BioCryst Pharmaceuticals, Inc.
- Open
- 10.15
- Day high
- 10.22
- Day low
- 9.94
- Prev close
- 10.17
- Volume
- 321K
- Mkt cap
- $2.6B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -5.7
- P/S
- 2.7
- Yield
- —
- Per share
- —
BioCryst Pharmaceuticals, Inc. (BCRX) is a Healthcare company listed on NASDAQ. The stock is up 21% over the past year. Drillr has 1 published research article covering BCRX.
BioCryst Pharmaceuticals, Inc. (BCRX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BCRX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $0.15 | $0.30 | +94.6% | $218M | +19.1% |
| May 6, 2026 | $0.06 | $-0.03 | -150.0% | $156M | +3.5% |
| Feb 26, 2026 | $0.07 | $1.12 | +1500.0% | $407M | +168.7% |
| Feb 26, 2024 | $-0.24 | $-0.28 | -16.7% | $93M | +2.9% |
| Nov 2, 2023 | $-0.25 | $-0.19 | +24.0% | $87M | -0.7% |
| Aug 3, 2023 | $-0.25 | $-0.24 | +4.0% | $82M | +0.6% |
| May 3, 2023 | $-0.30 | $-0.28 | +6.7% | $69M | -5.0% |
| Feb 21, 2023 | $-0.19 | $-0.38 | -100.0% | $80M | +4.1% |
| Nov 1, 2022 | $-0.32 | $-0.23 | +28.1% | $76M | -0.6% |
| Aug 4, 2022 | $-0.36 | $-0.32 | +11.1% | $66M | +3.5% |
| May 5, 2022 | $-0.39 | $-0.40 | -2.6% | $50M | -2.8% |
| Feb 23, 2022 | $-0.31 | $-0.40 | -29.0% | $47M | -7.6% |
BCRX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 2, 2026 | Milne Jill C.director | Grant | 1,288 | $9.70 |
| Sep 2, 2026 | Frank Stevendirector | Grant | 1,288 | $9.70 |
| Sep 2, 2026 | Stonehouse Jon Pdirector | Grant | 644 | $9.70 |
| Sep 2, 2026 | McKee Amy Edirector | Grant | 644 | $9.70 |
| Sep 2, 2026 | MILANO VINCENTdirector | Grant | 1,159 | $9.70 |
| Jun 15, 2026 | McKee Amy Edirector | Grant | 15,294 | — |
| Jun 15, 2026 | MILANO VINCENTdirector | Grant | 15,294 | — |
| Jun 15, 2026 | Stonehouse Jon Pdirector | Grant | 33,540 | $8.50 |
| Jun 15, 2026 | Milne Jill C.director | Grant | 33,540 | $8.50 |
| Jun 15, 2026 | Galson Steven Kdirector | Grant | 33,540 | $8.50 |
| Jun 15, 2026 | LEVIN ALAN Gdirector | Grant | 15,294 | — |
| Jun 15, 2026 | MILANO VINCENTdirector | Grant | 33,540 | $8.50 |
| Jun 15, 2026 | SANDERS MACHELLEdirector | Grant | 15,294 | — |
| Jun 15, 2026 | Frank Stevendirector | Grant | 15,294 | — |
| Jun 15, 2026 | Milne Jill C.director | Grant | 15,294 | — |
Source: BCRX SEC Form 4 filings, latest Sep 2, 2026. For informational purposes only — not investment advice.
See the full BCRX insider & 13F page →BioCryst Pharmaceuticals, Inc. company profile
Overview
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) is a biotechnology company founded in 1986 and headquartered in Durham, North Carolina. The company went public in 1994 and has evolved from a drug discovery platform focused on structure-based drug design into a commercial-stage biopharmaceutical company. BioCryst specializes in developing oral, small-molecule medicines for rare diseases, with its flagship product ORLADEYO becoming a significant commercial success in treating hereditary angioedema. The company has transitioned from a research-focused entity burning substantial cash to approaching profitability, driven primarily by the strong commercial performance of its lead drug.
Business
BioCryst operates in the biotechnology sector, specifically focusing on rare disease therapeutics through small-molecule drug development. The company's approach centers on structure-based drug design, a method that uses detailed knowledge of protein structures to design molecules that can precisely target disease-causing proteins. The company's primary commercial product is ORLADEYO (berotralstat), an oral serine protease inhibitor approved for treating hereditary angioedema (HAE). HAE is a rare genetic disorder affecting approximately 1 in 50,000 people, characterized by recurrent episodes of severe swelling in the face, throat, hands, feet, and genitals that can be life-threatening if the airway becomes blocked. ORLADEYO works by inhibiting plasma kallikrein, an enzyme that plays a key role in the inflammatory cascade causing HAE attacks. This represents approximately 97% of the company's revenue. BioCryst also markets RAPIVAB (peramivir), an intravenous neuraminidase inhibitor for treating acute uncomplicated influenza. This product generates modest revenue, contributing roughly 3% of total sales. The company's pipeline includes several development-stage programs: BCX17725 for Netherton syndrome (a rare skin disorder), avoralstat for diabetic macular edema, and various complement system inhibitors. These pipeline assets represent potential future revenue streams as the company seeks to diversify beyond HAE treatment.
