NASDAQ$BCRX

BioCryst Pharmaceuticals Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

BioCryst reported Q4 2022 financial results, highlighted by ORLADEYO net revenue of $70.7 million, and provided a corporate update.

BioCryst Pharmaceuticals reported a strong Q4 2022, with total revenues of $79.5 million, driven by ORLADEYO net revenue of $70.7 million. The company's net loss was $71.5 million, or $0.38 per share. They anticipate ORLADEYO net revenue to be no less than $320 million in 2023.

  • Total revenues were $79.5 million, compared to $47.2 million in Q4 2021.
  • ORLADEYO net revenue was $70.7 million.
  • Net loss was $71.5 million, or $0.38 per share.
  • Operating cash use for the quarter was $18.8 million.

Headline financials

Total Revenue

$79.5M

Previous: $47.2M+68.7%
EPS (adj)

-$0.38

Previous: -$0.40+5.0%
R&D Expenses

$73.2M

Previous: $63.5M+15.3%
SG&A Expenses

$50.2M

Previous: $35.4M+41.8%
Interest Expense

$26.5M

Previous: $18.8M+41.0%
Net Income

-$71.5M

Previous: -$17.8M-301.7%
Operating Income

-$43.9M

Previous: -$52M+15.6%
Gross Profit

$77M

Previous: $46.7M+64.8%
Cash & Equivalents

$444M

Previous: $518M-14.3%
Total Assets

$550M

Previous: $588M-6.5%
Stock-Based Comp

$15.3M

Previous: $8.5M+79.8%

Revenue & EPS history

BioCryst · Revenue · Quarterly

$79.5M

Q4 2022+68.7%vs Q4 2021
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Forward guidance

The company expects full year 2023 global net ORLADEYO revenue to be no less than $320 million. Operating expenses for full year 2023, not including non-cash stock compensation, are expected to be flat to 2022 at approximately $375 million.

Tailwinds

  • Full year 2023 global net ORLADEYO revenue to be no less than $320 million
  • Operating expenses for full year 2023 are expected to be flat to 2022
  • Reductions in R&D spending in 2023 following the discontinuation of the BCX9930 and BCX9250 programs in 2022
  • The delay in the 10013 clinical program
  • Increases in SG&A to support the U.S. launch and global expansion of ORLADEYO

Headwinds

  • Seasonal impact of managed care reauthorizations in the first quarter of the year
  • ORLADEYO net revenue in the first quarter of 2023 to be similar to, or slightly less than, ORLADEYO net revenue in the fourth quarter of 2022
  • COVID-19 pandemic could create challenges in all aspects of BioCryst’s business
  • BioCryst’s ability to successfully implement its commercialization plans for ORLADEYO
  • The results of BioCryst’s partnerships with third parties may not meet BioCryst’s current expectations

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-0.3%

Avg return

Earnings day

+3.1%

Avg return

5 days after

+5.6%

Avg return

30 days after

41%

26 / 64 earnings

Positive

+26.0%

Q2 2022

Best reaction

-38.0%

Q3 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.2%-5.0%-7.0%
Q4 2025+4.8%+15.1%+23.6%
Q3 2025-5.4%-3.1%+7.2%
Q1 2025+23.7%+11.6%+23.6%
Q4 2024-10.0%-6.5%-15.3%
Q3 2024-16.3%-7.7%-13.0%
Q2 2024+12.1%+8.7%+17.9%
Q1 2024+18.2%+19.6%+52.6%
Q4 2023+2.8%-1.6%-9.8%
Q3 2023+5.4%+5.9%+7.3%
Q2 2023+9.4%+1.0%+4.7%
Q1 2023+14.9%+15.2%+13.3%
Q4 2022-4.2%-10.8%-20.4%
Q3 2022-10.0%-6.8%-2.9%
Q2 2022+26.0%+29.6%+26.2%
Q1 2022-10.7%-15.5%+2.7%
Q4 2021-6.0%-6.4%-9.9%
Q3 2021-23.3%-19.3%-24.4%
Q2 2021+8.3%-6.5%-3.7%
Q1 2021+22.8%+13.7%+52.5%
Q4 2020-8.7%-0.6%-12.4%
Q3 2020-4.4%-4.4%+42.9%
Q2 2020-5.7%-5.9%-13.1%
Q1 2020-0.8%+40.3%+5.6%
Q4 2019+17.1%-19.9%-44.4%
Q3 2019+1.5%-5.9%+31.5%
Q2 2019-2.1%-0.4%+10.6%
Q1 2019+1.7%-1.0%-54.0%
Q4 2018-3.0%-7.5%+0.2%
Q3 2018+0.8%-2.9%+12.9%
Q2 2018+9.2%+24.8%+31.1%
Q1 2018-4.1%-1.1%+10.4%
Q4 2017-1.6%-0.4%-5.5%
Q3 2017-3.1%-0.6%-5.8%
Q2 2017-12.0%-11.2%-2.7%
Q1 2017-12.4%-13.4%-14.7%
Q4 2016+13.7%+39.9%+54.6%
Q3 2016+19.4%+36.6%+40.9%
Q2 2016+2.7%+22.8%+4.2%
Q1 2016-5.3%
Q4 2015-12.0%
Q3 2015-7.6%
Q2 2015-14.1%
Q1 2015+9.2%
Q4 2014-0.1%
Q3 2014+8.1%
Q2 2014-1.4%
Q1 2014+4.6%
Q4 2013-6.0%
Q3 2013+13.2%
Q2 2013-9.1%
Q1 2013-2.7%
Q4 2012-1.6%
Q3 2012-38.0%
Q2 2012-1.2%
Q1 2012-0.5%
Q4 2011+0.2%
Q3 2011-2.0%
Q2 2011-18.0%
Q1 2011+3.0%
Q4 2010-2.6%
Q3 2010-3.2%
Q2 2010-5.1%
Q1 2010+2.1%

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