DURHAM – BioCryst Pharmaceuticals plans to introduce products for an expanding lineup of treatments today but Thursday’s latest financial results points to further sales for its Orladeyo which the company says is on target to hit $1 billion in annual sales.
Orladeyo is an oral, once-daily treatment for prevention of hereditary angioedema (HAE) attacks.
The company (BCRX) reported a loss of $36.1 million in its third quarter, or 19 cents a share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
But the drug maker posted revenue of $86.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $86.5 million.
The driver: Orladevo.
“With nearly three years of launch data, we have excellent visibility into the pattern of growth for Orladevo and we remain on track to achieve the no less than $320 million in Orladevo revenues we have expected for 2023,” said CEO Jon Stonehouse.
“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.”
He made similar comments in May.