Why BioCryst Pharmaceuticals Stock Is Falling Today
BioCryst Pharmaceuticals (NASDAQ: BCRX) stock is dropping sharply on Thursday after the biotech company reported disappointing fourth-quarter financial results. BioCryst's shares were down by 8.4% as of 1:53 p.m. EST.
BioCryst's total revenue for the fourth quarter ending Dec. 31 was roughly $4 million, down from the $39.7 million in revenue recorded during the year-ago period. In the fourth quarter of 2019, the company recognized a one-time revenue of $20.1 million, and it also reported $13.9 million in revenue from the sale of flu medicine Rapivab under a contract with the U.S. Department of Health and Human Services. During Q4 2020, BioCryst did not record any sales from Rapivab; these factors help explain the year-over-year decrease in the company's top line.
Image source: Getty Images.
Source Fool.com
