Biohaven directors re-elected, EY appointed as auditors

Biohaven Ltd. (NYSE:BHVN), a pharmaceutical company based in the British Virgin Islands, announced the results of its 2025 Annual Meeting of Shareholders held on May 5, 2025. The company, which focuses on the development of treatments in the field of neurological diseases, disclosed the outcomes of the shareholder voting in a recent 8-K filing with the Securities and Exchange Commission. According to InvestingPro data, Biohaven maintains a healthy liquidity position with a current ratio of 3.49, though the company faces challenges with rapid cash burn. The stock, currently trading at $19.02, has experienced significant volatility, declining over 63% in the past six months.

During the Annual Meeting, shareholders voted on several key proposals. The first proposal involved the election of directors whose terms will expire at the 2028 Annual Meeting of Shareholders. Vlad Coric, M.D., and Kishan Mehta were among the directors re-elected. Dr. Coric received 61,631,560 votes in favor, with 16,931,405 against and 13,108 abstentions. Mehta secured 62,967,729 votes for, 15,578,703 against, and 29,641 abstained. Both nominees were elected with a significant number of broker non-votes totaling 14,066,128. With the company’s market capitalization at $1.96 billion and analysts maintaining a strong buy consensus, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research reports.

The second proposal was the ratification of Ernst & Young LLP as the company’s independent auditors for the fiscal year ending December 31, 2025. This proposal was approved with an overwhelming majority of 92,530,313 votes in favor, 100,413 against, and 11,475 abstentions, with no broker non-votes.

The third proposal was an advisory vote on the compensation of Biohaven’s named executive officers. This non-binding resolution passed with 67,470,380 votes for, 11,039,901 against, and 65,792 abstentions. Similar to the first proposal, there were 14,066,128 broker non-votes.

Biohaven’s SEC filing confirms the shareholder decisions made at the Annual Meeting, reflecting the company’s adherence to corporate governance practices. The filing also serves as a formal record of the shareholder votes, providing transparency and accountability to Biohaven’s investors. The information in this article is based on the company’s SEC filing.

In other recent news, Biohaven Ltd. has secured an investment agreement with Oberland Capital Management LLC for up to $600 million to support its clinical trials and potential commercialization of troriluzole, a treatment candidate for spinocerebellar ataxia (SCA). The initial funding tranche of $250 million is expected by April 30, 2025, with an additional $150 million contingent on regulatory milestones, including anticipated FDA approval. Piper Sandler has maintained an Overweight rating for Biohaven, citing the potential of its diverse pipeline, including the promising results from its IgG degrader platform, BHV-1300. Meanwhile, Morgan Stanley (NYSE:MS) has adjusted its price target for Biohaven from $69.00 to $63.00, maintaining an Overweight rating due to the anticipated FDA decision on troriluzole. H.C. Wainwright also reaffirmed a Buy rating with a $54 target, highlighting the strong Phase 1 results of BHV-1300, which showed significant IgG reductions. Bernstein analysts have expressed concerns about FDA downsizing impacting drug approvals, suggesting mature biotech firms as safer investments, while noting Biohaven’s vulnerability due to regulatory uncertainties. Despite these challenges, Biohaven’s focus on neurology and central nervous system disorders continues to attract analyst interest and investment.

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