Benzinga | May 6, 2021 12:32PM EDT

BioCryst Shares Trading Higher As Q1 Sales Beat Was Supported By Orladeyo Revenues

* BioCryst Pharmaceuticals Inc (NASDAQ: BCRX) reported a first-quarter loss of $0.36, wider than the consensus loss of $0.27 and deeper than the EPS loss of $0.24 reported a year ago mainly driven by higher expenses.

* The company's Q1 sales of $19.10 million beat the consensus estimate of $8.89 million, compared to $4.8 million posted in Q1 of 2020.

* The increase was primarily due to $10.9 million in Orladeyo net revenue generated in the quarter.

* R&D expenses increased around 42% Y/Y to $42.4 million, primarily due to increased investment in the development of BCX9930, its oral Factor D inhibitor for the treatment of paroxysmal nocturnal hemoglobinuria.

* SG&A reached $22.1 million up 39% Y/Y due to higher investment to support the U.S. commercial launch of Orladeyo and expanded international operations.

* Q1 cash and equivalents totaled $244.4 million are expected to support operations into 2023.

* The company did not provide specific revenue or operating expense guidance.

* Price Action: BCRX shares rose 21.1% at $12.93 in the market trading hours on the last check Thursday.