BioCryst reports Q2 2026 results, completes navenibart pivotal enrollment
BioCryst posted $218.3 million in total revenue and raised full-year revenue guidance as it finished enrollment in its pivotal navenibart study and began pediatric ORLADEYO pellet shipments.
BioCryst Pharmaceuticals reported second quarter 2026 results on August 5, 2026, covering the period ended June 30, 2026.
On the pipeline side, the company said patient enrollment in ALPHA-ORBIT, the ongoing pivotal study of navenibart in hereditary angioedema, was completed in June.1 Navenibart is an investigational, long-acting plasma kallikrein inhibitor being studied with every three-month and every six-month subcutaneous dosing, and the program remains on track to report top-line results from both doses in Q3 2027.1
The company also disclosed progress on BCX17725, an investigational KLK5 inhibitor for Netherton syndrome, currently in a Phase 1 trial. It said it is dosing patients in "Part 4" of this trial, which is designed to enroll up to 12 patients over three months, with data from that portion expected by the end of 2026.1
On commercial operations, BioCryst said initial shipments of ORLADEYO oral pellets to patients began the week of August 3, marking a new formulation option for pediatric HAE patients.1 It reported 47 prescriptions written year-to-date, with more than half having completed prior authorization and a high approval rate.1
The company also confirmed organizational changes announced in June, saying it will discontinue its internal discovery programs and close its Birmingham research facility by the end of 2026 as part of a shift toward external innovation.1 In July, David W. Jenkins, MA, PhD, was named Chief Scientific Officer as part of that external innovation strategy.1
Financially, total net revenue was $218.3 million and ORLADEYO net revenue was $158.2 million, with operating profit of $98.5 million and non-GAAP operating profit of $113.2 million.1 The company maintained its full-year ORLADEYO revenue guidance of $625 million to $645 million while raising total revenue guidance to $690 million to $715 million.1 BioCryst said it generated positive cash flow even excluding upfront licensing proceeds, ending the quarter with $354.0 million in cash, cash equivalents, restricted cash and investments.1
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