BioCryst Pharmaceuticals (BCRX)


Market Price (8/14/2026): $9.82 | Market Cap: $2.5 BilSector: Health Care | Industry: Pharmaceuticals

BioCryst Pharmaceuticals (BCRX)


Market Price (8/14/2026): $9.82
Market Cap: $2.5 Bil
Sector: Health Care
Industry: Pharmaceuticals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 69%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 40%

Attractive yield
FCF Yield is 15%

Low stock price volatility
Vol 12M is 47%

Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Rare Disease Therapeutics, Targeted Therapies, Show more.

Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -34%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.43, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -313 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -33%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -20%

Key risks
BCRX key risks include [1] significant financial distress, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 69%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 40%
2 Attractive yield
FCF Yield is 15%
3 Low stock price volatility
Vol 12M is 47%
4 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Rare Disease Therapeutics, Targeted Therapies, Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -34%
6 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.43, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
7 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -313 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -33%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -20%
9 Key risks
BCRX key risks include [1] significant financial distress, Show more.

BCRX in ETFs

Weight = BCRX's share of each fund

IWM0.07%
VB0.02%
XBI0.86%
IBB0.15%
IWO0.13%
VTWO0.07%
SCHA0.05%
DFAS0.05%
+5 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/13/2026

BioCryst Pharmaceuticals (BCRX) stock has gained about 5% since 4/30/2026 because of the following key factors:

1. BioCryst Pharmaceuticals reported robust financial performance for fiscal Q2 2026, which ended June 30, 2026, significantly exceeding analyst expectations. The company announced earnings per share (EPS) of $0.30, a 94.6% beat over the consensus estimate of $0.15. Total revenue reached $218.3 million, surpassing estimates of $183.3 million by 19.1%. This strong performance included $55.7 million in one-time licensing revenue from the European navenibart deal. BioCryst also raised its full-year 2026 total revenue guidance to a range of $690 million to $715 million, an increase from its previous guidance of $635 million to $660 million.

2. Continued commercial strength of ORLADEYO and the successful launch of its pediatric formulation contributed to positive sentiment. ORLADEYO net revenue for fiscal Q2 2026 was $158.2 million, demonstrating 10% year-over-year growth on a comparable basis, excluding European divestiture. The company also initiated shipments of ORLADEYO oral pellets for pediatric patients with hereditary angioedema (HAE) on August 3, 2026. Early demand was strong, with 47 prescriptions received by July 31, 2026, exceeding initial full-year expectations.

Show more
Updated on 8/13/2026

BioCryst Pharmaceuticals (BCRX) stock has gained about 5% since 4/30/2026 because of the following key factors:

1. BioCryst Pharmaceuticals reported robust financial performance for fiscal Q2 2026, which ended June 30, 2026, significantly exceeding analyst expectations. The company announced earnings per share (EPS) of $0.30, a 94.6% beat over the consensus estimate of $0.15. Total revenue reached $218.3 million, surpassing estimates of $183.3 million by 19.1%. This strong performance included $55.7 million in one-time licensing revenue from the European navenibart deal. BioCryst also raised its full-year 2026 total revenue guidance to a range of $690 million to $715 million, an increase from its previous guidance of $635 million to $660 million.

2. Continued commercial strength of ORLADEYO and the successful launch of its pediatric formulation contributed to positive sentiment. ORLADEYO net revenue for fiscal Q2 2026 was $158.2 million, demonstrating 10% year-over-year growth on a comparable basis, excluding European divestiture. The company also initiated shipments of ORLADEYO oral pellets for pediatric patients with hereditary angioedema (HAE) on August 3, 2026. Early demand was strong, with 47 prescriptions received by July 31, 2026, exceeding initial full-year expectations.

3. Strategic initiatives to enhance capital efficiency and pipeline development through external innovation provided a clear path for future growth. In May 2026, BioCryst secured an upfront payment of $70 million through a licensing agreement for navenibart in Europe. Concurrently, the company announced a strategic pivot to wind down internal discovery programs and close its Birmingham facility, resulting in a reduction of full-year 2026 non-GAAP operating expense guidance to $420 million - $440 million, down from $450 million - $470 million. This shift underscores a focus on disciplined spending and leveraging external opportunities to build its rare disease pipeline.

4. Progress in the navenibart clinical program, with the completion of pivotal trial enrollment, offered a positive pipeline catalyst. BioCryst completed enrollment in the Phase 3 ALPHA-ORBIT study of navenibart in June 2026, ahead of schedule. This development for navenibart, an investigational long-acting plasma kallikrein inhibitor for HAE prophylaxis, reinforces the potential for future growth beyond ORLADEYO, with top-line data anticipated in fiscal Q3 2027.

