NEW HAVEN, Conn., Aug. 9, 2021 /PRNewswire/ -- Biohaven
Pharmaceutical Holding Company Ltd. (NYSE: BHVN), a
biopharmaceutical company with a portfolio of innovative,
late-stage product candidates targeting neurological diseases
including rare disorders, today reported financial results for the
second quarter ended June 30, 2021,
and provided a review of recent accomplishments and anticipated
upcoming milestones.
Vlad Coric, M.D., Chief Executive
Officer of Biohaven commented, "Once again, the Biohaven team has
outperformed business expectations for our CGRP receptor antagonist
platform. Demand for NURTEC ODT is strong and our differentiated
product is changing the paradigm by which migraine is treated. We
are extremely proud of the success of our platform over the
quarter, unlocking a sizable opportunity through the landmark
approval of NURTEC ODT for both the acute and preventive treatment
of migraine, while simultaneously bolstering innovation, and
advancing clinical programs outside of our CGRP receptor antagonist
franchise."
Dr. Coric continued, "We believe NURTEC ODT will continue to
drive impressive revenue growth, but the true value is in the
improved quality of life for those individuals who now have a
one-stop solution for acute and preventive treatment of migraine.
We are excited to pursue the science of CGRP antagonism with our
broad platform of CGRP assets in pain adjacencies and non-migraine
indications that we believe are driven by
neuroimmune/neuroinflammatory interactions. The life-cycle
management studies of NURTEC ODT and our other clinical
CGRP-targeting assets including intranasal zavegepant, oral
zavegepant, and BHV-3100 will pursue multiple indications with the
goal of growing an industry leading CGRP franchise."
Second Quarter and Recent Business Highlights
Continued strong uptake of NURTEC ODT –During the second
quarter of 2021, the Company saw significant net revenue growth,
more than doubling over the first quarter of 2021, driven by
improvement in both net price realization and volume. We
believe there continues to be a significant market opportunity for
oral CGRP targeting agents ahead, with a potential $4-5 billion annual market in the U.S. alone for
the acute treatment of migraine. We will continue to invest in
NURTEC's long term success, driving its growth outside of the U.S.
and continuing to expand commercial payer coverage. Despite the
industry-wide commercial challenges throughout the pandemic, NURTEC
ODT has now achieved over 875,000 prescriptions and over 44,000
unique prescribers to date and continues to exceed revenue
expectations.
FDA Approves NURTEC ODT (rimegepant) for Preventive Treatment
of Migraine – In May, the Company announced that the FDA
approved NURTEC ODT for the preventive treatment of episodic
migraine. This milestone approval makes NURTEC ODT the first and
only medication approved to both treat and prevent migraine
attacks, expanding the product label to include the use of NURTEC
ODT 75 mg up to 18 doses per month. In the pivotal Phase 3 clinical
trial, NURTEC rapidly and effectively prevented migraine, reducing
migraine days by 30% after just 1 week of every other day
treatment; by 3 months of treatment, approximately half of patients
experienced at least a 50% reduction in moderate-to-severe migraine
days.
United States Patent and Trademark Office awards ODT drug
product patent for NURTEC ODT – In July, the Company received
notice that the United States Patent and Trademark Office (USPTO)
has awarded a patent directed to our drug product, NURTEC ODT
(rimegepant), as well as other CGRP inhibitors, in an ODT form.
This patent will expire in March
2039, not including patent term adjustment or any potential
patent term extension. The patent is also pending in major
market countries throughout the world including countries in
Europe, Japan and China. This issuance of this
patent extends the Company's intellectual property protection for
our CGRP platform until 2039.
Biohaven and Sosei Heptares collaboration initiates Phase 1
trial with novel small-molecule CGRP antagonist – In June,
Biohaven and the Sosei Group Corporation dosed the first patient
with BHV-3100 in a Phase 1 clinical study. BHV-3100 is a novel,
small molecule CGRP receptor antagonist discovered by Sosei
Heptares, which has demonstrated promising and differentiated
properties to target CGRP-mediated disorders in preclinical
development. The trial is a Phase 1, randomized, double-blind,
placebo-controlled, first-in-human study to evaluate the safety,
tolerability, and pharmacokinetics of a single ascending dose and
multiple ascending doses of subcutaneous BHV-3100. The trial aims
to enroll 88 subjects at a single center in the UK and is expected
to complete in 2022.
