BioCryst Pharmaceuticals 2025 Q2 Earnings Record Net Income Surges 140%

BioCryst Pharmaceuticals reported second quarter 2025 earnings on August 6, 2025, surpassing expectations with a historic net income of $5.08 million and positive EPS of $0.02, a 133.3% improvement from the prior year period. The company maintained its full-year revenue guidance and highlighted the successful sale of its European business as a key factor in strengthening its financial position.

Revenue
Total revenue for Q2 2025 surged to $163.35 million, a 49.4% increase compared to $109.33 million in Q2 2024. This growth was primarily driven by robust performance in the Product Sales segment, which generated $162.43 million, a significant increase from the prior year. Collaborative and other revenues contributed an additional $923,000, bringing total revenue to $163.35 million. The revenue was fueled by record demand for ORLADEYO and efficient operations.

Earnings/Net Income
The company achieved a significant turnaround in profitability, with net income rising to $5.08 million in Q2 2025 from a net loss of $12.67 million in the same period in 2024. This represents a 140.1% positive swing and marks a record net income for a Q2 in over two decades. Earnings per share improved from -$0.06 in Q2 2024 to $0.02 in Q2 2025. The EPS growth is a strong indicator of improved operational efficiency and financial health.

Price Action
The stock of BioCryst Pharmaceuticals experienced mixed price movements in the latest trading period. While it declined by 3.02% during the latest trading day and 6.49% month-to-date, it also saw a 3.34% increase over the past week. Despite this volatility, post-earnings trading strategies showed strong performance.

Post Earnings Price Action Review
A post-earnings trading strategy of buying BCRX on the positive earnings surprise and holding for 30 days produced a 194.86% return, outperforming the 84.41% benchmark return. This resulted in an excess return of 110.45%, demonstrating the ability to capitalize on the earnings beat. The strategy also showed strong risk management with a maximum drawdown of 0.00% and a Sharpe ratio of 0.38, indicating robust performance during the backtest period.

CEO Commentary
Jon Stonehouse, CEO of BioCryst, highlighted the company’s best financial performance in its history, attributing this success to strong revenue growth and operating profit. He emphasized the continued success of ORLADEYO, with record new patient prescriptions and revenue, and noted that the sale of the European ORLADEYO business and reduced debt will further enhance the company’s financial position. Stonehouse expressed confidence in the company’s ability to meet full-year guidance despite the expected loss of European revenue.

Guidance
BioCryst maintained its full-year 2025 global net ORLADEYO revenue guidance of $580 million to $600 million, excluding the fourth-quarter European sales after the business sale. The company expects 2025 non-GAAP operating expenses to range between $440 million and $450 million, excluding stock-based compensation and deal-related costs. It also plans to provide updated operating expense guidance on its Q3 2025 earnings call post the European business sale. The company remains on track to deliver net income and positive cash flows for 2025, driven by ORLADEYO sales and reduced debt.

Additional News
On August 5, 2025, BioCryst announced that it had achieved record revenue of $156.8 million from ORLADEYO in Q2 2025, a 45% year-over-year increase. The company also reported operating profit of $29.8 million, a 239% increase from the prior year, and non-GAAP operating profit of $57.0 million, up 160% year-over-year. The company made an additional $50 million debt paydown and plans to retire all remaining term debt with proceeds from the sale of its European ORLADEYO business. These strategic moves, along with the anticipated sale, are expected to strengthen the company’s financial position and deliver greater value to shareholders.