- After an ~11% decline following the company’s Q3 2022 results, BioCryst Pharmaceuticals ( NASDAQ: BCRX ) rose ~2% pre-market Wednesday as Evercore ISI upgraded the hereditary angioedema (HAE) drugmaker urging investors to buy on the dip.
- With its earnings on Tuesday, BioCryst ( BCRX ) projected $255M net revenue from its HAE therapy Orladeyo for 2022, which fell short of Street forecasts of $256.5M.
- However, raising her recommendation on the biotech to Outperform from Inline, Evercore analyst Liisa Bayko noted that the long-term outlook for Orladeyo remains intact despite short-term “blips” in results.
- Bayko also expects BioCryst ( BCRX ) to reach profitability in about three years, subject to the outcome of a clinical program for an oral Factor D Inhibitor.
- The company expects to share early clinical data for its second oral Factor D inhibitor, BCX10013, from healthy volunteers in Q1 2023.
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BioCryst rebounds as Evercore ISI upgrades after earnings day selloff