Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Biocryst Pharmaceuticals Inc.BCRX · healthcare | |
|---|---|
| Grade |  Bsecond fifth of 371 graded peers; percentile 36.2, sampling error 2.5 points; lower is stronger |
| Rank | 135 of 371 |
| Profitability | Apercentile 13.9 |
| Solvency | Dpercentile 65.8 |
| Growth and financing | Cpercentile 52.2 |
| Reliability | 0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025 |
| Peer failure rate | 1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $120M to $591M assetstotal assets $514.2M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none active · fortress balance sheet |
| Inputs computable | 10 of 14 |
| Graded from | filings received through Feb 26, 2026225 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $8.292026-10-08; market equity $2.1B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 26, 2026; the document on sec.gov.
We are a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema (“HAE”) and other rare diseases, driven by our deep commitment to improving the lives of people living with these conditions. We have built a robust commercial infrastructure to support the successful commercialization of ORLADEYO, an oral, once-daily therapy discovered and developed internally for the prevention of HAE attacks.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 13.9 | |||||||
| Gross profitability | 166.4% | [1-2,5] | 32.2% | 1.1 | 372 | 2025-12-31 | |
| Return on invested capital | not computable | 9.3% | |||||
| prior invested-capital observation is 731 days earlier | |||||||
| Accruals ratio | (16.6%) | [1,6-8] | (6.6%) | 26.7 | 811 | 2025-12-31 | |
| Gross margin stability, five years | 1.1 pts | [2,5,9-16] | 2.8 pts | 14.0 | 243 | 2025-12-31 | |
| Solvency, sleeve percentile 65.8 | |||||||
| Twelve-month failure probability | 0.38% | 0.07% | 78.9 | 248 | 2026-06-30 | ||
| Altman Z double-prime | (2.63) | [1,17-22] | (0.31) | 47.8 | 756 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.82x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | not computable | (4.51x) | |||||
| latest aligned inputs end 2023-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 2.06x | [17-18] | 2.96x | 70.8 | 839 | 2025-12-31 | |
| Growth and financing, sleeve percentile 52.2 | |||||||
| Revenue growth, three-year compound | 47.8% | [2,9,11,13] | 10.0% | 14.3 | 415 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 10.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | (15.5%) | [17-18,20,23-28] | 37.1% | 77.7 | 104 | 2025-12-31 | |
| Asset growth, three years | (2.2%) | [1,8,29-30] | 2.1% | 56.8 | 704 | 2025-12-31 | |
| Net share issuance, one year | 20.0% | [31-32] | 2.5% | 60.2 | 634 | 2026-02-20 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.140; sampling error 2.5 percentile points on 371 peers.
Among 371 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 130 | Glaukos Corp. (GKOS) Glaukos Corp. (GKOS) Bsecond fifth; percentile 34.9 NYSE · Surgical & Medical Instruments & Apparatus market equity $9.5B; last close $161.17 Warnings: fortress balance sheet; 8 of 14 inputs | 34.9 | B | fortress balance sheet |
| 131 | Fitlife Brands, Inc. (FTLF) Fitlife Brands, Inc. (FTLF) Bsecond fifth; percentile 35.1 Nasdaq · Medicinal Chemicals & Botanical Products market equity $81.7M; last close $8.56 No active warnings; 8 of 14 inputs | 35.1 | B | |
| 132 | Insmed Inc. (INSM) Insmed Inc. (INSM) Bsecond fifth; percentile 35.4 Nasdaq · Pharmaceutical Preparations market equity $21.9B; last close $100.57 No active warnings; 10 of 14 inputs | 35.4 | B | |
| 133 | Establishment Labs Holdings Inc. (ESTA) Establishment Labs Holdings Inc. (ESTA) Bsecond fifth; percentile 35.7 Nasdaq · Orthopedic, Prosthetic & Surgical Appliances & Supplies market equity $1.8B; last close $60.54 Warnings: fortress balance sheet; 8 of 14 inputs | 35.7 | B | fortress balance sheet |
| 134 | Ionis Pharmaceuticals Inc. (IONS) Ionis Pharmaceuticals Inc. (IONS) Bsecond fifth; percentile 35.9 Nasdaq · Pharmaceutical Preparations market equity $7.2B; last close $43.29 No active warnings; 10 of 14 inputs | 35.9 | B | |
