Phase 1 for neurological diseases). The company also retains legacy commercial products Nurtec ODT and Zavzpret for migraine (sold to Pfizer). Biohaven operates with proven expertise in clinical execution across multiple drug development platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• BHV-1300 (MoDE Degrader) Lead MoDE (Molecular Degraders of Extracellular Proteins) candidate targeting pathogenic IgG antibodies for Graves' disease. Demonstrated up to 87% IgG reduction with normalized thyroid hormones in Phase 1b trials.
• BHV-1400 (TRAP Degrader) TRAP degrader for IgA nephropathy that selectively removes galactose-deficient IgA1 (Gd-IgA1), the pathogenic antibody driver, while sparing healthy antibodies. Demonstrated up to 81% Gd-IgA1 reduction with a single subcutaneous dose.
• Opakalim (BHV-7000) Selective Kv7.2/7.3 potassium channel activator for epilepsy treatment. Structurally and pharmacologically distinct from other potassium channel activators, demonstrating minimal GABAA receptor activation with potentially better tolerability.
• Taldefgrobep Alfa (BHV-2000) Myostatin-activin pathway inhibitor targeting obesity treatment. Designed to reduce fat mass while increasing lean muscle mass, offering potential for high-quality weight loss distinct from current anti-obesity therapies.
• BHV-8000 Brain-penetrant dual TYK2/JAK1 selective inhibitor for neuroinflammatory and neurodegenerative diseases including Parkinson's disease. Breaks the cycle of neuroinflammation by reducing inflammatory impacts of microglia, astrocytes, and infiltrating T-lymphocytes.
• BHV-2100 Highly selective TRPM3 antagonist for pain disorders. First-in-class, orally administered molecule demonstrating potent pain reversal in preclinical models with favorable safety and pharmacokinetic properties.
• BHV-1510 Next-generation Trop2 antibody-drug conjugate (ADC) for advanced or metastatic epithelial tumors. Being studied in combination with PD-1 monoclonal antibody cemiplimab in Phase 1 clinical trial.
• BHV-1530 FGFR3 ADC (antibody-drug conjugate) for urothelial cancer and other tumors.
• BHV-8100 Oral brain-penetrant PKM2 modulator targeting metabolic dysfunction in neurological and retinal diseases including Alzheimer's disease and multiple sclerosis. Demonstrated up to 3-fold improvement in cerebral glucose utilization in human brain models.
• Nurtec ODT (rimegepant) Orally disintegrating tablet for acute migraine treatment. Part of Biohaven's legacy migraine franchise that was sold to Pfizer as part of the company's asset monetization strategy.
• Zavzpret (zavegepant) Nasal spray for acute migraine treatment. Part of Biohaven's legacy migraine franchise sold to Pfizer.

Quantifiable outcome

• BHV-1300 achieved over 80% mean reduction in pathogenic autoantibodies in Graves' hyperthyroidism patients by week 12
• +4 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered minor and core.

• King Abdullah University of Science and TechnologyminorStrategic or Co-development Partner · 12 January 2026Collaboration announced at J.P. Morgan Healthcare Conference for advancing scientific research in key therapeutic areas. The partnership supports Biohaven's innovation engine approach combining internal R&D with academic partnerships.
• BexorgcoreTechnology or IntegrationBiohaven has used approximately 130 of Bexorg's disembodied human brains to test compounds including potential Parkinson's treatments. Bexorg's BrainEx technology maintains human brains for up to 24 hours for drug testing. Based on data gathered, Biohaven received FDA approval to launch a clinical trial for a brain-energy-boosting compound.
• RegeneroncoreStrategic or Co-development PartnerBiohaven's BHV-1510 Trop2 antibody drug conjugate is being studied in combination with Regeneron's PD-1 monoclonal antibody cemiplimab in patients with advanced solid tumors. Early-stage data presented at ESMO Immuno-Oncology Congress showed promising results.
• PfizercoreStrategic or Co-development PartnerPfizer acquired the original Biohaven including its migraine franchise (Nurtec ODT and Zavzpret). Current Biohaven was spun out from Pfizer's acquisition. Pfizer CFO Dave Denton's tenure included the Biohaven acquisition as part of an aggressive acquisition phase.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Arvinas: Clinical-stage biotech developing targeted protein degradation (PROTAC) platforms. Most directly comparable to Biohaven's MoDE/TRAP degrader approach, pioneering extracellular/intracellular protein degradation technology with multiple clinical-stage candidates.
• Alnylam Pharmaceuticals: Clinical/commercial-stage biotech pioneering a novel therapeutic modality (RNAi) across multiple disease areas. Comparable to Biohaven given shared entrepreneurial model, multi-platform R&D approach, and novel modality strategy.
• Kymera Therapeutics: Clinical-stage biotech using targeted protein degradation (Pegasus platform) for immunology and oncology indications. Comparable to Biohaven's MoDE/TRAP platforms given shared degrader-modality approach and similar therapeutic area focus.
• Immunovant: Clinical-stage immunology company developing FcRn inhibitors (batoclimab, IMVT-1402) for IgG-mediated autoimmune diseases including Graves' disease and myasthenia gravis, directly overlapping Biohaven's BHV-1300 MoDE program in autoimmune indications.
• Karuna Therapeutics: Clinical-stage CNS biotech (acquired by BMS) focused on neuropsychiatric indications including schizophrenia. Comparable to Biohaven's pre-MDD-failure psychiatry ambitions and CNS specialization model.
• BridgeBio Pharma: Clinical-stage biotech focused on genetic diseases and rare disease therapeutics with multiple late-stage programs. Comparable business model to Biohaven through multiple platform approaches targeting niche indications, often using novel mechanisms of action.
• Xenon Pharmaceuticals: Clinical-stage neurology biotech with epilepsy programs. Directly comparable to Biohaven's BHV-7000 opakalim program; both companies developing novel CNS-targeted epilepsy treatments with Phase 2/3 readouts.
• Sage Therapeutics: CNS-focused clinical-stage biopharma (now private post-Biogen acquisition) developing neuroactive therapeutics. Highly comparable to Biohaven's Kv7/PKM2 neurology pipeline and neuroscience therapeutic area focus.

Broad incumbents

• Vertex Pharmaceuticals: Established commercial-stage biopharma with diversified pipeline including rare disease and clinical-stage programs. Comparable archetype for Biohaven given shared entrepreneurial culture, broad multi-platform R&D, and track record of successful drug development and commercialization.
• Seagen: Large oncology biotech (acquired by Pfizer) specializing in antibody-drug conjugates (ADCs). Comparable to Biohaven's MATE™ ADC platform and Trop2/FGFR3 candidates BHV-1510/BHV-1530.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/biohaven
• YouTubeyoutube.com/c/biohavenpharmaceuticals
• Facebookfacebook.com/biohaven
• LinkedInlinkedin.com/company/biohaven
• Instagraminstagram.com/biohaven

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors2 records

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M&A

Investments

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

Frequently asked questions about Biohaven