BioCryst Pharmaceuticals, Inc. (BCRX) announced its first-quarter 2021 financial results after which the BCRX stock happened to be green as its per-share price went up by 8.05% to reach $11.54 a share as of this writing. BCRX stock was gloomy in the previous trading session and dropped by 3.00% at closing.Let’s analyze the financial results to justify the bullish sentiment.
First Quarter Financial Results:
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- The total revenues of BCRX stock for the first three months ended March 31,2020, were $19.1 million which is significantly higher than the $4.8 million in the same tenure of the prior year.$10.9 million in ORLADEYO net revenue is the main reason for this increase.
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- Research and Development expenses for BioCryst stock increased to $42.4 million for Q1 2021 from $29.9 million in Q1 2020.Selling , general and administrative expenses of BCRX stock were increased to $22.1 million from $15.9 million in the first three months of 2020.
- BCRX stock reported $6.4 million interest and other income in the Q1 of 2020 and interest expense was $12.9 million for BCRX stock in the reported quarter.
- BCRX stock suffered a net loss of $64.3 million or $0.36 per share in the first quarter of 2021 as compared to $37.6 million or $0.24 per share in the same period of the prior year.
Balance Sheet& Financial Outlook:
- As of March 31, 2021, BioCryst Pharmaceuticals had cash, cash equivalents, restricted cash, and investments of $244.4 million as compared to $114.6 million at the same date of 2020.
- BioCryst stock has not provided specific guidance regarding the revenue and operating expenses as ORLADEYO is in the launch phase.Management is optimistic that the current cash will be sufficient till 2023.
Key Developments:
- The net revenue of ORLADEYO in the first quarter reached $10.9 million.
- BCRX stock got the approval for ORLADEYO in the United States, Japan, and Europe.
- BioCryst stock reached an agreement with the U.S Food & Drug Administration(FDA) that the primary endpoint for the pivotal PNH trials of oral BCX9930 which are going to start in the second half of 2021 is the change from baseline in hemoglobin.
Conclusion:
First-quarter 2021 financial results have made BCRX stock green in the pre-market today.The revenues, as well as the balance sheet of the BCRX stock, increased over the year which is a good sign for the BioCryst stock. Approvals from different marketplaces would prove to be fruitful for BCRX stock. Hence it can be a good bet for investors in the long run.