| 135 | Biocryst Pharmaceuticals Inc. (BCRX) Biocryst Pharmaceuticals Inc. (BCRX) Bsecond fifth; percentile 36.2 Nasdaq · Biological Products, (No Diagnostic Substances) market equity $2.1B; last close $8.29 Warnings: fortress balance sheet; 10 of 14 inputs | 36.2 | B | fortress balance sheet |
| 136 | Tenet Healthcare Corp. (THC) Tenet Healthcare Corp. (THC) Bsecond fifth; percentile 36.5 NYSE · Services-General Medical & Surgical Hospitals, NEC market equity $21.0B; last close $260.68 No active warnings; 10 of 14 inputs | 36.5 | B | |
| 137 | Sanuwave Health, Inc. (SNWV) Sanuwave Health, Inc. (SNWV) Bsecond fifth; percentile 36.8 Nasdaq · Surgical & Medical Instruments & Apparatus market equity $50.3M; last close $5.78 No active warnings; 10 of 14 inputs | 36.8 | B | |
| 138 | LifeMD, Inc. (LFMD) LifeMD, Inc. (LFMD) Bsecond fifth; percentile 37.2 Nasdaq · Services-Offices & Clinics of Doctors of Medicine last close $2.65 Warnings: late filer; 8 of 14 inputs | 37.2 | B | late filer |
| 139 | LifeMD, Inc. (LFMDP) LifeMD, Inc. (LFMDP) Bsecond fifth; percentile 37.2 Nasdaq · Services-Offices & Clinics of Doctors of Medicine last close $23.53 Warnings: late filer; 8 of 14 inputs | 37.2 | B | late filer |
| 140 | Collegium Pharmaceutical, Inc. (COLL) Collegium Pharmaceutical, Inc. (COLL) B/Con the B/C boundary; percentile 37.6 Nasdaq · Pharmaceutical Preparations market equity $719.8M; last close $22.11 Warnings: fortress balance sheet; 11 of 14 inputs | 37.6 | B/C | fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | B | 38.0 | 2204 |
| sector peers, equal sleeves (the grade) | B | 36.2 | 371 |
| same exchange, equal sleeves | B | 35.8 | 1219 |
| sector peers, equal inputs | B/C | 40.0 | 371 |
Each letter is one fifth of the 371 graded peers, about 74 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 27.8% | 8.0% | 64 | hotter than 64 of 100 peers |
| Distance from 52-week high | (25.4%) | (31.4%) | 58 | closer to its high than 58 of 100 peers |
| EBIT to enterprise value | 15.1% | (1.5%) | 96 | pricier than 4 of 100 peers |
| Free cash flow yield | 16.3% | (1.0%) | 95 | pricier than 5 of 100 peers |
| Book value to price | (0.21) | 0.28 | 5 | pricier than 95 of 100 peers |
| Sales to price | 0.41 | 0.31 | 60 | pricier than 40 of 100 peers |
| Composite equity issuance, five years | 36.6% | 20.3% | 61 | more equity-funded than 61 of 100 peers |
| Relative strength against the sector, log excess return | 0.03 | (0.14) | 64 | ahead of 64 of 100 peers |
Inputs: market equity $2.1B; EBIT $341.0M; free cash flow $344.9M; book equity -$454.3M; sales $874.8M; debt $298.1M; cash $155.0M[33].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 7 of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | 53.8% | ✓ pass[6,8] |
| Operating cash flow above zero | $347.4M | ✓ pass[7] |
| Return on assets improved | 71.0 pts | ✓ pass[6,8,29,34] |
| Operating cash flow exceeds net income | $83.5M | ✓ pass[6-7] |
| Long-term leverage fell | (62.5 pts) | ✓ pass[1,8,29,35-36] |
| Current ratio improved | (56.9 pts) | ✗ fail[17-18,27-28] |
| No new shares issued | 20.0% | ✗ fail[31-32] |
| Gross margin improved | 0.5 pts | ✓ pass[2,5,9-10] |
| Asset turnover improved | 91.2 pts | ✓ pass[2,8-9,29] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $155.0M[37] |
| Operating cash flow, four quarters | $376.1M[7,37-41] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 65 |
| 10-Q received Aug 5, 2026 | |
| Median daily dollar volume | $31.8M |
| 63 sessions | |
| Days since newest grade input | 225 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $514.2M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $874.8M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $504.4M | 2021-12-31 | 2023-02-27 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $298.1M | 2021-12-31 | 2024-02-27 | 10-K | filing · viewer · series |
