BioCryst Reports Fourth Quarter and Full Year 2024 Financial Results and Upcoming Key Milestones
BioCryst Pharmaceuticals (BCRX) reported strong Q4 and full year 2024 results, with ORLADEYO net revenue reaching $124.2M in Q4 (+36.6% y-o-y) and $437.7M for FY 2024 (+34.3% y-o-y). The company increased its FY 2025 ORLADEYO revenue guidance to $535-550M.
The company achieved a non-GAAP operating profit of $62.9M in 2024 (excluding stock-based compensation) and expects to approach positive EPS and cash flow in 2H 2025. GAAP operating loss for 2024 was $2.5M, with Q4 net loss at $26.8M ($0.13 per share).
Key pipeline developments include plans to expand ORLADEYO label to children aged 2-11, with NDA submission planned this year. Initial clinical data from BCX17725 for Netherton syndrome and avoralstat for diabetic macular edema are expected by year-end. Cash position stood at $342.8M as of December 31, 2024.
BioCryst Pharmaceuticals (BCRX) ha riportato risultati solidi per il quarto trimestre e per l'intero anno 2024, con un fatturato netto di ORLADEYO che ha raggiunto $124,2M nel Q4 (+36,6% rispetto all'anno precedente) e $437,7M per l'anno fiscale 2024 (+34,3% rispetto all'anno precedente). L'azienda ha aumentato le previsioni di fatturato per ORLADEYO per l'anno fiscale 2025 a $535-550M.
L'azienda ha registrato un utile operativo non GAAP di $62,9M nel 2024 (escludendo il compenso basato su azioni) e prevede di avvicinarsi a un utile per azione positivo e a un flusso di cassa positivo nel secondo semestre del 2025. La perdita operativa GAAP per il 2024 è stata di $2,5M, con una perdita netta nel Q4 di $26,8M ($0,13 per azione).
Tra gli sviluppi chiave del pipeline ci sono i piani per espandere l'etichetta di ORLADEYO ai bambini di età compresa tra 2 e 11 anni, con una presentazione della NDA prevista per quest'anno. I dati clinici iniziali da BCX17725 per la sindrome di Netherton e da avoralstat per l'edema maculare diabetico sono attesi entro la fine dell'anno. La posizione di cassa ammontava a $342,8M al 31 dicembre 2024.
BioCryst Pharmaceuticals (BCRX) reportó resultados sólidos para el cuarto trimestre y el año completo 2024, con ingresos netos de ORLADEYO alcanzando $124.2M en el Q4 (+36.6% interanual) y $437.7M para el año fiscal 2024 (+34.3% interanual). La compañía aumentó su guía de ingresos para ORLADEYO para el año fiscal 2025 a $535-550M.
La compañía logró una ganancia operativa no GAAP de $62.9M en 2024 (excluyendo la compensación basada en acciones) y espera acercarse a un EPS positivo y flujo de caja en la segunda mitad de 2025. La pérdida operativa GAAP para 2024 fue de $2.5M, con una pérdida neta en el Q4 de $26.8M ($0.13 por acción).
Los desarrollos clave en el pipeline incluyen planes para expandir la etiqueta de ORLADEYO a niños de 2 a 11 años, con la presentación de la NDA prevista para este año. Se esperan datos clínicos iniciales de BCX17725 para el síndrome de Netherton y avoralstat para el edema macular diabético para fin de año. La posición de efectivo se situó en $342.8M al 31 de diciembre de 2024.
BioCryst Pharmaceuticals (BCRX)는 2024년 4분기 및 전체 연도에 대한 강력한 실적을 보고했으며, ORLADEYO의 순수익이 4분기 동안 $124.2M에 도달했습니다 (+36.6% 전년 대비) 및 2024 회계연도 동안 $437.7M (+34.3% 전년 대비). 회사는 2025 회계연도 ORLADEYO 수익 가이드를 $535-550M으로 증가시켰습니다.
