BHVN Stock Cash Flow Statements

Biohaven Pharmaceuticals Quarterly Cash Flow Statements Chart

Quarterly

Annual

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Biohaven Pharmaceuticals Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-03-31

cash flows from operating activities:
net income	-441,885,000	-116,897,000	-199,581,000	-173,228,000	-210,259,000	-265,328,000	-218,116,000	-196,628,000	-180,934,000	-172,937,000	-149,264,000	-106,167,000	-211,070,000	-62,304,000	-54,750,000	-61,441,000	-39,269,000	-85,462,000	-18,753,000
adjustments to reconcile net income to net cash from operating activities:
non-cash share-based compensation expense	40,266,000	81,828,000	24,849,000	27,966,000	25,586,000	48,726,000	14,208,000	14,565,000	11,762,000	16,879,000	20,117,000	9,971,000	17,554,000	7,330,000
interest expense on mandatorily redeemable preferred shares		7,917,000		8,144,000	8,042,000	7,943,000
interest expense on liability related to sale of future royalties	18,045,000	17,314,000		15,488,000	14,499,000	13,508,000
deferred interest paid-in-kind on long-term debt	6,587,000	6,450,000
acquisition of ipr&d asset
issuance of common shares as payment for license agreement	0	1,779,000
change in fair value of derivatives	111,197,000	-3,604,000	-760,000	1,893,000			12,250,000
gain from equity method investment
depreciation and amortization	5,381,000	4,402,000	7,947,000	5,707,000	6,224,000	5,054,000	4,822,000
change in obligation to perform r&d services	-5,384,000	-6,942,000	-11,349,000	-9,213,000
other non-cash items	1,019,000	-646,000	-1,891,000	-1,332,000	1,632,000	461,000		-1,621,000	1,225,000	476,000	209,000	166,000	138,000	133,000	178,000	38,000
changes in operating assets and liabilities:
trade receivable	-24,107,000	-20,073,000
inventory	-5,691,000	-23,397,000
prepaid expenses, other current assets, and other assets	-10,319,000	-24,954,000
accounts payable	7,948,000	4,518,000	1,996,000	-4,866,000	-8,818,000	13,903,000	4,909,000	26,964,000	-13,541,000	14,475,000	2,509,000	-1,307,000	4,659,000	-2,542,000	5,453,000	631,000	-4,918,000	4,224,000	2,656,000
accrued expenses, other current liabilities, and other liabilities	77,077,000	48,661,000
net cash from operating activities	-134,036,000	-23,644,000	-193,392,000	-204,992,000	-227,042,000	-205,674,000	-212,238,000	-164,106,000	-175,813,000	-150,722,000	-100,447,000	-70,128,000	-159,887,000	-46,869,000	-33,416,000	-48,736,000
capex	-1,881,000	-512,000	-52,000	-9,000	-470,000	-1,187,000	-869,000	-120,000	-365,000	-1,016,000	-897,000	-189,000	-410,000	-1,038,000	-1,531,000	-1,133,000
free cash flows	-135,917,000	-24,156,000	-193,444,000	-205,001,000	-227,512,000	-206,861,000	-213,107,000	-164,226,000	-176,178,000	-151,738,000	-101,344,000	-70,317,000	-160,297,000	-47,907,000	-34,947,000	-49,869,000
cash flows from investing activities:
purchases of marketable securities	0	-246,816,000
sales of marketable securities			0
maturities of marketable securities	59,835,000	3,058,000	8,000,000
purchases of property and equipment	-1,881,000	-512,000	-52,000	-9,000	-470,000	-1,187,000	-869,000	-120,000	-365,000	-1,016,000	-897,000	-189,000	-410,000	-1,038,000	-1,531,000	-1,133,000
payment for intangible asset
payment for ipr&d asset acquisition
net cash from investing activities	56,969,000	-244,270,000	-174,314,000	40,230,000	40,867,000	119,769,000	4,954,000	-250,353,000	-1,115,000	-23,366,000	-2,147,000	-189,000	-410,000	-1,038,000	-6,531,000	-1,133,000
cash flows from financing activities:
proceeds from issuance of long-term debt			0				0
proceeds from issuance of common shares	0	252,000,000	0	0	0	308,743,000	0	0	0	283,333,000	0	21,221,000			135,125,000	0	0	55,000,000
proceeds from obligation to perform r&d services			0	0	0	100,000,000	0
proceeds from the issuance of series b preferred shares	14,579,000	14,579,000		17,585,000	17,585,000	17,585,000
proceeds from exercise of share options	7,180,000	2,803,000				1,382,000
