BCRX

MKT CAP:$2B

BioCryst Pharmaceuticals, Inc.

Market Cap

$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$8.76+$1.26 (+16.80%)

Apr 23, 2026

Company Details

BioCryst Pharmaceuticals, Inc., a biotechnology company, discovers novel, oral, and small-molecule medicines. The company markets peramivir injection, an intravenous neuraminidase inhibitor for the treatment of acute uncomplicated influenza...

CEO

Charles K. Gayer

IPO Date

Mar 4, 1994

Website

www.biocryst.com

Key Metrics TTM

Revenue

$600M

+45.4% YoY

Net Income

-$9M

EPS (Diluted)

-$0.05

Free Cash Flow

$47M

Revenue / Share

$2.73

Gross Margin

97.3%

Operating Margin

12.7%

Net Margin

-1.5%

FCF Margin

7.9%

P/S

3.1x

P/E

—

Earnings Reports

Q4 2025

May 4, 2026

PENDING

FY 2025

Feb 26, 2026

$875M+94.1%EPS $1.21

Q3 2025

Nov 4, 2025

$159M+36.1%EPS $0.06

Q2 2025

Aug 5, 2025

$163M+49.4%EPS $0.02

Q1 2025

May 6, 2025

$146M+56.9%EPS $0.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$47M	$47M	-$52M
Q1 22	$50M	$50M	-$50M
Q2 22	$66M	$65M	-$35M
Q3 22	$76M	$72M	-$17M
Q4 22	$80M	$77M	-$46M
Q1 23	$69M	$68M	-$28M
Q2 23	$82M	$82M	-$21M
Q3 23	$87M	$86M	-$12M
Q4 23	$93M	$92M	-$43M
Q1 24	$93M	$91M	-$14M
Q2 24	$109M	$108M	$9M
Q3 24	$117M	$114M	$8M
Q4 24	$132M	$125M	-$5M
Q1 25	$146M	$141M	$21M
Q2 25	$163M	$161M	$30M
Q3 25	$159M	$157M	$30M

Valuation

Quarter	P/S	P/E
Q4 21	16.6x	—
Q1 22	15.9x	—
Q2 22	9.8x	—
Q3 22	10.0x	—
Q4 22	7.4x	—
Q1 23	5.5x	—
Q2 23	4.4x	—
Q3 23	4.3x	—
Q4 23	4.8x	—
Q1 24	2.9x	—
Q2 24	3.6x	—
Q3 24	3.8x	—
Q4 24	3.5x	—
Q1 25	3.1x	—
Q2 25	3.4x	—
Q3 25	2.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$32M	-$34M
Q1 22	-$78M	-$78M
Q2 22	-$28M	-$28M
Q3 22	-$32M	-$33M
Q4 22	-$24M	-$24M
Q1 23	-$48M	-$48M
Q2 23	-$19M	-$19M
Q3 23	-$20M	-$21M
Q4 23	-$9M	-$9M
Q1 24	-$54M	-$54M
Q2 24	-$1M	-$2M
Q3 24	$8M	$8M
Q4 24	-$5M	-$6M
Q1 25	-$28M	-$28M
Q2 25	$41M	$41M
Q3 25	$41M	$40M