Kishen Mehta appointed to
Board of Directors – In June, Mr. Kishen Mehta joined Biohaven's board. Mr. Mehta
has approximately 15 years of experience in the financial industry
and is currently a Portfolio Manager at Suvretta Capital
Management, LLC, responsible for its healthcare-focused investment
strategy, Averill, which attempts to identify companies that are
disruptive to the healthcare industry. Previously, Mr. Mehta
served as a strategic advisor to Biohaven Pharmaceuticals, where he
advised the company on various business development, capital
structure, and communication strategies. Mr. Mehta also had roles
as a portfolio manager at Surveyor Capital, a Citadel LLC strategy,
where he managed a portfolio focused on global small, mid, and
large-capitalization biotechnology, pharmaceutical, specialty
pharmaceutical, medical device, and healthcare services companies.
Prior to Surveyor, Mr. Mehta was an analyst at Adage Capital where
he evaluated and participated in numerous mezzanine and pre-IPO
private healthcare investments. Mr. Mehta started his career as a
mergers and acquisitions analyst at Evercore Partners, where he
focused on life sciences.
George Clark, CPA appointed
VP, Chief Accounting Officer – In August, the Company
appointed Mr. George Clark as
its Vice President, Chief Accounting Officer. Mr. Clark has
been with Biohaven since 2018 and serving as Vice President of
Finance. Prior to joining Biohaven, Mr. Clark held roles with
KPMG, LLP as a Senior Audit Manager; The Hartford Financial
Services Group, Inc. in external reporting and investment
accounting; and began his career at PricewaterhouseCoopers,
LLP. Mr. Clark is a graduate of the University of Connecticut where he earned Bachelor
and Master of Science degrees in Accounting and is a Certified
Public Accountant.
Upcoming Milestones:
Biohaven is continuing to support
the launch of NURTEC ODT for the acute and preventive treatment of
migraine, as well as develop our product candidates through
clinical and preclinical programs in a number of common and rare
disorders. The Company expects to reach significant pipeline
milestones with its CGRP receptor antagonists, glutamate
modulators, and myeloperoxidase inhibitors in the coming
quarters.
Biohaven expects to:
- Continue commercialization of NURTEC ODT for the dual
indications of the acute and preventive treatment of migraine and
advance regulatory efforts outside the U.S.
- Report topline of intranasal zavegepant in the acute treatment
of migraine in the second half of 2021, followed by filing by year
end if positive results are achieved.
- Report topline of verdiperstat for the treatment of MSA in the
third quarter of 2021.
- Complete enrollment of verdiperstat for the treatment of ALS in
the fourth quarter of 2021.
- Report topline of troriluzole in Spinocerebellar Ataxia in the
first half of 2022.
- Report topline of troriluzole in OCD in the second half of
2022.
Second Quarter Financial Results
Product Revenues, Net: Net product revenue was
$92.9 million for the three months
ended June 30, 2021, compared to
$9.7 million for the three months
ended June 30, 2020. The increase of
$83.2 million in net product revenues
is due to both increased NURTEC ODT sales volume and improvements
in net price realization due to decreases in sales allowances
during the three months ended June 30,
2021, compared to the three months ended June 30, 2020. The Company began selling NURTEC
ODT in March 2020. Sales allowances
and accruals mostly consisted of patient affordability programs,
distribution fees and rebates.
Research and Development (R&D) Expenses: R&D
expenses, including non-cash share-based compensation costs, were
$77.4 million for the three months
ended June 30, 2021, compared to
$42.4 million for the three months
ended June 30, 2020. The increase of
$35.0 million was primarily due to an
increase in both late-stage product candidates and preclinical
research. Non-cash share-based compensation expense was
$9.3 million for the three months
ended June 30, 2021, an increase of
$2.8 million as compared to the same
period in 2020.