Revenue model
BioCryst generates revenue primarily through direct product sales of prescription pharmaceuticals. ORLADEYO, which accounts for 97% of revenue, is sold through specialty pharmacies and healthcare providers treating HAE patients. The company employs a global commercialization strategy, with 88% of ORLADEYO sales coming from the U.S. market and 12% from international markets including Europe and Japan. The business model benefits from several favorable dynamics. HAE is a chronic condition requiring long-term prophylactic treatment, creating recurring revenue from patients who typically remain on therapy for extended periods. The company has achieved a paid therapy rate of 84%, meaning most patients have their treatment covered by insurance rather than receiving free drug. Patient retention is strong, with 61% of patients continuing therapy for at least one year. Revenue growth is driven by expanding the patient base through physician education and market penetration, as well as improving the percentage of patients on paid versus free therapy. The company targets healthcare providers specializing in immunology, allergy, and hematology who treat HAE patients. Margin expansion factors include the high gross margins typical of specialty pharmaceuticals, operational leverage as fixed costs are spread over growing revenue, and the transition from free drug programs to paid therapy. Potential margin pressures could come from competitive threats, pricing pressure from payers, manufacturing cost increases, or the need for increased investment in sales and marketing to maintain growth. The Medicare Inflation Reduction Act has actually benefited the company by improving affordability for Medicare patients, accelerating the conversion from free to paid therapy.
Competitive moat
BioCryst's competitive position centers on ORLADEYO being the first and only oral prophylactic treatment for HAE. This represents a significant convenience advantage over existing injectable therapies, as patients prefer the ease of once-daily oral dosing versus frequent injections. The company has built strong relationships with the limited number of HAE specialists, with 97% of HAE-treating physicians considering prescribing ORLADEYO. However, the moat is relatively narrow and potentially vulnerable. The HAE market is small with only about 8,500 treated patients globally, limiting the total addressable market. While developing oral kallikrein inhibitors is technically challenging, larger pharmaceutical companies have the resources to potentially create competing oral therapies. The company faces competition from established injectable treatments and potential future oral competitors. The company's structure-based drug design platform provides some competitive advantage in developing additional rare disease treatments, but this represents more of a research capability than a sustainable moat. Patent protection for ORLADEYO provides temporary exclusivity, but this will eventually expire. BioCryst's position is strongest in the near term due to first-mover advantage and established physician relationships, but the long-term moat depends on successfully expanding into additional rare disease indications and maintaining technological leadership in small-molecule drug design.
Risks & safety
The company presents a moderate margin of safety profile with improving fundamentals but some structural concerns: • **Liquidity**: Strong with $317 million in cash and short-term investments, current ratio of 2.9x • **Debt burden**: High total liabilities of $932 million versus $480 million in assets, creating negative book value • **Cash flow**: Recently achieved positive operating cash flow in Q3 2024, expecting sustained positivity in 2025 • **Profitability trajectory**: Reached operating profitability, targeting full profitability in 2025-2026 • **Valuation**: Trading at 26.6x EV/EBITDA, which is elevated but justified by growth trajectory • **Revenue concentration**: Heavy dependence on single product (ORLADEYO) creates concentration risk • **Market size**: Limited by small HAE patient population, though expanding internationally
Recent development
Over the past few years, BioCryst has executed a successful transformation from a cash-burning research company to a profitable commercial enterprise. The company's primary strategic focus has been maximizing ORLADEYO's commercial potential through geographic expansion and market penetration improvements. Key developments include expanding ORLADEYO's global footprint to 15 countries and significantly improving the paid therapy rate from 7% to 84%, largely driven by better insurance coverage including Medicare improvements under the Inflation Reduction Act. The company has consistently raised revenue guidance, with ORLADEYO sales growing from $271 million in 2022 to an expected $580-600 million in 2025. Pipeline advancement has been another strategic priority. The company is preparing to file a pediatric NDA for ORLADEYO in 2025, targeting children aged 2-12, which could expand the addressable market by approximately 500 patients in the U.S. The company has also advanced BCX17725 for Netherton syndrome into clinical trials, representing a potential expansion into dermatological rare diseases. Financially, BioCryst has improved its capital structure by paying down $75 million in debt, reducing interest expenses by $23 million annually. The company has shifted from quarterly cash burn to approaching cash flow positivity, with management targeting sustainable profitability by 2026. The strategic goal is reaching $1 billion in global peak revenue by 2029 through continued ORLADEYO growth and successful pipeline development.
BCRX company profile · for informational purposes only — not investment advice.
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