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BCRX

BioCryst Pharmaceuticals, Inc.

BCRX

BioCryst Pharmaceuticals, Inc. • NASDAQ
$7.18 ▲ 1.13% (+0.08)
Market Cap $1.51 B
52w High $11.31
52w Low $6.00
Dividend Yield 0%
P/E -143.6
Volume 1.17M
Outstanding Shares 210.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $159.395M ▼ $127.282M ▼ $12.899M ▲ 8.092% ▲ $0.061 ▲ $32.126M ▲
Q2-2025 $163.353M ▲ $130.769M ▲ $5.085M ▲ 3.113% ▲ $0.02 ▲ $28.397M ▲
Q1-2025 $145.534M ▲ $119.739M ▼ $32K ▲ 0.022% ▲ $0 ▲ $24.583M ▲
Q4-2024 $131.534M ▲ $129.911M ▲ $-26.795M ▼ -20.371% ▼ $-0.13 ▼ $-1.233M ▼
Q3-2024 $117.085M $106.165M $-14.033M -11.985% $-0.07 $11.692M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $212.873M ▼ $446.424M ▼ $834.313M ▼ $-387.889M ▲
Q2-2025 $260.038M ▼ $457.188M ▼ $878.782M ▼ $-421.594M ▲
Q1-2025 $295.383M ▼ $480.047M ▼ $931.974M ▼ $-451.927M ▲
Q4-2024 $321.06M ▼ $490.42M ▼ $966.354M ▲ $-475.934M ▼
Q3-2024 $330.826M $491.254M $959.817M $-468.563M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $12.899M ▲ $41.111M ▼ $13.572M ▼ $-58.301M ▲ $-3.868M ▲ $39.767M ▼
Q2-2025 $5.085M ▲ $41.302M ▲ $29.127M ▲ $-73.686M ▼ $-16.956M ▼ $41.123M ▲
Q1-2025 $32K ▲ $-27.517M ▼ $27.095M ▲ $529K ▲ $558K ▼ $-27.66M ▼
Q4-2024 $-26.795M ▼ $-5.213M ▼ $17.797M ▲ $-4.021M ▼ $7.259M ▼ $-5.888M ▼
Q3-2024 $-14.033M $8.245M $8.489M $1.274M $18.859M $8.186M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Collaborative and Other Research and Development
Collaborative and Other Research and Development
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $240.00M ▲$140.00M ▼$160.00M ▲$160.00M ▲

Five-Year Company Overview

Income Statement

Income Statement BioCryst has shifted from being a pure development-stage company to a commercial one, with revenue growing steadily each year, mainly driven by its flagship drug ORLADEYO. The company’s basic profitability on each sale looks solid, as shown by a strong gap between revenue and direct costs. Operating losses have narrowed over time, and cash-based profit measures are now close to break-even, but the company is still posting accounting losses overall. In plain terms, the business model is starting to scale, yet it has not fully covered its ongoing R&D and operating costs.

Balance Sheet

Balance Sheet The balance sheet is the main area of concern. Total debt has climbed over the years and now clearly outweighs the company’s equity, which has turned negative, meaning liabilities exceed assets. Cash reserves are much smaller than both total assets and total debt, so the company appears financially stretched and reliant on future cash generation or financing to stay comfortable. This structure increases financial risk and makes BioCryst more sensitive to any setbacks in revenue or pipeline progress.

Cash Flow

Cash Flow BioCryst consistently spends more cash than it brings in from operations, although the gap has been gradually closing. Free cash flow has been negative every year, reflecting ongoing investment in commercialization and R&D rather than heavy spending on equipment or facilities. This pattern is typical for a growing biotech, but it means the company has depended on external funding and will need either stronger product cash flows or additional financing over time. The improving trend is encouraging, but sustainability is not yet proven.

Competitive Edge

Competitive Edge The company holds a differentiated position in hereditary angioedema with ORLADEYO as a convenient, once-daily oral preventive treatment in a market that historically relied on injections. Patient preference for oral options, strong persistence on therapy, and patent protection all support a meaningful competitive edge. At the same time, BioCryst is still much smaller than large pharmaceutical rivals, operates in a crowded rare-disease space, and is heavily reliant on one lead product today. Any competitive product launches, pricing pressure, or safety concerns could quickly change its position.

Innovation and R&D

Innovation and R&D BioCryst’s core strength lies in its structure-guided drug design platform, which has already produced a successful commercial drug and a pipeline of targeted oral therapies. The company is pushing deeper into complement-mediated diseases, aiming to build a franchise around oral complement inhibitors, which could significantly expand its addressable market if programs succeed. The planned acquisition of Astria Therapeutics and focus on additional HAE and complement assets show a clear, concentrated R&D strategy. However, these programs are still subject to the usual biotech risks: clinical trial delays or failures, regulatory hurdles, and the need for ongoing funding to see projects through.

Summary

Overall, BioCryst looks like a classic emerging commercial biotech: one successful product driving strong revenue growth and improving operating performance, but not yet enough to deliver consistent profits or comfortable cash self-sufficiency. Its scientific platform and pipeline offer meaningful upside potential, particularly in rare diseases and complement biology, and its oral-first approach is a clear differentiator. The flip side is a highly leveraged and fragile balance sheet, continuing cash burn, and significant dependence on a single main product. Future outcomes will largely hinge on sustained ORLADEYO growth, careful cost control, and clinical success in the complement portfolio, all of which carry substantial uncertainty typical for this stage of biotech development.

NEWS

November 6, 2025 · 8:00 AM UTC

BioCryst Presents New Data at ACAAI Highlighting Burden of HAE on Pediatric Patients and Caregivers and Sustained Reduction of Attacks in Children Treated with One Year of ORLADEYO® (berotralstat)

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November 5, 2025 · 7:01 AM UTC

BioCryst Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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November 5, 2025 · 7:00 AM UTC

BioCryst to Present at Upcoming Investor Conference

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November 3, 2025 · 7:00 AM UTC

BioCryst Reports Third Quarter 2025 Financial Results and Provides Business Update

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October 23, 2025 · 7:00 AM UTC

BioCryst to Present New Pediatric HAE Data at the American College of Allergy, Asthma & Immunology 2025 Annual Scientific Meeting

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