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Stock Movement Drivers

Fundamental Drivers

The 7.1% change in BCRX stock from 4/30/2026 to 8/13/2026 was primarily driven by a 20.1% change in the company's P/S Multiple.
(LTM values as of)43020268132026Change
Stock Price ($)9.169.817.1%
Change Contribution By: 
Total Revenues ($ Mil)8759417.5%
P/S Multiple2.22.720.1%
Shares Outstanding (Mil)211254-17.1%
Cumulative Contribution7.1%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/13/2026
ReturnCorrelation
BCRX7.1% 
Market (SPY)8.2%5.6%
Sector (XLV)15.3%21.9%

Fundamental Drivers

The 49.1% change in BCRX stock from 1/31/2026 to 8/13/2026 was primarily driven by a 56.8% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120268132026Change
Stock Price ($)6.589.8149.1%
Change Contribution By: 
Total Revenues ($ Mil)60094156.8%
P/S Multiple2.32.715.1%
Shares Outstanding (Mil)210254-17.4%
Cumulative Contribution49.1%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/13/2026
ReturnCorrelation
BCRX49.1% 
Market (SPY)12.7%12.7%
Sector (XLV)9.3%25.2%

Fundamental Drivers

The 20.5% change in BCRX stock from 7/31/2025 to 8/13/2026 was primarily driven by a 86.8% change in the company's Total Revenues ($ Mil).
(LTM values as of)73120258132026Change
Stock Price ($)8.149.8120.5%
Change Contribution By: 
Total Revenues ($ Mil)50394186.8%
P/S Multiple3.42.7-21.4%
Shares Outstanding (Mil)209254-17.9%
Cumulative Contribution20.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/13/2026
ReturnCorrelation
BCRX20.5% 
Market (SPY)24.1%18.8%
Sector (XLV)30.8%22.4%

Fundamental Drivers

The 32.7% change in BCRX stock from 7/31/2023 to 8/13/2026 was primarily driven by a 224.7% change in the company's Total Revenues ($ Mil).
(LTM values as of)73120238132026Change
Stock Price ($)7.399.8132.7%
Change Contribution By: 
Total Revenues ($ Mil)290941224.7%
P/S Multiple4.82.7-44.8%
Shares Outstanding (Mil)189254-25.9%
Cumulative Contribution32.7%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/13/2026
ReturnCorrelation
BCRX32.7% 
Market (SPY)75.9%23.9%
Sector (XLV)31.4%26.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BCRX Return86%-17%-48%26%4%36%42%
Peers Return2%23%24%-8%46%1%110%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
BCRX Win Rate67%67%33%50%50%50% 
Peers Win Rate50%52%54%48%67%56% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
BCRX Max Drawdown-37%-60%-58%-46%-43%-21% 
Peers Max Drawdown-29%-23%-15%-32%-27%-26% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, REGN, IONS, GILD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/13/2026 (YTD)

How Low Can It Go

EventBCRXS&P 500
2025 US Tariff Shock
  % Loss-31.7%-18.8%
  % Gain to Breakeven46.5%23.1%
  Time to Breakeven25 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-34.8%-9.5%
  % Gain to Breakeven53.4%10.5%
  Time to Breakeven59 days24 days
2023 SVB Regional Banking Crisis
  % Loss-32.2%-6.7%
  % Gain to Breakeven47.6%7.1%
  Time to Breakeven676 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-43.9%-24.5%
  % Gain to Breakeven78.3%32.4%
  Time to Breakeven88 days427 days
2020 COVID-19 Crash
  % Loss-43.1%-33.7%
  % Gain to Breakeven75.6%50.9%
  Time to Breakeven30 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-10.8%-19.2%
  % Gain to Breakeven12.1%23.8%
  Time to Breakeven7 days105 days

Compare to VRTX, REGN, IONS, GILD

In The Past

BioCryst Pharmaceuticals's stock fell -31.7% during the 2025 US Tariff Shock. Such a loss loss requires a 46.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBCRXS&P 500
2025 US Tariff Shock
  % Loss-31.7%-18.8%
  % Gain to Breakeven46.5%23.1%
  Time to Breakeven25 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-34.8%-9.5%
  % Gain to Breakeven53.4%10.5%
  Time to Breakeven59 days24 days
2023 SVB Regional Banking Crisis
  % Loss-32.2%-6.7%
  % Gain to Breakeven47.6%7.1%
  Time to Breakeven676 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-43.9%-24.5%
  % Gain to Breakeven78.3%32.4%
  Time to Breakeven88 days427 days
2020 COVID-19 Crash
  % Loss-43.1%-33.7%
  % Gain to Breakeven75.6%50.9%
  Time to Breakeven30 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-20.0%-3.7%
  % Gain to Breakeven25.0%3.9%
  Time to Breakeven6 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-86.4%-12.2%
  % Gain to Breakeven633.7%13.9%
  Time to Breakeven1854 days62 days
2014-2016 Oil Price Collapse
  % Loss-87.7%-6.8%
  % Gain to Breakeven713.3%7.3%
  Time to Breakeven1854 days15 days
2013 Taper Tantrum
  % Loss-25.7%-0.2%
  % Gain to Breakeven34.5%0.2%
  Time to Breakeven21 days1 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-40.6%-17.9%
  % Gain to Breakeven68.4%21.8%
  Time to Breakeven179 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-26.2%-15.4%
  % Gain to Breakeven35.5%18.2%
  Time to Breakeven1164 days125 days
2008-2009 Global Financial Crisis
  % Loss-85.2%-53.4%
  % Gain to Breakeven577.3%114.4%
  Time to Breakeven242 days1085 days

Compare to VRTX, REGN, IONS, GILD

In The Past

BioCryst Pharmaceuticals's stock fell -31.7% during the 2025 US Tariff Shock. Such a loss loss requires a 46.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About BioCryst Pharmaceuticals (BCRX)

BioCryst Pharmaceuticals, Inc. (BCRX) is a biotechnology company focused on the discovery, development, and commercialization of novel, orally administered small-molecule medicines. The company leverages its expertise to create innovative therapies, primarily addressing rare and serious diseases, as well as certain infectious diseases.

