BIOCRYST PHARMACEUTICALS INC BCRX
We are a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema ("HAE") and other rare diseases, driven by our deep commitment to improving the lives of people living with these conditions. We have built a robust commercial infrastructure to support the successful commercialization of ORLADEYO, an oral, once-daily therapy discovered and developed internally for the prevention of HAE attacks. Our business strategy includes leveraging this established commercial platform to successfully commercialize a pipeline of potential first-in-class or best-in class oral small molecule and injectable protein therapeutics targeting a range of rare diseases. These programs are being pursued through both internal discovery efforts and strategic business development. By utilizing our existing commercial capabilities and focusing on rare disease markets, we believe that we can more effectively optimize costs and strategically allocate resources to support long-term, sustainable growth.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $874.8M | $450.7M | $331.4M | $270.8M | $157.2M | $17.8M | $48.8M | $20.7M | $25.2M | $26.4M |
| Cost of revenue | $19.1M | $12.3M | $4.5M | $6.4M | $7.2M | $1.6M | $3.7M | — | $1.1M | $2.3M |
| Gross profit | $855.8M | $438.4M | $326.9M | $264.4M | $149.9M | $16.3M | $45.1M | — | $24.0M | $24.1M |
| R&D | $166.1M | $174.6M | $216.6M | $253.3M | $208.8M | $123.0M | $107.1M | $84.9M | $67.0M | $61.0M |
| SG&A | $348.6M | $266.3M | $214.1M | $159.4M | $118.8M | $67.9M | $37.1M | $29.5M | $13.9M | $11.3M |
| Total operating expenses | $533.8M | $453.3M | $435.1M | $419.3M | $334.9M | $192.6M | $148.3M | $114.9M | $82.6M | $75.0M |
| Operating income | $341.0M | -$2.5M | -$103.7M | -$148.4M | -$177.7M | -$174.8M | -$99.5M | -$94.2M | -$57.4M | -$48.6M |
| Interest expense | $78.9M | $98.5M | $108.2M | $99.1M | $59.3M | $14.5M | $11.9M | $9.2M | $8.6M | $6.5M |
| Pre-tax income | $267.4M | -$87.0M | -$226.2M | -$244.4M | -$181.8M | -$182.8M | -$108.9M | -$101.3M | -$65.8M | -$55.1M |
| Income tax | $3.5M | $1.9M | $310.0K | $2.7M | $2.3M | $0 | $0 | $0 | $0 | $0 |
| Net income | $263.9M | -$88.9M | -$226.5M | -$247.1M | -$184.1M | -$182.8M | -$108.9M | -$101.3M | -$65.8M | -$55.1M |
| EPS, basic | 1.26 | -0.43 | -1.18 | -1.33 | -1.03 | -1.09 | — | — | — | — |
| EPS, diluted | 1.21 | -0.43 | -1.18 | -1.33 | -1.03 | -1.09 | -940.00 | -0.98 | -0.78 | -0.75 |
| Shares, diluted (wtd. avg.) | $218.6M | $206.7M | $192.2M | $185.9M | $179.1M | $167.3M | $115.6M | $103.2M | $84.5M | $73.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $89.7M | $104.7M | $110.6M | $306.2M | $504.4M | $272.1M | $114.2M | $26.7M | $50.3M | $22.1M |
| Short-term investments | $185.0M | $216.1M | $278.3M | $119.5M | $3.2M | $28.2M | $22.1M | $77.7M | $64.1M | $32.5M |
| Receivables | $106.8M | $79.1M | $57.0M | $50.6M | $29.4M | $8.6M | $22.1M | $4.3M | $6.1M | $8.8M |
| Inventory | $5.4M | $8.1M | $28.7M | $27.5M | $15.8M | $7.0M | $0 | $1.6M | — | $500.0K |
| Total current assets | $404.3M | $422.0M | $496.0M | $516.5M | $566.1M | $323.8M | $164.3M | $114.4M | $125.4M | $67.0M |
| Property, plant and equipment | $8.8M | $7.8M | $7.9M | $8.6M | $8.7M | $7.1M | $7.3M | $9.1M | $9.5M | $9.9M |
| Total assets | $514.2M | $490.4M | $517.0M | $550.0M | $588.2M | $334.7M | $175.3M | $146.8M | $178.3M | $89.8M |
| Accounts payable | $15.8M | $11.6M | $20.9M | $14.4M | $27.8M | $18.7M | $14.0M | $7.8M | $6.3M | $4.3M |
| Total current liabilities | $196.1M | $160.4M | $150.0M | $105.5M | $103.7M | $105.7M | $92.3M | $69.5M | $74.8M | $54.4M |
| Long-term debt | $0 | $314.9M | $303.2M | $231.6M | $298.1M | $122.6M | $0 | $30.0M | $23.0M | $23.0M |
| Total liabilities | $633.3M | $966.4M | $972.5M | — | — | — | — | — | — | — |
| Retained earnings | -$1.51B | -$1.77B | -$1.68B | -$1.45B | -$1.21B | -$1.02B | -$840.6M | -$732.0M | -$631.8M | -$566.1M |
| Total equity | -$119.2M | -$475.9M | -$455.5M | -$294.6M | -$107.0M | -$19.3M | $38.3M | $49.2M | $83.8M | $1.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $347.4M | -$52.0M | -$95.1M | -$161.8M | -$142.2M | -$135.1M | -$89.6M | -$92.6M | -$41.1M | -$53.4M |
| Depreciation and amortisation | $1.4M | $1.2M | $1.7M | $1.4M | $777.0K | $748.0K | $724.0K | $770.0K | $704.0K | $483.0K |
| Stock-based compensation | $85.1M | $65.4M | $55.6M | $44.7M | $34.6M | $14.8M | $17.7M | $9.4M | $12.6M | $8.5M |
| Capital expenditure | $2.5M | $1.1M | $2.2M | $1.4M | $2.4M | $514.0K | $343.0K | $366.0K | $328.0K | $5.3M |
| Investing cash flow | -$13.7M | $52.6M | -$131.5M | -$128.2M | $15.8M | -$6.9M | $77.9M | $4.8M | -$64.6M | $23.3M |
| Financing cash flow | -$349.9M | -$5.8M | $32.5M | $88.0M | $359.7M | $300.6M | $99.1M | $62.5M | $135.7M | $23.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-026822.
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