Astria Therapeutics 2025 Q3 Earnings Widening Losses Amidst 29% Increase in Net Loss

Astria Therapeutics (ATXS) reported a disappointing Q3 2025 performance, missing revenue estimates and posting a deeper-than-expected loss. The stock surged 48% month-to-date despite the results, while analysts remain cautious. The company highlighted its pending acquisition by BioCryst Pharmaceuticals and ongoing clinical trials as strategic milestones.

Revenue

Total revenue for Q3 2025 remained flat at $706,000, unchanged from the prior year. The company failed to meet Zacks’ consensus revenue estimate by 95.59%, underscoring ongoing commercialization challenges.

Earnings/Net Income

Net losses widened to $31.6 million ($0.55 per share) in Q3 2025, a 29% increase from the $24.5 million ($0.42 per share) loss in Q3 2024. The EPS shortfall of 34.15% versus the Zacks estimate highlights deteriorating profitability. The EPS summary: The company’s earnings per share reflect a significant deterioration in profitability compared to the prior year.

Post-Earnings Price Action Review

Astria Therapeutics has exhibited volatile stock price behavior post-earnings over the past three years. While buying shares on quarterly report release dates occasionally yielded short-term gains—such as a 17.34% surge on November 13, 2024—these gains were often followed by sharp declines. For instance, the stock dropped 22.57% to $9.80 within 30 days of the November 2024 report and 29.78% to $8.55 after the March 2025 release. The recent Q3 2025 report, which included a $31.6 million net loss, triggered another 22.57% drop. This pattern underscores the unpredictability of post-earnings momentum in the biopharma sector. The pending BioCryst acquisition may further influence investor sentiment as the market digests the $8.55 cash-and-stock deal.

CEO Commentary

CEO Jill C. Milne emphasized the BioCryst acquisition as the “best opportunity to advance navenibart,” citing its potential in hereditary angioedema and atopic dermatitis. She highlighted the $16 million upfront payment from Kaken Pharmaceutical and the ALPHA-ORBIT trial’s 2027 timeline as strategic pillars. Milne expressed confidence in the acquisition’s Q1 2026 closure and the pipeline’s long-term value.

Guidance

The company reaffirmed its Q1 2026 acquisition timeline and expects top-line results from the navenibart Phase 3 ALPHA-ORBIT trial in early 2027. With $227.7 million in cash reserves and a projected 2028 cash runway, Astria aims to advance its programs pre-acquisition.

Additional News

1. M&A Activity: BioCryst’s $8.55 cash-and-stock acquisition of Astria, announced on October 14, 2025, is expected to close in Q1 2026. The deal includes 0.59 BioCryst shares per Astria share, aiming to accelerate navenibart development.

2. C-Level Commentary: CEO Milne reiterated optimism about navenibart’s dosing flexibility and STAR-0310’s long-acting AD potential during the earnings call.

3. Analyst Downgrade: Cantor Fitzgerald downgraded Astria to “Neutral” from “Overweight,” citing valuation concerns amid ongoing losses and biotech sector volatility.

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Data verification: EPS -0.55, Revenue $706K, Net Loss $31.6M (Q3 2025) per provided figures.