Selling, General and Administrative (SG&A) Expenses:
SG&A expenses, including non-cash share-based compensation
costs, were $170.1 million for the
three months ended June 30, 2021,
compared to $124.8 million for the
three months ended June 30, 2020. The
increase of $45.3 million was
primarily due to increases in spending to support increased
commercial sales of NURTEC ODT for the three months ended
June 30, 2021 compared to the three
months ended June 30, 2020. Less than
half of the SG&A expense was for commercial organization
personnel costs, excluding non-cash share-based compensation
expense. Non-cash share-based compensation expense was
$16.3 million for the three months
ended June 30, 2021, an increase of
$11.0 million as compared to the same
period in 2020. The increase in non-cash share-based compensation
expense was primarily due to the amortization of the Company's
annual equity incentive awards that were granted in the first
quarter of 2021.
Net Loss: Biohaven reported a net loss
attributable to common shareholders for the three months ended
June 30, 2021, of $210.6 million, or $3.23 per share, compared to $180.9 million,
or $3.08 per share for the same period in 2020.
Non-GAAP adjusted net loss for the three months ended June 30, 2021 was $170.9
million, or $2.62 per share,
compared to $150.0 million, or $2.55 per share for
the same period in 2020. These non-GAAP adjusted net loss and
non-GAAP adjusted net loss per share measures, more fully described
below under "Non-GAAP Financial Measures," exclude non-cash
share-based compensation charges, non-cash interest expense related
to the accounting for mandatorily redeemable preferred shares and
liability related to sale of future royalties, changes in the fair
value of derivatives, gains or losses from equity method
investment, collaboration and license upfront expenses, and accrued
development milestone payments. A reconciliation of the GAAP
financial results to non-GAAP financial results is included in the
tables below.
Cash, Restricted Cash, and Marketable
Securities: Cash, restricted cash, and marketable
securities as of June 30, 2021, was $368.0 million,
compared to $570.9 million as of March 31, 2021. In
addition, the Company has access to $225.0
million in delayed draw term loans under the Sixth Street
Financing Agreement, and $164.8
million in Series B preferred share forward contracts in
quarterly cash proceeds until the fourth quarter of 2024.
Conference Call Information
As previously announced,
the Company will hold a conference call to discuss its second
quarter 2021 results today at 8:30 a.m.
EDT. To access the call, please dial 877-407-9120 (domestic)
or 412-902-1009 (international). The conference call webcast, and
accompanying slide presentation, can be accessed through the
"Investors" section of Biohaven's website at
www.biohavenpharma.com. To ensure a timely connection, it is
recommended that participants register at least 15 minutes prior to
the scheduled webcast. A replay of the call will be made available
for two weeks following the conference call. To hear a replay of
the call, dial 877-660-6853 (domestic) or 201-612-7415
(international) with conference ID 13720712. An archived webcast
will be available on Biohaven's website.
Non-GAAP Financial Measures
This press release
includes financial results prepared in accordance with accounting
principles generally accepted in the
United States (GAAP), and also certain non-GAAP financial
measures. In particular, Biohaven has provided non-GAAP adjusted
net loss and adjusted net loss per share, adjusted to exclude the
items below. Non-GAAP financial measures are not an alternative for
financial measures prepared in accordance with GAAP. However,
Biohaven believes the presentation of non-GAAP adjusted net loss
and adjusted net loss per share, when viewed in conjunction with
GAAP results, provides investors with a more meaningful
understanding of ongoing operating performance. These measures
exclude (i) non-cash share-based compensation, which is
substantially dependent on changes in the market price of common
shares, (ii) interest expense related to the accounting for our
mandatorily redeemable preferred shares and liability related to
sale of future royalties, which are in excess of the actual
interest owed, (iii) changes in the fair value of derivative
liability, which does not correlate to actual cash payment
obligations in the relevant periods, (iv) gains or losses from
equity method investment, which are non-cash and based on the
financial results and valuation of another company that we did not
manage or control, (v) collaboration and license upfront expenses,
which the Company does not believe are normal, recurring operating
expenses due to their nature, variability of amounts, and lack of
predictability as to occurrence and/or timing, and (vi) non-routine
accrued development milestone expenses.
