7Baggers

Biohaven Pharmaceuticals
(NYSE:BHVN) 

BHVN stock logo

Biohaven Pharmaceutical Holding Company Ltd., a biopharmaceutical company, develops products candidates targeting neurological diseases and rare disorders in the United States. It offers NURTEC ODT (rimegepant) for the acute treatment of migraine, as well as id developing Rimegepant for preventive t...

Founded: 2013
Full Time Employees: 647
CEO: Vlad Coric  
Sector: Healthcare
Industry: Biotechnology
HealthcareALS
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2022-06-30 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 2017-09-30 2017-06-30 2017-03-31 
                         
      revenues:
    		                     
      product revenue
    		193,954,000 123,590,000 190,013,000 135,740,000 92,933,000 43,823,000 35,114,000 17,664,000 9,698,000 1,151,000            
      collaboration and other revenue
    		21,125,000 195,262,000                    
      total revenues
    		215,079,000 318,852,000                    
      yoy
    		                     
      qoq
    		-32.55%                     
      operating expenses:
    		                     
      cost of sales
    		35,741,000 26,342,000                    
      research and development
    		218,480,000 119,099,000 91,137,000 85,664,000 77,428,000 107,111,000 73,459,000 57,044,000 42,425,000 56,070,000 66,019,000 61,674,000 175,977,000 41,003,000 37,958,000 47,362,000 29,052,000 75,579,000 34,996,000 21,019,000 10,740,000 
      selling, general and administrative
    		250,455,000 227,243,000 219,458,000 164,511,000 170,057,000 159,523,000 122,387,000 119,533,000 124,802,000 95,601,000            
      total operating expenses
    		504,676,000 372,684,000 310,595,000 250,175,000 247,485,000 266,634,000 195,846,000 176,577,000 167,227,000 151,671,000 134,989,000 90,456,000 199,212,000 54,465,000 48,066,000 54,936,000 38,116,000 83,436,000 39,567,000 25,218,000 14,497,000 
      income from operations
    		-289,597,000 -53,832,000 -156,531,000 -139,949,000 -171,891,000 -235,673,000 -170,700,000 -163,157,000 -160,587,000 -150,944,000 -134,989,000 -90,456,000 -199,212,000 -54,465,000 -48,066,000 -54,936,000 -38,116,000     
      yoy
    		68.48% -77.16% -8.30% -14.22% 7.04% 56.13% 26.45% 80.37% -19.39% 177.14% 180.84% 64.66% 422.65%         
      qoq
    		437.96% -65.61% 11.85% -18.58% -27.06% 38.06% 4.62% 1.60% 6.39% 11.82% 49.23% -54.59% 265.76% 13.31% -12.51% 44.13%      
      operating margin %
    		-134.65% -16.88% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% NaN% NaN% NaN% NaN% 
      other income:
    		                     
