BioCryst Pharmaceuticals, Inc. (BCRX) Earnings
BioCryst Pharmaceuticals, Inc. is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $0.14. BCRX has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise +339.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| 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 | +3.8% |
| Nov 2, 2023 | $-0.25 | $-0.19 | +24.0% | $87M | +0.9% |
| Aug 3, 2023 | $-0.25 | $-0.24 | +4.0% | $82M | +1.9% |
| May 3, 2023 | $-0.30 | $-0.28 | +6.7% | $69M | -4.0% |
| Feb 21, 2023 | $-0.19 | $-0.38 | -100.0% | $80M | +5.7% |
| Nov 1, 2022 | $-0.32 | $-0.23 | +28.1% | $76M | +1.4% |
| 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% |
| Nov 3, 2021 | $-0.30 | $-0.33 | -10.0% | $41M | +1.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
2026 off to good start for Biochrist with strong execution on commercial and development programs, smooth integration of Astrea Therapeutics. Orladeo net revenue in line with expectations, pediatric indication launch starting. Discovered manufacturing issue delaying first product fulfillment but team working on it. Pipeline progress with NovenaBART trial and BCX17725 study. Non-GAAP total revenue up ~17% y-o-y, non-GAAP operating profit $54 million up 25% y-o-y. Integration of Astria Therapeutics ahead of expectations. License agreement with Neofar Med Gentile for NovenaBard in Europe, receiving $70 million upfront and up to $275 million in milestones.
Guidance
Maintaining full year 2026 Orladeo revenues between $625 million and $645 million. Expecting full year 2026 non-GAAP OPEX between $450 million and $470 million.
Segment performance
Orladeo net revenue for the quarter was $148.3 million, in line with expectations, with monthly new patient prescriptions slightly ahead of 2025 averages. Pediatric indication launch is beginning, with prescriptions received for all four product strengths of Orladeo pellets. For pipeline, progress on the pivotal Alpha Orbit trial for NovenaBART is exceeding expectations with enrollment to complete by end of next month, and phase one study for BCX17725 in Netherton syndrome is progressing with patients dosing and on track for proof-of-concept data by end of the year.
Risks & headwinds
Discovered manufacturing issue delaying first product fulfillment, but team working on it and not expecting delay to affect 2026 revenue guidance.
Analyst Q&A
Q: What are your expectations for the Decryptaban XR's pivotal readout and what profile do you expect? And what are your latest trends on pay-to-rate in each payer segment?
A: For Decryptibant, forecasting models predict good efficacy when reported in Q3, built into future forecast, and Orladeo on track to reach billion dollars in peak sales. On pay-to-rate, still in reauthorization process, converting patients from free to paid product as expected.
Q: On the Nevada Barred Outlicensing Deal, how much of the 225 million milestone tool is tied to regulatory versus commercial thresholds and where you expect that royalty rate to settle at scale? And on pipeline, next key decision points for bringing programs forward?
A: Not breaking down milestones exactly but confident in royalty rate as team developed commercial team. Focused on NovenaBart in late stage and BCX1775, with Sandeep on board to provide future pipeline updates.
Q: Feedback on impact of competing launches on Orladeo retention and manufacturing issue impact on pediatric launch?
A: Competing launches not affecting Orladeo, retention rates in line with past expectations. Manufacturing issue not changing guidance, more info expected later this quarter but not affecting guidance.
Q: Event of art phase three enrollment learnings and manufacturing issue resolution details?
A: Enrollment in art phase three reflects appetite for long-acting injectables, potential to switch patients. Manufacturing issue with Orladeo pellets is with different manufacturer, not FDA issue, working to resolve root cause, not expected to be long-term problem.
Q: Expectations for Phase 3 Naventabar data?
A: Expecting good results with attack rate reduction, patients getting to near attack-free state with three- or six-month dosing.
Q: Orladeo prescribers growth, pediatric product fulfillment timeline, and Netherton patient info?
A: Prescribers growth in same range as 2025. Pediatric product fulfillment timing to be known more this quarter, expected to resolve quickly. Netherton syndrome has ~3,000+ patients in US, data by year end from up to 12 patients in study.
Q: Netherton data expected by year end and prophy competition impact on Orladeo?
A: Data by year end from up to 12 patients in Netherton study. Prophy competition impact on Orladeo is minor, most switching hitting Taxairo not Orladeo.
Q: Ex-US sales for Oral-B and Novena Bart?
A: Ex-US sales mostly from US, committed to global expansion but majority revenue from US. Novena Bart expected to have similar trend with partners in European markets.
Q: Pediatric pellet side proactive work on reimbursement and conversion to paid drug?
A: Proactively working on reimbursement while resolving manufacturing, patient services team to help convert demand to paid therapy once product supply is available