The company currently markets two key products. Its influenza treatment, peramivir injection, is sold under the brand names RAPIVAB, RAPIACTA, and PERAMIFLU, providing an intravenous option for acute uncomplicated influenza. BioCryst's other significant commercial product is ORLADEYO, an oral medication specifically developed to treat hereditary angioedema (HAE), a rare genetic disorder characterized by recurring episodes of severe swelling.

Beyond its marketed therapies, BioCryst maintains an active pipeline of investigational drugs targeting various unmet medical needs. This includes BCX9930, an oral factor D inhibitor in Phase II clinical trials for complement-mediated diseases; BCX9250, an oral activin receptor-like kinase-2 inhibitor in Phase I for fibrodysplasia ossificans progressiva; and Galidesivir, an RNA dependent-RNA polymerase inhibitor also in Phase I, being developed to treat a range of severe RNA viral infections such as Marburg, Ebola, and Zika.

AI Analysis | Feedback

1. They are like a **Vertex Pharmaceuticals** for rare diseases, but also developing antiviral medicines.

2. Think of them as a specialized **Gilead Sciences** that also has a strong focus on developing oral drugs for rare diseases.

AI Analysis | Feedback

  • RAPIVAB (peramivir injection): An intravenous neuraminidase inhibitor for the treatment of acute uncomplicated influenza.
  • ORLADEYO: An oral serine protease inhibitor used to treat hereditary angioedema.
  • BCX9930: An oral factor D inhibitor currently in Phase II clinical trials for complement-mediated diseases.
  • BCX9250: An oral activin receptor-like kinase-2 inhibitor in Phase I clinical trials for fibrodysplasia ossificans progressiva.
  • Galidesivir: A RNA dependent-RNA polymerase inhibitor in Phase I clinical trials for various RNA viruses, including Marburg, Yellow Fever, Ebola, and Zika.

AI Analysis | Feedback

BioCryst Pharmaceuticals (BCRX) sells primarily to other companies through collaboration and in-license relationships for the distribution and marketing of its pharmaceutical products in various regions. The major customer companies identified from the provided description are:

  • Torii Pharmaceutical Co., Ltd. (TYO: 4551)
  • Seqirus UK Limited (a subsidiary of CSL Limited, ASX: CSL)
  • Shionogi & Co., Ltd. (TYO: 4507)
  • Green Cross Corporation (KRX: 006280)
  • Mundipharma International Holdings Limited (private company)

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Charlie Gayer, President and Chief Executive Officer

Charlie Gayer was appointed President of BioCryst Pharmaceuticals in August 2025 and assumed the role of Chief Executive Officer on January 1, 2026. He also joined the Board of Directors in January 2026. Mr. Gayer joined BioCryst in 2015 as Vice President of Global Strategic Marketing and was promoted to Chief Commercial Officer in January 2020. Before joining BioCryst, he held several U.S. and global commercial leadership positions in rare disease categories at Talecris Biotherapeutics, Inc., where he led U.S. alpha-1 antitrypsin deficiency marketing and later European sales and marketing. After Talecris was acquired by Grifols, S.A., Mr. Gayer led the U.S. marketing team for the combined immune globulin product portfolio. Earlier in his career, he spent six years at GlaxoSmithKline in various marketing and sales roles. He began his career as a strategic consultant for biopharmaceutical companies and served as a business analyst at Genzyme Corporation for three years. Mr. Gayer earned his B.A. in politics from Princeton University and his M.B.A. from the Fuqua School of Business of Duke University.

Babar Ghias, Chief Financial Officer and Head of Corporate Development

Babar Ghias was appointed Chief Financial Officer and Head of Corporate Development at BioCryst Pharmaceuticals, effective July 7, 2025. Prior to joining BioCryst, Mr. Ghias served as CFO at AvenCell Therapeutics since 2022. He previously served as executive vice president of investments and portfolio management at Paragon Biosciences, a global biotech development firm. At Paragon, he launched four biotechnology companies focused on rare diseases. From 2014 to 2017, Mr. Ghias was CFO and head of corporate development at Marathon Pharmaceuticals, a specialty rare disease company, where he prepared the company for a commercial launch and led its successful sale. He has raised over $1 billion in capital for companies he has been involved with. Earlier in his career, for over a decade, he was an investment banker at Credit Suisse, where he provided strategic advice to clients and boards of directors in the healthcare and life sciences industries, closing over $80 billion in transactions. Mr. Ghias holds an M.B.A. with honors from Washington University in St. Louis and a B.S. in economics from Lahore University of Management Sciences in Pakistan.

