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1. Company Snapshot

1.a. Company Description

BioCryst Pharmaceuticals, Inc., a biotechnology company, discovers novel, oral, and small-molecule medicines.The company markets peramivir injection, an intravenous neuraminidase inhibitor for the treatment of acute uncomplicated influenza under the RAPIVAB, RAPIACTA, and PERAMIFLU names; and ORLADEYO, an oral serine protease inhibitor to treat hereditary angioedema.It is also developing BCX9930, an oral factor D inhibitor, which is in Phase II clinical trial for complement-mediated diseases; BCX9250, an oral activin receptor-like kinase-2 inhibitor that is in Phase I clinical trial to treat fibrodysplasia ossificans progressiva; and Galidesivir, a RNA dependent-RNA polymerase inhibitor, which is in Phase I clinical trial to treat various RNA viruses, including Marburg, Yellow Fever, Ebola, and Zika.


The company has collaborations and in-license relationships with the Torii Pharmaceutical Co., Ltd.; Seqirus UK Limited; Shionogi & Co., Ltd.; Green Cross Corporation; Mundipharma International Holdings Limited; National Institute of Allergy and Infectious Diseases; Biomedical Advanced Research and Development Authority; the U.S. Department of Health and Human Services; and The University of Alabama at Birmingham, as well as Albert Einstein College of Medicine of Yeshiva University and Industrial Research, Ltd.BioCryst Pharmaceuticals, Inc.was founded in 1986 and is headquartered in Durham, North Carolina.

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1.b. Last Insights on BCRX

BioCryst Pharmaceuticals' recent performance was impacted by several factors. The company's Q3 2025 earnings call revealed a 37% year-over-year increase in ORLADEYO net revenue, reaching $159.1 million. However, Fisher Asset Management LLC decreased its stake in the company by 8.8% during Q2. Additionally, BioCryst announced the acquisition of Astria Therapeutics, expected to close in Q1 2026, with early termination of the HSR waiting period. The company also raised its ORLADEYO FY 2025 revenue guidance. (Source: BioCryst Pharmaceuticals, Inc. Q3 2025 Earnings Call Transcript)

1.c. Company Highlights

2. BioCryst's Q3 2025 Earnings: A Strong Performance

BioCryst reported a robust third quarter of 2025, with ORLADEYO revenue reaching $159.1 million, representing a 37% year-over-year growth, driven primarily by $141.6 million in U.S. sales. The company's non-GAAP operating profit surged 107% year-over-year to $51.7 million, resulting in non-GAAP net income of $35.6 million and non-GAAP EPS of $0.17 per share, slightly above the actual EPS of $0.06 reported, which was near the estimated $0.07. The company finished the quarter with $269 million in cash and paid off its Pharmakon debt of approximately $200 million after closing the sale of its European business.

Publication Date: Nov -30

📋 Highlights
  • ORLADEYO Revenue Surge: Q3 revenue reached $159.1 million (+37% YoY), driven by $141.6 million in U.S. sales.
  • Non-GAAP Profitability Leap: Operating profit hit $51.7 million (+107% YoY), with net income of $35.6 million and EPS of $0.17.
  • Debt Payoff & Cash Reserves: $200 million Pharmakon debt settled, leaving $269 million in cash post-European business sale.
  • Pipeline Expansion: Acquisition of Astria Therapeutics adds navenibart, projected to drive double-digit HAE revenue growth through 2030s.
  • Long-Term Revenue Outlook: Market simulation forecasts $1 billion peak revenue by 2029, supported by ORLADEYO’s 60% patient retention and pediatric approval in December.

Pipeline Progress and Strategic Developments

The company is making significant strides with its pipeline, including BCX17725, a novel investigational KLK5 inhibitor for Netherton syndrome, with early data expected in a small number of patients later in Q1 next year. Moreover, the proposed acquisition of Astria Therapeutics is expected to close in Q1 next year, adding a late-stage asset, navenibart, to BioCryst's portfolio. As stated by the company, "I'm excited and confident that the team will continue to deliver innovative treatments for patients with rare diseases, creating real value," reinforcing the potential of these developments.

ORLADEYO Performance and Future Prospects

ORLADEYO continues to be the most differentiated prophylaxis therapy for patients with HAE, with a growing prescriber base. The company is enthusiastic about the prospect of adding navenibart to its portfolio, expecting it to drive double-digit HAE revenue growth well into the 2030s. BioCryst's market simulation predicts $1 billion in peak revenue for BioCryst in 2029. The pediatric approval expected in mid-December will open up new opportunities, with around 500 patients diagnosed with HAE under age 12.

Valuation and Growth Prospects

Analysts estimate next year's revenue growth at 7.5%. With a P/S Ratio of 2.52 and an EV/EBITDA of 26.58, the market seems to be pricing in a certain level of growth. The ROE of 1.93% and ROIC of 31.57% indicate a relatively efficient use of capital. However, the Net Debt / EBITDA ratio of 8.0 raises some concerns about the company's leverage. Overall, BioCryst's strong Q3 performance and promising pipeline developments position the company for continued growth and profitability.

