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BioCryst Pharmaceuticals BCRX Research and Development — Collaboration revenue

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ZYMEMilestone revenue — Research and development collaborations
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ZYMERoyalties — Research and development collaborations
$1.59M+189%
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ZYMEDevelopment support payments — Research and development collaborations
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KOPNResearch And Development Revenues — Revenue
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ZYMEResearch Milestone — Research and development collaborations (note 11)
$8.75M

Other financials

Income statement

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Revenue$218.3M+33.6%
Gross profit$214.4M+33.5%
Operating income$98.5M+231%
Net income$78.4M+1,442%
EPS (diluted)$0.30+1,400%

Balance sheet

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Cash & equivalents$156.4M+73.9%
Total debt$410.9M+59.9%
Total equity-$454.3M-7.8%
Total assets$557.9M+22.0%

Cash flow

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Operating cash flow$104.3M+153%
CapEx$209.0K+16.8%
Free cash flow$104.1M+153%

Valuation

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Market cap$2.31B+27.7%
Enterprise value$2.56B+29.8%
P/S2.5×-0.8×

Profitability

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Gross margin97.8%+0.8pp
Operating margin-33.3%-43.0pp
Net margin-40.9%-50.2pp
FCF margin39.7%

Returns & leverage

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Return on equity-882.8%
Debt / equity0.1×
Current ratio2.3×+0.1×

Where this comes from

Reported directly by BioCryst Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: BioCryst Pharmaceuticals’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:04 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053300

Revenue allocated to the license was recognized upon execution of the Neopharmed License Agreement, when control of the Navenibart Licensed Product in Europe transferred to Neopharmed. Revenue allocated to the research and development services is recognized over time using an input method based on costs incurred. During the three and six months ended June 30, 2026, the Company recognized $55,729 of revenue, comprised of $54,513 related to the delivery of the license and $1,216 related to the performance of research and development services in license and other revenues in the Condensed Consolidated Statements of Comprehensive Income (Loss). As of June 30, 2026, the deferred revenue related to the upfront payment was $14,271, of which $7,469 is classified as current and $6,802 is classified as non-current in the Condensed Consolidated Balance Sheet.

Item 1. Financial Statements (Unaudited):

FAQ

What is BioCryst Pharmaceuticals's research and development — collaboration revenue?
BioCryst Pharmaceuticals (BCRX) reported research and development — collaboration revenue of $1.22M in Q2 2026.
What does research and development — collaboration revenue mean?
This metric represents revenue generated through strategic partnerships, licensing agreements, or joint research initiatives where the company provides specialized R&D services or intellectual property access to third parties. It reflects the company's ability to monetize its scientific platform and drug discovery capabilities before a product reaches commercial maturity. This revenue stream is a key indicator of the value placed on the company's proprietary research pipeline by industry peers and partners.

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