회사는 2024년에 비 GAAP 운영 이익을 $62.9M으로 기록했으며 (주식 기반 보상을 제외하고) 2025년 하반기에는 긍정적인 EPS와 현금 흐름에 접근할 것으로 예상하고 있습니다. 2024년 GAAP 운영 손실은 $2.5M이었고, 4분기 순손실은 $26.8M ($0.13 per share)였습니다.
주요 파이프라인 개발 사항으로는 2세에서 11세 아동으로 ORLADEYO의 라벨을 확장할 계획이 포함되며, 올해 NDA 제출이 예정되어 있습니다. Netherton 증후군에 대한 BCX17725의 초기 임상 데이터와 당뇨병성 황반부종에 대한 avoralstat 데이터는 연말까지 예상됩니다. 2024년 12월 31일 기준 현금 보유액은 $342.8M이었습니다.
BioCryst Pharmaceuticals (BCRX) a annoncé des résultats solides pour le quatrième trimestre et pour l'année complète 2024, avec des revenus nets de ORLADEYO atteignant 124,2 millions de dollars au T4 (+36,6 % par rapport à l'année précédente) et 437,7 millions de dollars pour l'exercice 2024 (+34,3 % par rapport à l'année précédente). La société a augmenté ses prévisions de revenus pour ORLADEYO pour l'exercice 2025 à 535-550 millions de dollars.
La société a réalisé un bénéfice d'exploitation non GAAP de 62,9 millions de dollars en 2024 (hors rémunération basée sur des actions) et s'attend à approcher un BPA positif et un flux de trésorerie positif au second semestre 2025. La perte d'exploitation GAAP pour 2024 était de 2,5 millions de dollars, avec une perte nette au T4 de 26,8 millions de dollars (0,13 $ par action).
Les développements clés du pipeline incluent des plans pour étendre l'étiquette d'ORLADEYO aux enfants âgés de 2 à 11 ans, avec une soumission de NDA prévue cette année. Les premières données cliniques de BCX17725 pour le syndrome de Netherton et d'avoralstat pour l'œdème maculaire diabétique sont attendues d'ici la fin de l'année. La position de liquidités s'élevait à 342,8 millions de dollars au 31 décembre 2024.
BioCryst Pharmaceuticals (BCRX) berichtete über starke Ergebnisse im vierten Quartal und für das gesamte Jahr 2024, wobei die Nettoumsätze von ORLADEYO im Q4 $124,2M (+36,6% im Vergleich zum Vorjahr) und $437,7M für das Geschäftsjahr 2024 (+34,3% im Vergleich zum Vorjahr) erreichten. Das Unternehmen erhöhte seine Umsatzprognose für ORLADEYO für das Geschäftsjahr 2025 auf $535-550M.
Das Unternehmen erzielte einen non-GAAP Betriebsgewinn von $62,9M im Jahr 2024 (ohne aktienbasierte Vergütung) und erwartet, in der zweiten Hälfte von 2025 ein positives EPS und einen positiven Cashflow zu erreichen. Der GAAP-Betriebsverlust für 2024 betrug $2,5M, mit einem Nettoverlust im Q4 von $26,8M ($0,13 pro Aktie).
Wichtige Entwicklungen in der Pipeline umfassen Pläne zur Erweiterung des ORLADEYO-Labels auf Kinder im Alter von 2 bis 11 Jahren, mit einer NDA-Einreichung, die für dieses Jahr geplant ist. Erste klinische Daten von BCX17725 für das Netherton-Syndrom und avoralstat für diabetisches Makulaödem werden bis Ende des Jahres erwartet. Die Liquiditätsposition belief sich am 31. Dezember 2024 auf $342,8M.
