BioCryst reported second-quarter earnings that significantly exceeded analyst expectations, driven by record-breaking sales of its hereditary angioedema treatment ORLADEYO.
The rare disease-focused drugmaker reported adjusted earnings of $0.15 per share for the quarter ended June 30, 2025, substantially beating the analyst estimate of $0.01. Revenue reached $163.4 million, well above the consensus estimate of $149.8 million and representing a 50% increase YoY.
ORLADEYO, the company’s oral treatment for hereditary angioedema, generated net revenue of $156.8 million, up 45% YoY. The drug achieved its highest-ever quarter for new patient prescriptions, exceeding the first quarter of its launch by over 10%.
"The financial performance this quarter is the best in the company’s history resulting from better-than-expected revenue growth and very meaningful operating profit," said Jon Stonehouse, CEO of BioCryst.
The company maintained its full-year 2025 ORLADEYO revenue guidance of $580-600 million, below the analyst consensus of $608.4 million, but noted this projection accounts for the expected sale of its European business in early October.
BioCryst reported operating income of $29.8 million for the quarter, compared to $8.8 million in the same period last year. The company’s cash position stood at $287.1 million as of June 30, 2025.
The company is advancing its rare disease pipeline, with a December 12, 2025 PDUFA date for ORLADEYO granules for children with HAE aged 2 to 11. BioCryst also expects initial data from two clinical programs by year-end: BCX17725 for Netherton syndrome and avoralstat for diabetic macular edema.
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