Shares of BioCryst Pharmaceuticals (NASDAQ:BCRX) were 8.1% higher as of 12:18 p.m. EDT on Monday after rising as much as 10.5% earlier in the day. The gain reflects continued momentum following BioCryst's announcement last week of U.K. approval of Orladeyo in preventing recurrent hereditary angioedema (HAE) attacks.
Today's nice gain for the biotech stock probably has less to do with the U.K. approval itself. It's likely more reflective of investors' overall optimism about Orladeyo's prospects.
BioCryst reported U.S. sales of $10.9 million for the HAE drug in the first quarter of 2021. That's a really good start for Orladeyo's first full quarter after its U.S. launch.
Look for Orladeyo sales outside the U.S. to become increasingly important, and not just because of the U.K. approval. The company won European Commission approval for the drug in late April. It plans to launch Orladeyo in Germany first, followed by launches in other European markets. BioCryst's partner Torii began selling the HAE drug in Japan in April as well.