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BioCryst Pharmaceuticals reported Q2 2024 financial results, highlighting a 34% y-o-y increase in ORLADEYO net revenue to $108.3 million. Full-year 2024 ORLADEYO revenue guidance has been raised to $420-$435 million from $390-$400 million. The company achieved a GAAP operating profit of $8.8 million, compared to a loss in Q2 2023, and a non-GAAP operating profit of $21.9 million. Total revenues rose 32.5% y-o-y to $109.3 million. R&D expenses fell 26.6% y-o-y to $37.6 million, while SG&A expenses increased 20% y-o-y to $61.2 million. Net loss was $12.7 million, down from $75.3 million in Q2 2023. Cash reserves totaled $338.1 million as of June 30, 2024. The pipeline includes advancing BCX17725 for Netherton syndrome and avoralstat for diabetic macular edema. BioCryst plans to achieve full-year operating profit in 2024 and positive EPS by 2026 without additional fundraising.
BioCryst Pharmaceuticals (Nasdaq: BCRX) has announced the granting of stock options and restricted stock units (RSUs) to nine newly-hired employees. The compensation committee approved options to purchase 40,350 shares and RSUs covering 28,200 shares of BioCryst common stock. These were granted on July 31, 2024, as inducements for employment.
The stock options have an exercise price of $7.28 per share, equal to the closing price on the grant date. Both options and RSUs will vest in four equal annual installments, starting from the one-year anniversary of the grant date. The stock options have a 10-year term. These grants are subject to BioCryst's Inducement Equity Incentive Plan and respective agreements.
BioCryst Pharmaceuticals (Nasdaq: BCRX) has announced that it will release its second quarter 2024 financial results on Monday, August 5, 2024. The company's management team will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the financial results and provide a corporate update. Interested parties can access the live call by dialing 1-844-481-2942 (domestic) or 1-412-317-1866 (international). Additionally, a live webcast and replay of the call will be available in the investors section of the company's website at www.biocryst.com.
BioCryst Pharmaceuticals (Nasdaq: BCRX) announced the approval of its drug, ORLADEYO® (berotralstat), by the General Directorate of Medicines, Supplies and Drugs (DIGEMID) in Peru. This oral, once-daily medication is designed for the prevention of hereditary angioedema (HAE) attacks in individuals aged 12 and older. The approval allows BioCryst, in collaboration with Pint Pharma, to provide new treatment options for HAE patients in Peru. This marks another milestone for ORLADEYO, which has already secured approvals in other Latin American countries like Chile, Argentina, Brazil, and Mexico.
BioCryst Pharmaceuticals announced the inducement grants under Nasdaq Listing Rule 5635(c)(4) for five newly-hired employees. The grants include stock options for an aggregate of 46,850 shares and restricted stock units (RSUs) for 19,435 shares of BioCryst common stock. These grants were made on June 28, 2024, as a material inducement for the new employees to join. The stock options have an exercise price of $6.18, equal to BioCryst's closing price on the grant date, and a 10-year term.
The options and RSUs will vest in four equal annual installments starting one year from the grant date, contingent on continued employment. The grants are governed by BioCryst's Inducement Equity Incentive Plan and related agreements.
BioCryst Pharmaceuticals announced the inducement grants to 10 newly-hired employees under Nasdaq Listing Rule 5635(c)(4). These grants include stock options for 74,875 shares and restricted stock units (RSUs) for 39,050 shares of common stock. The grants were issued on May 31, 2024, with the stock options priced at $6.46 per share, matching the closing price on the grant date. The vesting schedules vary: nine employees will see options and RSUs vest in four annual installments starting one year from the grant date, while one director's options and RSUs will vest 50% on the first-year anniversary and the rest over the next two years. Each stock option has a 10-year term and is subject to BioCryst’s Inducement Equity Incentive Plan.
BioCryst Pharmaceuticals has presented new real-world evidence indicating that ORLADEYO® (berotralstat) reduces attack rates in HAE patients with normal C1-inhibitor levels. A study involving six patients revealed that five experienced a 75-100% reduction in HAE attack rates after six months of treatment, with one patient showing a 29% reduction.
Additionally, new results highlight the adverse health outcomes associated with attenuated androgen use for HAE prophylaxis, emphasizing the need for safer, targeted therapies as recommended by EAACI guidelines. The study assessed 108 studies and found that adverse outcomes include increased cardiovascular events, liver damage, and cancer, reinforcing the importance of accessible, safer treatment options.
BioCryst Pharmaceuticals (Nasdaq: BCRX) will present new data on ORLADEYO® (berotralstat), an oral, once-daily treatment for hereditary angioedema (HAE), at the European Academy of Allergy and Clinical Immunology (EAACI) meeting in Valencia, Spain from May 31 to June 3, 2024. The company will present two abstracts: one on adverse health outcomes and perspectives of attenuated androgen use, and another on the effectiveness and safety of berotralstat in patients with HAE with normal C1 inhibitor. These presentations are scheduled for May 31 and June 2, 2024.
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) announced that COFEPRIS in Mexico approved ORLADEYO® (berotralstat) for the prophylaxis of hereditary angioedema attacks in adults and pediatric patients 12 years and older. The drug is now approved in four countries in the pan-Latin America region. BioCryst collaborates with Pint Pharma to bring the therapy to HAE patients in need.
BioCryst Pharmaceuticals, Inc. presented new real-world evidence demonstrating significant reductions in healthcare resource utilization (HRU) among patients with hereditary angioedema (HAE) in the United States after initiating ORLADEYO® (berotralstat) treatment. The study, presented at the 2024 ISPOR conference, highlighted reduced all-cause hospitalizations and angioedema-related hospitalizations, showcasing the cost-effectiveness and collective benefit of ORLADEYO therapy for patients and payers.
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