BioCryst Reports Q4 Revenue of $406.555M, Achieves Full-Year Profitability
Reports Q4 revenue $406.555M vs $131.534M last year. "2025 was fundamentally transformative for BioCryst. We achieved full-year profitability for the first time in the company's history, driven by strong commercial execution that delivered the highest level of new patient prescriptions in the U.S. since the initial launch of ORLADEYO, even as the treatment landscape continued to evolve. We also advanced key business development initiatives that streamlined our operations and further strengthened our leadership position in hereditary angioedema. We entered 2026 with strong momentum, completing the acquisition of Astria Therapeutics to grow our HAE portfolio to meet the needs of more patients, while adding to our long-term growth trajectory well into the next decade," said Charlie Gayer, President and Chief Executive Officer of BioCryst.
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- Coverage Resumed with Price Target: On February 18, Evercore ISI resumed coverage of BioCryst Pharmaceuticals Inc. (NASDAQ:BCRX) with a Buy rating and set a price target of $17.00, reflecting strong market confidence in its growth potential.
- Acquisition Completion: BioCryst announced on January 23 the completion of its acquisition of Astria Therapeutics, Inc., initially announced on October 14, 2025, which further solidifies its leadership position in hereditary angioedema (HAE).
- Portfolio Expansion: The acquisition adds navenibart, a late-stage, long-acting plasma kallikrein inhibitor currently in Phase 3 clinical development, to BioCryst's HAE portfolio, expected to significantly enhance the treatment experience for HAE patients.
- Strategic Plans: BioCryst also obtained Astria's early-stage program for atopic dermatitis, STAR0310, with plans to pursue strategic alternatives, indicating the company's proactive approach to diversifying its product line.
- Significant Revenue Growth: BioCryst achieved $601.8 million in ORLADEYO revenue for 2025, marking a 38% year-over-year increase and a 43% rise when excluding the European business sold in October, demonstrating strong market performance and enhanced profitability.
- New Product Launch: The company announced the launch of ORLADEYO pellets for children, positioning it as likely the only oral option for several years, further solidifying its leadership in the HAE market and addressing the needs of pediatric patients.
- R&D Progress on Track: The Phase II trial for Navenibart showed a 92% reduction in attack rates with no safety signals in 29 patients, indicating strong efficacy and safety profiles, which bolsters market confidence in the product's potential.
- Optimistic Future Outlook: BioCryst expects ORLADEYO revenues for 2026 to range between $625 million and $645 million, reflecting confidence in future growth while emphasizing disciplined capital allocation and a commitment to long-term value creation.
- Strong Earnings Report: BioCryst Pharmaceuticals reported a Q4 GAAP EPS of $1.12, exceeding expectations by $1.07, indicating a significant improvement in profitability and reflecting robust market performance of its products.
- Substantial Revenue Growth: The company achieved Q4 revenue of $406.55 million, a remarkable 209.1% increase year-over-year, surpassing market expectations by $255.23 million, demonstrating a surge in demand for its products and driving rapid overall performance growth.
- 2026 Financial Outlook: BioCryst maintained its expectation for 2026 global net ORLADEYO revenue to be between $625 million and $645 million, while total revenue, including RAPIVAB®, is projected to be between $635 million and $660 million, showcasing the company's confidence in future growth.
- Cost Control Measures: The company anticipates its 2026 non-GAAP operating expenses, excluding stock-based compensation, restructuring, and transaction-related costs, to be between $450 million and $470 million, indicating effective cost management alongside expansion efforts to enhance profitability.
- Earnings Announcement Date: BioCryst Pharmaceuticals (BCRX) is set to announce its Q4 earnings on February 26 before market open, with a consensus EPS estimate of $0.07, a significant improvement from -$0.13 in Q4 2024, indicating a potential turnaround in profitability.
- Revenue Growth Expectations: The revenue estimate for Q4 stands at $151.32 million, reflecting a 15.0% year-over-year increase, which suggests strong market demand and sales performance, potentially laying the groundwork for future growth.
- Historical Performance Review: Over the past two years, BCRX has beaten EPS estimates 50% of the time and revenue estimates 88% of the time, demonstrating stability in financial performance and bolstering market confidence.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen two upward revisions and no downward adjustments, while revenue estimates experienced four upward revisions and three downward adjustments, indicating analysts' optimistic outlook on the company's future performance.
- Poor Market Performance: BioCryst Pharmaceuticals (NASDAQ:BCRX) has been labeled a consistently underperforming stock by Jim Cramer, suggesting that market expectations for its future performance are low, which could lead to diminished investor confidence.
- New Drug Acquisition: The company finalized a $700 million acquisition of Astria Therapeutics on January 23, adding navenibart, a long-acting therapy for hereditary angioedema, to its portfolio; however, market reactions remain tepid despite this strategic move.
- Therapeutic Expansion: BioCryst focuses on treatments for rare diseases, including an oral medication for hereditary angioedema and injectable flu therapies, yet insufficient market confidence in its drug development may hinder future sales growth.
- Investment Risk Advisory: While BCRX presents investment potential, analysts indicate that certain AI stocks offer greater upside potential and lower downside risk, which may lead investors to consider more attractive investment alternatives.
- Transaction Investigation: Former Louisiana Attorney General Charles C. Foti and his law firm are investigating the proposed sale of Astria Therapeutics to BioCryst Pharmaceuticals, which involves a compensation of $8.55 in cash and 0.59 shares of BioCryst stock per Astria share, aiming to assess whether this deal undervalues the company.
- Shareholder Rights Concern: KSF is seeking to confirm the adequacy of the transaction process and compensation, emphasizing the importance of protecting shareholder rights by inviting those who believe the deal undervalues the company to discuss their legal options.
- Legal Consultation Services: KSF offers no-obligation legal consultations, encouraging shareholders to contact Managing Partner Lewis S. Kahn, which highlights the firm's commitment to shareholder interests and the pursuit of transaction transparency.
- Market Reaction Potential: The investigation into this transaction could impact shareholder confidence and market performance for Astria, as any findings of unfairness may lead to legal actions that could subsequently affect the company's stock price trajectory.







