BioCryst announces preliminary full year 2023 Orladeyo (berotralstat) net revenue of $325 million, provides 2024 guidance and accelerated path to profitability
Biocryst Pharmaceuticals Inc announced preliminary, unaudited Orladeyo (berotralstat) net revenue for the fourth quarter and full year 2023. The company also provided guidance for full year 2024 Orladeyo net revenue, full year 2024 operating expenses, expected peak Orladeyo sales and an accelerated path to profitability.
Jon Stonehouse, President and Chief Executive Officer of BioCryst, said: “After three years on the market, Orladeyo continues on a steady growth trajectory to achieve $1 billion at peak. This commercial success, alongside our proven discovery platform that is producing additional first-in-class or best-in-class molecules, uniquely positions BioCryst to achieve financial independence from the capital markets and accelerate our path to profitability.”
Preliminary fourth quarter and full year 2023 Orladeyo revenue and 2024 outlook
Preliminary, unaudited Orladeyo net revenue in the fourth quarter of 2023 was $89.9 million (+27 percent y-o-y). Preliminary, unaudited Orladeyo net revenue for full year 2023 was $325 million (+29 percent y-o-y).
The company expects full year 2024 global net Orladeyo revenue to be between $380 million and $400 million. The general pattern of revenue throughout 2024 is expected to be similar to past years, with the seasonal impact of prescription reauthorizations and the potential impact of the Inflation Reduction Act in the first quarter driving a quarter-over-quarter revenue decline in the first quarter, followed by a strong return to growth in the second quarter.
Charlie Gayer, Chief Commercial Officer of BioCryst, said: “Orladeyo growth remained strong in the fourth quarter of 2023 as hereditary angioedema patients gain the excellent attack control they expect. Comparing US patient trends year over year (y-o-y), we had more new patient prescriptions and a lower average rate of monthly discontinuations in 2023 compared to 2022. U.S. performance combined with continued global expansion keep Orladeyo on track for $1 billion in peak sales.”
(Source: BioCryst)
