BIOCRYST PHARMACEUTICALS INC (BCRX) FY2025 10-K Annual Report

Filed: Feb 26, 2026
Health Care
Biological Products, (No Diagnostic Substances)SEC EDGAR

BIOCRYST PHARMACEUTICALS INC (BCRX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

BIOCRYST PHARMACEUTICALS INC FY2025 10-K Analysis

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

  • No revenue or YoY change figures provided in the MD&A section
  • No specific profitability or margin % data disclosed
  • No segment performance numbers or ranking included
  • 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

BIOCRYST PHARMACEUTICALS INC FY2025 Key Financial Metrics
XBRL

Revenue

$875M

+94.1% YoY

Net Income

$264M

+396.9% YoY

Operating Margin

39.0%

+3954bp YoY

Net Margin

30.2%

+4988bp YoY

ROE

-221.4%

-24012bp YoY

Total Assets

$514M

+4.8% YoY

EPS (Diluted)

$1.21

+381.4% YoY

Operating Cash Flow

$347M

+767.8% YoY

Source: XBRL data from BIOCRYST PHARMACEUTICALS INC FY2025 10-K filing on SEC EDGAR. All figures in USD.

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