      interest expense
    		-17,114,000 -17,216,000 -16,937,000 -9,047,000 -7,836,000 -7,731,000 -7,801,000 -4,608,000 -172,000      -5,000 -12,000 -13,000     
      interest expense on mandatorily redeemable preferred shares
    		-8,077,000 -7,917,000 -8,164,000 -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 -17,110,000 -15,488,000 -14,499,000 -13,508,000                
      change in fair value of derivatives
    		-111,197,000 3,604,000 760,000 -1,893,000 -1,490,000 -210,000 -12,250,000 -1,940,000              
      gain from equity method investment
    		     5,261,000                
      other income
    		2,229,000 81,000                    
      total other expense
    		-152,204,000 -38,762,000     -42,530,000 -29,482,000 -19,689,000 -21,299,000 -8,729,500 -15,388,000 -11,800,000 -7,730,000 -2,352,750 -6,344,000      
      income before provision for income taxes
    		-441,801,000 -92,594,000 -200,484,000 -174,526,000 -206,809,000 -261,504,000 -213,230,000 -192,639,000 -180,276,000 -172,243,000 -149,335,000 -105,844,000 -211,012,000 -62,195,000 -54,556,000 -61,280,000 -39,244,000     
      provision for income taxes
    		84,000 24,303,000 -903,000 -2,198,000 4,350,000 3,824,000 4,886,000 3,989,000 658,000 694,000 -71,000 323,000 58,000 109,000 194,000 161,000 25,000 87,000 55,000   
      net income
    		-441,885,000 -116,897,000 -199,581,000 -172,328,000 -211,159,000 -265,328,000 -218,116,000 -196,628,000              
      yoy
    		109.27% -55.94% -8.50% -12.36%                  
      qoq
    		278.01% -41.43% 15.81% -18.39% -20.42% 21.65% 10.93%               
      net income margin %
    		-205.45% -36.66% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% 
      net loss attributable to non-controlling interests
    		498,000 498,000                    
      deemed dividend upon repurchase of preferred shares in consolidated subsidiary
    		 -92,673,000                    
      net loss attributable to common shareholders of biohaven pharmaceutical holding company ltd.
    		-441,387,000 -209,072,000             -54,750,000 -61,441,000 -39,269,000 -85,462,000 -42,915,000   
      net income per share
    		-6.21 -2.97 -3 -2.63 -3.23 -4.27 -3.64 -3.27 -3.08 -3.07 -2.87 -2.04 -4.67 -1.41 -1.33 -1.53 -1.01 -2.32 -1.19 -1.78 -1.74 
      weighted-average common shares outstanding—basic and diluted
    		71,043,693 70,332,274 64,677,823 65,389,574 65,112,179 62,040,715 58,732,415 59,677,989 58,742,329 56,412,439 48,489,890 52,077,240 45,226,434 44,242,070 39,188,458 40,147,735 38,942,545 36,793,090 35,930,698 26,038,192 13,088,861 
      comprehensive loss:
    		                     
      other comprehensive loss, net of tax
    		-3,413    -129                 
      comprehensive loss
    		-445,298 -119,222 -162,261.75 -172,526 -211,288 -265,233                
      less: comprehensive loss attributable to non-controlling interests
    		498 498 -353 -512 -540 -360                
      comprehensive loss attributable to biohaven pharmaceutical holding company ltd.
    		-444,800 -118,724 -161,908.75 -172,014 -210,748 -264,873                
      other comprehensive income, net of tax
    		 -2,325 -58 -198  95                
      cost of goods sold
    		  35,949,000 25,514,000 17,339,000 12,862,000 9,968,000 4,244,000 3,058,000 424,000            
      gross profit
    		  154,064,000 110,226,000 75,594,000 30,961,000 25,146,000 13,420,000 6,640,000 727,000            
      yoy
    		  512.68% 721.36% 1038.46% 4158.73%                
      qoq
    		  39.77% 45.81% 144.16% 23.12% 87.38% 102.11% 813.34%             
      gross margin %
    		0% 0% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% 
      other expense
    		  -2,502,000 -5,000 -3,051,000 -1,700,000                
      total other income
    		  -23,831,500 -34,577,000 -34,918,000 -25,831,000           -1,128,000     
      less: net loss attributable to non-controlling interests
    		  -398,000 -512,000 -540,000 -360,000 -380,000 -1,439,000              
      net loss attributable to biohaven pharmaceutical holding company ltd.
    		  -199,183,000 -171,816,000 -210,619,000 -264,968,000 -217,736,000 -195,189,000              
      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 -3,955,000         
      non-cash interest expense on liability related to sale of future royalties
    		      -13,288,000 -11,955,000 -11,570,000 -8,425,000 -4,818,000 -7,308,000 -5,151,000 -6,813,000 -5,592,000 -5,633,000 -501,000     
      loss 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     
      other
    		      -819,500 -3,062,000 -119,000 -152,000 3,000 8,000 -16,000 -17,000 -151,000 -2,000 27,000     
      change in fair value of derivative liability
    		        650,000 -5,781,000 -895,000 -1,717,000 -1,263,000       223,000 289,000 
      net loss and comprehensive loss
    		        -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     
      general and administrative
    		          68,970,000 28,782,000 23,235,000 13,462,000 10,108,000 7,574,000 9,064,000 7,857,000 4,571,000 4,199,000 3,757,000 
      change in fair value of warrant liability
    		                     