- ORLADEYO Q4 revenue grew 36.6% y-o-y to $124.2M
- FY 2024 ORLADEYO revenue increased 34.3% to $437.7M
- Raised FY 2025 ORLADEYO revenue guidance to $535-550M
- Achieved $62.9M non-GAAP operating profit in 2024
- 73.5% of U.S. patients on paid product in Q4
- Operating expenses growing at 5% CAGR vs. 20% revenue CAGR
- Q4 2024 net loss of $26.8M ($0.13 per share)
- SG&A expenses increased 24.4% y-o-y to $266.1M in 2024
- Cash position decreased from $390.8M to $342.8M year-over-year
Insights
BioCryst's Q4 results demonstrate impressive commercial execution and financial transformation. ORLADEYO's
The company's operating leverage is becoming increasingly evident. While revenue grew
Three key catalysts support the raised 2025 guidance:
- Medicare patient access improvements through the Inflation Reduction Act
- International expansion (now reimbursed in most Western European markets)
- Strong prescriber intent (97% considering ORLADEYO, with
59% extremely likely to increase prescriptions)
The pipeline progress adds potential future value drivers, particularly the pediatric label expansion for ORLADEYO and two new programs (BCX17725 for Netherton syndrome and avoralstat for DME) with data expected this year.
The company's projected
—ORLADEYO net revenue of
—FY 2025 ORLADEYO net revenue guidance increased to between
—GAAP operating loss for full year 2024 was
—Initial clinical data from BCX17725 in Netherton syndrome and avoralstat in diabetic macular edema targeted by end of year—
—Company expects to expand ORLADEYO label to children with HAE aged 2 to 11 using oral granule formulation; NDA submission planned this year—
RESEARCH TRIANGLE PARK, N.C., Feb. 24, 2025 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today reported financial results for the fourth quarter and full year ended December 31, 2024, and provided a corporate update.
“We ended 2024 with the strongest execution and performance in the company’s history, and this year is off to a fantastic start, with ORLADEYO revenue already exceeding our initial expectations, the first clinical data from both the BCX17725 and avoralstat programs, and our pediatric label expansion for ORLADEYO anticipated later this year,” said Jon Stonehouse, president and chief executive officer of BioCryst.
Program Updates and Key Milestones
ORLADEYO® (berotralstat): Oral, Once-daily Treatment for Prevention of Hereditary Angioedema (HAE) Attacks
“We are seeing favorable early signs that many more Medicare patients taking ORLADEYO are able to afford therapy because their copayments are lower under the Inflation Reduction Act. New prescription demand also remained strong in the fourth quarter and into the early part of this year and we have increased our guidance for ORLADEYO revenue in 2025,” said Charlie Gayer, chief commercial officer of BioCryst.
- ORLADEYO net revenue in the fourth quarter of 2024 was
$124.2 million (+36.6 percent y-o-y). - 73.5 percent of U.S. patients were on paid product at the end of the fourth quarter (up from 71.4 percent at the end of 2023).
- Sales from outside the U.S. contributed 13.9 percent of global ORLADEYO net revenues in the fourth quarter and 11.8 percent for full year 2024.
- The company has received final reimbursement for ORLADEYO in Portugal. ORLADEYO is now reimbursed in all major countries in Western Europe, except the Netherlands, which is expected in 1H 2025.
- A new market tracking survey of 60 HAE treaters showed that 97 percent are considering prescribing ORLADEYO and 59 percent (up from 26 percent 18 months prior) of current prescribers indicate they are extremely likely to prescribe for more of their patients.
Rare Disease Pipeline
“There is a tremendous unmet need for an oral option for children with HAE, so we are excited to bring ORLADEYO to children as young as two years old. In parallel, we look forward to dosing the first patient with DME in our avoralstat clinical program and continuing our ongoing clinical program with BCX17725, the potential first disease-modifying therapy for Netherton syndrome. Both of these programs could produce initial clinical data in 2025,” said Dr. Helen Thackray, chief R&D officer of BioCryst.
The goal with our pipeline is to build on our success with ORLADEYO by bringing additional selected, highly differentiated rare disease products to patients.
- The company is on track to submit a new drug application (NDA) in 2025 to the U.S. Food and Drug Administration (FDA) to expand the ORLADEYO label to children with HAE aged 2 to 11 using an oral granule formulation. Additional regulatory filings are planned in global territories, including Europe, Japan and Canada. ORLADEYO would be the first targeted oral prophylactic therapy for children with HAE.
