BioCryst Pharmaceuticals, Inc. (BCRX) stock is rising today after the release of the second quarter of 2021 financial results. BCRX stock price saw a surge of 9.72% to reach $17.84 a share as of this writing. The stock was falling before the earnings announcement and went low by 2.98% at the previous closing. Let’s discuss the recent events in detail.
Second Quarter 2021 Financial Results:
- BioCryst stock reported $50.0 million in total revenues for the second quarter of 2021. This is significantly higher than $2.9 million in the same tenure of the previous year.
- BCRX stock spent $52.9 million in research and development expenses in the reported quarter. These expenses increased as compared to $27.5 million in the same quarter of last year due to the development of BCX9930 along with other development, research, and pre-clinical costs.
- Selling and general expenses jumped from $13.9 million in Q2 2020 to $26.3 million in Q2 2021. This increase is mainly due to investment in .S. commercial launch of ORLADEYO along with expanded international operations.
- Interest expense of the BCRX stock increased from $2.9 million in Q2 2020 to $13.5 million in Q2 2021. The increase is attributable to service on the royalty and debt financings, completed in December 2020.
- BCRX stock reported a net loss of $43.2 million, or $0.24 per share in the second quarter of 2021. This compares to the net loss of $38.6 million, or $0.24 per share in the same quarter of last year.
Balance Sheet of BCRX stock:
As of June 30, 2021, BioCryst stock reported $222.8 million in cash, cash equivalents, restricted cash, and investments. These were $191.6 million on the same date as the previous year. The stock used $22.0 million operating cash in the reported quarter.
BCRX stock’s 2021 Financial outlook:
The stock has not provided specific revenue or operating expenses guidance so far. However, considering all the financial facts and figures including the $75 million existing credit facility, the management expects that current cash will be sufficient for operations till 2023.
Conclusion:
BCRX stock is now in a good position, both short and long-term. The revenue from the ORLADEYO launch in the U.S is growing as it recorded $28.5 million in the reported quarter. More approvals and launches of ORLADEYO will be expected to happen around the globe. The stock is also progressing in its clinical development programs. Hence it can be a good bet for investors in the long run.
