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Jun 30, 2025
BioCryst Q2 2025 Earnings Report
BioCryst reported strong financial results for the second quarter of 2025, driven by significant revenue growth from ORLADEYO and improved operating profit.
Key Takeaways
BioCryst Pharmaceuticals delivered its best financial performance in company history during the second quarter of 2025, primarily due to better-than-expected revenue growth from ORLADEYO and substantial operating profit. The company also strengthened its financial position through an additional debt paydown and plans to retire all remaining term debt with proceeds from the sale of its European ORLADEYO business.
ORLADEYO net revenue reached $156.8 million in Q2 2025, marking a 45 percent year-over-year increase.
Operating income for Q2 2025 was $29.8 million, a significant increase of 239 percent compared to the same period last year.
The company made an additional $50 million paydown of term debt and intends to retire all remaining term debt with proceeds from the sale of its European ORLADEYO business.
New patient prescriptions for ORLADEYO in Q2 2025 were the highest ever in a quarter, and U.S. patient discontinuations were lower in the first half of 2025 compared to 2024.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
BioCryst is maintaining its full-year 2025 global net ORLADEYO revenue outlook and expects to achieve net income and positive cash flows for the full year, even with the anticipated sale of its European business.
Positive Outlook
- Maintaining full-year 2025 global net ORLADEYO revenue guidance of $580 million to $600 million.
- Expects to deliver net income for the full year 2025.
- Anticipates positive cash flows for the full year 2025, excluding the impact of Pharmakon prepayments.
- Plans to retire all remaining term debt with proceeds from the sale of its European ORLADEYO business.
- Pipeline remains on track for initial data later this year in two clinical programs (BCX17725 and Avoralstat).
Challenges Ahead
- The full-year ORLADEYO revenue guidance factors in the expected removal of European ORLADEYO sales in the fourth quarter.
- Updated 2025 operating expense guidance will be provided on the Q3 2025 earnings call, after the expected closing of the European business sale.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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