The combination of strong commercial growth, first-time profitability, and a strategic acquisition with near-term catalysts (navenibart Phase 3 data) positions BioCryst for sustained expansion. Traders should monitor the upcoming AAAAI presentation for navenibart data and assess whether 2026 revenue guidance is exceeded, which could drive further upside.
Price Chart
Executive Summary
BioCryst reported a transformative 2025 with $601.8 million in ORLADEYO net revenue (up 38% YoY), achieving its first full-year profitability on record GAAP and non-GAAP operating profit. The company completed the acquisition of Astria Therapeutics, adding the late-stage HAE candidate navenibart, and maintained its 2026 revenue guidance of $625–$645 million.
Key Financial Metrics
Key Facts
- Full year 2025 ORLADEYO net revenue was $601.8 million, a 38% year-over-year increase (43% excluding European business sale)
- Achieved record GAAP operating profit of $341.0 million and non-GAAP operating profit of $214.2 million in 2025
- Completed acquisition of Astria Therapeutics in January 2026, adding navenibart, a Phase 3 monoclonal antibody for HAE prophylaxis
- Received FDA approval for ORLADEYO oral pellets for pediatric HAE patients aged 2 to <12 years
- Maintained 2026 ORLADEYO revenue guidance between $625 million and $645 million
- Non-GAAP total revenue for 2025 was $592.9 million, up 45% year-over-year
Financial Impact
ORLADEYO revenue grew 38% YoY to $601.8 million; total GAAP revenue reached $874.8 million (up from $450.7 million in 2024) due to a $243.3 million license revenue from divestiture
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| ORLADEYO | $601.8M | +37.5% |
Risk Factors
- 2025 GAAP revenue includes a one-time $243.3 million license revenue from the European business sale, which is not recurring
- The company incurred a $17.3 million loss on extinguishment of debt in 2025
- Future stock-based compensation and transaction costs are uncertain and could impact GAAP results
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-001119 |
| Document: f8k_022626.htm | 0001171843-26-001119 |
| Document: 0001171843-26-001119-index-headers.html | 0001171843-26-001119 |
| Document: 0001171843-26-001119-index.html | 0001171843-26-001119 |
| Document: 0001171843-26-001119.txt | 0001171843-26-001119 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | 8-K | $9.07 $10.17 | ▲ +12.13% | ▲ +12.73% | $8.14 (−10.25%) |
Jun 29, 2026 13w ago | 8-K | $9.55 $9.34 | ▼ −2.20% | ▼ −1.92% | $8.14 (−14.76%) |
Jun 12, 2026 15w ago | 8-K | $9.06 $9.91 | ▲ +9.38% | ▲ +10.13% | $8.14 (−10.15%) |
Jun 12, 2026 16w ago | Press Release | $8.70 $10.45 | ▲ +20.11% | ▲ +18.34% | $8.14 (−6.44%) |
May 19, 2026 19w ago | Insider Cluster | $8.74 $8.99 | ▲ +2.86% | ▲ +2.12% | $8.14 (−6.86%) |
May 13, 2026 20w ago | 144 | $9.60 $8.50 | ▼ −11.46% | ▼ −10.85% | $8.14 (−15.21%) |
May 6, 2026 21w ago | 8-K | $8.83 $8.25 | ▼ −6.57% | ▼ −9.35% | $8.14 (−7.81%) |
May 4, 2026 21w ago | 8-K | $9.20 $8.57 | ▼ −6.85% | ▼ −12.49% | $8.14 (−11.52%) |
Apr 23, 2026 23w ago | DEFA14A | $8.94 $8.37 | ▼ −6.38% | ▼ −10.40% | $8.14 (−8.95%) |
Apr 15, 2026 24w ago | Press Release | $9.44 $8.80 | ▼ −6.78% | ▼ −12.82% | $8.14 (−13.77%) |
US Market Status
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