BioCryst Pharmaceuticals Stock Is Tumbling: What's Going On?

BioCryst Pharmaceuticals Inc BCRX shares are trading lower Monday after the company announced preliminary fourth-quarter and full-year results for Orladeyo.

What Happened: BioCryst expects fourth-quarter Orladeyo net revenue of $70.7 million, representing an increase of 53% year-over-year. Full-year Orladeyo revenue is expected to total $251.6 million, representing an increase of 105% year-over-year.

"Revenue in the quarter lagged our expectations slightly as we saw fewer paid product shipments based on seasonal factors and lower conversion from free to paid product than expected. We see continued growth in 2023 in the U.S. and around the world as we advance toward $1 billion in peak Orladeyo sales," said Charlie Gayer, chief commercial officer of BioCryst.

BioCryst said it expects full-year 2023 global net Orladeyo revenue to be no less than $320 million. The company expects revenue in the first quarter to be similar to fourth-quarter revenue due to the seasonal impact of managed care reauthorizations.

What Else: BioCryst also announced that initial data from ongoing phase 1 trials in healthy volunteers showed rapid, sustained and greater than 97% suppression of the alternative pathway of the complement system 24 hours following a single 110 mg dose of BCX10013, which targets Factor D in the alternative pathway of complement.

BioCryst discovers novel, oral, small-molecule medicines that treat rare diseases in which significant unmet medical needs exist and an enzyme plays a key role in the biological pathway of the disease. Orladeyo is an oral therapy designed specifically to prevent attacks of hereditary angioedema.

See Also: What's Going On With Exact Sciences Stock?

BCRX Price Action: Biocryst has a 52-week high of $19.99 and a 52-week low of $7.61.

The stock was down 15.7% at $9.97 at time of publication, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.