BioCryst Pharmaceuticals Files 10-Q for Q2 2024

TL;DR

BCRX 10-Q filed: Financials for Q2 2024 out. Check retained earnings & OCI.

AI Summary

BioCryst Pharmaceuticals Inc. reported its financial results for the period ending June 30, 2024. The company's filing details its financial position and performance, including various assets and equity components. Specific figures for retained earnings and other comprehensive income are provided for the periods ending June 30, 2024, and December 31, 2023.

Why It Matters

This filing provides investors with an update on BioCryst's financial health and operational performance, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, BioCryst faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 20240630 — Reporting Period End Date (Quarterly financial data pertains to this date.)
• 2023-12-31 — Prior Year End Date (Comparative financial data is presented against this date.)

Key Players & Entities

• BIOCRYST PHARMACEUTICALS INC (company) — Filer
• DURHAM (location) — Company Headquarters
• 20240630 (date) — Reporting Period End Date
• 20240806 (date) — Filing Date

FAQ

Key Financial Figures

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

Filing Documents

• bcrx-20240630.htm (10-Q) — 1458KB
• exhibit102-biocrystxfirsta.htm (EX-10.2) — 7KB
• exhibit103-biocrystpharmac.htm (EX-10.3) — 17KB
• exhibit104-biocrystsipperf.htm (EX-10.4) — 45KB
• bcrx-20240630xexx311.htm (EX-31.1) — 9KB
• bcrx-20240630xexx312.htm (EX-31.2) — 9KB
• bcrx-20240630xexx321.htm (EX-32.1) — 5KB
• bcrx-20240630xexx322.htm (EX-32.2) — 5KB
• 0001628280-24-035170.txt ( ) — 8017KB
• bcrx-20240630.xsd (EX-101.SCH) — 59KB
• bcrx-20240630_cal.xml (EX-101.CAL) — 66KB
• bcrx-20240630_def.xml (EX-101.DEF) — 244KB
• bcrx-20240630_lab.xml (EX-101.LAB) — 707KB
• bcrx-20240630_pre.xml (EX-101.PRE) — 477KB
• bcrx-20240630_htm.xml (XML) — 1161KB

Financial Information

Part I. Financial Information 1

Financial Statements

Item 1. Financial Statements: 1 Condensed Consolidated Balance Sheets as of June 30 , 2024 and December 31, 2023 1 Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended June 30 , 2024 and 2023 2 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30 , 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Deficit for the Three and Six Months Ended June 30 , 2024 and 2023 4 Notes to Condensed Consolidated Financial Statements 6

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 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 43

Other Information

Part II. Other Information 45

Risk Factors

Item 1A. Risk Factors 45

Other Information

Item 5. Other Information 73

Exhibits

Item 6. Exhibits 75

Signatures

Signatures 77 E X-10.2 E X-10.3 E X-10.4 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 inh

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) June 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 78,410 $ 110,643 Restricted cash 1,795 1,804 Investments 193,617 278,344 Trade receivables 68,759 56,950 Inventory, net 4,450 28,683 Prepaid expenses and other current assets 16,426 19,542 Total current assets 363,457 495,966 Long-term inventory, net 24,525 — Property and equipment, net 7,663 7,910 Long-term investments 64,317 — Other assets 12,457 13,084 Total assets $ 472,419 $ 516,960 Liabilities and Stockholders' Deficit Accounts payable $ 7,786 $ 20,893 Accrued expenses 89,598 102,882 Operating lease liabilities 1,026 1,058 Finance lease liabilities 1,681 1,590 Royalty financing obligations 28,974 23,565 Total current liabilities 129,065 149,988 Operating lease liabilities 8,362 8,390 Finance lease liabilities 2,117 2,845 Royalty financing obligations 494,659 508,034 Secured term loan 313,822 303,231 Stockholders' deficit: Preferred stock, $ 0.01 par value; shares authorized - 5,000 ; no shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value; shares authorized - 450,000 ; shares issued and outstanding – 206,629 at June 30, 2024 and 205,771 at December 31, 2023 2,066 2,058 Additional paid-in capital 1,250,983 1,222,236 Accumulated other comprehensive income 557 1,337 Accumulated deficit ( 1,729,212 ) ( 1,681,159 ) Total stockholders' deficit ( 475,606 ) ( 455,528 ) Total liabilities and stockholders' deficit $ 472,419 $ 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues $ 109,332 $ 8

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View this 10-Q filing on SEC EDGAR