      change in fair value of contingent equity liability
    		                     
      accretion of beneficial conversion feature on series a preferred shares
    		                     
      interest income
    		                  10,000   
      income from equity method investment
    		                     
      income before benefit from income taxes
    		                     
      benefit from income taxes
    		                   399,000 193,000 
      net income and comprehensive loss
    		                     
      net (income) loss attributable to non-controlling interests
    		                     
      net income attributable to common shareholders of biohaven pharmaceutical holding company ltd.
    		                   -46,446,000 -22,753,000 
      net income attributable to non-controlling interests
    		                     
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2022-06-30 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 2017-09-30 2017-06-30 2017-03-31 
                           
        assets
      		                     
        current assets:
      		                     
        cash and cash equivalents
      		235,807,000 169,065,000 171,945,000 501,409,000 306,267,000 464,714,000 132,149,000 316,231,000              
        marketable securities
      		317,679,000 433,410,000 192,648,000 19,031,000 59,840,000 101,547,000 223,185,000 229,983,000              
        trade receivable
      		352,449,000 328,342,000  252,952,000 168,637,000 156,769,000                
        inventory
      		106,561,000 91,281,000  74,864,000 64,058,000 58,329,000                
        prepaid expenses
      		100,360,000 104,891,000 88,838,000 61,698,000 48,871,000                 
        other current assets
      		61,485,000 44,096,000 33,946,000 34,427,000 18,907,000                 
        total current assets
      		1,174,341,000 1,171,085,000 876,254,000 944,381,000 666,580,000 900,696,000 603,406,000 708,285,000 362,562,000 474,446,000 328,281,000 423,170,000 474,352,000 227,373,000 272,339,000 182,980,000 227,602,000 114,673,000 179,503,000 208,616,000 53,169,000 
        property and equipment
      		15,727,000 14,534,000 14,690,000 10,409,000 10,885,000 11,258,000 9,340,000 8,802,000 8,979,000 8,933,000 8,152,000 7,460,000 7,433,000 7,157,000 6,248,000 4,891,000 3,792,000 2,936,000 267,000 92,000 43,000 
        intangible assets
      		75,112,000 55,910,000 56,438,000 56,968,000 57,501,000 58,226,000 39,087,000 39,811,000 40,535,000 41,259,000            
        other assets
      		121,069,000 130,188,000 129,830,000 119,437,000 110,927,000 32,979,000 33,966,000 23,251,000 9,706,000 4,073,000 2,493,000 1,351,000 24,000 36,000 11,000 64,000 43,000 32,000    
        total assets
      		1,386,249,000 1,371,717,000 1,077,212,000 1,131,195,000 845,893,000 1,003,159,000 686,975,000 782,015,000 424,255,000 532,669,000 344,264,000 439,087,000 490,908,000 245,080,000 290,012,000 195,091,000 239,290,000 126,135,000 184,670,000 214,255,000 60,191,000 
        liabilities and shareholders’ deficit
      		                     
        current liabilities:
      		                     
