BioCryst Pharmaceuticals ((BCRX)) has held its Q4 earnings call. Read on for the main highlights of the call.
BioCryst Pharmaceuticals recently held its earnings call, which reflected a strong performance overall. The company reported significant growth in Orladeo revenue and positive financial results, despite facing challenges with the reauthorization process and foreign exchange impacts. These challenges, however, were outweighed by the company’s achievements and growth projections, painting an optimistic picture for the future.
Record Orladeo Revenue Growth
BioCryst Pharmaceuticals reported a remarkable 34% year-over-year growth in Orladeo revenue. The company successfully added as many patients in 2024 as it did in the first year of the drug’s launch, showcasing the excellent execution by its commercial team.
Strong Financial Performance
The company achieved a non-GAAP operating profit of over $60 million, which is three times larger than initially planned. Total revenue for 2024 was reported at $450.7 million, highlighting BioCryst’s robust financial health.
Pipeline Advancements
BioCryst made significant progress in its clinical trials, particularly for BCX1775 in Netherton syndrome and Avoralstat for diabetic macular edema. The company also plans to file a new drug application for Orladeo’s pediatric use this year.
Positive Impact of Inflation Reduction Act
The Inflation Reduction Act has positively impacted BioCryst, allowing a higher percentage of Medicare patients on Orladeo to afford co-payments. This has led to an increased revenue guidance for Orladeo, projected between $535 million and $550 million for 2025.
Strong Retention and Prescriber Momentum
BioCryst reported that 97% of HAE treaters are considering prescribing Orladeo, with 59% extremely likely to prescribe it to more patients. The positive real-world evidence supports Orladeo’s efficacy, contributing to its strong market presence.
Challenges in Reauthorization Season
The company is currently navigating the reauthorization season, which could impact revenue for the first quarter. The revenue is expected to be flat to slightly down compared to the fourth quarter.
Foreign Exchange Headwinds
BioCryst faces a $5 million headwind in the EU due to foreign exchange fluctuations, which has affected its revenue.
Uncertainty in Government Funding
There is increased uncertainty around future government funding for RAPIVAB, which could pose challenges for BioCryst moving forward.
Forward-Looking Guidance
BioCryst provided a promising outlook for 2025, with Orladeo’s revenue expected to grow to between $535 million and $550 million, driven by strong demand and the Inflation Reduction Act’s positive impact. The company anticipates positive cash flow and earnings per share in the second half of 2025, alongside continued progress in its clinical pipeline.
In summary, BioCryst Pharmaceuticals’ earnings call highlighted a strong performance with significant growth in Orladeo revenue and positive financial results. Despite challenges such as reauthorization processes and foreign exchange impacts, the company’s achievements and growth projections remain promising. Investors and stakeholders can look forward to BioCryst’s continued success and advancements in its clinical pipeline.