BHC Stock — Bausch Health Companies Inc.: Cash, EV, Pipeline

Share price

$5.67

Market cap

$2,120.5M

Cash

$1,825.0M

Enterprise value

$20,170.5M

Balance sheet

Cash	$1,825.0M
Debt	$19,875.0M
Net cash	-$18,050.0M
Enterprise value	$20,170.5M
Basic shares	373.9M shares
Fully diluted shares	411.6M shares
Fully diluted market cap	$2,333.5M
Cash per share	$4.88

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Mar 15 - Apr 26	Topical Ocular BL1332 low dose	Phase 2	Pain, Postoperative	—
Mar 15 - Apr 26	BL1107	Phase 2	Dry Eye Disease	—
Jun 12 - Jul 24	Brodalumab	Phase 1	Breast Cancer; Esophageal Cancer; Kidney Cancer	—
Nov 29, 2027 - Jan 10, 2028	plecanatide	Phase 2	Functional Constipation (FC)	—
Dec 13, 2027 - Jan 24, 2028	Larsucosterol	Phase 3	Hepatitis	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Larsucosterol

Phase 3 · Active

Partnerships DURECT Corporation (acquired Sep 2025; $84M total consideration + up to $350M sales-based milestones)

Indications

Severe alcohol-associated hepatitis (AH) (Phase 3)

Status note DURECT acquired Sep 2025 ($84M total consideration + up to $350M sales-based milestones); Breakthrough Therapy designation granted; registrational Phase 3 program in severe AH began Jan 2026.

Amiselimod

Phase 2 · Active

Target S1P

Indications

Ulcerative colitis (mild to moderate) (Phase 2)

Status note Phase 2 study in mild to moderate ulcerative colitis completed 2024; end-of-Phase-2 FDA meeting held 2024; EMA and PMDA feedback under review.

Rifaximin SSD

Phase 3 · Active

Indications

Hepatic encephalopathy prevention (early-stage liver cirrhosis) (Phase 3)

Status note Two global double-blind Phase 3 RED-C trials in early-stage liver cirrhosis failed to meet primary endpoints Jan 2026; company recognized ~$1.4B Salix goodwill impairment.

Per-asset detail extracted from the 10-Q filed 2026-07-30. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Larsucosterol
Lead indication	Hepatitis
Lead phase	Phase 3
Active trials	27
Collaborator trials	15

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07428538	Phase 3	Recruiting	Sponsor	BHC	—	Hepatitis	—
NCT05071716	Phase 3	Active, not recruiting	Sponsor	BHC	—	Hepatic Encephalopathy	—
NCT05297448	Phase 3	Active, not recruiting	Sponsor	BHC	—	Hepatic Encephalopathy	—
NCT07412496	Phase 2	Not yet recruiting	Sponsor	BHC	—	Pain, Postoperative	—
NCT07778888	Phase 2	Not yet recruiting	Sponsor	BHC	—	Dry Eye Disease	—
NCT07723924	Phase 2	Active, not recruiting	Sponsor	BHC	—	Functional Constipation (FC)	—
NCT06978244	Phase 1	Active, not recruiting	Sponsor	BHC	—	Ocular Pain	—
NCT06618547	Not disclosed	Not yet recruiting	Sponsor	BHC	—	Myopia	—
NCT05264623	Not disclosed	Active, not recruiting	Sponsor	BHC	—	Hyperopia	—
NCT04314375	Not disclosed	Recruiting	Sponsor	BHC	—	Ulcerative Colitis	—
NCT06305663	Not disclosed	Recruiting	Sponsor	BHC	—	Myopia	—
NCT07187297	Not disclosed	Recruiting	Sponsor	BHC	—	Wrinkle; Lax Skin; Lines Skin	—

Sponsor-matched active trials from ClinicalTrials.gov (27 as sponsor, 15 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 42 active trials for Bausch Health Americas, Inc. on ClinicalTrials.gov

No specialist-fund holders in 13F data for this company.

BHC — Bausch Health Companies Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials