Biotech M&A activity has accelerated sharply in 2026, with deal value reaching $130 billion in H1 alone. Four biotech companies—Abivax, Iovance Biotherapeutics, Viking Therapeutics, and BioCryst Pharmaceuticals—are highlighted as potential acquisition targets due to their differentiated late-stage assets and strategic positioning in high-growth therapeutic areas including immunology, oncology, obesity, and rare diseases.

Japan's Ministry of Health, Labor and Welfare approved ORLADEYO (berotralstat) granule formulation for prophylactic therapy in pediatric HAE patients aged 2 to <12 years. This marks the second regulatory approval for ORLADEYO in Japan and expands the company's market reach for its once-daily oral treatment. The approval is based on positive interim results from the APeX-P clinical trial showing the drug was well-tolerated with sustained reductions in monthly attack rates.

BioCryst announced new clinical data and real-world evidence for ORLADEYO (berotralstat), its oral prophylactic therapy for hereditary angioedema (HAE), showing consistent reductions in HAE attack burden and healthcare utilization. The company also presented post hoc analysis from the Phase 1b/2 ALPHA-STAR study of investigational navenibart, a long-acting monoclonal antibody plasma kallikrein inhibitor, demonstrating consistent attack rate reductions across patient subgroups and supporting ongoing Phase 3 evaluation.

BioCryst Pharmaceuticals reported Q1 2026 ORLADEYO net revenue of $148.3 million, up 11% year-over-year. The company announced a licensing agreement with Neopharmed Gentili for European commercial rights to navenibart, receiving $70 million upfront and up to $275 million in milestone payments. Patient enrollment in the navenibart pivotal study remains on track for completion by end of June 2026, with US regulatory filing expected by end of 2027. The company maintained its full-year 2026 revenue guidance of $625-645 million for ORLADEYO.

BioCryst Pharmaceuticals granted an Irish affiliate of Neopharmed Gentili exclusive European rights to commercialize navenibart for hereditary angioedema. BioCryst will receive $70M upfront, up to $275M in future milestone payments, and 18-30% royalties on sales. The agreement builds on their prior ORLADEYO business sale and supports BioCryst's strategy to focus on U.S. commercialization while strengthening its financial position.

BioCryst Pharmaceuticals announced the appointment of Dr. Sandeep M. Menon as Chief Research and Development Officer. Dr. Menon brings extensive experience from leadership roles at Alnylam Pharmaceuticals and Pfizer, where he oversaw clinical development of multiple therapies including AMVUTTRA and PAXLOVID. The appointment comes as BioCryst advances its navenibart program toward potential FDA approval and builds on the commercial success of ORLADEYO and the recent acquisition of Astria Therapeutics.

BioCryst Pharmaceuticals announced that its compensation committee granted restricted stock units (RSUs) covering 65,850 shares of common stock to six newly-hired employees as inducement grants. The RSUs vest in four equal annual installments beginning one year from the grant date of March 2, 2026, subject to continued employment.

BioCryst Pharmaceuticals achieved full-year profitability for the first time in company history in 2025, with ORLADEYO net revenue reaching $601.8 million (+38% y-o-y). The company received FDA approval for ORLADEYO oral pellets for children ages 2-11 and completed the acquisition of Astria Therapeutics to expand its HAE portfolio with navenibart. BioCryst maintained 2026 ORLADEYO revenue guidance of $625-645 million and reported record operating profit despite selling its European ORLADEYO business.

BioCryst Pharmaceuticals announced it will present nine abstracts on its hereditary angioedema (HAE) portfolio at the 2026 AAAAI Annual Meeting in Philadelphia. The presentations include six abstracts on ORLADEYO (berotralstat), an oral prophylactic therapy for HAE patients aged 2 and older, and three on navenibart, an investigational monoclonal antibody plasma kallikrein inhibitor. A late-breaking presentation will highlight positive interim results from the ALPHA-SOLAR trial showing sustained HAE attack suppression with navenibart administered every 3 or 6 months.

BioCryst Pharmaceuticals completed its $700 million acquisition of Astria Therapeutics, adding navenibart, a late-stage plasma kallikrein inhibitor in Phase 3 development for hereditary angioedema (HAE). The acquisition strengthens BioCryst's HAE portfolio alongside its leading oral therapy ORLADEYO, with navenibart potentially offering every-three and every-six month dosing options. BioCryst financed the deal with cash on hand and $396.6 million from a Blackstone financing facility, plus 37.3 million shares issued to Astria shareholders.

Law firm investigating potential securities law violations and fiduciary duty breaches for multiple companies involving merger and acquisition transactions.

BioCryst will present four abstracts at the ACAAI Annual Scientific Meeting, focusing on pediatric hereditary angioedema (HAE) research, including long-term prophylaxis data for ORLADEYO in children aged 2 to <12 years and psychosocial impact studies.