BioCryst Pharmaceuticals Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>BioCryst Pharmaceuticals Inc. filed its Q1 2024 10-Q report on May 7, 2024.</b>

AI Summary

BIOCRYST PHARMACEUTICALS INC (BCRX) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. BioCryst Pharmaceuticals Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31. The filing was made on May 7, 2024. The company's principal business is Biological Products (No Diagnostic Substances).

Why It Matters

For investors and stakeholders tracking BIOCRYST PHARMACEUTICALS INC, this filing contains several important signals. This 10-Q filing provides investors with the company's financial performance and operational updates for the first quarter of 2024. Understanding the details within this report is crucial for assessing BioCryst's current financial health, strategic direction, and future prospects.

Risk Assessment

Risk Level: low — BIOCRYST PHARMACEUTICALS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress indicators or major strategic shifts that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand revenue drivers, R&D expenses, and any forward-looking statements.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 2024 — Fiscal Year (Fiscal year end)
• 2836 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• BIOCRYST PHARMACEUTICALS INC (company) — Filer name
• BCRX (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• DURHAM (location) — Business address city
• NC (location) — Business address state
• 919-859-1302 (phone) — Business phone
• DE (location) — State of incorporation

FAQ

Industry Context

BioCryst Pharmaceuticals operates in the biotechnology sector, focusing on the development and commercialization of medicines for rare diseases.

Regulatory Implications

As a pharmaceutical company, BioCryst is subject to stringent regulatory oversight from bodies like the FDA regarding drug development, approval, and marketing.

What Investors Should Do

1. Analyze the revenue and expense breakdown for Q1 2024.
2. Examine any disclosures regarding product development pipelines and clinical trial progress.
3. Review the balance sheet for changes in assets, liabilities, and equity.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal quarter ending March 31, 2024, providing the first look at the company's performance in this period.

Key Financial Figures

• $0 — er of shares of Common Stock, par value $0.01, of the Registrant outstanding as of

Filing Documents

• bcrx-20240331.htm (10-Q) — 1263KB
• bcrx-20240331xexx311.htm (EX-31.1) — 9KB
• bcrx-20240331xexx312.htm (EX-31.2) — 9KB
• bcrx-20240331xexx321.htm (EX-32.1) — 5KB
• bcrx-20240331xexx322.htm (EX-32.2) — 5KB
• 0001628280-24-021069.txt (&nbsp;) — 7241KB
• bcrx-20240331.xsd (EX-101.SCH) — 58KB
• bcrx-20240331_cal.xml (EX-101.CAL) — 61KB
• bcrx-20240331_def.xml (EX-101.DEF) — 240KB
• bcrx-20240331_lab.xml (EX-101.LAB) — 678KB
• bcrx-20240331_pre.xml (EX-101.PRE) — 461KB
• bcrx-20240331_htm.xml (XML) — 1005KB

Financial Information

Part I. Financial Information 1

Financial Statements

Item 1. Financial Statements: 1 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 20 23 1 Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31 , 202 4 and 20 23 2 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31 , 20 24 and 20 23 3 Condensed Consolidated Statements of Stockholders' Deficit for the Three Months Ended M arch 31, 202 4 and 2023 4 Notes to Condensed Consolidated Financial Statements 5

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 29

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 41

Other Information

Part II. Other Information 43

Risk Factors

Item 1A. Risk Factors 43

Other Information

Item 5. Other Information 71

Exhibits

Item 6. Exhibits 72

Signatures

Signatures 73 EX-31.1 EX-31.2 EX-32.1 EX-32.2 Table of Contents When used in this report, unless otherwise indicated, " we, " " our, " " us, " the " Company, " and " BioCryst " refer to BioCryst Pharmaceuticals, Inc. and, where appropriate, its subsidiaries. Cautionary Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q (this "report") includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the "safe harbor" created in Section 21E. In particular, statements about our expectations, beliefs, plans, objectives or assumptions of future events or performance are contained or incorporated by reference in this report. All statements other than statements of historical facts contained herein are forward-looking statements. These forward-looking statements can generally be identified by the use of words such as "may," "will," "intends," "plans," "believes," "anticipates," "expects," "estimates," "predicts," "potential," the negative of these words or similar expressions. Statements that describe our future plans, strategies, intentions, expectations, objectives, goals or prospects are also forward-looking statements. Discussions containing these forward-looking statements are principally contained in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of this report, as well as any amendments we make to those sections in filings with the Securities and Exchange Commission ("SEC"). These forward-looking statements include, but are not limited to, statements about: the preclinical development, clinical development, commercialization, or post-marketing studies of our products and product candidates, including ORLADEYO (berotralstat), BCX10013, and early-stage discovery programs (including BCX17725, avoralstat, and our complement inhibitors), and our plans regarding

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements BIOCRYST PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value amounts, Unaudited) March 31, 2024 December 31, 2023 Assets Cash and cash equivalents $ 84,333 $ 110,643 Restricted cash 1,798 1,804 Investments 252,221 278,344 Trade receivables 60,586 56,950 Inventory, net 29,781 28,683 Prepaid expenses and other current assets 18,381 19,542 Total current assets 447,100 495,966 Property and equipment, net 7,831 7,910 Other assets 12,961 13,084 Total assets $ 467,892 $ 516,960 Liabilities and Stockholders' Deficit Accounts payable $ 11,910 $ 20,893 Accrued expenses 79,249 102,882 Operating lease liabilities 1,098 1,058 Finance lease liabilities 1,642 1,590 Royalty financing obligations 26,022 23,565 Total current liabilities 119,921 149,988 Operating lease liabilities 8,596 8,390 Finance lease liabilities 2,506 2,845 Royalty financing obligations 504,552 508,034 Secured term loan 308,484 303,231 Stockholders' deficit: Preferred stock, $ 0.01 par value; shares authorized - 5,000 ; no shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value; shares authorized - 450,000 ; shares issued and outstanding – 206,347 at March 31, 2024 and 205,771 at December 31, 2023 2,063 2,058 Additional paid-in capital 1,237,537 1,222,236 Accumulated other comprehensive income 771 1,337 Accumulated deficit ( 1,716,538 ) ( 1,681,159 ) Total stockholders' deficit ( 476,167 ) ( 455,528 ) Total liabilities and stockholders' deficit $ 467,892 $ 516,960 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents BIOCRYST PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In thousands, except per share amounts, Unaudited) Three Months Ended March 31, 2024 2023 Revenues $ 92,761 $ 68,778 Expenses: Cost of product sales 1,265 931 Research and development 46,493 48,388 Selling

View Full Filing

View this 10-Q filing on SEC EDGAR