BioCryst Q2: ORLADEYO Revenue Reaches $158M, Operating Profit Hits $98M, Guidance Lifted
BCRX sits 61% above its 52-week low of $6.
Summary
BioCryst posted Q2 2026 revenue of $218.3 million and a GAAP operating profit of $98.5 million, while raising its full-year total revenue guidance. Shipments of ORLADEYO pediatric pellets began, and the navenibart pivotal trial completed enrollment.
Key Events · Earnings and Guidance · BCRX
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Q2 Revenue and Profit Beat
Total revenue reached $218.3 million, with ORLADEYO contributing $158.2 million and a $55.7 million boost from navenibart European licensing. GAAP operating profit came in at $98.5 million, while the non-GAAP figure was $113.2 million.
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Full-Year Guidance Raised
Total revenue guidance was lifted to $690–$715 million, up from $635–$660 million, while the ORLADEYO outlook remained at $625–$645 million. Non-GAAP operating expense guidance was trimmed to $420–$440 million.
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ORLADEYO Pediatric Launch Begins
Shipments of ORLADEYO oral pellets to pediatric patients started on August 3. Year-to-date, 47 prescriptions have been written, with high prior authorization approval rates.
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Navenibart Pivotal Trial Fully Enrolled
Enrollment in the ALPHA-ORBIT study of navenibart for HAE was completed in June, with top-line results expected in Q3 2027.
Analysis · BCRX · Life Sciences
A standout second quarter saw ORLADEYO revenue climb to $158.2 million, helping drive a GAAP operating profit of $98.5 million—boosted by a $55.7 million licensing payment for European rights to navenibart. Full-year total revenue guidance was raised to $690–$715 million, while the ORLADEYO outlook held steady at $625–$645 million. The pediatric launch of ORLADEYO oral pellets commenced on August 3, and enrollment in the pivotal navenibart trial wrapped up in June. With $354 million in cash and positive free cash flow, the company is well-funded through key pipeline milestones. This quarter marks a turning point toward sustained profitability after the large non-cash charge from the Astria acquisition in Q1.
At the time of this filing, BCRX was trading at $9.65 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $6.00 to $11.22. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.