        accounts payable
      		64,149,000 56,202,000 51,683,000 49,437,000 60,002,000 64,571,000 48,476,000 43,976,000 17,044,000 29,703,000 14,071,000 11,562,000 13,502,000 8,210,000 10,752,000 4,658,000 4,027,000 9,051,000 8,753,000 5,986,000 4,022,000 
        accrued expenses and other current liabilities
      		545,307,000 457,412,000 420,019,000 350,339,000 276,630,000 268,720,000 165,784,000 126,267,000 118,123,000 76,770,000            
        current portion of mandatorily redeemable preferred shares
      		62,500,000 62,500,000 62,500,000 62,500,000 62,500,000 62,500,000 62,500,000 46,875,000 31,250,000 15,625,000            
        total current liabilities
      		671,956,000 576,114,000 534,202,000 462,276,000 399,132,000 395,791,000 276,760,000 217,118,000 166,417,000 122,098,000 66,173,000 47,206,000 44,669,000 23,693,000 19,534,000 15,264,000 12,755,000 16,865,000 22,113,000 17,521,000 15,442,000 
        long-term debt
      		764,983,000 634,106,000 626,720,000 619,267,000 274,138,000 270,756,000 267,458,000 264,135,000              
        liability related to sale of future royalties
      		388,027,000 377,998,000 367,645,000 357,655,000 347,384,000 339,020,000 328,350,000 318,594,000 160,805,000 151,454,000 144,111,000 136,799,000 129,487,000 124,332,000  111,919,000 106,282,000     
        mandatorily redeemable preferred shares
      		180,213,000 162,994,000 155,737,000 144,333,000 133,091,000 122,119,000 111,591,000 119,456,000 127,771,000 136,404,000 103,646,000 99,268,000 94,890,000         
        derivative liabilities
      		110,129,000      14,190,000 1,940,000              
        obligation to perform r&d services
      		29,972,000 36,016,000 50,571,000 47,155,000 55,353,000 60,530,000                
        other long-term liabilities
      		46,527,000 41,782,000 12,236,000 16,666,000 17,501,000 18,698,000 20,815,000 14,590,000 4,728,000 105,000 68,000 43,000 43,000 44,000 2,043,000 2,095,000 1,423,000 1,454,000 75,000 19,000 19,000 
        total liabilities
      		2,191,807,000 1,838,130,000 1,760,221,000 1,662,402,000 1,242,489,000 1,221,314,000 1,019,164,000 935,833,000 459,721,000 410,711,000 351,688,000 320,111,000 304,167,000 148,069,000 139,092,000 129,278,000 120,460,000 18,319,000 28,477,000 21,403,000 39,833,000 
        commitments and contingencies
      		                     
        contingently redeemable non-controlling interests
      		  60,000,000 60,000,000 60,000,000 60,000,000 60,000,000 60,000,000              
        shareholders’ deficit:
      		                     
        common shares, no par value; 200,000,000 shares authorized as of june 30, 2022 and december 31, 2021; 71,111,071 and 66,933,531 shares issued and outstanding as of june 30, 2022 and december 31, 2021, respectively
      		2,181,398,000                     
        additional paid-in capital
      		167,021,000 129,580,000 169,656,000 165,052,000 142,405,000 123,731,000 98,938,000 103,419,000 91,773,000 92,129,000 83,523,000 67,496,000 58,717,000 46,538,000 40,104,000 36,358,000 32,982,000 28,194,000 21,122,000 14,866,000 20,371,000 
        accumulated other comprehensive loss
      		-5,811,000 -2,398,000                    
        accumulated deficit
      		-3,143,541,000 -2,702,154,000 -2,585,755,000 -2,386,572,000 -2,214,756,000 -2,004,137,000 -1,739,169,000 -1,521,433,000 -1,326,244,000 -1,145,310,000 -972,373,000 -823,109,000 -716,942,000 -505,872,000 -443,568,000 -388,818,000 -327,377,000     
        total shareholders’ deficit attributable to biohaven pharmaceutical holding company ltd.
      		-800,933,000 -462,286,000 -739,380,000 -587,976,000 -453,877,000 -275,976,000 -390,370,000               
        non-controlling interests in consolidated subsidiaries
      		-4,625,000 -4,127,000 -3,629,000 -3,231,000 -2,719,000 -2,179,000 -1,819,000               
        total shareholders' deficit
      		-805,558,000 -466,413,000 -743,009,000 -591,207,000 -456,596,000 -278,155,000 -392,189,000               
        total liabilities and shareholders’ deficit
      		1,386,249,000 1,371,717,000  1,131,195,000 845,893,000 1,003,159,000                
        derivative liability
      		 9,120,000 13,110,000 15,050,000 15,890,000 14,400,000    650,000 37,690,000 36,795,000 35,078,000        223,000 
        common shares, no par value; 200,000,000 shares authorized as of march 31, 2022 and december 31, 2021; 70,540,802 and 66,933,531 shares issued and outstanding as of march 31, 2022 and december 31, 2021, respectively
      		 2,112,686,000                    
        trade receivables
      		  308,269,000     79,522,000 44,796,000 4,337,000            
        inventories
      		  80,608,000    39,563,000 20,131,000 8,970,000 4,582,000            
        equity method investment
      		      1,176,000 1,866,000 2,473,000 3,958,000 5,338,000 7,106,000 9,099,000 10,514,000 11,414,000 7,156,000 7,853,000 8,494,000 4,900,000 5,538,000 4,511,000 
        liabilities and shareholders' deficit
      		                     
