In This Article:
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Total Revenue: $145.5 million for the quarter.
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ORLADEYO Revenue: $134.2 million, with $120.2 million from the US.
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Operating Expenses (excluding stock-based compensation): $102.9 million, up from $93.6 million in the same quarter last year.
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Operating Profit: $21.2 million for the first quarter of 2025.
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Net Income: Slightly positive for the quarter.
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Cash Position: $317 million at the end of the quarter.
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Debt Reduction: Paid down $75 million, reducing outstanding debt to $249 million.
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Annual Revenue Guidance for ORLADEYO: Raised to between $580 million and $600 million, representing 33% to 37% growth over last year.
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Non-GAAP Operating Expense Guidance: $440 million to $450 million for the year.
Release Date: May 05, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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BioCryst Pharmaceuticals Inc (NASDAQ:BCRX) reported a strong first quarter with revenue of $145.5 million, driven by ORLADEYO sales.
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The company raised its annual revenue guidance for ORLADEYO to between $580 million and $600 million, indicating 33% to 37% growth over the previous year.
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BioCryst Pharmaceuticals Inc (NASDAQ:BCRX) achieved a significant improvement in the paid rate for ORLADEYO, reaching 84%, which was expected to take three years but was accomplished in four months.
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The company is on track to be profitable on a full-year basis in 2025, a year earlier than previously planned.
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BioCryst Pharmaceuticals Inc (NASDAQ:BCRX) paid down $75 million of its debt, reducing outstanding debt to $249 million and saving approximately $23 million in interest payments over the life of the debt.
Negative Points
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The typical revenue jump in Q2 will be less pronounced than in prior years due to the accelerated revenue capture in Q1.
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Operating expenses increased to $102.9 million, up from $93.6 million in the same quarter last year, driven by commercial expansion and support activities.
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The company faces challenges in conducting clinical trials for rare diseases like Netherton syndrome due to the lack of existing therapies and organized patient advocacy.
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The path to achieving $1 billion in global revenue by 2029 for ORLADEYO is still dependent on capturing more patients and maintaining growth momentum.
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The pediatric launch of ORLADEYO, while promising, has not yet been quantified in terms of revenue impact, and the uptake dynamics remain uncertain.
Q & A Highlights
Q: Can you provide insights into the potential pediatric launch for ORLADEYO and its impact on the market? A: Charles Gayer, Chief Commercial Officer, explained that there are approximately 500 pediatric HAE patients in the US, with at least 200 potentially suitable for prophylactic therapy. The introduction of an oral option like ORLADEYO could change the treatment landscape, as there is no preference for injectables among children. The expectation is that ORLADEYO will become the market leader due to its ease of administration compared to injectables.