| 5 | cost of revenue | us-gaap:CostOfGoodsAndServicesSold | $19.1M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 6 | net income | us-gaap:NetIncomeLoss | $263.9M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 7 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $347.4M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 8 | assets | us-gaap:Assets | $490.4M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 9 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $450.7M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 10 | cost of revenue | us-gaap:CostOfGoodsAndServicesSold | $12.3M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 11 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $331.4M | 2023-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 12 | cost of revenue | us-gaap:CostOfGoodsAndServicesSold | $4.5M | 2023-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $270.8M | 2022-12-31 | 2025-02-25 | 10-K | filing · viewer · series |
| 14 | cost of revenue | us-gaap:CostOfGoodsAndServicesSold | $6.4M | 2022-12-31 | 2025-02-25 | 10-K | filing · viewer · series |
| 15 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $157.2M | 2021-12-31 | 2024-02-27 | 10-K | filing · viewer · series |
| 16 | cost of revenue | us-gaap:CostOfGoodsAndServicesSold | $7.2M | 2021-12-31 | 2024-02-27 | 10-K | filing · viewer · series |
| 17 | current assets | us-gaap:AssetsCurrent | $404.3M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 18 | current liabilities | us-gaap:LiabilitiesCurrent | $196.1M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 19 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$1.5B | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 20 | operating income | us-gaap:OperatingIncomeLoss | $341.0M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 21 | book equity | us-gaap:StockholdersEquity | -$119.2M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 22 | liabilities | us-gaap:Liabilities | $633.3M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 23 | capital expenditure | us-gaap:PaymentsToAcquireProductiveAssets | $2.5M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 24 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $1.4M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 25 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $267.4M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 26 | income tax | us-gaap:IncomeTaxExpenseBenefit | $3.5M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 27 | current assets | us-gaap:AssetsCurrent | $422.0M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 28 | current liabilities | us-gaap:LiabilitiesCurrent | $160.4M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 29 | assets | us-gaap:Assets | $517.0M | 2023-12-31 | 2025-02-25 | 10-K | filing · viewer · series |
| 30 | assets | us-gaap:Assets | $550.0M | 2022-12-31 | 2024-02-27 | 10-K | filing · viewer · series |
| 31 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 250,800,620 | 2026-02-20 | 2026-02-26 | 10-K | filing · viewer · series |
| 32 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 208,960,020 | 2025-02-20 | 2025-02-25 | 10-K | filing · viewer · series |
| 33 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 255,535,105 | 2026-07-31 | 2026-08-05 | 10-Q | filing · viewer · series |
| 34 | net income | us-gaap:NetIncomeLoss | -$88.9M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 35 | long term debt | us-gaap:LongTermDebtNoncurrent | $0 | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 36 | long term debt | us-gaap:LongTermDebtNoncurrent | $314.9M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 37 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $155.0M | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $42.6M | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 39 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$61.8M | 2026-03-31 | 2026-05-06 | 10-Q | filing · viewer · series |
| 40 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $55.4M | 2025-09-30 | 2025-11-04 | 10-Q | filing · viewer · series |
| 41 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $13.8M | 2025-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 36.2 is 3.8 points from the nearest band edge; sampling error is 2.5 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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