William P. Sheridan, Chief Development Officer

Dr. William P. Sheridan became Chief Development Officer at BioCryst Pharmaceuticals on September 14, 2022, focusing on advancing the company's pipeline. He initially joined BioCryst in July 2008 as Chief Medical Officer. Before his tenure at BioCryst, Dr. Sheridan spent 15 years at Amgen, Inc., where he held various Vice President-level roles, including Vice President-North American Medical Affairs. At Amgen, he was instrumental in building the international medical affairs function and contributing to the successful launch of numerous compounds, such as Aranesp®, Enbrel®, Kineret®, Neulasta®, and Sensipar®. Prior to Amgen, he served as the Head of the Bone Marrow Transplant Service at Royal Melbourne Hospital. Dr. Sheridan earned his MB BS degree (MD equivalent) at the University of Melbourne in Victoria, Australia. He is a board-certified Fellow of the Royal Australasian College of Physicians, with a sub-specialty in medical oncology, and a Fellow of the American College of Physicians.

Ryan Arnold, Chief Medical Officer

Dr. Ryan Arnold was appointed Chief Medical Officer of BioCryst Pharmaceuticals on September 15, 2022. He joined BioCryst in March 2022 as Senior Vice President of Global Medical Affairs. Dr. Arnold has over 20 years of industry experience, with prior roles of increasing responsibility in medical affairs at various companies, including Amgen, Genzyme, Biogen, Sage Therapeutics, and Annexon Biosciences. Throughout his career, he has contributed to building and leading medical functions, supporting the development and launch of numerous specialty and rare disease products across neurology, hematology, immunology, oncology, and other areas. Dr. Arnold holds a Doctorate of Osteopathic Medicine from the Michigan State University College of Osteopathic Medicine and completed residency training that included clinical responsibilities in otolaryngology and facial plastic surgery.

Alane Barnes, Chief Legal Officer and Corporate Secretary

Alane Barnes serves as the Chief Legal Officer and Corporate Secretary for BioCryst Pharmaceuticals. She has been with BioCryst as General Counsel since June 2006 and as Corporate Secretary since December 2006. Ms. Barnes has been involved in company filings as recently as January 2026.

AI Analysis | Feedback

The key risks to BioCryst Pharmaceuticals (BCRX) include intense competition for its primary marketed drug, the inherent uncertainties and potential failures in its clinical development pipeline, and the challenges associated with achieving and maintaining sustained profitability.
  1. Competition for ORLADEYO: BioCryst's flagship product, ORLADEYO (berotralstat), an oral treatment for hereditary angioedema (HAE), faces significant and growing competition in the market. This competition comes from established injectable HAE therapies, such as Takeda's Takhzyro and CSL Behring's Haegarda, as well as emerging oral options like Pharvaris' deucrictibant and sebetralstat. This competitive landscape could exert pressure on ORLADEYO's market share, pricing, and overall sales growth, potentially impacting BioCryst's revenue and its trajectory towards sustained profitability. Some analyses suggest a potential reduction in ORLADEYO's market share in the coming years.
  2. Clinical Development and Regulatory Risk for Pipeline Products: The future growth and diversification of BioCryst are heavily reliant on the successful development and regulatory approval of its pipeline candidates. The company has several drugs in early to mid-stage clinical trials, including BCX9930 (Phase II for complement-mediated diseases), BCX9250 (Phase I for fibrodysplasia ossificans progressiva), and Galidesivir (Phase I for various RNA viruses). Clinical trials inherently carry high risks of failure, and the inability to achieve positive results or secure necessary regulatory approvals for these programs would significantly hinder the company's long-term growth prospects. Even for ORLADEYO, delays or failures in obtaining approval for label expansions, such as for pediatric patients, can negatively affect growth projections.
  3. Dependence on ORLADEYO and Challenges to Sustained Profitability: BioCryst's financial health and ability to achieve sustained profitability are substantially tied to the continued commercial success of ORLADEYO. While the company has shown progress towards profitability, achieving and maintaining consistent positive cash flow remains a challenge. If ORLADEYO's revenues do not meet expectations, or if research and development expenses for pipeline candidates or commercial costs for marketed products are higher than anticipated, BioCryst may need to seek additional funding, potentially leading to shareholder dilution.

AI Analysis | Feedback

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AI Analysis | Feedback

BioCryst Pharmaceuticals' main products, ORLADEYO and peramivir injection, target significant addressable markets.

ORLADEYO (Hereditary Angioedema - HAE)

The global hereditary angioedema (HAE) therapeutics market was valued at approximately $4.1 billion in 2023 and is projected to reach $9.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.2% from 2024 to 2032. Another estimate places the global HAE therapeutic market size at $4.25 billion in 2024, with an expectation to reach $8.29 billion by 2032, at a CAGR of 8.72% during the forecast period. The United States represents a substantial portion of this market, accounting for approximately 90% of the HAE market size, or around $2 billion in 2023. North America held a 46.8% share of the global HAE therapeutics market in 2023 and is anticipated to maintain its dominance. BioCryst Pharmaceuticals projects that ORLADEYO could achieve peak annual sales exceeding $1 billion.

