BioCryst reports 2025 ORLADEYO revenue of $601 million, up 37%

BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) reported preliminary 2025 net revenue of $601 million for its ORLADEYO drug, representing a 37% increase from the previous year and exceeding the company's guidance range of $590 million to $600 million.

The fourth quarter 2025 ORLADEYO net revenue reached $151 million, marking a 22% year-over-year increase. Excluding European ORLADEYO revenue, the company's comparable basis revenue for 2025 was $563 million, up 43% year-over-year.

BioCryst projects 2026 global net ORLADEYO revenue between $625 million and $645 million, with total revenue including RAPIVAB expected to range from $635 million to $660 million. The company reported $338 million in cash, cash equivalents, restricted cash and investments as of December 31, 2025.

The company expects 2026 non-GAAP operating expenses between $380 million and $390 million, excluding stock-based compensation, restructuring and transaction-related costs. Following the expected first quarter 2026 acquisition of Astria Therapeutics, BioCryst anticipates additional operating expenses of $70 million to $80 million in 2026.

ORLADEYO is an oral treatment for hereditary angioedema that BioCryst has positioned as a once-daily prophylaxis option. The company sold its European ORLADEYO business during 2025, which affected the comparable revenue calculations for both quarters and full-year periods.

BioCryst expects to maintain non-GAAP profitability in 2026 despite the additional costs from the proposed Astria acquisition. The information is based on the company's press release statement.

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