3. NewsRoom

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

Dec -04

Source: globenewswire.com

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BioCryst Receives Early Termination of HSR Waiting Period for Astria Acquisition

Dec -03

Source: globenewswire.com

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Fisher Asset Management LLC Lowers Stake in BioCryst Pharmaceuticals, Inc. $BCRX

Dec -03

Source: defenseworld.net

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Astria Therapeutics: Updating Target Price, Biocryst Deal Expected To Go Through, Hold

Nov -30

Source: seekingalpha.com

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BioCryst Pharmaceuticals (NASDAQ:BCRX) vs. Merck KGaA (OTCMKTS:MKKGY) Financial Contrast

Nov -26

Source: defenseworld.net

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BioCryst Pharmaceuticals, Inc. (BCRX) Presents at Jefferies London Healthcare Conference 2025 Transcript

Nov -24

Source: seekingalpha.com

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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)

Nov -06

Source: globenewswire.com

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

Nov -05

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.27%)

6. Segments

Oral Small Molecule and Protein Therapeutics

Expected Growth: 9.27%

BioCryst Pharmaceuticals' Oral Small Molecule and Protein Therapeutics segment growth is driven by increasing demand for convenient, orally administered treatments, advancements in protein therapeutics, and the company's strong pipeline of novel compounds. Additionally, growing prevalence of diseases such as hereditary angioedema and increasing adoption of oral therapies over injectables contribute to the 9.27% growth.

7. Detailed Products

Rapivab

Rapivab is an antiviral medication used to treat and prevent influenza (flu) in adults and children.

BCX9930

BCX9930 is an oral, small molecule factor D inhibitor being developed for the treatment of complement-mediated diseases.

BCX9250

BCX9250 is an oral, small molecule inhibitor of plasma kallikrein being developed for the treatment of hereditary angioedema (HAE).

BCX7353

BCX7353 is an oral, small molecule inhibitor of plasma kallikrein being developed for the prevention of hereditary angioedema (HAE) attacks.

8. BioCryst Pharmaceuticals, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

BioCryst Pharmaceuticals, Inc. operates in a highly competitive industry, but the threat of substitutes is mitigated by the company's focus on developing novel oral serine protease inhibitors for the treatment of hereditary angioedema.

Bargaining Power Of Customers

BioCryst Pharmaceuticals, Inc. has a diverse customer base, including pharmaceutical companies and research institutions, which reduces the bargaining power of individual customers.

Bargaining Power Of Suppliers

BioCryst Pharmaceuticals, Inc. relies on a limited number of suppliers for raw materials and services, which gives them some bargaining power, but the company's strong relationships with suppliers mitigate this risk.

Threat Of New Entrants

The biotechnology industry is highly competitive, and new entrants can easily disrupt the market with innovative products and services, posing a significant threat to BioCryst Pharmaceuticals, Inc.'s market share.

Intensity Of Rivalry

The biotechnology industry is highly competitive, with many established players and new entrants vying for market share, leading to a high intensity of rivalry that BioCryst Pharmaceuticals, Inc. must navigate.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 219.26%
Debt Cost 12.74%
Equity Weight -119.26%
Equity Cost 13.75%
WACC 11.53%
Leverage -183.85%

11. Quality Control: BioCryst Pharmaceuticals, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Arbutus Biopharma

A-Score: 4.4/10

Value: 6.0

Growth: 4.0

Quality: 3.9

Yield: 0.0

Momentum: 7.5

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
BioCryst Pharmaceuticals

A-Score: 4.4/10

Value: 5.0

Growth: 7.2

Quality: 5.1

Yield: 0.0

Momentum: 5.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Ocular Therapeutix

A-Score: 4.0/10

Value: 6.2

Growth: 5.0

Quality: 4.3

Yield: 0.0

Momentum: 6.0

Volatility: 2.3

1-Year Total Return ->

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Stock-Card
Poseida Therapeutics

A-Score: 3.8/10

Value: 4.2

Growth: 4.6

Quality: 4.1

Yield: 0.0

Momentum: 10.0

Volatility: 0.0

1-Year Total Return ->

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Stock-Card
EyePoint Pharmaceuticals

A-Score: 3.7/10

Value: 6.6

Growth: 2.3

Quality: 4.9

Yield: 0.0

Momentum: 7.5

Volatility: 1.0

1-Year Total Return ->

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Stock-Card
Lipocine

A-Score: 3.6/10

Value: 8.2

Growth: 6.9

Quality: 3.0

Yield: 0.0

Momentum: 1.0

Volatility: 2.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

7.59$

Current Price

7.59$

Potential

-0.00%

Expected Cash-Flows