Peramivir Injection (Influenza)

Peramivir is an intravenous neuraminidase inhibitor used for the treatment of acute uncomplicated influenza. The global peramivir market is projected to reach $10.55 billion by 2030, with a robust CAGR of 15.55% from 2025 to 2033. In 2024, peramivir accounted for 18% of global anti-influenza drug prescriptions, which totaled over 550 million. More broadly, the global influenza antiviral drugs market is projected to reach approximately $5.8 billion by 2033, growing at a CAGR of 4.5% from 2025 to 2033. The global neuraminidase inhibitors drug market, which includes peramivir, was valued at $5.1 billion in 2025 and is projected to reach $9.7 billion by 2035, growing at a CAGR of 6.8%. North America is expected to hold a significant share of this market, with a projected 39.9% by 2035.

AI Analysis | Feedback

BioCryst Pharmaceuticals (BCRX) is poised for future revenue growth over the next 2-3 years, driven by several key factors:

  1. Continued Growth and Market Penetration of ORLADEYO in Adult Hereditary Angioedema (HAE) Patients: BioCryst anticipates sustained revenue increases from its flagship product, ORLADEYO. The company projects full-year 2026 ORLADEYO revenues to be between $625 million and $645 million, representing approximately 13% growth over 2025 revenues adjusted for Europe. This growth is fueled by increasing patient volume, strong patient retention rates (e.g., 61% of patients remaining on treatment at twelve months), and strategic pricing adjustments, including a 9% price increase in early January (2026) that is expected to result in a net 4.5% increase. BioCryst also has a long-term goal of ORLADEYO achieving $1 billion in annual sales by 2029.
  2. Expansion into the Pediatric HAE Market with ORLADEYO Pellets: A significant driver of future revenue is the recent FDA approval in December 2025 for ORLADEYO oral pellets for HAE patients aged 2 to less than 12 years. This new formulation positions ORLADEYO as a likely sole oral prophylactic option for this pediatric population for several years, opening up a new and important market segment. Management has expressed strong confidence in the long-term revenue potential from this pediatric indication.
  3. Advancement and Potential Launch of Navenibart for HAE: The acquisition of Astria Therapeutics in late 2025/early 2026 introduced Navenibart, a subcutaneously administered drug, into BioCryst's HAE pipeline. Navenibart is currently in Phase III clinical trials, with top-line data anticipated in early 2027 and a potential regulatory filing by the end of 2027. This asset is designed to be a differentiated injectable prophylaxis for HAE, offering the potential for less frequent dosing (every three or six months), and is expected to address an additional addressable market of over 5,000 patients, further strengthening BioCryst's HAE franchise.

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Share Issuance

  • BioCryst Pharmaceuticals registered 11,000,000 shares of common stock for issuance under its Stock Incentive Plan in 2025.
  • The total outstanding shares for BioCryst Pharmaceuticals increased from 182 million to 210 million between 2021 and 2025.
  • In Q4 2025, shares outstanding increased by 1.2% from the prior quarter, reaching 213 million shares.

Inbound Investments

  • BioCryst Pharmaceuticals ended 2025 with $337.5 million in cash and investments.
  • The company had access to a $400 million financing facility with Blackstone Life Sciences.

Outbound Investments

  • BioCryst completed the acquisition of Astria Therapeutics, Inc. in late 2025/early 2026 to expand its Hereditary Angioedema (HAE) portfolio.
  • In October 2025, BioCryst sold its European ORLADEYO business to Neopharmed Gentili S.p.A., generating $243.3 million in revenue.

Capital Expenditures

  • Capital expenditures were reported as -$2.47 million in the last 12 months.
  • In Q4 2025, capital expenditures were $802K, marking a decrease of 40.3% from the prior quarter.
  • Increased research and development (R&D) costs are anticipated in 2026, primarily due to ongoing Phase III trials and BLA enabling CMC activities for Navenabart.

Better Bets vs. BioCryst Pharmaceuticals (BCRX)

