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Dec 31, 2022
BioCryst Q4 2022 Earnings Report
BioCryst reported Q4 2022 financial results, highlighted by ORLADEYO net revenue of $70.7 million, and provided a corporate update.
Key Takeaways
BioCryst Pharmaceuticals reported a strong Q4 2022, with total revenues of $79.5 million, driven by ORLADEYO net revenue of $70.7 million. The company's net loss was $71.5 million, or $0.38 per share. They anticipate ORLADEYO net revenue to be no less than $320 million in 2023.
Total revenues were $79.5 million, compared to $47.2 million in Q4 2021.
ORLADEYO net revenue was $70.7 million.
Net loss was $71.5 million, or $0.38 per share.
Operating cash use for the quarter was $18.8 million.
Forward Guidance
The company expects full year 2023 global net ORLADEYO revenue to be no less than $320 million. Operating expenses for full year 2023, not including non-cash stock compensation, are expected to be flat to 2022 at approximately $375 million.
Positive Outlook
- Full year 2023 global net ORLADEYO revenue to be no less than $320 million
- Operating expenses for full year 2023 are expected to be flat to 2022
- Reductions in R&D spending in 2023 following the discontinuation of the BCX9930 and BCX9250 programs in 2022
- The delay in the 10013 clinical program
- Increases in SG&A to support the U.S. launch and global expansion of ORLADEYO
Challenges Ahead
- Seasonal impact of managed care reauthorizations in the first quarter of the year
- ORLADEYO net revenue in the first quarter of 2023 to be similar to, or slightly less than, ORLADEYO net revenue in the fourth quarter of 2022
- COVID-19 pandemic could create challenges in all aspects of BioCryst’s business
Historical Earnings Impact
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