BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) Q4 2022 Earnings Call Transcript

Ken Cacciatore: Hey, team. Good morning. Obviously, it’s been a fantastic launch of ORLADEYO, you set up a great U.S. commercial infrastructure that would seemingly be attractive to many companies either don’t have a U.S. infrastructure would want some further leverage I’m guessing, just looking at the P&L, the product is now profitable, which is a credit to the organization, excluding R&D, and you did it fast. So just €“ we often €“ we rarely, I should say, see such a gap between a profitable product and kind of pipeline replenishment. Just wondering how you all think about maximizing the value of this which is €“ grow a little bit now, unfortunately, over time here, kind of an organization, a little bit in two separate world. Can you just talk about that, how you think about maximizing that value and maybe kind of just strategically what you all are thinking? Thanks so much.

Jon Stonehouse: Yes. Thanks, Ken. We agree with you that it’s off to a fantastic launch and have a real high degree of confidence that we’re getting to the $1 billion in peak sales, and we’re on that trajectory. So and that it’s €“ on a stand-alone basis, it’s profitable today. And I even said in my prepared remarks that with the investments that we’re making, we’re getting closer to profitability because revenue is growing faster than expense basically. So anyway, I think we’re always looking €“ the goal here is to have a second product that’s as big or bigger than ORLADEYO. That may take us longer with our pipeline. And so we’re also evaluating BD activities as well. We brought Clayton Fletcher on Board recently, who’s a very experienced biotech BD person.

And we’re probably getting more inbound stuff than we ever have in the history of BioCryst so. So we will continue to evaluate that stuff you want to make sure that if you’re bringing something in, it’s something that can create real value. And so we’re constantly looking at that as well.

Ken Cacciatore: Thank you.

Jon Stonehouse: Welcome.

Operator: The next question comes from Justin Kim of Oppenheimer. Please go ahead.

Justin Kim: Hi, good morning. Thanks for taking the question. Just with the upcoming Quad AI meeting and based on the recent commercial progress, is there anything that needs to be better clarified with the prescriber base in attendance. Just wondering sort of what your goals are? And any changes in the dynamic of where new scripts are coming from, either from a patient perspective or a clinician.

Charlie Gayer: Hi, Justin. So I think as far as clarify, we’re just continuing the messages that we’ve been delivering about how well ORLADEYO is working in patients particularly over the long-term, you look at our long-term data or 96-week data where patients were getting down to 16 out of 17 months attack-free what we will see at Quad AI is more data of the same coming out from our clinical trials that confirm that. And so it’s really just about getting to all these physicians and showing them how well or day at work posting clinical trials and then now how well is working in the real world. And then how well it works regardless of where patients are coming from. So some of the patients who do absolutely the best in ORLADEYO are those who switch from other prophylaxis products that were already stable on those other products to switch to ORLADEYO, and they continue to do really well with very good control.

So that’s €“ it’s sort of a long-term building of that. And there are lots of doctors who already get that. And then there are others who just haven’t absorbed that message yet, and we’re confident that we’re going to get to them as well.