Peer Outperformance in Pharmaceuticals

BCRX has trailed 52% of its 62 Pharmaceuticals peers over 5Y. Among the peers that beat it is KNSA. Pharmaceuticals ranks 7th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Pharmaceuticals constituents that BCRX has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
61%
of 74 industry peers · 15.0% return
3Y
62%
of 69 industry peers · 37.4% return
5Y
48%
of 62 industry peers · -39.3% return
Pharmaceuticals peers with revenue growth within 4pp of BCRX's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
BCRX BioCryst Pharmaceuticals 46.4% -6.5x 15.0%37.4%-39.3%
KNSA Kiniksa Pharmaceuticals International 45.2% 74.9x 131.3%357.8%535.9% +575pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Pharmaceuticals is BCRX's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 7 7.3%69.1%142.2% CAH 399% · MCK 343% · COR 173%
Health Care Services 20 20.4%33.2%7.3% HIMS 244% · RDNT 153% · DGX 76%
Managed Health Care 8 44.6%-6.2%5.5% OSCR 109% · HQY 54% · ELV 16%
Health Care Facilities 24 8.4%-10.5%-15.0% THC 281% · NHC 236% · ENSG 120%
Health Care Equipment 51 -2.5%-12.3%-17.5% POCI 10400% · UFPT 413% · GKOS 287%
Health Care Supplies 12 33.7%-14.2%-26.0% LNTH 296% · HAE 48% · MMSI 37%
Pharmaceuticals ← 63 0.7%-3.0%-38.7% LQDA 2611% · INDV 1499% · ETON 823%
Health Care Technology 21 -20.3%-53.8%-71.8% SPOK 135% · TALK 0% · HSTM -3%
Life Sciences Tools & Services 108 -1.7%-35.0%-74.3% SNWV 1847% · ELMD 264% · MEDP 228%
Biotechnology 365 5.5%-31.6%-79.0% BRTX 110000% · CELZ 1671% · DNTH 1599%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BCRXVRTXREGNIONSGILDMedian
NameBioCryst.Vertex P.Regenero.Ionis Ph.Gilead S. 
Mkt Price9.81516.44805.9755.87138.14138.14
Mkt Cap2.5131.082.99.2171.782.9
Rev LTM94112,58715,53587430,45612,587
Op Inc LTM-3134,7774,174-59411,7164,174
FCF LTM3733,7963,575-56812,9433,575
FCF 3Y Avg1011,9573,439-4109,7361,957
CFO LTM3764,2934,681-49613,5524,293
CFO 3Y Avg1032,3984,498-35810,2962,398

Growth & Margins

BCRXVRTXREGNIONSGILDMedian
NameBioCryst.Vertex P.Regenero.Ionis Ph.Gilead S. 
Rev Chg LTM68.7%10.2%9.3%-7.4%5.5%9.3%
Rev Chg 3Y Avg46.4%9.8%7.0%12.5%3.6%9.8%
Rev Chg Q33.6%12.5%16.7%-40.7%10.2%12.5%
QoQ Delta Rev Chg LTM6.2%3.0%4.1%-17.4%2.4%3.0%
Op Inc Chg LTM-677.8%2,497.9%6.1%-123.0%7.6%6.1%
Op Inc Chg 3Y Avg-147.1%792.2%-1.7%-24.5%-0.8%-1.7%
Op Mgn LTM-33.3%37.9%26.9%-68.0%38.5%26.9%
Op Mgn 3Y Avg-13.1%23.9%28.2%-47.0%37.0%23.9%
QoQ Delta Op Mgn LTM9.8%-0.2%1.1%-34.7%-1.6%-0.2%
CFO/Rev LTM40.0%34.1%30.1%-56.8%44.5%34.1%
CFO/Rev 3Y Avg7.0%19.6%31.2%-41.2%35.2%19.6%
FCF/Rev LTM39.7%30.2%23.0%-64.9%42.5%30.2%
FCF/Rev 3Y Avg6.7%15.7%23.9%-47.1%33.3%15.7%

Valuation

BCRXVRTXREGNIONSGILDMedian
NameBioCryst.Vertex P.Regenero.Ionis Ph.Gilead S. 
Mkt Cap2.5131.082.99.2171.782.9
P/S2.710.45.310.65.65.6
P/Op Inc-8.027.419.9-15.514.714.7
P/EBIT-8.226.015.9-19.3-179.4-8.2
P/E-6.529.719.1-16.4-53.0-6.5
P/CFO6.630.517.7-18.612.712.7
Total Yield-15.4%3.4%5.7%-6.1%0.5%0.5%
Dividend Yield0.0%0.0%0.5%0.0%2.4%0.0%
FCF Yield 3Y Avg2.9%1.6%4.9%-4.8%7.7%2.9%
D/E0.30.00.00.20.20.2
Net D/E0.2-0.0-0.1-0.00.1-0.0

Returns

BCRXVRTXREGNIONSGILDMedian
NameBioCryst.Vertex P.Regenero.Ionis Ph.Gilead S. 
1M Rtn0.7%8.4%22.8%1.7%6.2%6.2%
3M Rtn2.5%14.7%13.2%-26.2%5.3%5.3%
6M Rtn44.3%11.1%3.1%-31.7%-7.9%3.1%
12M Rtn15.0%30.4%44.3%29.6%18.0%29.6%
3Y Rtn37.4%47.8%0.5%40.1%90.9%40.1%
1M Excs Rtn1.3%5.3%18.3%-0.9%1.9%1.9%
3M Excs Rtn-2.6%9.2%7.4%-32.8%-0.3%-0.3%
6M Excs Rtn31.1%-0.4%-8.6%-46.1%-22.6%-8.6%
12M Excs Rtn-3.5%12.2%24.6%13.9%-2.9%12.2%
3Y Excs Rtn-33.6%-23.4%-69.2%-32.1%17.1%-32.1%