Biohaven believes the presentation of these non-GAAP financial
measures provides useful information to management and investors
regarding Biohaven's results of operations. When GAAP financial
measures are viewed in conjunction with these non-GAAP financial
measures, investors are provided with a more meaningful
understanding of Biohaven's ongoing operating performance and are
better able to compare Biohaven's performance between periods. In
addition, these non-GAAP financial measures are among those
indicators Biohaven uses as a basis for evaluating performance, and
planning and forecasting future periods. These non-GAAP financial
measures are not intended to be considered in isolation or as a
substitute for GAAP financial measures. A reconciliation between
these non-GAAP measures and the most directly comparable GAAP
measures is provided later in this press release.
About Biohaven
Biohaven is a commercial-stage
biopharmaceutical company with a portfolio of innovative,
best-in-class therapies to improve the lives of patients with
debilitating neurological and neuropsychiatric diseases, including
rare disorders. Biohaven's neuroinnovation portfolio includes
FDA-approved NURTEC ODT (rimegepant) for the acute and preventive
treatment of migraine and a broad pipeline of late-stage product
candidates across three distinct mechanistic platforms: CGRP
receptor antagonism for the acute and preventive treatment of
migraine and CGRP-mediated neuroimmune/neuroinflammatory diseases;
glutamate modulation for obsessive-compulsive disorder, Alzheimer's
disease, and spinocerebellar ataxia; and myeloperoxidase (MPO)
inhibition for multiple system atrophy and amyotrophic lateral
sclerosis. More information about Biohaven is available at
www.biohavenpharma.com.
Forward-Looking Statements
This news release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The use of certain words,
including "believe", "continue", "may", "will" and similar
expressions, are intended to identify forward-looking statements.
These forward-looking statements involve substantial risks and
uncertainties, including statements that are based on the current
expectations and assumptions of Biohaven's management about NURTEC
ODT as an acute treatment for patients with migraine and preventive
treatment for migraine. Factors that could affect these
forward-looking statements include those related to: Biohaven's
ability to effectively commercialize NURTEC ODT, delays or problems
in the supply or manufacture of NURTEC ODT, complying with
applicable U.S. regulatory requirements, the expected timing,
commencement and outcomes of Biohaven's planned and ongoing
clinical trials, the timing of planned interactions and filings
with the FDA, the timing and outcome of expected regulatory
filings, the potential commercialization of Biohaven's product
candidates, the potential for Biohaven's product candidates to be
first in class or best in class therapies and the effectiveness and
safety of Biohaven's product candidates. Various important factors
could cause actual results or events to differ materially from
those that may be expressed or implied by forward-looking
statements. Additional important factors to be considered in
connection with forward-looking statements are described in the
"Risk Factors" section of Biohaven's Annual Report on Form 10-K for
the year ended December 31, 2020,
filed with the Securities and Exchange Commission on March 1, 2021, and in Biohaven's subsequent
filings with the Securities and Exchange Commission. The
forward-looking statements are made as of this date and Biohaven
does not undertake any obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
BIOHAVEN
PHARMACEUTICAL HOLDING COMPANY LTD.
