DURHAM, NC – BioCryst Pharmaceuticals , Inc. (NASDAQ:BCRX), a pharmaceutical company with a market capitalization of $1.69 billion and impressive revenue growth of 30% over the last twelve months, has announced an increase in the wholesale acquisition cost (WAC) of its medication ORLADEYO® (berotralstat), effective today. The price adjustment affects the 28-day pack of ORLADEYO®, which is available in two dosages, 150mg and 110mg capsules.
The new WAC for the product is set at $44,484.33 per pack, marking an increase from the previous cost of $42,366.03. The company, headquartered in Durham, North Carolina, confirmed this change through a filing with the Securities and Exchange Commission (SEC).
According to InvestingPro analysis, BioCryst maintains a healthy gross profit margin of 52.14%, suggesting strong pricing power in its market. For deeper insights into BioCryst's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
BioCryst Pharmaceuticals, which operates under the jurisdiction of Delaware, is listed on the Nasdaq Global Select Market under the trading symbol BCRX. The company's stock has shown significant momentum, with a 26.79% return over the past six months according to InvestingPro data. The price change for ORLADEYO® was disclosed in a Form 8-K, a report mandated by the SEC for announcing significant events relevant to shareholders.
The Form 8-K filing emphasized that the information should not be considered as "filed" for regulatory purposes or as part of the company's continuous disclosure obligations under the Exchange Act. Additionally, the report should not be incorporated by reference into any of the company's other filings unless explicitly stated.
BioCryst Pharmaceuticals focuses on developing and commercializing novel treatments in the field of biological products, excluding diagnostic substances. The company's decision to adjust the price of ORLADEYO® is now public information, based on the statement filed with the SEC. This move could potentially impact the cost considerations for healthcare providers and patients managing the financial aspects of treatment with ORLADEYO®.
The filing was signed by Alane Barnes, the Chief Legal Officer of BioCryst Pharmaceuticals, affirming the company's compliance with the requirements of the Securities Exchange Act of 1934.
Investors and stakeholders in the pharmaceutical industry may take note of this development as it pertains to BioCryst's commercial strategy and pricing policies in the United States. The information is based on a press release statement and reflects the company's latest financial decision regarding its product.
In other recent news, BioCryst Pharmaceuticals reported strong growth in its Q3 earnings call, with a significant 36% year-over-year increase in revenue primarily driven by its ORLADEYO product. Total (EPA:TTEF) revenue reached $117.1 million, and the company has adjusted its 2024 revenue guidance to between $430 and $435 million. Furthermore, BioCryst anticipates reaching $1 billion in annual revenue by 2029.
Recent developments include progress in clinical trials, with BCX17725 for Netherton syndrome entering the clinical stage and plans to submit regulatory filings for an oral prophylactic therapy for children with hereditary angioedema by 2025. The company also reported an operating profit of $24.9 million, excluding stock compensation, and ended the quarter with strong cash reserves of $351.7 million.
Looking ahead, BioCryst aims for quarterly cash flow positivity by late 2024 and full-year profitability in 2026. The company also expects to add approximately 200 new patients annually, outpacing last year's rate by 14-15%. However, a slight slowdown in quarterly sales growth for ORLADEYO is expected in Q4 2024 and 2025.
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