Comparison Analyses

null

FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA219776  ORLADEYOberotralstat dihydrochloridepellets1211202510.6%12.1%29.4%29.4%29.4%
NDA214094  ORLADEYOberotralstat dihydrochloridecapsule12032020112.7%218.6%122.8%149.1%91.0%
NDA206426  RAPIVABperamivirsolution12192014-15.0%39.9%-8.0%-44.5%-12.1%
Collapse to Preview
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA219776  ORLADEYOberotralstat dihydrochloridepellets1211202510.6%12.1%29.4%29.4%29.4%
NDA214094  ORLADEYOberotralstat dihydrochloridecapsule12032020112.7%218.6%122.8%149.1%91.0%
NDA206426  RAPIVABperamivirsolution12192014-15.0%39.9%-8.0%-44.5%-12.1%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment875451331271 
Collaborative and other revenues    21
Product sales, net    136
Total875451331271157


Net Income by Segment
$ Mil2025202420232022
Single Segment264-89-227-247
Total264-89-227-247


Price Behavior

Price Behavior
Market Price$9.81 
Market Cap ($ Bil)2.4 
First Trading Date03/04/1994 
Distance from 52W High-11.7% 
   50 Days200 Days
DMA Price$9.42$8.35
DMA Trendupup
Distance from DMA4.2%17.5%
 3M1YR
Volatility51.6%47.1%
Downside Capture-68.1639.12
Upside Capture-44.9446.26
Correlation (SPY)11.6%16.8%
BCRX Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta-0.160.330.370.560.760.91
Up Beta-1.440.730.550.901.110.82
Down Beta1.261.051.781.450.560.74
Up Capture-99%-3%-20%42%59%95%
Bmk +ve Days11223567138427
Stock +ve Days9212859112346
Down Capture62%-8%-20%-21%80%103%
Bmk -ve Days11212859114326
Stock -ve Days13223567137389

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BCRX
BCRX17.6%47.0%0.48-
Sector ETF (XLV)30.2%15.5%1.4921.5%
Equity (SPY)22.2%12.8%1.2915.7%
Gold (GLD)29.6%28.5%0.906.8%
Commodities (DBC)36.9%20.1%1.45-9.7%
Real Estate (VNQ)15.2%13.9%0.782.1%
Bitcoin (BTCUSD)-47.3%42.9%-1.3710.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BCRX
BCRX-10.6%62.2%0.07-
Sector ETF (XLV)6.4%15.0%0.2426.3%
Equity (SPY)13.5%17.2%0.6128.9%
Gold (GLD)18.8%18.6%0.829.4%
Commodities (DBC)9.2%19.6%0.362.6%
Real Estate (VNQ)2.2%18.9%0.0122.8%
Bitcoin (BTCUSD)9.2%52.8%0.3618.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BCRX
BCRX9.6%72.5%0.46-
Sector ETF (XLV)10.2%16.6%0.5028.7%
Equity (SPY)15.5%17.9%0.7330.4%
Gold (GLD)11.9%16.2%0.607.7%
Commodities (DBC)7.7%18.0%0.3410.2%
Real Estate (VNQ)4.9%20.7%0.2022.1%
Bitcoin (BTCUSD)60.3%66.1%1.007.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7312026
Short Interest: Shares Quantity32.8 Mil
Short Interest: % Change Since 71520265.1%
Average Daily Volume2.6 Mil
Days-to-Cover Short Interest12.4 days
Basic Shares Quantity254.5 Mil
Short % of Basic Shares12.9%

Earnings Returns History

Updated 8/4/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/2026-2.2%-2.5%-6.2%
2/26/20264.6%13.5%26.6%
11/3/2025-6.3%-3.1%7.2%
8/4/20259.8%4.4%4.3%
5/5/202523.5%11.6%25.3%
2/24/2025-10.0%-6.5%-12.6%
11/4/2024-12.8%-7.7%-14.7%
8/5/20247.0%8.7%17.5%
...
SUMMARY STATS   
# Positive121114
# Negative131411
Median Positive11.1%11.6%15.7%
Median Negative-6.3%-5.5%-12.6%
Max Positive25.6%32.4%52.5%
Max Negative-18.1%-22.0%-21.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/2026-2.2%-2.5%-6.2%
2/26/20264.6%13.5%26.6%
11/3/2025-6.3%-3.1%7.2%
8/4/20259.8%4.4%4.3%
5/5/202523.5%11.6%25.3%
2/24/2025-10.0%-6.5%-12.6%
11/4/2024-12.8%-7.7%-14.7%
8/5/20247.0%8.7%17.5%
5/6/202418.4%19.6%51.5%
2/26/20241.4%-1.6%-14.0%
1/8/202425.6%4.3%-9.5%
11/2/2023-1.6%-4.5%7.3%
8/3/20231.9%0.6%2.3%
5/3/202312.5%16.4%13.8%
2/21/2023-15.3%-11.5%-19.9%
11/1/2022-11.2%-11.4%0.1%
8/4/202223.2%32.4%26.5%
5/5/2022-3.9%-22.0%2.7%
2/23/2022-5.9%-5.2%-7.5%
11/3/2021-18.1%-14.5%-21.6%
8/5/20218.5%-4.2%-2.2%
5/6/202121.0%16.9%52.5%
2/25/2021-11.3%0.5%-9.3%
11/5/2020-0.8%-0.2%42.9%
8/6/2020-5.0%-5.7%-13.1%
SUMMARY STATS   
# Positive121114
# Negative131411
Median Positive11.1%11.6%15.7%
Median Negative-6.3%-5.5%-12.6%
Max Positive25.6%32.4%52.5%
Max Negative-18.1%-22.0%-21.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/06/202610-Q
12/31/202502/26/202610-K
09/30/202511/04/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/25/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202302/27/202410-K
09/30/202311/08/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202202/27/202310-K
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/06/202610-Q
12/31/202502/26/202610-K
09/30/202511/04/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/25/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202302/27/202410-K
09/30/202311/08/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202202/27/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
03/31/202205/09/202210-Q
12/31/202102/28/202210-K
09/30/202111/04/202110-Q
06/30/202108/09/202110-Q
03/31/202105/07/202110-Q
12/31/202003/01/202110-K
09/30/202011/06/202010-Q
06/30/202008/10/202010-Q
03/31/202005/11/202010-Q
12/31/201903/13/202010-K
09/30/201911/08/201910-Q

