BioCryst reports third quarter 2023 financial results and provides business update
BioCryst Pharmaceuticals today reported financial results for the third quarter ended September 30, 2023, and provided a corporate update.
Jon Stonehouse, President and Chief Executive Officer of BioCryst, said: “With nearly three years of launch data, we have excellent visibility into the pattern of growth for Orladeyo and we remain on track to achieve the no less than $320 million in Orladeyo revenues we have expected for 2023. Our solid base and the consistent addition of new patients each quarter, combined with the ongoing improvement in our percentage of paid patients and launches in new global markets, are all driving peak revenues to $1 billion.”
Program Updates
The company reported the following regarding Orladeyo (berotralstat):
- Orladeyo net revenue in the third quarter of 2023 was $85.7 million (+29.8 percent year-over-year (y-o-y)
- Total growth in patients taking Orladeyo continued on a strong, linear trajectory
- The ongoing APeX-P trial in pediatric HAE patients who are 2 to <12 years of age continues to enroll as expected
- Sales from outside the U.S. contributed 12.2 percent of global ORLADEYO net revenues in the third quarter
- Austria has approved the reimbursement of ORLADEYO for the targeted prophylaxis of hereditary angioedema (HAE) in patients 12 years of age or older
Third Quarter 2023 Financial Results
For the three months ended September 30, 2023, BioCryst total revenues were $86.7 million, compared to $75.8 million in the third quarter of 2022 (+14.4 percent y-o-y). The increase was primarily due to an increase in ORLADEYO net revenue of $19.7 million, compared to the third quarter of 2022.
(Source: BioCryst)