payments for term loan, finance leases, and other	-4,833,000	-1,391,000
net cash from financing activities	141,926,000	267,991,000	37,064,000	361,598,000	25,172,000	421,015,000	19,367,000	472,306,000	11,551,000	285,600,000	2,747,000	22,152,000	408,629,000	1,065,000	136,011,000	602,000	147,846,000	56,003,000	37,951,000
effect of exchange rate changes on cash, cash equivalents and restricted cash	-2,676,000	-46,000		-158,000	-203,000	14,000
net increase in cash, cash equivalents and restricted cash	62,183,000	31,000	-330,484,000	196,678,000	-161,206,000	335,124,000	-187,802,000
cash, cash equivalents and restricted cash at beginning of period	0	174,343,000	0	0	0	134,231,000	0
cash, cash equivalents and restricted cash at end of period	62,183,000	174,374,000	-330,484,000	196,678,000	-161,206,000	469,355,000	-187,802,000
deferred interest on mandatorily redeemable preferred shares
deferred interest on liability related to sale of future royalties
issuance of common shares as payment for license and consulting agreements			0	3,686,000	0	4,243,000
trade receivables			-55,317,000	-84,315,000	-11,868,000	-36,658,000	-40,589,000	-34,726,000	-40,459,000	-4,337,000
inventories			11,199,000	-16,255,000	-1,480,000	-17,566,000	-19,841,000	-11,193,000	-3,322,000	-3,609,000
prepaid expenses and other current assets						-24,808,000	-35,281,000	-11,708,000	-8,647,000	-25,733,000	-4,958,000	2,017,000	1,353,000	-1,876,000	6,705,000	-4,645,000
other assets					-79,021,000	-811,000	-1,000	-62,000	-3,000	20,000	108,000	-327,000	12,000	-25,000	53,000	-21,000
accrued expenses and other current liabilities					3,202,000	60,666,000	26,669,000	23,867,000	38,683,000	2,860,000
other long-term liabilities					-15,387,000	-12,751,000	7,738,000	0	25,000	37,000	25,000	0	-1,000	-1,999,000	-52,000	672,000			6,000
purchase of marketable securities
payments for leasehold improvements							0	0	0	-1,600,000
payments for intangible assets							0	-20,000,000	-750,000	-20,750,000
proceeds from sale of future royalties							0								0	0
proceeds from sale of contingently redeemable non-controlling interests							0
proceeds from issuance of mandatorily redeemable preferred shares											0	0
proceeds from exercise of warrants											0	0
proceeds from exercise of share options and employee share purchase plan			21,977,000	6,263,000
payments for term loan, finance leases and other
effect of exchange rates on cash, cash equivalents and restricted cash
supplemental disclosure of cash flow information:
cash paid for interest							4,419,000												25,000
cash paid for income taxes							1,460,000				-12,000	407,000	20,000	408,000	60,000	250,000	-57,000	80,000
interest expense paid-in-kind on long-term debt				3,331,000	2,854,000	2,795,000
(gain) income from equity method investment				0	0	-5,261,000
accrued expenses and other liabilities
proceeds from the sale of contingently redeemable non-controlling interests
prepaid expenses
other current assets
sales and maturities of marketable securities					41,337,000	120,956,000
payment of term loan commitment fee					0	-3,750,000
payment of principal for finance leases					-1,264,000	-1,250,000
payment of term loan					0	-1,195,000
other
change in fair value of derivative liability						210,000			-650,000	5,781,000	895,000	1,717,000
payments of issuance costs						-500,000		-1,800,000	-160,000	-340,000	0	-633,000				0
non-cash interest expense on mandatorily redeemable preferred shares							7,759,000	7,310,000	6,993,000	5,561,000	4,378,000	4,378,000
non-cash interest expense on liability related to sale of future royalties							13,288,000	11,955,000	11,570,000	8,425,000	7,308,000	7,308,000	5,151,000	6,813,000		5,633,000
non-cash interest expense on long-term debt
non-cash issuance of common shares as payment for license agreement
change in fair value of warrant liability															0	0	0	1,182,000	454,000
income from equity method investment							690,000	607,000	1,485,000	1,380,000	1,768,000	1,993,000	1,415,000	900,000	742,000	697,000	641,000	728,000	218,000
