Net Loss Per Share

6 Months Ended

Jun. 30, 2023

Basic and diluted net loss per share attributable to common shareholders of Biohaven was calculated as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:

Net loss	$	(90,346)	$	(203,287)	$	(160,838)	$	(300,319)
Denominator:
Weighted average common shares outstanding—basic and diluted(1)	68,248,023		39,375,944		68,227,564		39,375,944
Net loss per share — basic and diluted	$	(1.32)	$	(5.16)	$	(2.36)	$	(7.63)

(1) Prior to the Spin-Off from the Former Parent on October 3, 2022, Biohaven did not operate as an independent company. At the time of the Distribution, 39,375,944 shares of the Company's common stock were distributed to the Former Parent's shareholders, including common shares issued in connection with Former Parent share options that were exercised on October 3, 2022 and common shares issued in connection with Former Parent restricted share units that vested on October 3, 2022. This number of shares is being utilized for the calculation of basic and diluted earnings per share for all periods presented prior to the Spin-Off.

The Company's potential dilutive securities include share options which have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common shareholders of the Company is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect:


						As of June 30,
						2023
Options to purchase common shares						9,639,557