BIOCRYST PHARMACEUTICALS INC
BCRX evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for BCRX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · BCRX
BioCryst Pharmaceuticals is a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema (HAE), with a lead product ORLADEYO (berotralstat) and a pipeline of early-stage candidates.
Key risk: Negative shareholders' equity
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 7 pipeline candidates · 8 clinical trials · 3 catalysts · 3 FDA decisions for BIOCRYST PHARMACEUTICALS INC.
BioCryst Pharmaceuticals is a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema (HAE), with a lead product ORLADEYO (berotralstat) and a pipeline of early-stage candidates.
- Cash & equivalents of $156.4M as of 2026-06-30 [sec].
- Total revenue of $218.2M and net income of $78.4M for the six months ended 2026-06-30 [sec].
- Shareholders' equity of -$421.6M as of 2026-06-30, reflecting accumulated deficits [sec].
- Total debt of $0.8M as of 2026-06-30 [sec].
- Lead product ORLADEYO (berotralstat) is approved for HAE prophylaxis; pipeline includes navenibart, BCX17725, avoralstat, and STAR-0310 [sec_mda · as of 2026-02-26].
What works
- Profitable with $218.2M revenue and $78.4M net income in the first half of 2026, indicating commercial traction [sec].
- Low debt of $0.8M provides financial flexibility [sec].
- Focused on a defined therapeutic area (HAE) with a clear regulatory pathway [sec_mda · as of 2026-02-26].
- Cash runway of at least 12 months per management assessment [sec_mda · as of 2026-08-05].
What to weigh
- Negative shareholders' equity of -$421.6M signals historical losses and accumulated deficit [sec].
- Reliance on ORLADEYO for revenue; pipeline candidates are early-stage and unproven [sec_mda · as of 2026-02-26].
- Operating expenses and cash utilization are difficult to predict and could increase significantly [sec_mda · as of 2026-08-05].
- Stock price has been highly volatile, which could affect investor confidence [sec_mda · as of 2026-02-26].
From the filings
Quoted directly from source documents.
BioCryst is a global biotechnology company focused on HAE.
“We are a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema ("HAE")”
SEC MD&A · August 5, 2026
ORLADEYO is a key product.
“ORLADEYO® (berotralstat)”
SEC MD&A · February 26, 2026
Cash runway is at least 12 months.
“financial resources will be sufficient to fund our operations for at least the next 12 months.”
SEC MD&A · August 5, 2026
Stock price volatility is a risk.
“Our stock price has been, and is likely to continue to be, highly volatile”
SEC MD&A · February 26, 2026
Catalyst timeline
- 2027-02-01 · Phase3_Topline — Phase 3 Topline: A Phase 3 Study to Evaluate the Safety and Pharmacokinetics of Berotralstat Prophylaxis in Children — Topline data from a pediatric study of berotralstat for HAE prophylaxis; positive results could expand the label.
- 2031-08-01 · Phase3_Topline — Phase 3 Topline: An Open-label Study to Provide Berotralstat Access to Subjects With Type 1 and 2 Hereditary Angioede — Long-term open-label study providing continued access to berotralstat; data may support long-term safety and efficacy.
- 2039-11-01 · Patent_Expiry · ORLADEYO — Patent/Exclusivity Expiry: ORLADEYO — Patent expiry for ORLADEYO could allow generic competition, impacting revenue.
Risks & what to watch (4)›
Key risks
- Negative shareholders' equity — Shareholders' equity of -$421.6M as of 2026-06-30 indicates accumulated deficits and financial strain [sec].
- Dependence on ORLADEYO — Revenue is heavily reliant on ORLADEYO; pipeline candidates are early-stage and may not succeed [sec_mda · as of 2026-02-26].
- Unpredictable expenses — Operating expenses and cash utilization could vary significantly due to clinical trial progress and commercialization costs [sec_mda · as of 2026-08-05].
- Stock price volatility — Stock price has been and is likely to continue to be highly volatile, which could affect investor confidence [sec_mda · as of 2026-02-26].
What to watch
- Phase 3 topline data for berotralstat prophylaxis in children expected around 2027-02-01 [catalyst].
- Patent expiry for ORLADEYO in 2039-11-01, which could affect long-term revenue exclusivity [catalyst].
- Progress of pipeline candidates navenibart, BCX17725, avoralstat, and STAR-0310 through clinical development [sec_mda · as of 2026-02-26].
- Ability to maintain profitability and manage negative equity position [sec].
Sources: SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
OCF $104M · Net income $78M
Lead: Approved
7 candidates
3 upcoming, next in ~155d
0 buys · 4 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
299
Total value held
$2.44B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 22,650,988 | $215.6M |
| vanguard capital management llc | 22,271,524 | $212.0M |
| janus henderson group plc | 17,817,012 | $169.7M |
| ra capital management, l.p. | 15,827,186 | $150.7M |
| deerfield management company, l.p. | 15,038,000 | $143.2M |
| perceptive advisors llc | 14,868,066 | $141.5M |
| state street corp | 12,208,360 | $116.2M |
| vanguard portfolio management llc | 11,244,625 | $107.0M |
| two sigma investments, lp | 6,392,628 | $60.9M |
| geode capital management, llc | 5,782,776 | $55.1M |
Showing top 10 of 299 institutional holders of BIOCRYST PHARMACEUTICALS INC. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 14.8%
- Days to cover
- 9.1
- Shares short
- 37,416,739
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
BCRX short interestGovernance
Frequently asked questions
What is the AI investment thesis for BIOCRYST PHARMACEUTICALS INC?
BioCryst Pharmaceuticals is a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema (HAE), with a lead product ORLADEYO (berotralstat) and a pipeline of early-stage candidates.
What is BIOCRYST PHARMACEUTICALS INC's lead drug candidate?
BIOCRYST PHARMACEUTICALS INC's most advanced tracked candidate is Avoralstat (Phase 1) for Diabetic Macular Edema (DME).
What is BIOCRYST PHARMACEUTICALS INC's next catalyst?
BIOCRYST PHARMACEUTICALS INC's next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Phase 3 Study to Evaluate the Safety and Pharmacokinetics of Berotralstat Prophylaxis in Children " — expected February 1, 2027.
Who is the CEO of BIOCRYST PHARMACEUTICALS INC?
Mr. Charles K. Gayer is the chief executive officer of BIOCRYST PHARMACEUTICALS INC (BCRX).
Where is BIOCRYST PHARMACEUTICALS INC headquartered?
BIOCRYST PHARMACEUTICALS INC (BCRX) is headquartered in Durham, NC, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.