BIOCRYST PHARMACEUTICALS INC
BCRX evidence brief
What we can confirm
- BioSniper Score:
- 4.9 / 10
- Market Cap:
- $2.25B
- Lead Asset:
- ORLADEYO (berotralstat) (Approved)
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 (BCRX) is a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema (HAE), with an approved oral drug ORLADEYO and a late-stage HAE candidate navenibart.
Key risk: Negative equity
BioSniper Score
Based on 5 of 6 signals
Market Cap
$2.25B
Cash Runway
—
Lead Asset
ORLADEYO (berotralstat) (Approved)Next Catalyst
Patent_Expiry · May 7, 2027Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 2 catalysts · 3 FDA decisions for BIOCRYST PHARMACEUTICALS INC.
BioCryst Pharmaceuticals (BCRX) is a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema (HAE), with an approved oral drug ORLADEYO and a late-stage HAE candidate navenibart.
- Cash & equivalents of $155.0M as of 2026-06-30 [sec].
- Total revenue of $218.2M and net income of $78.4M for the six months ended June 30, 2026 [sec].
- Shareholders' equity of -$454.3M as of 2026-06-30 [sec].
- ORLADEYO (berotralstat) is an approved oral serine protease inhibitor for hereditary angioedema [pipeline].
- The company is advancing navenibart (Phase 3) for HAE and BCX17725 (Phase 1) for Netherton syndrome [sec_mda · as of 2026-08-05].
What works
- ORLADEYO revenue grew to $158.2M in Q2 2026 from $143.5M in Q2 2025, indicating commercial traction [sec_mda · as of 2026-08-05].
- The company has a late-stage pipeline with navenibart in Phase 3 for HAE, supported by positive Phase 2 data [sec_mda · as of 2026-08-05].
- BioCryst maintains a conservative investment policy with no significant losses on investments [sec_mda · as of 2026-08-05].
What to weigh
- Shareholders' equity is deeply negative at -$454.3M as of 2026-06-30 [sec].
- The company is closing its Birmingham Discovery Center, discontinuing internal discovery programs [sec_mda · as of 2026-08-05].
- ORLADEYO faces competition from at least five other HAE programs in Phase 3 [pipeline].
- Future revenue from ORLADEYO is subject to uncertainties including patient retention, prescribing rates, and payer coverage [sec_mda · as of 2026-08-05].
From the filings
Quoted directly from source documents.
Birmingham closure plan
“On June 25, 2026, our Board of Directors approved a plan to discontinue our internal discovery programs and close the Discovery Center of Excellence facility in Birmingham, Alabama”
SEC MD&A · August 5, 2026
Navenibart Phase 2 data
“avenibart demonstrated that investigational navenibart consistently reduced HAE attack rates across patient subgroups, supporting the ongoing Phase 3 evaluation”
SEC MD&A · August 5, 2026
Catalyst timeline
- 2027-05-07 · Patent_Expiry · PERAMIVIR — Expiration of NDA206426 for peramivir; may affect related revenue streams.
- 2039-11-01 · Patent_Expiry · BEROTRALSTAT DIHYDROCHLORIDE — Expiration of NDA214094 for berotralstat (ORLADEYO); long-term exclusivity milestone.
Risks & what to watch (3)›
Key risks
- Negative equity — Shareholders' equity of -$454.3M as of 2026-06-30 indicates accumulated deficits exceed assets [sec].
- Competitive HAE market — ORLADEYO faces at least five Phase 3 competitors including KalVista, CSL Behring, and Ionis [pipeline].
- R&D restructuring — Closing Birmingham Discovery Center may reduce future pipeline candidates from internal discovery [sec_mda · as of 2026-08-05].
What to watch
- ORLADEYO revenue trajectory and market share amid Phase 3 competition [sec_mda · as of 2026-08-05].
- Phase 3 data for navenibart and its potential to become a long-acting HAE option [sec_mda · as of 2026-08-05].
- Progress of BCX17725 Phase 1 Part 4 dosing for Netherton syndrome [sec_mda · as of 2026-08-05].
- Execution of the Birmingham Closure Plan and its impact on operating expenses [sec_mda · as of 2026-08-05].
Sources: Catalysts · News · Pipeline · SEC filings · SEC MD&A · Generated October 10, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Cash runway data unavailable
Net income $78M
Lead: Approved
1 candidate
2 upcoming, next in ~204d
0 buys · 2 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
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 (BCRX) is a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema (HAE), with an approved oral drug ORLADEYO and a late-stage HAE candidate navenibart.
What is BIOCRYST PHARMACEUTICALS INC's lead drug candidate?
BIOCRYST PHARMACEUTICALS INC's most advanced tracked candidate is ORLADEYO (berotralstat) (Approved) for Hereditary Angioedema.
What is BIOCRYST PHARMACEUTICALS INC's next catalyst?
BIOCRYST PHARMACEUTICALS INC's next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA206426" — expected May 7, 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.