- Earlier today, the company announced positive results from an interim analysis of the ongoing APeX-P clinical trial evaluating ORLADEYO in children with HAE aged 2 to 11. The results will be presented in a late-breaking abstract at the 2025 American Academy of Allergy, Asthma & Immunology (AAAAI) / World Allergy Organization (WAO) Joint Congress on Sunday, March 2.
- Earlier today, the company announced positive results from an interim analysis of the ongoing APeX-P clinical trial evaluating ORLADEYO in children with HAE aged 2 to 11. The results will be presented in a late-breaking abstract at the 2025 American Academy of Allergy, Asthma & Immunology (AAAAI) / World Allergy Organization (WAO) Joint Congress on Sunday, March 2.
- The company has advanced BCX17725, its KLK5 inhibitor for the treatment of Netherton syndrome, into clinical trials and expects initial data from the program in 2025.
- Netherton syndrome is a serious, rare, lifelong genetic disorder affecting the skin, hair, and immune system, caused by lack of normal function of a natural inhibitor of KLK5. People with Netherton syndrome often have red, scaly, inflamed skin, fragile hair, and are more likely to develop skin infections, severe food allergies, asthma and eczema. Netherton syndrome can be life threatening, especially during infancy when patients are vulnerable to dehydration and recurrent infections. Currently, there are no approved treatments for Netherton syndrome.
- Netherton syndrome is a serious, rare, lifelong genetic disorder affecting the skin, hair, and immune system, caused by lack of normal function of a natural inhibitor of KLK5. People with Netherton syndrome often have red, scaly, inflamed skin, fragile hair, and are more likely to develop skin infections, severe food allergies, asthma and eczema. Netherton syndrome can be life threatening, especially during infancy when patients are vulnerable to dehydration and recurrent infections. Currently, there are no approved treatments for Netherton syndrome.
- In 2025, the company plans to advance avoralstat, a plasma kallikrein inhibitor, into a clinical trial of patients with diabetic macular edema (DME).
- DME is an important cause of vision loss in diabetes and is due to leakage of fluid from the blood vessels in the retina. While current treatments focus on vascular endothelial growth factor (VEGF) inhibition, DME can develop from other mechanisms, such as the kallikrein-bradykinin pathway. This is supported by observations that many DME patients have an incomplete response to intravitreal anti-VEGF therapies that are administered every four to eight weeks. Avoralstat targets the kallikrein-bradykinin system on the retinal vascular endothelial cells and may result in less vascular leakage and less edema. Avoralstat, delivered to the suprachoroidal space, is designed to provide high dose levels to the retinal vessels with long-lasting exposure, which could result in less frequent injections and a reduced burden on patients and the healthcare system.
Fourth Quarter 2024 Financial Results
“The strong start to 2025 has enabled us to raise our revenue guidance, further increasing our confidence in achieving our profitability goals. With revenue growth significantly outpacing operating expenses over the next few years, we expect to achieve meaningful and sustainable profitability, adding hundreds of millions in cash to the balance sheet,” said Anthony Doyle, chief financial officer of BioCryst.
For the three months ended December 31, 2024, total revenues were
Research and development (R&D) expenses for the fourth quarter of 2024 decreased to
Selling, general and administrative (SG&A) expenses for the fourth quarter of 2024 increased to
Interest expense was
GAAP operating loss for the fourth quarter of 2024 was
Net loss for the fourth quarter of 2024 was
Cash, cash equivalents, restricted cash and investments totaled
Full Year 2024 Financial Results
For the full year ended December 31, 2024, total revenues were
R&D expenses for the full year 2024 decreased to
SG&A expenses for the full year 2024 increased to
Interest expense was
GAAP operating loss for the full year 2024 was
Net loss for the full year 2024 was
Financial Outlook for 2025
Based on the early signs we are seeing that many more of our Medicare patients are able to afford paid therapy in 2025, and the strong patient demand for ORLADEYO to start the year, the company has increased its full year 2025 outlook for global net ORLADEYO revenue to between
The increased guidance for ORLADEYO revenues in 2025 also results in an increase in related operating expenses, primarily related to cost of goods sold, distribution costs and higher incentive compensation. The company reiterates the previously provided 2025 non-GAAP operating expense outlook range of
Profitability Outlook
In 2024, revenue growth significantly exceeded operating expense growth. The company expects this pattern to continue, and over the next three years the company expects an annual CAGR for revenue of around 20 percent, compared to a projected annual operating expense CAGR of closer to five percent over the same period.
