BioCryst Pharmaceuticals(BCRX) - 2023 Q2 - Earnings Call Presentation

Financial Performance & Guidance - BioCryst's cash, cash equivalents, restricted cash & investments decreased from $444 million at the end of 2022 to $416 million as of June 30, 2023[9] - The company anticipates ORLADEYO® revenue to be greater than or equal to $320 million for the full year 2023[10] - Operating expenses, excluding non-cash compensation, are projected to be $375 million for 2023[10] Debt Financing - BioCryst secured a $450 million financing agreement with Pharmakon Advisors, with $300 million drawn at issuance[10] - An additional $150 million is available to draw through September 2024[8, 10] - The interest rate is 3-month SOFR + 700%, with a PIK option of +725%[8] - 50% of the interest for the first six quarters can be paid in kind (PIK)[8, 10] - The new terms include no financial covenants, compared to the prior terms which required a minimum liquidity of $15 million[8] ORLADEYO® & Pipeline Updates - A pediatric trial is ongoing to evaluate a new granule formulation of ORLADEYO® for children with HAE aged 2 to under 12[4, 5, 6] - The trial aims to enroll approximately 20 patients across 4 cohorts[6]