IMI Site
Related Articles
What happened
Actions of BioCryst Pharmaceuticals (NASDAQ: BCRX) were up 14.5% as of 10:51 a.m. EDT Thursday. The big gain came after the drugmaker provided its Q1 update before the market opened.
So what
BioCryst had a lot of good news to share in its quarterly update. The company reported total first-quarter revenue of $ 19.1 million, more than double Wall Street’s consensus revenue estimate of $ 8.9 million.
Image source: Getty Images.
The main driver of this strong growth has been Orladeyo. The hereditary angioedema (HAE) drug generated net sales of $ 10.9 million in the first quarter, its first full quarter in the US market. BioCryst said the majority of those sales came from new patients who switched to Orladeyo from other drugs or from acute treatment only.
In addition to its better than expected sales, BioCryst also announced that it has entered into an agreement with the United States Food and Drug Administration (FDA) to use the change from baseline hemoglobin as the primary endpoint for its Planned pivotal clinical studies evaluating BCX9930 for the treatment of rare paroxysmal nocturnal hemoglobinuria (PNH). The company released clinical results in March that showed the investigational drug resulted in a significant increase in hemoglobin in patients with PNH.
Now what
The biotech stock could have several potential catalysts on the way. BioCryst received European Commission approval for Orladeyo on April 30. The company expects a commercial launch of the drug in Germany this quarter and will continue by launching Orladeyo in other European markets. He is also hoping to get UK approval for the drug.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.
Source link