Building on the
Conference Call and Webcast
BioCryst management will host a conference call and webcast at 8:30 a.m. ET today to discuss the financial results and provide a corporate update. The live call may be accessed by dialing 1-844-481-2942 for domestic callers and 1-412-317-1866 for international callers. A live webcast and replay of the call will be available online in the investors section of the company website at www.biocryst.com.
About BioCryst Pharmaceuticals
BioCryst Pharmaceuticals is a global biotechnology company with a deep commitment to improving the lives of people living with hereditary angioedema and other rare diseases. BioCryst leverages its expertise in structure-guided drug design to develop first-in-class or best-in-class oral small-molecule and protein therapeutics to target difficult-to-treat diseases. BioCryst has commercialized ORLADEYO® (berotralstat), the first oral, once-daily plasma kallikrein inhibitor, and is advancing a pipeline of small-molecule and protein therapies. For more information, please visit www.biocryst.com or follow us on LinkedIn.
Non-GAAP Financial Measures
The information furnished in this release includes non-GAAP financial measures that differ from measures calculated in accordance with generally accepted accounting principles in the United States of America (“GAAP”), including financial measures labeled as “non-GAAP” or “adjusted.”
We believe providing these non-GAAP measures, which show our results with these items adjusted, is valuable and useful since they allow management and investors to better understand the company’s financial performance in the absence of certain one-time events and non-cash items such as stock-based compensation and allow investors to more accurately understand our 2023 and 2024 results and more easily compare them to future results. These non-GAAP measures also correspond with the way we expect Wall Street analysts to compare our results. Our non-GAAP measures should be considered only as supplements to, and not as substitutes for or in isolation from, our other measures of financial information prepared in accordance with GAAP, such as GAAP revenue, operating income, net income, and earnings per share.
Our references to our fourth quarter 2023 and full year 2023 and 2024 “non-GAAP” financial measures of non-GAAP net loss and non-GAAP earnings per share constitute non-GAAP financial measures. For 2023, they refer to our GAAP results, adjusted to show the results without the one-time loss on the extinguishment of the Athyrium term loans, as well as the R&D restructuring and the postponement of previously planned capital expenditures at our Discovery Center in Alabama. For 2024, they refer to our GAAP results, adjusted to show the results without the one-time R&D restructuring expense. Our reference to our fourth quarter 2023 and 2024 and full year 2023 and 2024 “non-GAAP” financial measure of non-GAAP operating profit constitutes a non-GAAP financial measure. It refers to our GAAP results, adjusted to show the results without including non-cash stock compensation expense.
