Business
BioCryst Reports Second Quarter 2023 Financial Results and Provides Business Update
— Q2 2023 ORLADEYO net revenue of $81.0 million (+24 percent y-o-y)— — On-track to achieve ≥ $320 million in full year 2023 ORLADEYO revenue and $1 billion in
About this update from Biocryst Pharmaceuticals, Inc.
[{"type":"text","content":"— Q2 2023 ORLADEYO net revenue of $81.0 million (+24 percent y-o-y)— — On-track to achieve ≥ $320 million in full year 2023 ORLADEYO revenue and $1 billion in peak ORLADEYO revenue— — Q2 2023 GAAP EPS of ($0.40), non-GAAP EPS of ($0.24), excluding one-time debt extinguishment fee of $29 million— — BCX10013, once-daily, oral Factor D inhibitor, clinical trial in patients expected to begin enrollment by end of year— —Company to host R&D day on Friday, November 3rd to introduce additional pipeline assets and programs— RESEARCH TRIANGLE PARK, N.C., Aug. 03, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq:BCRX) today reported financial results for the second quarter ended June 30, 2023, and provided a corporate update. “Our strong second quarter keeps us firmly on track to achieve no less than $320 million in ORLADEYO revenue this year, as our base of patients grows larger and larger every quarter. While ORLADEYO revenues continue to grow, we are also excited to host an R&D day in November to introduce new molecules and programs from our discovery platform that have the potential to replicate or exceed the success of ORLADEYO,” said Jon Stonehouse, president and chief executive officer of BioCryst. Program Updates ORLADEYO® (berotralstat): Oral, Once-daily Treatment for Prevention of Hereditary Angioedema (HAE) Attacks “The significant step-up in revenue we expected and achieved in the second quarter reflects the continued strong growth in patients taking ORLADEYO, the normal seasonality in revenue that follows first quarter prescription reauthorizations, and our steady improvement in helping patients get to reimbursed therapy. We recently attended the HAEA summit, attended by 1,200 patients and family members. Their strong interest and enthusiasm gave us even more confidence in our expectations for sustained long-term demand for ORLADEYO in the U.S. and globally,” said Charlie Gayer, chief commercial officer of BioCryst. ORLADEYO net revenue in the second quarter of 2023 was $81.0 million (+24.2 percent year-over-year (y-o-y)).Total growth in patients taking ORLADEYO continued on a strong, linear trajectory.The percentage of U.S. ORLADEYO patients receiving paid drug improved in the second quarter as the company made progress converting commercially-insured patients who had been receiving long-term free product, and ...