BioCryst Pharmaceuticals Inc
BCRXHealthcare|Drug Manufacturers - Specialty & Generic|USA
$10.45
-0.27 (-2.52%)
Financials
Financial Snapshot
Market Cap
$2.66B
Enterprise Value
$-579.4M
Revenue (TTM)
$885.7M
Net Income (TTM)
$-458.0M
Cash & Equivalents
—
Net Cash/Share
$-3.07
Free Cash Flow (TTM)
$310.4M
Operating CF (TTM)
$313.1M
Debt/Equity
-1.48
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $54.6M | $114.4M | $104.5M | $136.2M | $300.4M | $507.6M | $424.3M | $389.0M | $320.9M | $274.7M | $238.4M | |
| Operating Cash Flow | $-53.4M | $-41.1M | $-92.6M | $-89.6M | $-135.1M | $-142.2M | $-161.8M | $-95.1M | $-52.0M | $347.4M | $313.1M | |
| Free Cash Flow | $-58.7M | $-41.5M | $-92.9M | $-89.9M | $-135.6M | $-144.5M | $-163.2M | $-97.3M | $-53.1M | $344.9M | $310.4M | |
| Capital Expenditure | $-5.3M | $-328.0K | $-366.0K | $-343.0K | $-514.0K | $-2.4M | $-1.4M | $-2.2M | $-1.1M | $-2.5M | $-2.7M | |
| Financing Cash Flow | $23.3M | $135.7M | $62.5M | $99.1M | $300.6M | $359.7M | $88.0M | $32.5M | $-5.8M | $-349.9M | $62.1M |
R&D Spending
R&D (TTM)
$886.9M
R&D Intensity
100.1%
R&D Growth YoY
+433.9%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.4M | $25.2M | $20.7M | $48.8M | $17.8M | $157.2M | $270.8M | $331.4M | $450.7M | $874.8M | $885.7M | |
| R&D Expense | $61.0M | $67.0M | $84.9M | $107.1M | $123.0M | $208.8M | $253.3M | $216.6M | $174.6M | $166.1M | $886.9M | |
| R&D % of Revenue | 231.5% | 265.9% | 411.0% | 219.2% | 690.3% | 132.9% | 93.5% | 65.3% | 38.7% | 19.0% | 100.1% | |
| SG&A | $11.3M | $13.9M | $29.5M | $37.1M | $67.9M | $118.8M | $159.4M | $214.1M | $266.3M | $348.6M | $360.7M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.4M | $25.2M | $20.7M | $48.8M | $17.8M | $157.2M | $270.8M | $331.4M | $450.7M | $874.8M | $885.7M | |
| Cost of Goods Sold | $2.7M | $1.7M | $471.0K | $4.1M | $1.7M | $7.3M | $6.6M | $4.5M | $12.3M | $19.1M | $19.9M | |
| Gross Profit | $23.7M | $23.5M | $20.2M | $44.7M | $16.1M | $149.9M | $264.2M | $326.9M | $438.4M | $855.8M | $865.8M | |
| R&D | $61.0M | $67.0M | $84.9M | $107.1M | $123.0M | $208.8M | $253.3M | $216.6M | $174.6M | $166.1M | $886.9M | |
| SG&A | $11.3M | $13.9M | $29.5M | $37.1M | $67.9M | $118.8M | $159.4M | $214.1M | $266.3M | $348.6M | $360.7M | |
| Operating Income | $-48.6M | $-57.4M | $-94.2M | $-99.5M | $-174.8M | $-177.7M | $-148.4M | $-103.7M | $-2.5M | $341.0M | $-381.8M | |
| Interest Expense | $-6.5M | $-8.6M | $-9.2M | $-11.9M | $-14.5M | $-59.3M | $-99.1M | $-108.2M | $-98.5M | $-78.9M | $-75.2M | |
| Pretax Income | $-55.1M | $-65.8M | $-101.3M | $-108.9M | $-182.8M | $-181.8M | $-244.4M | $-226.2M | $-87.0M | $267.4M | $-454.2M | |
| Net Income | $-55.1M | $-65.8M | $-101.3M | $-108.9M | $-182.8M | $-184.1M | $-247.1M | $-226.5M | $-88.9M | $263.9M | $-458.0M | |
| EPS (Diluted) | -0.75 | -0.78 | -0.98 | -0.94 | -1.09 | -1.03 | -1.33 | -1.18 | -0.43 | 1.21 | -1.78 | |