We also provide our non-GAAP operating expense outlook for full year 2025, which refers to our expected GAAP operating expense, excluding stock-based compensation expense. We have not provided a reconciliation against the comparable forward-looking GAAP measure because we are unable to predict with reasonable certainty the full amount of stock-based compensation expense for full year 2025 without unreasonable effort. Stock-based compensation expense is uncertain and depends on various factors, including our future hiring and retention needs, as well as the future fair market value of our common stock, which is difficult to predict and subject to change. The actual amount of stock-based compensation expense for the full year 2025 could have a material impact on GAAP reported results for the guidance period.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding future results, performance or achievements, and expectations regarding pipeline development timing. These statements involve known and unknown risks, uncertainties and other factors which may cause BioCryst’s actual results, performance, achievements or pipeline development timing to be materially different from any future results, performance, achievements, or timing expressed or implied by the forward-looking statements. These statements reflect our current views with respect to future events and are based on assumptions and are subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Some of the factors that could affect the forward-looking statements contained herein include: BioCryst’s ability to successfully implement or maintain its commercialization plans for ORLADEYO; BioCryst’s ability to successfully progress its pipeline development plans as described herein, including meeting the expected timelines; the results of BioCryst’s partnerships with third parties may not meet BioCryst’s current expectations; risks related to government actions, including that decisions and other actions, including as they relate to pricing, may not be taken when expected or at all, or that the outcomes of such decisions and other actions may not be in line with BioCryst’s current expectations; the commercial viability of ORLADEYO, including its ability to achieve sustained market acceptance and demand; ongoing and future preclinical and clinical development of product candidates may take longer than expected and may not have positive results; the outcome of preclinical testing and early clinical trials may not be predictive of the success of later clinical trials, and interim results of a clinical trial do not necessarily predict final results; BioCryst may not be able to enroll the required number of subjects in planned clinical trials of product candidates; BioCryst may not advance human clinical trials with product candidates as expected; the FDA or other applicable regulatory agency may require additional studies beyond the studies planned for products and product candidates, may not provide regulatory clearances which may result in delay of planned clinical trials, may not review regulatory filings on our expected timeline, may impose certain restrictions, warnings, or other requirements on products and product candidates, may impose a clinical hold with respect to product candidates, or may withhold, delay or withdraw market approval for products and product candidates; product candidates, if approved, may not achieve market acceptance; BioCryst’s ability to successfully commercialize its products and product candidates; BioCryst’s ability to successfully manage its growth and compete effectively; risks related to the international expansion of BioCryst’s business; timing for achieving and sustainability of profitability and positive cash flow may not meet management’s expectations; statements and projections regarding financial guidance and goals and the attainment of such goals may differ from actual results based on market factors and BioCryst’s ability to execute its operational and budget plans; and actual financial results may not be consistent with expectations, including that revenue, operating expenses and cash usage may not be within management’s expected ranges. Please refer to the documents BioCryst files periodically with the Securities and Exchange Commission, specifically BioCryst’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which identify important factors that could cause actual results to differ materially from those contained in BioCryst’s projections and forward-looking statements.
