BCRX - Why BioCryst Pharmaceuticals Vaulted Nearly 20% Higher on Monday
2024-05-06 18:47:50 ET
For the most part, U.S. stocks had a good Monday, with the bellwether S&P 500 index confidently marching more than 1% higher. But BioCryst Pharmaceuticals (NASDAQ: BCRX) and its investors had a really good day, as the company delivered a first quarter that convincingly beat analyst estimates.
The market rewarded this performance by pushing BioCryst's share price more than 18% higher on the day.
BioCryst showed some solid growth numbers in that earnings report. For the quarter, it earned just under $93 million in total revenue, which was nearly 35% higher on a year-over-year basis. In terms of debits from the profit and loss statement, the pharmaceutical company managed to shave its all-important research and development expenses by almost $2 million thanks to discontinuations and out-licensing activities with several pipeline drugs.
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Why BioCryst Pharmaceuticals Vaulted Nearly 20% Higher on Monday