Stock Track | BioCryst Shares Plunge on Q3 Earnings Miss Despite Strong Revenue Growth

Stock Track11-04

Shares of BioCryst Pharmaceuticals (NASDAQ: BCRX) plummeted over 5% in pre-market trading on Friday, November 4, 2024, after the company reported mixed third-quarter financial results.

The biopharmaceutical company, which specializes in developing treatments for rare diseases, reported a GAAP net loss of $14.0 million, or $0.07 per share, for the third quarter of 2024. This missed analysts' consensus estimate of a $0.06 loss per share and contributed to the stock's pre-market decline.

However, BioCryst's revenue for the quarter surged 35.1% year-over-year to $117.1 million, driven by strong sales of its flagship product, ORLADEYO, for the prevention of hereditary angioedema attacks. The company's ORLADEYO net revenue grew 35.7% to $116.3 million, beating expectations.

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