BioCryst Pharmaceuticals, Inc. (BCRX) Stock Price & How to Invest
Short answer
BCRX is BioCryst Pharmaceuticals, a commercial-stage rare-disease biotech whose story now rides almost entirely on ORLADEYO, its oral once-daily pill for hereditary angioedema (HAE). It is a single-product growth company transitioning toward profitability while spending heavily to defend and extend its HAE franchise, so anyone weighing it is really taking a view on ORLADEYO durability plus the Astria-acquired injectable navenibart.
BCRX stock price
As of 2026-07-08, BioCryst Pharmaceuticals, Inc. (BCRX) last closed at $11.11, up 22.6% over the past year. Over the past 52 weeks it has traded between $6.24 and $11.11.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or BioCryst Pharmaceuticals, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does BioCryst Pharmaceuticals, Inc. (BCRX) do?
BioCryst Pharmaceuticals develops and commercializes medicines for rare diseases, with a near-total focus on hereditary angioedema (HAE), a genetic disorder that causes unpredictable and sometimes life-threatening swelling attacks. Its lead product is ORLADEYO (berotralstat), the first oral, once-daily plasma kallikrein inhibitor approved to prevent HAE attacks, which competes against injectable and infused prophylaxis therapies. The company also markets RAPIVAB (peramivir) for influenza and, through its January 2026 acquisition of Astria Therapeutics, added navenibart (formerly STAR-0215), a long-acting injectable antibody in Phase 3 for HAE prophylaxis, plus an early-stage ocular program (avoralstat).
The investment picture is a concentrated, single-franchise growth story approaching an inflection. ORLADEYO net revenue reached roughly $601 million in 2025 (up about 37 percent) and management guides to roughly $625 to $645 million for 2026, and BioCryst has been converting that growth into non-GAAP operating profit even as headline GAAP results were dominated by a large one-time non-cash charge tied to the Astria deal. The key tensions are ORLADEYO's peak-sales ceiling, an increasingly crowded HAE market, and the debt and dilution taken on to fund navenibart, which is not expected to be filed until around the end of 2027.
What's driving BioCryst Pharmaceuticals, Inc. (BCRX)?
1. ORLADEYO revenue growth and operating leverage
ORLADEYO is the engine, growing from about $601 million in 2025 toward guided 2026 revenue of roughly $625 to $645 million as the only oral once-daily HAE prophylaxis. As a high-margin small molecule with a largely built-out commercial base, incremental sales drop toward the bottom line, which is why BioCryst reported non-GAAP operating profit of about $54 million in Q1 2026 even while investing heavily. Continued patient adds and international expansion are the swing factor for whether growth stays double-digit.
2. Navenibart and the Astria pipeline bet
The roughly $700 million enterprise-value Astria acquisition brought navenibart, a long-acting injectable plasma kallikrein antibody in Phase 3 for HAE with potential dosing as infrequent as every three or six months. If it reads out well and files around the end of 2027, it could extend BioCryst's HAE leadership beyond ORLADEYO's oral niche. It is also the largest single reason for the added debt, share issuance, and the big one-time acquired-IPR&D charge.
3. Path to sustained GAAP profitability and self-funding
BioCryst has been pivoting toward a leaner model, ending internal discovery work and leaning on partnerships to cut cash burn. Management frames 2026 as a year of expanding operating profit on the non-GAAP basis, with the goal of funding navenibart's late-stage program largely from ORLADEYO cash flow rather than repeated capital raises. Reaching durable GAAP profitability would materially change how the market values the franchise.
4. International and label expansion of the HAE franchise
Beyond the core U.S. business, BioCryst continues to widen ORLADEYO's geographic footprint and pursue additional data (including pediatric and long-term durability evidence) to defend share. Broader reimbursement and new markets add incremental revenue without proportionate cost, supporting the guided revenue trajectory.
What are the risks to BioCryst Pharmaceuticals, Inc. (BCRX)?
BioCryst is a concentrated single-franchise story: the large majority of revenue comes from ORLADEYO, so any competitive share loss, pricing pressure, or safety signal would hit hard. The HAE prophylaxis market is crowding fast, with Takeda's Takhzyro, CSL's Andembry, and Ionis's Dawnzera (donidalorsen) all competing for the same patients on convenience and dosing frequency. The Astria acquisition added debt (including a Blackstone financing facility) and share dilution, and navenibart still carries clinical and regulatory risk with an expected filing only around the end of 2027. GAAP results have been distorted by large non-cash charges, and the company has a history of operating losses, so profitability at the GAAP level is not yet proven. As a biotech, it remains sensitive to trial outcomes, regulatory decisions, and financing conditions.
