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BioCryst Announces Preliminary Full Year 2025 ORLADEYO® (berotralstat) Net Revenue of $601 Million (+37 percent y-o-y), Beating Prior Guidance Range

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–Excluding European ORLADEYO revenue for the full year 2025, preliminary 2025 ORLADEYO net revenue w...

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AI Summary

BCRX's ORLADEYO revenue for 2025 reached $601 million, exceeding guidance. 2026 ORLADEYO revenue expected between $625 million and $645 million. Acquisition of Astria Therapeutics slated for Q1 2026 to enhance growth. BCRX maintains profitability outlook for 2026, even post-acquisition expenses. Company's strong demand for ORLADEYO solidifies its market position.

Sentiment Rationale

BCRX's revenue growth and robust future guidance indicate positive momentum. Historical performance shows strong adoption of ORLADEYO, contributing to a solid revenue stream.

Trading Thesis

The anticipated acquisition will likely strengthen BCRX's market presence and product lineup beyond 2026. The long-term trajectory looks favorable due to ongoing pipeline developments.

Market-Moving

  • BCRX's ORLADEYO revenue for 2025 reached $601 million, exceeding guidance.
  • 2026 ORLADEYO revenue expected between $625 million and $645 million.
  • Acquisition of Astria Therapeutics slated for Q1 2026 to enhance growth.

Key Facts

  • BCRX's ORLADEYO revenue for 2025 reached $601 million, exceeding guidance.
  • 2026 ORLADEYO revenue expected between $625 million and $645 million.
  • Acquisition of Astria Therapeutics slated for Q1 2026 to enhance growth.
  • BCRX maintains profitability outlook for 2026, even post-acquisition expenses.
  • Company's strong demand for ORLADEYO solidifies its market position.

Companies Mentioned

  • ASTR (ASTR)
  • BIIB (BIIB)
  • AMGN (AMGN)

Corporate Developments

The article provides key financial data, future guidance, and strategic initiatives affecting BCRX's valuation, signifying strong potential for investor confidence.

BioCryst Pharmaceuticals Reports Strong Preliminary 2025 Revenues Driven by ORLADEYO® Sales

BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) has announced preliminary, unaudited net revenues for ORLADEYO® (berotralstat) for the full year 2025, totaling $601 million, representing a robust 37% year-over-year increase. This performance surpassed the company’s previous guidance of $590 million to $600 million.

Fourth Quarter and Annual Revenue Highlights

For the fourth quarter of 2025, BioCryst recorded net revenues of $151 million, reflecting a 22% increase year-over-year. Excluding European revenues, fourth-quarter revenues showed a significant growth of 36% on a comparable basis.

  • 2025 Full Year ORLADEYO Revenue: $601 million (+37% y-o-y)
  • Fourth Quarter ORLADEYO Revenue: $151 million (+22% y-o-y)
  • Comparable Fourth Quarter Revenue Growth: +36% (excluding European ORLADEYO revenue)
  • Preliminary Net Revenue (excluding Europe): $563 million (+43% y-o-y)

2026 Financial Outlook

Looking ahead, BioCryst anticipates net ORLADEYO revenues for 2026 to range between $625 million and $645 million. The company also provided guidance for total revenues, including revenues from its antiviral drug RAPIVAB® (peramivir injection), expecting them to be between $635 million and $660 million.

BioCryst plans to maintain non-GAAP profitability in 2026, despite expected operational expenses related to the impending acquisition of Astria Therapeutics, which is set to close in the first quarter of 2026.

Operating Expense and Cash Position

The company projects non-GAAP operating expenses for 2026 to be between $380 million and $390 million, not accounting for inclusion of Astria's expenses post-acquisition. Additional projected costs related to the Astria acquisition are expected to range from $70 million to $80 million.

As of December 31, 2025, BioCryst reported preliminary cash, cash equivalents, and restricted investments amounting to $338 million, marking a strong financial position heading into 2026.

Leadership Insights

Charlie Gayer, President and CEO of BioCryst, stated, “2025 was a transformative year for BioCryst. Continued strong demand for ORLADEYO and outstanding patient outcomes have solidified its position as the leading oral, once-daily prophylaxis treatment for HAE. The successful sale of our European ORLADEYO business further strengthened our financial position.”

Gayer further emphasized the company's commitment to innovative treatments for rare diseases, indicating confidence in significant business development opportunities in the future.

Upcoming Presentation

BioCryst will present its latest developments at the 44th Annual J.P. Morgan Healthcare Conference on January 12, 2026, at 1:30 p.m. ET in San Francisco. Stakeholders can access the live audio webcast through the Investors section of BioCryst’s website at www.biocryst.com.

About BioCryst Pharmaceuticals

BioCryst is a biotechnology company focused on developing and commercializing treatments for hereditary angioedema (HAE) and other rare diseases. Its primary product is ORLADEYO®, the first oral, once-daily plasma kallikrein inhibitor. The company continues to advance its pipeline of innovative therapies.

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