| EBITDA | $-48.2M | $-56.5M | $-91.3M | $-96.3M | $-167.6M | $-121.7M | $-143.9M | $-116.3M | $12.8M | $347.7M | $-377.5M | |
| Shares Out. (M) | 73.70 | 84.45 | 103.19 | 115.60 | 167.27 | 179.12 | 185.91 | 192.20 | 206.70 | 218.58 | 242.26 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $22.1M | $50.3M | $26.7M | $114.2M | $272.1M | $504.4M | $304.8M | $110.6M | $104.7M | $89.7M | $171.6M | |
| Marketable Securities | $32.5M | $64.1M | $77.7M | $22.1M | $28.2M | $3.2M | $119.5M | $278.3M | $216.1M | $185.0M | $66.8M | |
| Total Current Assets | $67.0M | $125.4M | $114.4M | $164.3M | $323.8M | $566.1M | $516.5M | $496.0M | $422.0M | $404.3M | $373.6M | |
| Total Assets | $89.8M | $178.3M | $146.8M | $175.3M | $334.7M | $588.2M | $550.0M | $517.0M | $490.4M | $514.2M | $465.1M | |
| Total Current Liabilities | $54.4M | $74.8M | $69.5M | $92.3M | $105.7M | $103.7M | $105.5M | $150.0M | $160.4M | $196.1M | $195.4M | |
| Long-Term Debt | $22.8M | $16.8M | $25.4M | $41.3M | $244.5M | $585.5M | $733.3M | $811.3M | $795.9M | $427.2M | $802.4M | |
| Total Liabilities | $88.3M | $94.5M | $97.6M | $137.0M | $354.0M | $695.1M | $844.6M | $972.5M | $966.4M | $633.3M | $1.02B | |
| Stockholders' Equity | $1.6M | $83.8M | $49.2M | $38.3M | $-19.3M | $-107.0M | $-294.6M | $-455.5M | $-475.9M | $-119.2M | $-553.8M | |
| Retained Earnings | $-566.1M | $-631.8M | $-732.0M | $-840.6M | $-1.02B | $-1.21B | $-1.45B | $-1.68B | $-1.77B | $-1.51B | $-2.23B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-53.4M | $-41.1M | $-92.6M | $-89.6M | $-135.1M | $-142.2M | $-161.8M | $-95.1M | $-52.0M | $347.4M | $313.1M | |
| Capital Expenditure | $-5.3M | $-328.0K | $-366.0K | $-343.0K | $-514.0K | $-2.4M | $-1.4M | $-2.2M | $-1.1M | $-2.5M | $-2.7M | |
| Free Cash Flow | $-58.7M | $-41.5M | $-92.9M | $-89.9M | $-135.6M | $-144.5M | $-163.2M | $-97.3M | $-53.1M | $344.9M | $310.4M | |
| Investing Cash Flow | $23.3M | $-64.6M | $4.8M | $77.9M | $-6.9M | $15.8M | $-128.2M | $-131.5M | $52.6M | $-13.7M | $-309.4M | |
| Financing Cash Flow | $23.3M | $135.7M | $62.5M | $99.1M | $300.6M | $359.7M | $88.0M | $32.5M | $-5.8M | $-349.9M | $62.1M | |
| Issuance of Stock | $0.00 | $134.0M | $53.4M | $58.5M | $93.3M | $50.1M | $190.0K | $342.0K | $34.0K | $59.0K | $86.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $23.0M | $122.0K | $10.4M | $19.5M | $119.9M | $293.9M | $73.1M | $300.0M | $0.00 | $0.00 | $400.0M | |
| Payments of Debt | $0.00 | $0.00 | $-4.1M | $0.00 | $-52.4M | $0.00 | $0.00 | $-241.6M | $-1.7M | $-302.0M | $-301.8M | |
| Stock Based Comp. | $8.5M | $12.6M | $9.4M | $17.7M | $14.8M | $34.6M | $44.7M | $55.6M | $65.4M | $85.1M | $79.7M | |
| Net Change in Cash | $-6.9M | $29.9M | $-25.3M | $87.4M | $158.6M | $233.4M | $-201.5M | $-193.8M | $-6.1M | $-15.0M | $66.5M |
Dilution Tracker
Shares outstanding grew 35.3% over 5 years — significant dilution
