BioCryst Reports $721.8M Q1 Loss, $156.4M Revenue and Strong ORLADEYO Sales
BCRX•BioCryst posted a first-quarter loss of $721.8 million (loss per share $2.98) with adjusted loss of $0.03, missing expectations, on revenue of $156.4 million. ORLADEYO generated $148.3 million net sales, ahead of 2025 averages, while navenibart's ALPHA-ORBIT trial exceeds enrollment and Astria integration leads ahead of schedule.
1. Q1 Financial Results
BioCryst recorded a net loss of $721.8 million for the first quarter, equating to a $2.98 loss per share and an adjusted loss of $0.03. Total revenue reached $156.4 million, falling short of analyst expectations, and the company reaffirmed full-year revenue guidance of $635 million to $660 million.
2. ORLADEYO Performance
ORLADEYO net revenue climbed to $148.3 million as new patient prescriptions tracked slightly above 2025 levels. Management highlighted the oral prophylaxis’s competitive edge over injectable entrants, attributing sustained growth to patient preference for an oral dosing profile.
3. Pipeline and Strategic Updates
The ALPHA-ORBIT pivotal trial for navenibart is surpassing enrollment targets, reflecting strong demand for longer dosing intervals. BioCryst discontinued its avoralstat program in diabetic macular edema to sharpen R&D focus, and the integration of Astria Therapeutics is progressing faster than planned, supporting strategic expansion.
