Earlier today, healthcare stock BioCryst (NASDAQ:BCRX) declared its earnings and delivered significant disappointment to investors as well. Over the course of Tuesday’s trading, BioCryst lost over 15%, thanks in large part to the numbers it put up.
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BioCryst posted a loss of $0.38, which was larger than the loss of $0.17 that analysts were looking for. However, BioCryst posted revenue of $79.5 million, which was better than the $74.18 million analysts were expecting. Additionally, it represented a 68.4% increase in year-over-year comparison terms.
BioCryst also offered some projections about future development. It expects no less than $320 million in global net revenue on its Orladeyo drug. It also expects the net revenue for Orladeyo to be roughly the same as—or possibly slightly less than—net revenue in 2022’s fourth quarter. The biggest reason for that relates to reauthorizations in managed care, which are generally impacted on a seasonal basis. It also expects flat operating expenses. Though, in perhaps a more disturbing development, it’s also planning cuts to R&D operations.
Meanwhile, the last five days in trading for BioCryst show the impact of the earnings report well. BioCryst maintained a fairly static $10 share price for most of the last five days. Then the earnings report hit, and the bottom fell out. As a result, BioCryst is down 14.54% in the last five days.
