Biohaven Ltd 2026年季度报告

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 Commission File Number: 001-41477 Biohaven Ltd. (Exact name of registrant as specified in its charter) Not applicable (I.R.S. EmployerIdentification No.) (State or other jurisdiction ofincorporation or organization) (203) 404-0410 (Registrant’s telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required tofile such reports), and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company,” and "emerging growth company" in Rule12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of the ExchangeAct.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ As of August6, 2026, the registrant had 151,043,781 common shares, without par value per share, outstanding. TABLE OF CONTENTS Part IFinancial InformationItem 1:Unaudited Condensed Consolidated Financial StatementsCondensed Consolidated Balance SheetsCondensed Consolidated Statements of Operationsand Comprehensive LossCondensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial StatementsItem 2:Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3:Quantitative and Qualitative Disclosures About Market RiskItem 4:Controls and Procedures Part IIOther InformationItem 1:Legal Proceedings51Item 1A:Risk Factors51Item 2:Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities51Item 5.Other Information51Item 6:Exhibits52Signatures53 PARTI - FINANCIAL INFORMATION BIOHAVEN LTD. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except share amounts) BIOHAVEN LTD. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Amounts in thousands, except share and per share amounts) (Unaudited) BIOHAVEN LTD. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands) (Unaudited) BIOHAVEN LTD. (Amounts in thousands, except share and per share amounts) (Unaudited) 1.Nature of the Business and Basis of Presentation Biohaven Ltd. (“we,” “us," "our," "Biohaven" or the “Company”) was incorporated in Tortola, British Virgin Islands in May2022. Biohaven is a biopharmaceutical company focused on the discovery, development and commercialization of life-changingtreatments in key therapeutic areas, including immunology, obesity, neuroscience, and oncology. The Company is advancing itsinnovative portfolio of therapeutics, leveraging its proven drug development experience and multiple, proprietary drugdevelopment platforms. Biohaven's key clinical and preclinical programs include Kv7 ion channel modulation for epilepsy;Molecular Degrader of Extracellular Proteins (“MoDE”) and Targeted Removal of Aberrant Protein ("TRAP") extracellular proteindegradation for immunological diseases; and myostatin-activin pathway targeting agent for neuromuscular and metabolicdiseases, including obesity. The Company is subject to risks and uncertainties common to companies in the biotechnology industry, including, but notlimited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietarytechnology, compliance with government regulations and the ability to secure additional capital to fund operations. Productcandidates currently under development will require significant additional research and development ("R&D") efforts, includingprecl