---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-26-000213"
form_type: "8-K"
ticker: "BCRX"
cik: "0000882796"
company_name: "BIOCRYST PHARMACEUTICALS INC"
filed_at: "2026-01-12T23:59:59+00:00"
generated_at: "2026-05-16T11:00:10.639787+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# BioCryst beats FY2025 ORLADEYO rev guidance; FY2026 outlook $625-645M; Astria acquisition on track

## Summary
- Preliminary unaudited FY2025 ORLADEYO net revenue $601M (+37% YoY), exceeding $590-600M guidance range.
- Q4 2025 ORLADEYO net revenue $151M (+22% YoY; +36% comparable basis excl European revenue).
- Cash, cash equivalents, restricted cash & investments at Dec 31, 2025: $338M.
- FY2026 guidance: ORLADEYO rev $625-645M; total rev $635-660M; non-GAAP op ex $380-390M (excl Astria).
- Expected close of Astria Therapeutics acquisition in Q1 2026; adds $70-80M non-GAAP op ex for navenibart Phase 3 and manufacturing.

## SEC filing metadata
- accession: 0001171843-26-000213
- form_type: 8-K
- ticker: BCRX
- cik: 0000882796
- company_name: BIOCRYST PHARMACEUTICALS INC
- filed_at: 2026-01-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/882796/000117184326000213/0001171843-26-000213-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/882796/000117184326000213/f8k_011226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-26-000213
- JSON: https://secwatch.observer/filing/0001171843-26-000213.json
- Plain text: https://secwatch.observer/filing/0001171843-26-000213.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.