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in
thousands, except share and per share amounts)
(Unaudited)
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
Product revenue,
net
|
|
$
|
92,933
|
|
|
$
|
9,698
|
|
|
$
|
136,756
|
|
|
$
|
10,849
|
|
Cost of goods
sold
|
|
17,339
|
|
|
3,058
|
|
|
30,201
|
|
|
3,482
|
|
Gross
profit
|
|
75,594
|
|
|
6,640
|
|
|
106,555
|
|
|
7,367
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Research and
development
|
|
77,428
|
|
|
42,425
|
|
|
184,539
|
|
|
98,495
|
|
Selling, general and
administrative
|
|
170,057
|
|
|
124,802
|
|
|
329,580
|
|
|
220,403
|
|
Total operating
expenses
|
|
247,485
|
|
|
167,227
|
|
|
514,119
|
|
|
318,898
|
|
Loss from
operations
|
|
(171,891)
|
|
|
(160,587)
|
|
|
(407,564)
|
|
|
(311,531)
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
(7,836)
|
|
|
(172)
|
|
|
(15,567)
|
|
|
(227)
|
|
Interest expense on
mandatorily redeemable preferred
shares
|
|
(8,042)
|
|
|
(6,993)
|
|
|
(15,985)
|
|
|
(12,554)
|
|
Interest expense on
liability related to sale of future
royalties
|
|
(14,499)
|
|
|
(11,570)
|
|
|
(28,007)
|
|
|
(19,995)
|
|
Change in fair value
of derivatives
|
|
(1,490)
|
|
|
650
|
|
|
(1,700)
|
|
|
(5,131)
|
|
Gain (loss) from
equity method investment
|
|
—
|
|
|
(1,485)
|
|
|
5,261
|
|
|
(2,865)
|
|
Other expense,
net
|
|
(3,051)
|
|
|
(119)
|
|
|
(4,751)
|
|
|
(216)
|
|
Total other income
(expense), net
|
|
(34,918)
|
|
|
(19,689)
|
|
|
(60,749)
|
|
|
(40,988)
|
|
Loss before provision
for income taxes
|
|
(206,809)
|
|
|
(180,276)
|
|
|
(468,313)
|
|
|
(352,519)
|
|
Provision for income
taxes
|
|
4,350
|
|
|
658
|
|
|
8,174
|
|
|
1,352
|
|
Net loss
|
|
(211,159)
|
|
|
(180,934)
|
|
|
(476,487)
|
|
|
(353,871)
|
|
Less: Net loss
attributable to non-controlling interests
|
|
(540)
|
|
|
—
|
|
|
(900)
|
|
|
—
|
|
Net loss attributable
to Biohaven Pharmaceutical Holding
Company Ltd.
|
|
$
|
(210,619)
|
|
|
$
|
(180,934)
|
|
|
$
|
(475,587)
|
|
|
$
|
(353,871)
|
|
Net loss per share
attributable to Biohaven Pharmaceutical
Holding Company Ltd. — basic and diluted
|
|
$
|
(3.23)
|
|
|
$
|
(3.08)
|
|
|
$
|
(7.48)
|
|
|
$
|
(6.15)
|
|
Weighted average
common shares outstanding—basic and
diluted
|
|
65,112,179
|
|
|
58,742,329
|
|
|
63,584,932
|
|
|
57,577,384
|
|
BIOHAVEN
PHARMACEUTICAL HOLDING COMPANY LTD.
CONDENSED
CONSOLIDATED BALANCE SHEETS
(Amounts in
thousands)
|
|
|
|
June 30,
2021
|
|
December 31,
2020
|
|
|
(Unaudited)
|
|
|
Assets
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash
|
|
$
|
306,267
|
|
|
$
|
132,149
|
|
Marketable
securities
|
|
59,840
|
|
|
223,185
|
|
Trade receivables,
net
|
|
168,637
|
|
|
120,111
|
|
Inventories
|
|
64,058
|
|
|
39,563
|
|
Prepaid
expenses
|
|
48,871
|
|
|
76,682
|
|
Other current
assets
|
|
18,907
|
|
|
11,716
|
|
Total current
assets
|
|
666,580
|
|
|
603,406
|
|
Property and
equipment, net
|
|
10,885
|
|
|
9,340
|
|
Equity method
investment
|
|
—
|
|
|
1,176
|
|
Intangible assets,
net
|
|
57,501
|
|
|
39,087
|
|
Other
assets
|
|
110,927
|
|
|
33,966
|
|
Total
assets
|
|
$
|
845,893
|
|
|
$
|
686,975
|
|
Liabilities and
Shareholders' Deficit
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts
payable
|
|
$
|
60,002
|
|
|
$
|
48,476
|
|
Accrued expenses and
other current liabilities
|
|
276,630
|
|
|
166,630
|
|
Current portion of
mandatorily redeemable preferred shares
|
|
62,500
|
|
|
62,500
|
|
Total current
liabilities
|
|
399,132
|
|
|
277,606
|
|
Long-term
debt
|
|
274,138
|
|
|
267,458
|
|
Liability related to
sale of future royalties, net
|
|
347,384
|
|
|
328,350
|
|
Mandatorily
redeemable preferred shares, net
|
|
133,091
|
|
|
111,591
|
|
Derivative
liability
|
|
15,890
|
|
|
14,190
|
|
Obligation to perform
R&D services
|
|
55,353
|
|
|
932
|
|
Other long-term
liabilities
|
|
17,501
|
|
|
19,037
|
|
Total
liabilities
|
|
1,242,489
|
|
|
1,019,164
|
|
Contingently
redeemable non-controlling interests
|
|
60,000
|
|
|
60,000
|
|
Total shareholders'
deficit attributable to Biohaven Pharmaceutical
Holding Company Ltd.
