BIOCRYST PHARMACEUTICALS INC

Listed Company

BCRXCIK 0000882796NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$263.86M

Total Assets

$514.16M

Equity

$-119.15M

Shares Out

250.80M

Op. Cash Flow

$347.37M

Business

BIOCRYST PHARMACEUTICALS INC is a global biotechnology company that discovers, develops and commercializes therapies for hereditary angioedema (HAE) and other rare diseases using structure-guided drug design. It offers oral small‑molecule kallikrein inhibitors (including ORLADEYO and pediatric formulations), injectable protein therapeutics (e.g., BCX17725), investigational ocular and complement pathway candidates (avoralstat, oral C5/C2 inhibitors, bifunctional antibodies) and the marketed intravenous antiviral peramivir. Its operations comprise discovery, clinical development, regulatory affairs and global commercialization supported by collaborations and licensing arrangements. Products are distributed through specialty pharmacies, commercial teams and partner licensees across the United States and multiple international markets, and through government procurement programs.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	875	451	331	271	157
Cost of product sales	19	12	4	6	7
Research and development	166	175	217	253	209
Selling, general and administrative	349	266	214	159	119
Total operating expenses	534	453	435	419	335
Income (loss) from operations	341	−3	−104	−148	−178
Interest income	11	15	16	5	—
Interest expense	−79	−99	−108	−99	—
Foreign currency losses, net	−152,000	−641,000	−1	−2	−695,000
Loss on extinguishment of debt	−17	0	−29	0	56
Other income	12	0	0	—	—
Total other expense, net	−74	−84	−123	−96	—
Income (loss) before income taxes	267	−87	−226	−244	−182
Income tax expense	4	2	310,000	3	2
Net income (loss)	264	−89	−227	−247	−184
Foreign currency translation adjustment	−674,000	−776,000	180,000	890,000	189,000
Unrealized (loss) gain on available for sale investments	−209,000	360,000	1	−1	—
Total other comprehensive (loss) income	−883,000	−416,000	1	—	—
Net comprehensive income (loss)	263	−89	−225	−247	−184
Net income (loss) per common share: basic (in usd per share)	1.26	−0.43	−1.18	−1.33	−1.03
Weighted average shares of common stock outstanding: basic (in shares)	210	207	192	186	179
Net income (loss) per common share: diluted (in usd per share)	1.21	−0.43	−1.18	−1.33	−1.03
Weighted average shares of common stock outstanding: diluted (in shares)	219	207	192	186	179

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	90	105	111	305	504
Restricted cash	201,000	210,000	2	1	3
Short-term investments	185	216	—	—	—
Trade receivables	107	79	57	51	29
Inventory, net	5	8	29	28	16
Prepaid expenses and other current assets	17	14	20	13	10
Total current assets	404	422	496	517	566
Long-term inventory, net	24	23	0	—	—
Property and equipment, net	9	8	8	9	9
Long-term investments	61	20	0	18	7
Right of use assets	10	12	13	—	—
Other assets	6	5	80,000	7	6
Total assets	514	490	517	550	588
Accounts payable	16	12	21	14	28
Accrued expenses	126	113	103	88	73
Share-based liability	14	0	—	—	—
Operating lease liabilities	317,000	937,000	1	2	2
Finance lease liabilities	1	2	2	853,000	—
Royalty financing obligations	38	33	24	—	—
Total current liabilities	196	160	150	106	104
Operating lease liabilities	9	8	8	4	6
Finance lease liabilities	1	2	3	2	—
Royalty financing obligations	427	481	508	—	—
Secured term loan	0	315	303	232	136
Total liabilities	633	966	972	—	—
Preferred stock, $0.01 par value; shares authorized - 5,000; no shares issued and outstanding at December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.01 par value; shares authorized - 450,000; shares issued and outstanding 213,060 and 208,543 at December 31, 2025 and 2024, respectively	2	2	2	2	2
Additional paid-in capital	1,385	1,291	1,222	1,158	1,098
Accumulated other comprehensive income	38,000	921,000	1	26,000	177,000
Accumulated deficit	−1,506	−1,770	−1,681	−1,455	−1,208
Total stockholders deficit	−119	−476	−456	−295	−107
Total liabilities and stockholders deficit	514	490	517	550	588

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	1	2	1	777,000
Inventory obsolescence	985,000	1	422,000	932,000	0
Stock-based compensation expense	85	65	56	45	35
Equity modification associated with sale of BioCryst Ireland	18	0	0	—	—
Mark-to-market adjustment on share-based liability	−4	0	0	—	—
Payment of Pharmakon PIK Interest	−24	0	0	—	—
Non-cash interest expense on royalty financing obligations	53	56	70	—	—
Non-cash interest expense on secured term loan and amortization of debt issuance costs	1	12	15	99	—
Amortization of discount on investments, net	−4	−11	−10	−2	−2,000
Loss on impairment	0	0	2	0	0
Gain on sale of non-financial asset	−550,000	0	0	—	—
Gain on sale of BioCryst Ireland	−4	0	0	—	—
Increase in receivables	−37	−23	−6	−21	−21
Increase in inventory	−2	−4	−1	−12	−9
(Increase) decrease in prepaid expenses and other assets	−8	2	−7	−3	−7
Decrease in royalty financing obligations	−68	−77	−29	—	—
Increase in accounts payable and accrued expenses	58	15	13	−22	39
Decrease in deferred revenue	0	0	−1	−109,000	1
Net cash provided by (used in) operating activities	347	−52	−95	−162	−142
Acquisitions of property and equipment	−2	−1	−2	−1	−2
Purchases of investments	−262	−267	−514	−244	−10
Sales and maturities of investments	257	320	385	117	28
Sale of non-financial asset	550,000	0	0	—	—
Proceeds from sale of BioCryst Ireland, net of cash divested	−6	0	0	—	—
Net cash (used in) provided by investing activities	−14	53	−131	−128	16
Net proceeds from common stock issued under stock-based compensation plans	9	3	8	15	16
Withholding taxes paid on stock-based awards	−9	−8	−2	0	0
Common stock issued to directors in lieu of cash retainer	59,000	34,000	342,000	190,000	60,000
Net proceeds from term loans	0	0	300	73	0
Repayment of principal on term loans	−300	0	−240	—	—
Prepayment premium and fees on term loans	−10	0	−21	—	—
Payment of debt issuance costs on Pharmakon Tranche A term loan	0	0	−11	0	0
Principal payments on royalty financing obligations	−23	0	0	—	—
Payment of royalty release fees	−16	0	0	—	—
Principal payments on finance lease liabilities	−2	−2	−1	0	0
Net cash (used in) provided by financing activities	−350	−6	32	88	360
Effect of exchange rates on cash, cash equivalents and restricted cash	1	−936,000	362,000	566,000	71,000
Decrease in cash, cash equivalents and restricted cash	−15	−6	−194	−201	233
Cash paid for interest	24	30	22	0	900,000
Taxes withheld on stock-based awards included in accrued expenses	132,000	758,000	4	2	984,000
Capitalized software costs included in accrued expenses	608,000	0	0	—	—

Filings

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