        shareholders' deficit:
      		                     
        common shares, no par value; 200,000,000 shares authorized as of december 31, 2021 and 2020; 66,933,531 and 60,436,876 shares issued and outstanding as of december 31, 2021 and december 31, 2020, respectively
      		  1,676,792,000                   
        accumulated other comprehensive income
      		  -73,000 82,000 280,000 409,000 314,000 251,000              
        total liabilities and shareholders' deficit
      		  1,077,212,000    686,975,000  424,255,000             
        common shares, no par value; 200,000,000 shares authorized as of september 30, 2021 and december 31, 2020; 65,473,332 and 60,436,876 shares issued and outstanding as of september 30, 2021 and december 31, 2020, respectively
      		   1,633,462,000                  
        common shares, no par value; 200,000,000 shares authorized as of june 30, 2021 and december 31, 2020; 65,240,458 and 60,436,876 shares issued and outstanding as of june 30, 2021 and december 31, 2020, respectively
      		    1,618,194,000                 
        prepaid expenses and other current assets
      		     119,337,000 88,398,000 62,418,000 47,735,000 37,288,000 11,554,000 6,596,000 8,613,000 9,966,000 8,090,000 14,795,000 10,150,000 10,467,000 3,749,000 4,326,000 883,000 
        common shares, no par value; 200,000,000 shares authorized as of march 31, 2021 and december 31, 2020; 65,066,468 and 60,436,876 shares issued and outstanding as of march 31, 2021 and december 31, 2020, respectively
      		     1,604,021,000                
        trade receivables, net of allowance
      		      120,111,000               
        common shares, no par value; 200,000,000 shares authorized as of december 31, 2020 and 2019; 60,436,876 and 44,197,549 shares issued and outstanding as of december 31, 2020 and december 31, 2019, respectively
      		      1,249,547,000               
        liabilities and shareholders’ equity
      		                     
        shareholders’ equity
      		                     
        common shares, no par value; 200,000,000 shares authorized as of september 30, 2020 and december 31, 2019; 59,707,780 and 52,385,283 shares issued and outstanding as of september 30, 2020 and december 31, 2019, respectively
      		       1,205,384,000              
        total shareholders’ equity (deficit) attributable to biohaven pharmaceutical holding company ltd.
      		       -212,379,000              
        non-controlling interests
      		       -1,439,000              
        total shareholders' equity
      		       -213,818,000   -7,424,000    150,920,000       
        total liabilities and shareholders' equity
      		       782,015,000   344,264,000           
        cash
      		        261,061,000 428,239,000 316,727,000 416,574,000 465,739,000 217,407,000 264,249,000 168,185,000 217,452,000 104,206,000 175,754,000 204,290,000 52,286,000 
        common shares, no par value; 200,000,000 shares authorized as of june 30, 2020 and december 31, 2019; 59,525,565 and 52,385,283 shares issued and outstanding as of june 30, 2020 and december 31, 2019, respectively
      		        1,199,005,000             
        total shareholders’ deficit
      		        -35,466,000             
        common shares, no par value; 200,000,000 shares authorized as of march 31, 2020 and december 31, 2019; 58,387,948 and 52,385,283 shares issued and outstanding as of march 31, 2020 and december 31, 2019, respectively
      		         1,175,139,000            
        total shareholders’ equity
      		         121,958,000  118,976,000 186,741,000 97,011,000  65,813,000 118,830,000 107,816,000 156,193,000 192,852,000  
        total liabilities and shareholders’ equity
      		         532,669,000  439,087,000 490,908,000 245,080,000  195,091,000 239,290,000 126,135,000    
        liabilities and shareholders' equity
      		                     
