Vish

Vish asked for ORLADEYO expectations for Q1, specifically regarding the progress of the reauthorization process. He also inquired if BioCryst would split its 2026 guidance for US and ex-US contributions, given the EU business sale.

Answer

President and CEO Charlie Gayer advised expecting ORLADEYO revenue to be slightly down in Q1 compared to Q4 due to the reauthorization season, increased free product, and higher co-pay assistance, despite continued patient growth. Chief Financial Officer and Head of Corporate Development Babar Ghias stated that a majority, over 90%, of the 2026 ORLADEYO revenue guidance ($625M-$645M) is expected to come from the U.S. business.

Vish, on behalf of Stacy Ku, asked about ORLADEYO's Q1 expectations, specifically regarding the progress of the reauthorization process and what investors should anticipate. She also inquired if BioCryst would split its 2026 guidance into US and ex-US contributions following the EU business sale.

Answer

President and CEO Charlie Gayer explained that Q1 revenue is expected to be slightly down versus Q4 due to the reauthorization season, increased free product, and higher co-pay percentages, despite continued patient growth. Chief Financial Officer and Head of Corporate Development Babar Ghias clarified that a majority (over 90%) of the 2026 ORLADEYO revenue guidance ($625M-$645M) would come from the US business, with the European business having been loss-making.