BCRXW
Contact:
John Bluth
+1 919 859 7910
jbluth@biocryst.com
| BIOCRYST PHARMACEUTICALS, INC. CONSOLIDATED FINANCIAL SUMMARY (In thousands, except per share) | ||||||||||||||||
| Statements of Operations (unaudited) | ||||||||||||||||
| Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenues: | ||||||||||||||||
| ORLADEYO | $ | 124,186 | $ | 90,883 | $ | 437,660 | $ | 325,990 | ||||||||
| Other | 7,348 | 2,518 | 13,052 | 5,422 | ||||||||||||
| Total revenues | 131,534 | 93,401 | 450,712 | 331,412 | ||||||||||||
| Expenses: | ||||||||||||||||
| Cost of product sales | 6,094 | 1,557 | 12,269 | 4,481 | ||||||||||||
| Research and development | 49,441 | 70,052 | 174,638 | 216,566 | ||||||||||||
| Selling, general and administrative | 80,470 | 64,382 | 266,132 | 213,894 | ||||||||||||
| Royalty | 37 | 80 | 216 | 180 | ||||||||||||
| Total operating expenses | 136,042 | 136,071 | 453,255 | 435,121 | ||||||||||||
| Loss from operations | (4,508 | ) | (42,670 | ) | (2,543 | ) | (103,709 | ) | ||||||||
| Other (expense) income: | ||||||||||||||||
| Interest income | 3,570 | 4,465 | 14,746 | 15,777 | ||||||||||||
| Interest expense | (24,449 | ) | (24,583 | ) | (98,516 | ) | (108,239 | ) | ||||||||
| Loss on extinguishment of debt | — | — | — | (29,019 | ) | |||||||||||
| Foreign currency losses, net | (604 | ) | (374 | ) | (641 | ) | (1,039 | ) | ||||||||
| Total other expense | (21,483 | ) | (20,492 | ) | (84,411 | ) | (122,520 | ) | ||||||||
| Loss before income taxes | (25,991 | ) | (63,162 | ) | (86,954 | ) | (226,229 | ) | ||||||||
| Income tax expense (benefit) | 804 | (1,431 | ) | 1,927 | 310 | |||||||||||
| Net loss | $ | (26,795 | ) | $ | (61,731 | ) | $ | (88,881 | ) | $ | (226,539 | ) | ||||
| Basic and diluted net loss per common share | $ | (0.13 | ) | $ | (0.31 | ) | $ | (0.43 | ) | $ | (1.18 | ) | ||||
| Weighted average shares outstanding | 207,381 | 201,409 | 206,696 | 192,198 | ||||||||||||
| Balance Sheet Data (in thousands) | ||||||||
| December 31, | ||||||||
| 2024 (unaudited) | 2023 (Note 1) | |||||||
| Cash, cash equivalents and investments | $ | 341,173 | $ | 388,987 | ||||
| Restricted cash | 1,610 | 1,804 | ||||||
| Receivables | 79,069 | 56,950 | ||||||
| Total assets | 490,420 | 516,960 | ||||||
| Secured term loan | 314,869 | 303,231 | ||||||
| Royalty financing obligation | 513,729 | 531,599 | ||||||
| Accumulated deficit | (1,770,040 | ) | (1,681,159 | ) | ||||
| Stockholders’ deficit | (475,934 | ) | (455,528 | ) | ||||
| Shares of common stock outstanding | 208,543 | 205,771 | ||||||
| Note 1: Derived from audited financial statements. | ||||||||
| Reconciliation of Adjusted Net Loss and Adjusted Diluted Earnings Per Share (in thousands, except per share) | |||||||||||||||||||
| Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
| GAAP net loss | $ | (26,795 | ) | $ | (61,731 | ) | $ | (88,881 | ) | $ | (226,539 | ) | |||||||
| Less: One-time R&D restructuring expense | — | (3,380 | ) | (1,264 | ) | (3,380 | ) | ||||||||||||
| Less: One-time loss on extinguishment of Athyrium term loans | — | — | — | (29,019 | ) | ||||||||||||||
| Less: One-time cost associated with expensing previously capitalized costs due to postponement of Discovery Center (AL) expansion | — | (1,988 | ) | — | (1,988 | ) | |||||||||||||
| Adjusted net loss | $ | (26,795 | ) | $ | (56,363 | ) | $ | (87,617 | ) | $ | (192,152 | ) | |||||||
| GAAP basic and diluted net loss per common share | $ | (0.13 | ) | $ | (0.31 | ) | $ | (0.43 | ) | $ | (1.18 | ) | |||||||
| Adjusted basic and diluted net loss per common share | $ | (0.13 | ) | $ | (0.28 | ) | $ | (0.42 | ) | $ | (1.00 | ) | |||||||
| Reconciliation of Adjusted Income (Loss) from Operations (in thousands) | ||||||||||||||||
| Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| GAAP loss from operations | $ | (4,508 | ) | $ | (42,670 | ) | $ | (2,543 | ) | $ | (103,709 | ) | ||||
| Less: Stock-based compensation expense | (21,339 | ) | (16,488 | ) | (65,413 | ) | (55,615 | ) | ||||||||
| Adjusted income (loss) from operations | $ | 16,831 | $ | (26,182 | ) | $ | 62,870 | $ | (48,094 | ) | ||||||
FAQ
What was BCRX's ORLADEYO revenue growth in Q4 2024?
What is BCRX's revenue guidance for ORLADEYO in 2025?
When does BCRX expect to achieve positive EPS?
What is BCRX's cash position as of December 31, 2024?
What percentage of BCRX's U.S. ORLADEYO patients were on paid product in Q4 2024?
