BioCryst’s Orladeyo Built The Cash Pile, CEO Gayer Wants To Buy The Next Asset

CEO Gayer told CNBC in an interview that the company is now profitable and plans to use that cash to invest in other rare-disease medicines.

• Gayer, who took the top job in January, said Orladeyo, BioCryst’s once-daily pill for hereditary angioedema, is generating the money to fund a new drug buy. 
• BioCryst expects full-year Orladeyo revenue at $625 million to $645 million.
• Earlier this year, BioCryst completed its acquisition of Astria Therapeutics to gain access to the drug navenibart. 

BioCryst Pharmaceuticals (BCRX) CEO Charlie Gayer reportedly wants to buy rare-disease medicines following the success of its drug Orladeyo. 

Gayer told CNBC in an interview that the company is now profitable and wants to spend that cash on other rare-disease medicines. Gayer, who took the top job in January, said Orladeyo, BioCryst’s once-daily pill for hereditary angioedema, is generating the money to fund that shift. The company expects up to $645 million in Orladeyo sales this year. The drug has generated more than $2 billion in revenue since U.S. approval in 2020.

“We were profitable last year, we’re going to be more profitable this year, more profitable next year. We will never drop below the line again,” Gayer said. He added that BioCryst is trying to shed the image of a one-product firm. “We’re a rare disease company, and we’ve got the resources to do more.”

Cash From The Pill, Deals From The Outside

Gayer’s comments are in tandem with a June decision to shut down internal discovery work and close the Birmingham, Ala., research site by year-end. Gayer has said the next products should come from outside deals, not its own lab. Larger drugmakers have been chasing bigger assets. BioCryst is positioning itself as a buyer in the rare-disease gap they leave behind.

“What has BioCryst done in 40 years? Launched Orladeyo, which was super successful. We launched a drug called Rapivab, which served a niche. But two things in 40 years. And so now what we’re realizing is doing it all internally ourselves isn’t feasible. There’s too much risk, too much expense,” Gayer reportedly said. 

The commercial base is already in place. In the second quarter, Orladeyo sales were $158.2 million. BioCryst kept full-year Orladeyo guidance at $625 million to $645 million and raised total revenue guidance to $690 million to $715 million. U.S. shipments of a pediatric pellet form of the drug started the week of August 3. 

BCRX Pipeline

The nearest readout for BCRX is now BCX17725, an experimental treatment for Netherton syndrome, a rare skin disease with no approved targeted therapy. Early patient data are due by the end of 2026.

Further out is navenibart, a long-acting injectable also meant to prevent hereditary angioedema attacks. Enrollment in the late-stage ALPHA-ORBIT study finished in June. Top-line results are expected in the third quarter of 2027. BioCryst gained access to navenibart through its acquisition of Astria Therapeutics, completed earlier this year for about $700 million. 

How Did BCRX Retail Traders React? 

On Stocktwits, retail sentiment around BCRX remained ‘bearish’ over the past 24 hours, while message volume was ‘low.’ 

A Stocktwits user opined that the stock is “way undervalued” provided it has a “hugely profitable blockbuster drug.” The user also expressed optimism for an FDA approval of navenibart. 

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Another user opined that the company must acquire Quoin Pharmaceuticals, whose lead product, QRX003, is intended to treat Netherton syndrome, a rare genetic skin disease. 

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BCRX stock has gained 31% year-to-date. 

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