BioCryst Pharmaceuticals Sells European ORLADEYO Business for Up to $264M

BioCryst Pharmaceutical Inc. (NASDAQ:BCRX) is one of the best high short interest stocks with huge upside potential. On June 27, BioCryst Pharmaceuticals announced a definitive agreement to sell its European ORLADEYO (berotralstat) business to Neopharmed Gentili for a total consideration of up to $264 million.

The amount includes an upfront payment of $250 million for the European assets and rights related to ORLADEYO, along with up to an additional $14 million in future milestones contingent on sales in Central and Eastern Europe. The closing of this transaction is anticipated by early October this year. BioCryst plans to utilize the proceeds from this sale to retire all remaining term debt, amounting to $249 million from Pharmakon.

BioCryst Pharmaceuticals Sells European ORLADEYO Business for Up to $264M

A scientist in a lab coat observing a line of medicine pills in a container.

This is expected to eliminate ~$70 million in future interest payments over the remaining life of the loan. Consequently, BioCryst projects to end 2027 with ~$700 million in cash and no term debt, representing an increase of $400 million compared to its previous net cash guidance for 2027. The acquisition by Neopharmed Gentili also involves taking over BioCryst’s European organization, which is expected to result in at least $50 million in annual operating expense savings for BioCryst.

BioCryst Pharmaceutical Inc. (NASDAQ:BCRX) is a biotechnology company that develops oral small-molecule and injectable protein therapeutics to treat rare diseases. Neopharmed Gentili is a pharmaceutical company founded in Italy.

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Disclosure: None. This article is originally published at Insider Monkey.