BioCryst Pharmaceuticals (BCRX) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and BioCryst Pharmaceuticals published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• BioCryst sold its European ORLADEYO business to Neopharmed Gentili on October 1, 2025. The year-ago ORLADEYO revenue of $159.1 million includes $13.8 million from that business.
• BioCryst acquired Astria Therapeutics on January 23, 2026 and expensed $697.8 million of acquired in-process research and development for navenibart in Q1 2026, which is why Q1 2026 shows a loss of $2.98 per share.
• BioCryst reports non-GAAP operating profit and net income but no non-GAAP EPS figure.

Source: BioCryst Q3 2026 financial results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How BioCryst Pharmaceuticals splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• BioCryst Pharmaceuticals's ORLADEYO revenue was $175 million in Q3 2026, up 10% from $159 million in Q3 2025, 97% of total revenue.
• BioCryst Pharmaceuticals's License and other revenues revenue was $5.5 million in Q3 2026, up 1617% from $0.3 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, BioCryst Pharmaceuticals said:

“The company maintained its outlook for full year 2026 global net ORLADEYO revenue of $625 million to $645 million and increased its full year 2026 total revenue outlook, including revenue from RAPIVAB ® (peramivir injection) and the licensing of navenibart European rights, to $715 million to $730 million.”

“The company improved its outlook for full year 2026 non-GAAP operating expenses, excluding stock-based compensation, restructuring, and transaction-related costs, to $415 million to $425 million.”

Source: BioCryst Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the BCRX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's release. Q4 2025 total revenues include revenue tied to the sale of the European ORLADEYO business, and Q2 2026 includes license revenue from navenibart European rights.

We do not hold a confirmed date for BioCryst Pharmaceuticals's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Most of BioCryst Pharmaceuticals' revenue comes from ORLADEYO (berotralstat), its once-daily oral drug for preventing hereditary angioedema attacks, which brought in $174.8 million of Q3 2026 total revenues of $180.3 million. License and other revenues, which include RAPIVAB (peramivir) and the licensing of navenibart rights, were $5.5 million. (BioCryst Q3 2026 release, Nov 4, 2026; BioCryst Form 10-K, 2025, Feb 26, 2026)

BioCryst's reported growth is 13%, or 24% on a comparable basis excluding European revenue, because it sold the European ORLADEYO business on October 1, 2025. On the 10-Q's comparable basis ORLADEYO revenue rose $29.6 million from $145.3 million. (BioCryst Q3 2026 release, Nov 4, 2026; BioCryst Form 10-Q, Q3 2026, Nov 4, 2026)

Part of that increase came from stocking at a new pharmacy. BioCryst moved US shipments to a new sole-source specialty pharmacy, CareMed, in the quarter. Unlike the old arrangement, the new pharmacy takes title to ORLADEYO and must hold 7-21 days of inventory, and its initial stocking added an amount in the upper teens of millions of dollars to revenue. BioCryst said ORLADEYO revenue excluding Europe still grew year over year without that build, from higher net price and pediatric oral pellet volume, partly offset by lower capsule shipments. (BioCryst Form 10-Q, Q3 2026, Nov 4, 2026; BioCryst Q3 2026 release, Nov 4, 2026)

BioCryst launched ORLADEYO oral pellets for children aged 2 to <12 years in August, and in October the FDA approved the pellet formulation for patients aged 12 and older. The 10-K puts HAE prevalence at between 1 in 33,000 to 1 in 67,000 people. (BioCryst Q3 2026 release, Nov 4, 2026; BioCryst Form 10-K, 2025, Feb 26, 2026)

BioCryst Pharmaceuticals earned $37.9 million, or $0.14 per diluted share, in Q3 2026, against $12.9 million, or $0.06, a year earlier. Operating profit was $53.3 million on a GAAP basis and $86.5 million on a non-GAAP basis. The $33.2 million gap is stock-based compensation of $14.2 million plus Birmingham site closure costs (severance of $6.1 million and a long-lived asset impairment of $9.5 million) and a $3.4 million workforce reduction. (BioCryst Q3 2026 release, Nov 4, 2026)

Interest is BioCryst's largest cost below operating profit. Interest expense was $21.2 million in the quarter, of which $12.3 million was non-cash interest on its royalty financing obligations, and BioCryst paid $33.7 million in cash on those obligations. At September 30, 2026 it carried a $395.6 million secured term loan and a $421.7 million royalty financing obligation. (BioCryst Q3 2026 release, Nov 4, 2026)

Diluted weighted average shares rose to 267,621 thousand from 219,885 thousand, mainly because BioCryst issued 37,282 thousand shares to Astria's equity holders when the merger closed in January 2026. (BioCryst Q3 2026 release, Nov 4, 2026; BioCryst Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

BioCryst Pharmaceuticals gives full-year revenue and expense guidance in its release. With Q3 2026 it kept 2026 global net ORLADEYO revenue at $625 million to $645 million, raised total revenue to $715 million to $730 million from $690 million to $715 million on higher navenibart licensing revenue and RAPIVAB orders from international partners, and lowered non-GAAP operating expenses to $415 million to $425 million from $420 million to $440 million. (BioCryst Q3 2026 release, Nov 4, 2026)

BioCryst expects initial BCX17725 data in Netherton syndrome patients by the end of 2026 and top-line results from the navenibart ALPHA-ORBIT study in Q3 2027. It expects the Birmingham site closure to cost about $10 million in cash and save about $30 million to $35 million a year once fully realized. (BioCryst Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover BioCryst Pharmaceuticals, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones BioCryst Pharmaceuticals's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning BCRX is on is BCRX a buy or a sell?, what analysts expect next is on the BCRX forecast, and what the company does is on the BioCryst Pharmaceuticals (BCRX) stock page.

Every number on this page can be traced to a document BioCryst Pharmaceuticals published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.