DURHAM – BioCryst Pharmaceuticals (BCRX) on Thursday reported a loss of $58.9 million in its second quarter but also noted good news with sales increasing for its new drug.
“With ORLADEYO firmly established in the marketplace as it steadily grows each quarter towards $1 billion in peak sales, our pipeline of other oral drugs for rare diseases and a balance sheet of nearly $500 million alongside our product revenues, BioCryst is uniquely positioned to bring multiple oral medicines for rare diseases to patients,” said Jon Stonehouse, chief executive officer of BioCryst, in the earnings announcement.
The company’s ORLADEYO® (berotralstat) is a treatment for hereditary angioedema, or HAE, a rare genetic condition that causes swelling under the skin and lining of the gut and lungs as defined by WebMD.
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On a per-share basis, the Durham-based company said it had a loss of 32 cents.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 36 cents per share.
The drugmaker posted revenue of $65.5 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $63.9 million.
BioCryst shares have dropped 19% since the beginning of the year. The stock has declined 33% in the last 12 months.