|
|
(453,877)
|
|
|
(390,370)
|
|
Non-controlling
interests
|
|
(2,719)
|
|
|
(1,819)
|
|
Total shareholders'
deficit
|
|
(456,596)
|
|
|
(392,189)
|
|
Total liabilities and
shareholders' deficit
|
|
$
|
845,893
|
|
|
$
|
686,975
|
|
BIOHAVEN
PHARMACEUTICAL HOLDING COMPANY LTD.
RECONCILIATION OF
GAAP TO NON-GAAP FINANCIAL MEASURES
(Amounts in
thousands, except share and per share amounts)
(Unaudited)
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
Reconciliation of
GAAP to Non-GAAP adjusted net loss:
|
|
|
|
|
GAAP net
loss
|
|
$
|
(210,619)
|
|
|
$
|
(180,934)
|
|
|
$
|
(475,587)
|
|
|
$
|
(353,871)
|
|
Add: non-cash
share-based compensation expense
|
|
25,586
|
|
|
11,762
|
|
|
74,312
|
|
|
28,641
|
|
Add: non-cash interest
expense on mandatorily
redeemable preferred shares
|
|
—
|
|
|
6,993
|
|
|
7,943
|
|
|
12,554
|
|
Add: non-cash interest
expense on liability related to
sale of future royalties
|
|
12,176
|
|
|
11,342
|
|
|
24,148
|
|
|
19,995
|
|
Add: change in fair
value of derivatives
|
|
1,490
|
|
|
(650)
|
|
|
1,700
|
|
|
5,131
|
|
Add: (gain) loss from
equity method investment
|
|
—
|
|
|
1,485
|
|
|
(5,261)
|
|
|
2,865
|
|
Add: collaboration and
license upfront expenses
|
|
—
|
|
|
—
|
|
|
7,943
|
|
|
—
|
|
Add: accrued
development milestone payments
|
|
500
|
|
|
—
|
|
|
5,500
|
|
|
—
|
|
Non-GAAP adjusted net
loss
|
|
$
|
(170,867)
|
|
|
$
|
(150,002)
|
|
|
$
|
(359,302)
|
|
|
$
|
(284,685)
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
GAAP to Non-GAAP adjusted net loss per share — basic and
diluted:
|
|
|
|
|
GAAP net loss per share
— basic and diluted
|
|
$
|
(3.23)
|
|
|
$
|
(3.08)
|
|
|
$
|
(7.48)
|
|
|
$
|
(6.15)
|
|
Add: non-cash
share-based compensation expense
|
|
0.39
|
|
|
0.20
|
|
|
1.17
|
|
|
0.51
|
|
Add: non-cash interest
expense on mandatorily
redeemable preferred shares
|
|
—
|
|
|
0.12
|
|
|
0.12
|
|
|
0.22
|
|
Add: non-cash interest
expense on liability related to
sale of future royalties
|
|
0.19
|
|
|
0.19
|
|
|
0.38
|
|
|
0.35
|
|
Add: change in fair
value of derivatives
|
|
0.02
|
|
|
(0.01)
|
|
|
0.03
|
|
|
0.09
|
|
Add: (gain) loss from
equity method investment
|
|
—
|
|
|
0.03
|
|
|
(0.08)
|
|
|
0.05
|
|
Add: collaboration and
license upfront fees
|
|
—
|
|
|
—
|
|
|
0.12
|
|
|
—
|
|
Add: accrued
development milestone payments
|
|
0.01
|
|
|
—
|
|
|
0.09
|
|
|
—
|
|
Non-GAAP adjusted net
loss per share — basic and
diluted
|
|
$
|
(2.62)
|
|
|
$
|
(2.55)
|
|
|
$
|
(5.65)
|
|
|
$
|
(4.94)
|
|
About NURTEC ODT
NURTEC ODT (rimegepant) is the first and only calcitonin
gene-related peptide (CGRP) receptor antagonist available in a
quick-dissolve ODT formulation that is approved by the U.S. Food
and Drug Administration (FDA) for the acute treatment of migraine
with or without aura and the preventive treatment of episodic
migraine in adults. The activity of the neuropeptide CGRP is
