Business
BioCryst Reports Fourth Quarter and Full Year 2022 Financial Results and Upcoming Key Milestones
—ORLADEYO net revenue of $70.7 million for Q4 2022 and $251.6 million for FY 2022— —ORLADEYO net revenue in 2023 expected to be no less than $320 million—
About this update from Biocryst Pharmaceuticals, Inc.
[{"type":"text","content":"—ORLADEYO net revenue of $70.7 million for Q4 2022 and $251.6 million for FY 2022— —ORLADEYO net revenue in 2023 expected to be no less than $320 million— —ORLADEYO peak sales expected to be $1 billion— RESEARCH TRIANGLE PARK, N.C., Feb. 21, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq:BCRX) today reported financial results for the fourth quarter and full year ended December 31, 2022, and provided a corporate update. “It has been exciting to build on our strong initial launch by doubling ORLADEYO revenues in our second year, and to see the expanding global reach of an oral, once-daily therapy that is changing the lives of patients with HAE and their families,” 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 ORLADEYO net revenue in the fourth quarter of 2022 was $70.7 million. New patient demand for ORLADEYO was strong in the fourth quarter, consistent with the steady growth trajectory observed since launch.The ORLADEYO prescriber base continues to grow significantly, with approximately half of new prescriptions in the fourth quarter coming from the top 500 prescribers. The total number of patients on ORLADEYO at year-end 2022 was consistent with the company’s expectations. The company expects patient growth in Q1 2023 to remain strong. Because of typical first quarter requirements from payors for prescription reauthorization of specialty products, like ORLADEYO, that can temporarily move patients from paid drug to free product, copayment assistance and Medicare D cost sharing dynamics, the company expects ORLADEYO net revenue in Q1 2023 to be similar to, or slightly less than, Q4 2022. The company has accounted for this expected Q1 impact in its expectation that full year 2023 ORLADEYO global net revenues will grow to no less than $320 million. The Canadian Agency for Drugs and Technologies in Health Canadian Drug Expert Committee has recently issued a final draft positive recommendation for ORLADEYO to be reimbursed for the routine prevention of HAE attacks in adults and pediatric patients 12 years of age and older. “Underlying demand from patients and physicians for ORLADEYO continues to be strong and consistent in the U.S. and our initial Europ...