Shares Outstanding
242M
5-Year Share Growth
+35.3%
Stock Issuance (TTM)
$86.0K
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 73.70 | 84.45 | 103.19 | 115.60 | 167.27 | 179.12 | 185.91 | 192.20 | 206.70 | 218.58 | 242.26 | |
| YoY Change % | — | 14.6% | 22.2% | 12.0% | 44.7% | 7.1% | 3.8% | 3.4% | 7.5% | 5.7% | 10.8% | |
| Stock Issuance | $0.00 | $134.0M | $53.4M | $58.5M | $93.3M | $50.1M | $190.0K | $342.0K | $34.0K | $59.0K | $86.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $8.5M | $12.6M | $9.4M | $17.7M | $14.8M | $34.6M | $44.7M | $55.6M | $65.4M | $85.1M | $79.7M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 89.8% | 93.2% | 97.7% | 91.6% | 90.6% | 95.4% | 97.6% | 98.6% | 97.3% | 97.8% | 97.8% | |
| Operating Margin % | -184.4% | -227.9% | -456.2% | -203.7% | -981.1% | -113.1% | -54.8% | -31.3% | -0.6% | 39.0% | -43.1% | |
| Net Margin % | -209.3% | -261.2% | -490.3% | -223.0% | -1026.4% | -117.1% | -91.2% | -68.4% | -19.7% | 30.2% | -51.7% | |
| EBITDA Margin % | -182.8% | -224.4% | -442.1% | -197.2% | -940.7% | -77.5% | -53.1% | -35.1% | 2.8% | 39.7% | -42.6% | |
| FCF Margin % | -222.8% | -164.7% | -450.0% | -184.1% | -761.4% | -92.0% | -60.3% | -29.4% | -11.8% | 39.4% | 35.0% | |
| ROE % | -223.7% | -154.2% | -152.3% | -248.9% | -1925.4% | 0.0% | 0.0% | 0.0% | 0.0% | Negative Equity | 0.0% | |
| ROA % | -52.0% | -49.1% | -62.3% | -67.6% | -71.7% | -39.9% | -43.4% | -42.5% | -17.6% | 52.5% | -96.9% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / 6.21 / 8.08
Industry Med.20.77
P/S2.63
Historical1.60 / 11.79 / 123.74
Industry Med.2.30
P/B—
Historical4.32 / 16.04 / 422.86
Industry Med.1.91
EV/EBITDA-8.57
Historical-92.20 / -9.38 / 187.22
Industry Med.12.99
EV/Revenue3.65
Historical1.79 / 11.56 / 130.16
Industry Med.2.45
P/FCF7.25
Historical4.06 / 7.08 / 125.92
Industry Med.20.81
Intrinsic Value Models
Median P/S Value
$48.18
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | 6.45 | At Loss | |
| PS Ratio | 17.68 | 16.48 | 40.35 | 8.18 | 70.28 | 15.79 | 7.88 | 3.47 | 3.45 | 1.95 | 2.63 | |
| PB Ratio | 301.43 | 5.77 | 18.05 | 13.91 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| EV/EBITDA | -9.68 | -7.49 | -9.26 | -4.99 | -7.74 | -21.68 | -17.20 | -14.34 | 160.54 | 5.25 | -8.57 | |
| EV/Revenue | 17.69 | 16.82 | 40.94 | 9.83 | 72.81 | 16.79 | 9.14 | 5.04 | 4.56 | 2.09 | 3.65 |
Analyst Estimates & Quality
Altman Z-Score
-5.47
Distress
Piotroski F-Score
4
Moderate
Beneish M-Score
-9.63
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $669.4M | $726.0M | $830.3M |
| Net Income | $-642.2M | $132.2M | $141.1M |
| EPS | -2.55 | 0.56 | 0.66 |
| Book Value per Share | 0.57 | 1.53 | 0.00 |
| Operating Cash Flow per Share | 0.92 | 1.03 | 0.00 |
| Operating CF | $222.88M | $249.53M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Single Segment | $874.8M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $874.8M |