10-K · February 26, 2026
BioCryst describes a rare-disease-focused strategy built around commercialization of ORLADEYO and selective BD to expand a pipeline of oral small molecules and injectable proteins. Financials show a clear inflection in…
Earnings analysis · 10-Q
BCRX earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
BioCryst Pharmaceuticals (BCRX) reported strong Q1 2026 earnings with revenue reaching $156.4 million, surpassing estimates and marking a year-over-year increase of 7.5%. EPS for the quarter was reported at 0.14,…
Read full summary
BioCryst Pharmaceuticals (BCRX) reported strong Q1 2026 earnings with revenue reaching $156.4 million, surpassing estimates and marking a year-over-year increase of 7.5%. EPS for the quarter was reported at 0.14, exceeding expectations and showcasing the company's recovery from previous quarters' losses. Despite a 5.8% decline in ORLADEYO revenue linked to the sale of European operations, strategic licensing agreements and growth in the domestic market helped drive results.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.14
- Segment
- ORLADEYO
- Segment
- Navenibart
- Segment
- BCX17725
What stood out
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Q1 Revenue Growth
Total revenue increased to $156.4 million from $145.5 million YoY, a 7.5% increase.
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EPS Over Estimate
Reported EPS of $0.14 compares favorably against an estimate of $0.10, highlighting an EPS surprise of 40%.
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ORLADEYO Revenue Boost
Domestic ORLADEYO revenue rose by $25.6 million YoY, indicating strong patient demand despite European business impacts.
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Licensing Revenue Growth
License revenue increased by $3 million due to quarterly royalty payments from BioCryst Ireland Limited.
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Successful Acquisition
The merger with Astria provided access to navenibart, now in Phase 3 development, enhancing growth potential.
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Debt Financing Completed
Secured $400 million from Blackstone to enhance liquidity post-merger.
What to watch
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Increased Operating Loss
Operating loss of $721.8 million due to non-cash charges related to in-process R&D from the navenibart acquisition.
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Decline in ORLADEYO Revenue
European ORLADEYO revenue dropped by $11.5 million due to the sale to Neopharmed, impacting overall sales.
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High Debt Load
Incurred $400 million in debt under the Blackstone Loan Agreement, impacting future financial flexibility.
Management's outlook
Maintained revenue guidance for full-year 2026 between $635 million and $660 million.
Earlier filings 4
10-Q · August 6, 2024
BioCryst reported Q2 revenue of $109.3M (three months ended June 30, 2024) up from $82.5M a year ago, produced operating income of $8.8M versus a $20.7M operating loss in Q2 2023, and delivered a GAAP loss per share of…
10-Q · November 8, 2023
BioCryst reported Q3 revenue of $86,742,000 (up $10,915,000 vs. Q3 2022) and GAAP loss per share of $(0.19) (improved $0.04 vs. $(0.23) in Q3 2022). Product sales drove results ($85,288,000) with very high gross margins…
10-Q · May 8, 2023
BioCryst reported Q1 revenue of $68,778,000, up from $49,923,000 a year earlier, with GAAP net loss narrowing to $(53,333,000) or $(0.28) per share from $(74,196,000) or $(0.40). Gross margin remained very high (product…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.