How is BioCryst Pharmaceuticals, Inc. (BCRX) valued? (approximate, JUNE 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see BioCryst Pharmaceuticals, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$630M
- Q1 2026 total revenue: ~$156M
- Q1 2026 ORLADEYO revenue: ~$148M (up ~11% YoY)
- 2026 ORLADEYO guidance: ~$625M to $645M
- Market cap: ~$2.6B
- Cash and investments: ~$261M (~$331M pro forma)
BioCryst trades on the strength and durability of its ORLADEYO franchise rather than on GAAP earnings, since 2026 results were dominated by a roughly $698 million one-time non-cash acquired-IPR&D charge from the Astria deal that produced a large GAAP operating loss. On a non-GAAP basis the company reported operating profit and reaffirmed full-year revenue guidance. Because so much value sits in a single growing product plus a late-stage pipeline candidate, the market cap reflects expectations for peak ORLADEYO sales and navenibart success as much as trailing figures.
Who competes with BioCryst Pharmaceuticals, Inc. (BCRX)?
Injectable and infused HAE prophylaxis leaders
Takeda's Takhzyro (lanadelumab) and CSL Behring's Haegarda and newer Andembry are the entrenched subcutaneous or infused prophylaxis therapies BioCryst set out to disrupt with an oral pill. Takhzyro alone has been a roughly billion-dollar-plus franchise, so these are the scale competitors for the same patient pool.
Next-generation and RNA-targeted HAE entrants
Ionis's Dawnzera (donidalorsen) is an RNA-targeted subcutaneous prophylaxis with infrequent dosing, and navenibart (which BioCryst itself acquired) represents the long-acting antibody wave. These newer mechanisms and dosing schedules are the main threat to ORLADEYO's convenience advantage over time.
Broader rare-disease and specialty pharma
As a focused rare-disease commercial-stage biotech, BioCryst competes for investor capital and commercial talent with other single- or few-product specialty pharmas. Its profile (fast-growing lead product, late-stage pipeline bet, path toward profitability) puts it in the same bucket investors compare against similar mid-cap rare-disease names.
How to invest in BioCryst Pharmaceuticals, Inc. (BCRX)
There are three common ways to get BCRX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so BCRX sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where BCRX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on BioCryst Pharmaceuticals, Inc. (BCRX)
BioCryst is a focused HAE pharma with a fast-growing oral franchise and a big pipeline bet, so the picture hinges on ORLADEYO staying dominant against a widening field of rival prophylaxis drugs.
More on BioCryst Pharmaceuticals, Inc. (BCRX)
Whether BCRX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is BCRX a buy?, and where the stock could go from here in the BCRX stock forecast.
For income investors, whether BCRX pays a dividend and how the payout looks is covered in does BCRX pay a dividend?
Build a basket around BCRX with Walnut
Use BioCryst Pharmaceuticals, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does BioCryst Pharmaceuticals (BCRX) do?
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BioCryst is a commercial-stage biotech focused on rare diseases, especially hereditary angioedema (HAE). Its main product is ORLADEYO, an oral once-daily pill that prevents HAE swelling attacks. It also markets RAPIVAB for influenza and is developing the injectable navenibart for HAE.
What is ORLADEYO and why does it matter so much to BCRX?
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ORLADEYO (berotralstat) is the first oral, once-daily plasma kallikrein inhibitor approved to prevent HAE attacks, competing against injectable and infused therapies. It accounts for the large majority of BioCryst's revenue, so the company's results and outlook track closely with ORLADEYO sales.
How fast is ORLADEYO growing?
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ORLADEYO net revenue reached roughly $601 million in 2025, up about 37 percent, and management guides to roughly $625 million to $645 million for 2026. First-quarter 2026 ORLADEYO revenue was about $148 million, up roughly 11 percent year over year on a reported basis.
Why did BioCryst acquire Astria Therapeutics?
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BioCryst acquired Astria in January 2026 (around $700 million enterprise value) mainly to obtain navenibart, a long-acting injectable antibody in Phase 3 for HAE prophylaxis. The goal is to extend its HAE leadership beyond ORLADEYO's oral niche, though the deal added debt and dilution.
Is BioCryst profitable?
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As of mid-2026 BioCryst reported non-GAAP operating profit and improving operating leverage, but GAAP results showed a large operating loss driven by a roughly $698 million one-time non-cash charge from the Astria acquisition. Sustained GAAP profitability is a stated goal but not yet proven.
Who are BioCryst's main competitors?
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In HAE prophylaxis it competes with Takeda's Takhzyro, CSL Behring's Haegarda and Andembry, and Ionis's Dawnzera (donidalorsen). These include entrenched injectable leaders and newer RNA-targeted and long-acting entrants offering different dosing convenience.
What are the biggest risks for BCRX?
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The main risks are heavy reliance on a single product (ORLADEYO), a crowding HAE market, debt and dilution from the Astria deal, and clinical and regulatory risk on navenibart, which is not expected to be filed until around the end of 2027. As a biotech it is also sensitive to trial and financing outcomes.
How can someone invest in or research BCRX?
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BCRX trades on the Nasdaq, so it can be bought through a standard brokerage account like any US-listed stock. Investors typically research its ORLADEYO revenue trend, competitive share in HAE, cash and debt position, and navenibart progress. Walnut is not an investment adviser, and this is descriptive information, not a recommendation.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with BioCryst Pharmaceuticals, Inc.'s investor relations page or your broker before making investment decisions.