Short answer
BIOCRYST PHARMACEUTICALS INC (BCRX) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $875M (+94.1% year over year) and net income of $264M.
- Top risk flagged: FDA approval of ORLADEYO oral pellet for pediatric HAE patients aged 2 to <12 years in December 2025
FY2025 key financial metrics · XBRL
- Revenue
- $875M
- +94.1% YoY
- Net income
- $264M
- +396.9% YoY
- Operating margin
- 39.0%
- +39.5 pp YoY
- EPS (diluted)
- $1.21
- +381.4% YoY
- ROE
- -221.4%
- −240.1 pp YoY
- Operating cash flow
- $347M
- +767.8% YoY
Source: XBRL data from the BIOCRYST PHARMACEUTICALS INC (BCRX) FY2025 10-K on SEC EDGAR. USD.
BIOCRYST PHARMACEUTICALS INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Biopharmaceutical company focused on development and commercialization of pharmaceutical products, including rare disease treatments like ORLADEYO
- Strategic shift: Sale of European ORLADEYO business with a Global Brand and Support Agreement limiting sole control over European brand positioning
- Quantitative metric: 52-week stock price range $6.00 to $11.31 per share for fiscal year 2025
- Noteworthy risk factor: Increased reliance on AI and cybersecurity amid expanded employee base and remote work, introducing new regulatory and operational risks
Management Discussion & Analysis
- Merger-related expenses expected to be substantial but no $ amounts given
- Key risks: economic instability affecting counterparties, Merger integration challenges, clinical trial uncertainties, regulatory approval delays, and rare disease market complexities impacting future results and capital needs
Risk Factors
- FDA approval of ORLADEYO oral pellet for pediatric HAE patients aged 2 to <12 years in December 2025
- Revenues from European ORLADEYO business divested in October 2025 for $254.5M cash proceeds
- Operational dependency risk from divestiture of BioCryst Ireland holding European ORLADEYO assets and employees
- Competitive risk from ongoing clinical development of Navenibart showing sustained HAE attack suppression in long-term trial
- Potential revenue milestone up to $14.0M from Neopharmed Gentili contingent on European sales before December 2032
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