BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) saw its shares plummet over 6% in pre-market trading on November 4, 2024, after the company reported mixed third-quarter financial results. While BioCryst achieved record revenue, driven by strong sales of its flagship product ORLADEYO, the company's earnings missed analysts' expectations, prompting the sell-off.
For the third quarter ended September 30, 2024, BioCryst reported a GAAP net loss of $14.0 million, or $0.07 per share, falling short of analysts' consensus estimate of a $0.06 loss per share. This marked a significant improvement from the $36.1 million loss, or $0.19 per share, recorded in the same period last year.
Despite the earnings miss, BioCryst's revenue surged 35.1% year-over-year to $117.1 million, exceeding analysts' expectations. The company's ORLADEYO net revenue, which accounts for the majority of its sales, grew an impressive 35.7% to $116.3 million, driven by strong patient demand and continued market penetration.
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