BioCryst Pharma (BCRX) Posts Surprise Q2 Profit

BioCryst Pharma (NASDAQ: BCRX) reported Q2 EPS of $0.07, $0.29 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $25.8 million versus the consensus estimate of $7.1 million.

Cash, cash equivalents and investments increased to $132.0 million at June 30, 2015, compared to $114.0 million at December 31, 2014. This increase resulted primarily from the RAPIVAB upfront licensing payment received from bioCSL. Net operating cash use for the second quarter of 2015 was $12.0 million, as compared to $6.8 million for the second quarter of 2014. Net operating cash use for the first six months of 2015 was $15.8 million as compared to $11.8 million for the 2014 period. With inclusion of the upfront payment from bioCSL, the Company had cash generation of $21.8 and $17.9 million for the second quarter and six months ended June 30, 2015, respectively.

Financial Outlook for 2015

Based upon development plans and assumptions and our awarded government contracts, BioCryst expects its 2015 net operating cash use to be in the range of $18 to $28 million upon adjusting our previously predicted range for the first six month results, including the $33.7 million upfront payment from bioCSL, and expects its 2015 operating expenses to continue to be in the range of $75 to $95 million. Our operating expense range excludes equity-based compensation expense due to the difficulty in reliably projecting this expense as it is impacted by the volatility and price of the Company's stock, as well as by the vesting of the Company's outstanding performance-based stock options.

For earnings history and earnings-related data on BioCryst Pharma (BCRX) click here.

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