thought to play a causal role in migraine pathophysiology. NURTEC
ODT is a CGRP receptor antagonist that works by reversibly blocking
CGRP receptors, thereby inhibiting the biologic activity of the
CGRP neuropeptide. The recommended dose of NURTEC ODT is 75 mg,
taken as needed, up to once daily to treat or every other day to
help prevent migraine attacks. For more information about NURTEC
ODT, visit www.nurtec.com. The most common adverse reaction
was nausea and abdominal pain/indigestion. Avoid concomitant
administration of NURTEC ODT with strong inhibitors of CYP3A4,
strong or moderate inducers of CYP3A or inhibitors of P-gp or BCRP.
Avoid another dose of NURTEC ODT within 48 hours when it is
administered with moderate inhibitors of CYP3A4.
Indication
NURTEC ODT orally disintegrating tablets is a prescription
medicine that is used to treat migraine in adults. It is for the
acute treatment of migraine attacks with or without aura and the
preventive treatment of episodic migraine. It is not known if
NURTEC ODT is safe and effective in children.
Important Safety Information
Do not take NURTEC ODT if you are allergic to NURTEC
ODT (rimegepant) or any of its ingredients.
Before you take NURTEC ODT, tell your healthcare provider
(HCP) about all your medical conditions, including if you:
- have liver problems,
- have kidney problems,
- are pregnant or plan to become pregnant,
- breastfeeding or plan to breastfeed.
Tell your HCP about all the medicines you
take, including prescription and over-the-counter
medicines, vitamins, and herbal supplements.
NURTEC ODT may cause serious side effects including allergic
reactions, including trouble breathing and rash. This can happen
days after you take NURTEC ODT. Call your HCP or get emergency help
right away if you have swelling of the face, mouth, tongue, or
throat or trouble breathing. This occurred in less than 1% of
patients treated with NURTEC ODT.
The most common side effects of NURTEC ODT were
nausea (2.7%) and stomach pain/indigestion (2.4%). These are not
the only possible side effects of NURTEC ODT. Tell your HCP if you
have any side effects.
You are encouraged to report side effects of prescription
drugs to the FDA. Visit www.fda.gov/medwatch or
call 1-800-FDA-1088 or report side effects to Biohaven
at 1-833-4NURTEC.
Please click here for full Prescribing Information and Patient
Information.
Biohaven Contact
Dr. Vlad
Coric
Chief Executive Officer
Vlad.Coric@biohavenpharma.com
For Media
Mike
Beyer
Sam Brown Inc.
mikebeyer@sambrown.com
312-961-2502
NURTEC and NURTEC ODT are registered trademarks of Biohaven
Pharmaceutical Ireland DAC. Neuroinnovation is a trademark of
Biohaven Pharmaceutical Holding Company Ltd.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/biohaven-reports-second-quarter-2021-financial-results-and-recent-business-developments-301350770.html
SOURCE Biohaven Pharmaceutical Holding Company Ltd.