Astria Therapeutics 2025 Q3 Earnings Widening Losses Amid Acquisition Plans

Astria Therapeutics (ATXS) reported a 29% wider net loss year-over-year, missing revenue estimates by 95.59%, as the company continues to prioritize navenibart development and a pending BioCryst acquisition.

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Revenue**

Astria Therapeutics reported total revenue of $706,000 for Q3 2025, unchanged from $0 in Q3 2024, as the company remains focused on late-stage clinical programs rather than commercial sales.

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Earnings/Net Income**

The company’s net loss expanded to $31.64 million in Q3 2025, a 29% increase from $24.53 million in the prior year, with EPS deteriorating to -$0.55 from -$0.42. This reflects ongoing R&D costs for navenibart’s Phase 3 trials and administrative expenses tied to growth. The EPS outcome signals a worsening financial position.

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Price Action**

ATXS shares surged 48.17% month-to-date as of Nov 12, 2025, despite a 0.55% weekly decline and a 34.15% post-earnings drop following the Q3 results.

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Post-Earnings Price Action Review**

Astria Therapeutics has exhibited volatile price behavior over the past three years, with the November 2025 earnings release triggering a 34.15% stock price decline. While a strategy of buying shares on earnings dates and holding for 30 days yielded positive returns in 2024, it would have led to significant losses in 2025 due to the market’s negative reaction. The efficacy of such a strategy remains contingent on evolving market dynamics and investor sentiment toward the company’s financial health and strategic moves.

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CEO Commentary**

CEO Jill C. Milne emphasized the BioCryst acquisition as a pivotal step to advance navenibart for HAE, highlighting the $8.55 cash and 0.59 BioCryst shares per Astria share deal structure. She expressed confidence in the transaction’s value for shareholders and the continued development of navenibart’s Phase 3 trial.

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Guidance**

The company projects cash runway through 2028, covering navenibart’s ALPHA-ORBIT trial (top-line results in early 2027) and STAR-0310’s Phase 1a trial. The BioCryst acquisition is expected to close in Q1 2026, with Milne joining BioCryst’s board.

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Additional News**

1. M&A Activity: Astria Therapeutics agreed to be acquired by BioCryst Pharmaceuticals for $8.55 cash and 0.59 BioCryst shares per share, with the deal set to close in Q1 2026.

2. C-Level Transition: CEO Jill Milne will join BioCryst’s board post-merger, signaling a strategic alignment between the two firms.

3. Licensing Deal: The Kaken Pharmaceutical partnership secured an upfront $16 million and potential milestones for navenibart’s Japanese commercialization, with royalties up to 30% of net sales.

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Conclusion**

Astria Therapeutics’ Q3 performance underscores its reliance on R&D and strategic partnerships to drive long-term value, despite current financial challenges. The pending BioCryst acquisition and Kaken licensing deal could reshape its development trajectory, though near-term losses and market volatility remain key risks. Investors should monitor the Phase 3 trial milestones and merger timeline for potential catalysts.