Biocryst Pharmaceuticals Stock Earnings Reports

BioCryst reported a strong Q3 2025: ORLADEYO revenue of $159.1M (37% YoY) with continued prescription momentum and an 82% paid patient rate; management raised full-year ORLADEYO revenue guidance to $590–$600M. The company closed the sale of its European business, repaid Pharmakon debt, and ended the quarter with pro forma cash of ~ $294M and no term debt. Non-GAAP operating profit and net income improved materially, and non-GAAP OpEx guidance was trimmed to $430–$440M. Pipeline updates: BCX17725 (KLK5 inhibitor for Netherton syndrome) showed that the drug reaches the epidermis in healthy volunteers and remains well tolerated; enrollment is a bit slower so initial patient data is now expected in late Q1 2026. The DME program (avoralstat) will be considered for spin-out or partnership if early data are encouraging, reflecting a sharpened focus on rare diseases. Management reiterated belief in ORLADEYO’s resilience to new injectable competition, expects pediatric granules and the Astria acquisition (navenibart) — expected to close in Q1 2026 — to broaden HAE franchise and support long-term double-digit HAE growth, and plans to fund Astria via a financing arrangement with Blackstone enabling up to $400M on close.