purchase of equity method investment															-5,000,000	0
proceeds from issuance of common stock related to sale of future royalties															0	0
payments of issuance costs and term loan commitment fee
payments of principal for finance leases
non-cash expense related to license agreement
proceeds from exercise of stock options								3,460,000	11,748,000	2,607,000	2,747,000	1,564,000	148,000	1,065,000	886,000	602,000	833,000	1,003,000
repayment of principal for finance leases								-954,000
net increase in cash and restricted cash									-165,377,000	111,512,000	-99,847,000
cash and restricted cash at beginning of period									0	317,727,000	0
cash and restricted cash at end of period									-165,377,000	429,239,000	-99,847,000
cash									-167,178,000	428,239,000
restricted cash									801,000	1,000,000
total cash and restricted cash in the statement of cash flows									-165,377,000	429,239,000
supplemental disclosure of non-cash investing and financing activities:
deferred offering costs included in accounts payable										160,000
intangible asset costs included in accounts payable										20,750,000
non-cash interest expense																			280,000
change in fair value of contingent equity liability																			3,375,000
deferred tax assets
accrued expenses											16,458,000	4,477,000	15,684,000	6,701,000	-1,824,000	1,878,000			2,991,000
payments of related party notes payable
repayment of notes payable
deferred offering costs included in accounts payable and accrued expenses																		2,987,000	1,515,000
beneficial conversion feature on series a preferred shares																			12,006,000
accretion of beneficial conversion feature on series a preferred shares																			4,000,000
issuance of series a preferred shares as payment of offering costs																			1,242,000
issuance of common shares as payment of equity investment
purchases of property and equipment under financing lease
offering costs included in accounts payable and accrued expenses																0
level 1
liabilities:
derivative liability
net increase in cash													248,332,000	-46,842,000	96,064,000	-49,267,000			28,721,000
cash at beginning of period													0	264,249,000	0	0	0	131,468,000	23,565,000
cash at end of period													248,332,000	217,407,000	96,064,000	-49,267,000	113,246,000	104,206,000	52,286,000
•
balance at december 31, 2017														4,021,000
change in fair value														1,182,000
reclassification to equity														-5,203,000
balance at march 31, 2018
non-cash interest expense on non-recourse debt related to sale of future royalties
fair value of contingent equity liability under license agreements
fair value of warrants issued as consideration for license agreement
proceeds from issuance of series a preferred shares																			40,000,000
proceeds from borrowings
payments of offering costs
payments of debt issuance costs
advanced payment for the second closing of series a preferred stock
deferred offering costs included in accrued expenses
series a convertible preferred share offering costs included in accrued expenses
issuance of warrants to guarantor and co-guarantor of notes payable
issuance of series a preferred shares in settlement of contingent equity liability
issuance of notes payable to related parties in connection with acquisition of bpi
building
office equipment
computer software
computer equipment
share-based compensation expense																3,742,000	5,608,000	3,088,000	1,886,000
warrant liability
depreciation expense																		17,000	4,000
deferred series a offering costs included in accrued expenses																			65,000
decrease in restricted cash																			67,000
issuance of common shares as payment for equity investment																			352,000
contingent equity liability

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