        accrued expenses
      		          52,102,000 35,644,000 31,167,000 15,483,000 8,782,000 10,606,000 8,728,000 7,814,000 13,360,000 6,750,000 6,931,000 
        shareholders' equity:
      		                     
        common shares, no par value; 200,000,000 shares authorized as of december 31, 2019 and 2018; 52,385,283 and 44,197,549 shares issued and outstanding as of december 31, 2019 and december 31, 2018, respectively
      		          881,426,000           
        shareholders’ equity:
      		                     
        common shares, no par value; 200,000,000 shares authorized as of september 30, 2019 and december 31, 2018; 52,217,684 and 44,197,549 shares issued and outstanding as of september 30, 2019 and december 31, 2018, respectively
      		           874,589,000          
        common shares, no par value; 200,000,000 shares authorized as of june 30, 2019 and december 31, 2018; 51,501,614 and 44,197,549 shares issued and outstanding as of june 30, 2019 and december 31, 2018, respectively
      		            844,966,000         
        common shares, no par value; 200,000,000 shares authorized as of march 31, 2019 and december 31, 2018; 44,282,994 and 44,197,549 shares issued and outstanding as of march 31, 2019 and december 31, 2018, respectively
      		             556,345,000        
        non-recourse debt related to sale of future royalties
      		              117,515,000       
        warrant liability
      		                  6,289,000 3,863,000 1,234,000 
        common shares, no par value; 200,000,000 shares authorized as of december 31, 2018 and 2017; 44,197,549 and 36,057,748 shares issued and outstanding as of december 31, 2018 and december 31, 2017, respectively
      		              554,384,000       
        total liabilities, convertible preferred shares and shareholders' equity
      		              290,012,000       
        common shares, no par value; 200,000,000 shares authorized as of september 30, 2018 and december 31, 2017; 40,261,750 and 36,057,748 shares issued and outstanding as of september 30, 2018 and december 31, 2017, respectively
      		               418,273,000      
        common shares, no par value; 200,000,000 shares authorized as of june 30, 2018 and december 31, 2017; 40,094,291 and 36,057,748 shares issued and outstanding as of june 30, 2018 and december 31, 2017, respectively
      		                413,225,000     
        common shares, no par value; 200,000,000 shares authorized as of march 31, 2018 and december 31, 2017; 38,607,017 and 36,057,748 shares issued and outstanding as of march 31, 2018 and december 31, 2017, respectively
      		                 367,730,000    
        restricted cash
      		                     
        deferred offering costs
      		                    2,399,000 
        deferred tax assets
      		                   9,000 9,000 
        liabilities, convertible preferred shares and shareholders’ equity
      		                     
        notes payable, net of discount
      		                   4,785,000 4,489,000 
        contingent equity liability, non-current
      		                     
        notes payable to related parties
      		                    602,000 
        series a convertible preferred shares, no par value, 0 and 11,242,172 shares authorized as of september 30, 2017 and december 31, 2016, respectively; 0 and 4,948,369 shares issued and outstanding as of september 30, 2017 and december 31, 2016, respectively; aggregate liquidation preference of 0 and 45,976 as of september 30, 2017 and december 31, 2016, respectively
      		                     
        common shares, no par value; 200,000,000 and 38,000,000 shares authorized as of september 30, 2017 and december 31, 2016 , respectively; 35,930,698 and 13,088,500 shares issued and outstanding as of september 30, 2017 and december 31, 2016, respectively
      		                  310,635,000   
        total liabilities, convertible preferred shares and shareholders’ equity
      		                  184,670,000 214,255,000 60,191,000 
        contingent equity liability
      		                    22,313,000 
        series a convertible preferred shares, no par value, 0 and 11,242,172 shares authorized as of june 30, 2017 and december 31, 2016, respectively; 0 and 4,948,369 shares issued and outstanding as of june 30, 2017 and december 31, 2016, respectively; aggregate liquidation preference of 0 and 45,976 as of june 30, 2017 and december 31, 2016, respectively
      		                     
