Biocryst Pharmaceuticals, Inc. · NASDAQ:BCRX
Biocryst Pharmaceuticals — Q3 2023 Earnings Presentation
9 slides from Biocryst Pharmaceuticals's earnings presentation, Nov 2, 2023
Slide 1: Third Quarter 2023 Results Call
THIRD QUARTER 2023 RESULTS CALL CORPORATE UPDATE & FINANCIAL RESULTS NOVEMBER 2, 2023
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS BioCryst’s presentation may contain forward-looking statements, including statements regarding future results, unaudited and forward-looking financial information and company performance or achievements. These statements are subject to known and unknown risks and uncertain
Slide 3: Agenda
AGENDA • Corporate Update: Jon Stonehouse – President and Chief Executive Officer • ORLADEYO® (berotralstat) Launch Update: Charlie Gayer – Chief Commercial Officer • HAE Market Research Update: Jinky Rosselli – Chief Data and Insights Officer • Financial Update: Anthony Doyle – Chief Financial Offi
Slide 4: Consistent Patient Trends Driving Revenue Growth
CONSISTENT PATIENT TRENDS DRIVING REVENUE GROWTH US Net Patient Growth Net Revenue ($M) 1,000 patients 90.0 80.0 Start Forms and DCs Patients on therapy 70.0 60.0 50.0 40.0 Jun-23 Jul-23 Jan-22 Jun-22 Jul-22 Jan-23 Mar-22 Mar-23 Feb-22 Feb-23 Nov-21 Dec-21 Aug-22 Sep-22 Nov-22 Dec-22 Aug-23 Sep-23 O
Slide 5: Path to $800M US Revenue in 2029
PATH TO $800M US REVENUE IN 2029 Modest average price increases 2024-2029 Improve rate of ~200 annual net Paid to 85% Assumptions patients added, 2024-2029 • 15-20% gross-to-net on paid shipments • Compliance in low-90s% ~1,050 Paid + PAP* patients * PAP is the company’s long-term patient with 73% P
Slide 6: Finance Summary
FINANCE SUMMARY (FIGURES IN MILLIONS) Q3 2023 Cash Position Cash, cash equivalents, restricted cash & investments at December 31, 2022 $444 Cash, cash equivalents, restricted cash & investments at September 30, 2023 $399 Senior credit facility A $309 2023 FY Guidance ORLADEYO® revenue ≥$320 Operatin
Slide 7: Traditional Debt and Royalty Breakdown
TRADITIONAL DEBT AND ROYALTY BREAKDOWN • BioCryst has long term obligations of ~$833M. • This figure consists of two distinct instruments, detailed below. Traditional Debt Commercial Royalty Initial amount $300M term loan $425M royalty upfronts RP (2020, 2021) A Partner(s) Pharmakon (2023) OMERS (20
Slide 8: Royalty Obligations: Terms
ROYALTY OBLIGATIONS: TERMS Rate Tiers Rate Tiers Cumulative Upfront Product (Key TerritoriesB) (Other MarketsB) Payback Cap $0-350M: 8.75% $0-150M: 20% ORLADEYO $350M-550M: 2.75% $150M-230M: 10% None RP Over $550M: None Over $230M: None $125M 2020 BCX9930 Global net sales 1% n/a None $0-350M: 0.75%
Slide 9: Third Quarter 2023 Results Call
THIRD QUARTER 2023 RESULTS CALL CORPORATE UPDATE & FINANCIAL RESULTS NOVEMBER 2, 2023
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