Investors clearly weren't in a forgiving mood on Monday when it came to BioCryst Pharmaceuticals (BCRX 0.19%) stock. After the commercial-stage biotech published its fourth-quarter and full-year 2024 results, they traded its shares down by an even 10% on the day. That fall was far steeper than the 0.5% slip of the benchmark S&P 500 (^GSPC -0.47%).
A mixed final quarter of 2024
For the quarter, BioCryst managed to increase its revenue by 41% to $131.5 million. The company also narrowed its generally accepted accounting principles (GAAP) net loss; this came in at $26.8 million ($0.13 per share) against the $61.7 million deficit it posted in the same quarter the previous year.
The biotech beat the consensus analyst estimate for revenue, which was slightly over $127 million. However, it missed quite widely for net loss, as those pundits were collectively anticipating only a $0.07 per share shortfall.
As in previous quarters, BioCryst's results were driven largely by its one commercialized product: hereditary angioedema treatment, Orladeyo. The drug saw a 37% improvement in sales to slightly over $124 million. BioCryst said in its earnings release that it's aiming to submit a New Drug Application to the Food and Drug Administration (FDA) to get the medicine approved for children aged 2 to 11.
Guidance raised, thanks to Orladeyo
Management also raised guidance for both Orladeyo sales and overall revenue for all of 2025. For the former, it now believes the drug will bring in $535 million to $550 million; before, it was modeling $515 million to $535 million. This will, of course, boost overall revenue, which is now expected to come in at $560 million to $575 million (old projection: $540 million to $560 million).
BioCryst is something of a one-trick pony at the moment, but that's not unusual for relatively young biotechs. I think it's doing well with Orladeyo, and it has other drugs in its pipeline, so I'd probably be more bullish on its prospects than investors were on Monday.