        common shares, no par value; 200,000,000 and 38,000,000 shares authorized as of june 30, 2017 and december 31, 2016 , respectively; 35,930,698 and 13,088,500 shares issued and outstanding as of june 30, 2017 and december 31, 2016, respectively
      		                   310,635,000  
        series a convertible preferred shares, no par value; 11,242,172 shares authorized as of march 31, 2017 and december 31, 2016; 9,358,560 and 4,948,369 shares issued and outstanding as of march 31, 2017 and december 31, 2016, respectively; aggregate liquidation preference of 86,951 and 45,976 as of march 31, 2017 and december 31, 2016, respectively
      		                    73,900,000 
        common shares, no par value; 38,000,000 shares authorized as of march 31, 2017 and december 31, 2016; 13,121,000 and 13,088,500 shares issued and outstanding as of march 31, 2017 and december 31, 2016, respectively
      		                    20,296,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2022-06-30 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 2017-09-30 2017-06-30 2017-03-31 
                             
          cash flows from operating activities:
        		                     
          net loss
        		-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    
          adjustments to reconcile net loss 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 4,707,000 615,000 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      
          capital expenditures
        		-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 -6,986,000 178,397,000 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   56,000 0 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            24,000 73,000 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 0   
          interest expense paid-in-kind on long-term debt
        		   3,331,000 2,854,000 2,795,000                
          loss from equity method investment
        		   0 0 -5,261,000 690,000 607,000 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    
          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 2,426,000 2,629,000 454,000 
          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           
          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
        		                  215,000 289,000 280,000 
          change in fair value of contingent equity liability
        		                  0 9,707,000 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   6,674,000 706,000 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 -1,986,000 500,000 1,515,000 
          beneficial conversion feature on series a preferred shares
        		                  0 0 12,006,000 
          accretion of beneficial conversion feature on series a preferred shares
        		                  0 8,006,000 4,000,000 
          issuance of series a preferred shares as payment of offering costs
        		                  0 0 1,242,000 
          issuance of common shares as payment of equity investment
        		                  0   
          purchases of property and equipment under financing lease
        		                     
          offering costs included in accounts payable and accrued expenses
        		               0      
          net increase in cash
        		            248,332,000 -46,842,000 96,064,000 -49,267,000   -28,536,000 152,004,000 28,721,000 
          cash at beginning of period
        		            0 264,249,000 0 0 0 131,468,000 0 0 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 -28,536,000 152,004,000 52,286,000 
          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
        		                  0 0 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
        		                     
          share-based compensation expense
        		               3,742,000 5,608,000 3,088,000 6,256,000 2,663,000 1,886,000 
          depreciation expense
        		                 17,000 11,000 6,000 4,000 
          net increase (decrease) in cash
        		                     
          deferred series a offering costs included in accrued expenses
        		                    65,000 
          non-cash amortization of fair value of warrant issued as consideration for service
        		                  23,000   
          decrease in restricted cash
        		                  0 60,000 67,000 
          proceeds from issuance of common shares upon completion of initial public offering, net of underwriting commissions and discounts
        		                  0   
          debt issuance costs included in accrued expenses
        		                     
          issuance of common share warrant as consideration for services
        		                  0   
          exercise of stock options
        		                  0   
          purchases of property and equipment included in accounts payable
        		                  -18,000   
          net income
        		                   -38,440,000 -18,753,000 
          adjustments to reconcile net income to net cash from operating activities:
        		                     
          income from equity method investment
        		                   348,000 218,000 
          payments of series a and initial public offering costs
        		                     
          issuance of common shares as payment for equity investment
        		                    352,000