BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) Q2 2023 Earnings Call Transcript

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Operator: Our next question comes from [indiscernible] with Barclays. Please go ahead.

Unidentified Analyst: Sorry, I think this is Tony [ph] on for Gena Wang. A quick question on kind of on 1013, what initial data would warrant, potentially further development and what could we maybe expect to see at R&D Day on this or even further new pipeline assets.

Helen Thackray: Yeah, okay, so, with 1013 what we are looking for something that’s really quite straightforward and I think we’ll be quite clear. We’re looking for data to show. That we’re seeing the activity levels we need to see in clinical outcomes that we’re looking for in patients and we’re looking for that in a manner that’s also safe. So it’s fairly simple, we’re looking for safety and efficacy that’s as good or better than what is available to patients and we’re looking for that then with once daily dosing. Once we see that and have selected the dose for program that’s the point of which we’ve been making the decision to further invest and then state pivotal trials. In terms of R&D Day, we’ll update across the pipeline.

Here we have a number of things that we’ve been working on and I am really excited and pleased with what’s been happening in the discovery in early programs in Birmingham and within the co company. So it’s some breadths and depths of the pipeline that we’ll be discussing there.

Jon Stonehouse: Yeah and then I double will there be any new information on 1013 at that point, this will be stuff you’ve not heard of before.

Unidentified Analyst: Okay, got it very helpful and then I guess another quick one on ORLADEYO launch and there has been a lot of questions already. Is there anything that could lead to sales kind of exceeding guidance for 320 either in terms of the retention rate or new patients or patients switching.

Jon Stonehouse: We’re really confident in the 320 number and based on what we’re seeing, I think that’s what you should expect for this year. So consistent patient growth, incremental progress on getting patients over the paid therapy and that same pattern that I described earlier about patient retention to get us to 310 and then the continued growth outside of the US that’s what will get us to the 320.

Operator: Our final question comes from Maury Raycroft with Jefferies. Please go ahead.

Unidentified Analyst: Hi. Good morning. This is Young [ph] for Maury. Thanks for taking our questions. Congrats on a good quarter. I guess our first question is on the Q2 revenue growth. You’re saying for the rest of the year that revenue growth is going to be more steady. From last year we saw there was a bit of confounding factor from the force July holiday ordering that affected the relative growth rate of Q3 and Q4. How should we think about the effect this year?

Charlie Gayer: So Q3 and Q4 will not be as big a jump in revenue as Q2 because Q2 is driven by the patient growth but also all the factors coming out of the Q1 reauthorization process. So as Anthony described in his comments, we should average about $85.5 million for the — a little bit less than that in Q3 a little bit more in Q4 to get to the 320. For the July 04, yeah so July 04 was on a Tuesday this year. So there was a day or two of shipments that came into June and that was part of our expectation this year. We saw that happened last year and so we built that into our plan and just as a reminder for everyone in the US we have a sole source specially pharmacy. So this is all based on individual patient demand and there are a lot of patients going away for the 4th of July holiday and so around times like that you will see a little bit of a pull forward, but it’s usually just a day or two of shipments.

Unidentified Analyst: I see. Maybe just a quick one on C1 normal patients, we thought some data on ORLADEYO successfully managing C1 normal patients earlier this year and the [indiscernible]. I’m just wondering if you’re sharing any insights into how you’re seeing in real world, how patients with C1 normal profile, like how many of them are on the therapy, if you see anything about retention rate and that’s right.

Charlie Gayer: Yeah we haven’t shared the number other than what you saw on that the [indiscernible] poster, in terms of the proportion of our business. But we do get seen one normal patients. So I think all the prophylaxis products are seeing C1 normal patients. These are patients who have really struggled for a number of years. It’s been — their diagnosis isn’t as clear cut as Type 1 and Type 2 and so they’ve looked for therapies that work and what we’re seeing for a lot of them is that ORLADEYO is really helping them and so we’re seeing consistent reduction in attack rates and patient reported attack rates. And from a retention perspective, we’re seeing just about as good retention with C1 normal patients as we are with Type 1 and Type 2 patients. And so, you can expect more data from us on this in the future, but right now what we’re seeing is we’re very pleased in what we can help these patients.

Unidentified Analyst: Got it. Thanks so much. Congrats again.

Operator: This concludes our question-and-answer session and with that the conference has now concluded. Thank you for attending today’s presentation. You made out disconnect.

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