Recent Forward Guidance

Updated 7/12/2026

Latest: Q1 2026 Earnings Reported 5/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 ORLADEYO revenue625.00 Mil635.00 Mil645.00 Mil0 AffirmedGuidance: 635.00 Mil for 2026
2026 Total revenue635.00 Mil647.50 Mil660.00 Mil0 AffirmedGuidance: 647.50 Mil for 2026
2026 Non-GAAP operating expense450.00 Mil460.00 Mil470.00 Mil0 AffirmedGuidance: 460.00 Mil for 2026

Prior: Q4 2025 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 ORLADEYO revenue625.00 Mil635.00 Mil645.00 Mil6.7% Higher NewGuidance: 595.00 Mil for 2025
2026 Total revenue635.00 Mil647.50 Mil660.00 Mil   
2026 Non-GAAP operating expense450.00 Mil460.00 Mil470.00 Mil5.7% Higher NewGuidance: 435.00 Mil for 2025

Q3 2025 Earnings Reported 11/3/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 ORLADEYO Revenue590.00 Mil595.00 Mil600.00 Mil0.8% RaisedGuidance: 590.00 Mil for 2025
2025 Non-GAAP Operating Expenses430.00 Mil435.00 Mil440.00 Mil-2.2% LoweredGuidance: 445.00 Mil for 2025

Insider Activity

Updated 6/15/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1McKee, Amy E DirectSell51920268.9711,180100,285280,330Form
2Barnes, Alane PChief Legal OfficerDirectSell51520269.5462,500596,2503,822,707Form
3Heggie, Theresa DirectSell324202610.1149,933504,823660,709Form
4Barnes, Alane PChief Legal OfficerDirectSell31820269.15150,0001,372,5003,666,432Form
5Barnes, Alane PChief Legal OfficerDirectSell122320257.6521,773166,5633,050,445Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1McKee, Amy E DirectSell51920268.9711,180100,285280,330Form
2Barnes, Alane PChief Legal OfficerDirectSell51520269.5462,500596,2503,822,707Form
3Heggie, Theresa DirectSell324202610.1149,933504,823660,709Form
4Barnes, Alane PChief Legal OfficerDirectSell31820269.15150,0001,372,5003,666,432Form
5Barnes, Alane PChief Legal OfficerDirectSell122320257.6521,773166,5633,050,445Form
6Barnes, Alane PChief Legal OfficerDirectSell121620257.6521,210162,2562,415,304Form
7Barnes, Alane PChief Legal OfficerDirectSell120320257.6519,770151,2402,642,891Form
8Barnes, Alane PChief Legal OfficerDirectSell120320257.2150,906367,2162,634,739Form
9Barnes, Alane PChief Legal OfficerDirectSell120320257.1091,004646,5112,956,427Form
10Sanders, MacHelle DirectSell111720257.149,60068,544218,784Form
11Heggie, Theresa DirectSell81520258.5170,000595,868556,302Form

Investor Activity (13F)

Updated Aug 14, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Kynam Capital Management, LP$54.1 Mil3.4%36TRIM -39.4%13F
TCG Crossover Management, LLC$104.9 Mil3.0%49New13F
Elmind Capital, LP$9.5 Mil2.7%34TRIM -53.5%13F
Frazier Life Sciences Management, L.P.$38.2 Mil1.0%38New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
TCG Crossover Management, LLC$104.9 Mil3.0%49New13F
Frazier Life Sciences Management, L.P.$38.2 Mil1.0%38New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Elmind Capital, LP$9.5 Mil2.7%34TRIM -53.5%13F
Kynam Capital Management, LP$54.1 Mil3.4%36TRIM -39.4%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
TCG Crossover Management, LLC$104.9 Mil3.0%49New13F
Kynam Capital Management, LP$54.1 Mil3.4%36TRIM -39.4%13F
Frazier Life Sciences Management, L.P.$38.2 Mil1.0%38New13F
Elmind Capital, LP$9.5 Mil2.7%34TRIM -53.5%13F
Core Cache Last Updated: 8/13/2026