Capital Expenditures

Quarter	CapEx
Q4 21	$1M
Q1 22	$406.0K
Q2 22	$244.0K
Q3 22	$175.0K
Q4 22	$526.0K
Q1 23	$160.0K
Q2 23	$467.0K
Q3 23	$987.0K
Q4 23	$554.0K
Q1 24	$235.0K
Q2 24	$155.0K
Q3 24	$59.0K
Q4 24	$675.0K
Q1 25	$143.0K
Q2 25	$179.0K
Q3 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+1074.3%	+76.1%
Q1 22	+161.9%	+41.8%
Q2 22	+31.2%	+26.0%
Q3 22	+85.0%	+9.0%
Q4 22	+68.7%	+26.7%
Q1 23	+37.8%	-2.7%
Q2 23	+25.9%	+2.9%
Q3 23	+14.4%	+5.8%
Q4 23	+17.4%	+8.1%
Q1 24	+34.9%	+10.3%
Q2 24	+32.5%	-2.5%
Q3 24	+35.0%	+10.9%
Q4 24	+40.8%	-0.0%
Q1 25	+56.9%	+15.9%
Q2 25	+49.4%	+32.8%
Q3 25	+36.1%	+18.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$9M	18.0%
Q1 22	$10M	19.2%
Q2 22	$10M	15.1%
Q3 22	$10M	13.1%
Q4 22	$0	0.0%
Q1 23	$14M	20.4%
Q2 23	$13M	15.6%
Q3 23	$12M	14.2%
Q4 23	$16M	17.7%
Q1 24	$14M	14.7%
Q2 24	$13M	12.0%
Q3 24	$17M	14.7%
Q4 24	$21M	16.2%
Q1 25	$21M	14.7%
Q2 25	$21M	13.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$64M	$34M	$1M	—
Q1 22	$65M	$30M	$4M	—
Q2 22	$62M	$34M	$4M	—
Q3 22	$53M	—	—	$37M
Q4 22	$73M	—	—	$50M
Q1 23	$48M	—	—	$48M
Q2 23	$51M	—	—	$51M
Q3 23	$47M	—	—	$51M
Q4 23	$70M	—	—	$64M
Q1 24	$46M	—	—	$59M
Q2 24	$38M	—	—	$61M
Q3 24	$41M	—	—	$65M
Q4 24	$49M	—	—	$80M
Q1 25	$37M	—	—	$82M
Q2 25	$43M	—	—	$87M
Q3 25	$44M	—	—	$83M

Revenue Segments

Quarter	Collaborative and Other Research and Development	Product	Royalty	Collaborative And Other Research And Development
Q2 22	$104.0K	$65M	$540.0K	—
Q3 22	$14.0K	$75M	$600.0K	—
Q4 22	—	$78M	$1M	$66.0K
Q3 23	$1M	$85M	—	—
Q1 24	$3M	$89M	—	—
Q2 24	$1M	$108M	—	—
Q3 24	$1M	$116M	—	—
Q1 25	$2M	$144M	—	—
Q2 25	$923.0K	$162M	—	—
Q3 25	$2M	$158M	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$396M	$48M	$443M
Q2 22	$273M	$145M	$417M
Q3 22	$247M	$180M	$427M
Q4 22	$305M	$120M	$424M
Q1 23	$155M	$243M	$398M
Q2 23	$146M	$264M	$411M
Q3 23	$151M	$247M	$398M
Q4 23	$111M	$278M	$389M
Q1 24	$84M	$252M	$337M
Q2 24	$78M	$194M	$272M
Q3 24	$98M	$233M	$331M
Q4 24	$105M	$216M	$321M
Q1 25	$105M	$190M	$295M
Q2 25	$88M	$172M	$260M
Q3 25	$84M	$129M	$213M
Q4 25	$90M	$185M	$275M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	182M	+1.5%	+3.0%
Q1 22	185M	+1.7%	+4.3%
Q2 22	186M	+0.4%	+4.2%
Q3 22	186M	+0.3%	+3.9%
Q4 22	187M	+0.4%	+2.8%
Q1 23	189M	+0.8%	+2.0%
Q2 23	189M	+0.3%	+1.9%
Q3 23	190M	+0.3%	+1.9%
Q4 23	201M	+6.2%	+7.8%
Q1 24	206M	+2.3%	+9.3%
Q2 24	206M	+0.2%	+9.2%
Q3 24	207M	+0.2%	+9.1%
Q4 24	207M	+0.2%	+3.0%
Q1 25	215M	+3.8%	+4.5%
Q2 25	220M	+2.1%	+6.5%
Q3 25	220M	-0.0%	+6.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$131.7K	358
Q1 22	$139.4K	358
Q2 22	$183.1K	358
Q3 22	$211.8K	358
Q4 22	$149.8K	531
Q1 23	$129.5K	531
Q2 23	$155.4K	531
Q3 23	$163.4K	531
Q4 23	$174.3K	536
Q1 24	$173.1K	536
Q2 24	$204.0K	536
Q3 24	$218.4K	536
Q4 24	$226.8K	580
Q1 25	$250.9K	580
Q2 25	$281.6K	580
Q3 25	$274.8K	580

Revenue / Employee