Assets and Liabilities Held For Sale

9 Months Ended

Sep. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

On June 27, 2025, the Company entered into a definitive agreement (the “Stock Purchase Agreement”) with BioCryst Ireland Limited (“BioCryst Ireland”), a wholly owned subsidiary that operates the European ORLADEYO business, and Neopharmed Gentili S.p.A. (“Neopharmed”). On October 1, 2025 (the “Closing”), under the terms of the Stock Purchase Agreement, the Company sold to Neopharmed all of its equity interests in BioCryst Ireland, which, together with its subsidiaries, holds certain assets, rights, and employees related to our European ORLADEYO business (the “European ORLADEYO Business”). At the Closing, the Company received cash proceeds of $250,000, plus customary purchase price adjustments as set forth in the Stock Purchase Agreement. In addition, Neopharmed has agreed to pay the Company up to $14,000 if certain revenue milestones are achieved prior to December 31, 2032. Concurrent with the Closing, Neopharmed also paid a $15,000 royalty release fee to RPI 2019 Intermediate Finance Trust. In connection

with the sale, the Company entered into several agreements with Neopharmed, including an Amended and Restated IP Licence Agreement, a Supply Agreement, a Global Brand and Support Agreement, a Transition Services Agreement, and a Trademark License Agreement (each as defined in“Note 16—Subsequent Events”).

On October 8, 2025, the Company used a portion of the proceeds from the sale of the European ORLADEYO business to pay off in full the outstanding principal balance and terminate the Pharmakon Loan Agreement (as defined in “Note 8—Debt”). See “Note 16—Subsequent Events” for additional information.

As of September 30, 2025, the Company concluded that the criteria under ASC 360-10-45-9 for classification as held for sale were met for BioCryst Ireland. Accordingly, the assets and liabilities of BioCryst Ireland are classified as a disposal group held for sale in the Company’s Condensed Consolidated Balance Sheet. The disposal group is not considered a discontinued operation under ASC 205-20, as it does not represent a strategic shift that will have a major effect on the Company’s operations or financial results. Therefore, the results of operations for BioCryst Ireland are included in income from continuing operations for all periods presented.

No impairment loss was recognized in connection with the classification of the disposal group as held for sale, as the estimated fair value less costs to sell exceeded its carrying value.

The following table summarizes the assets and liabilities of BioCryst Ireland that are classified as held for sale on the unaudited Condensed Consolidated Balance Sheet as of September 30, 2025 (in thousands):


	September 30, 2025
Assets
Current assets:
Cash and cash equivalents	$	14,840
Trade receivables	10,285
Inventory, net	2,146
Prepaid expenses and other current assets	1,902
Current assets held for sale	29,173
Non-current assets held for sale	4,058
Total assets held for sale	$	33,231

Liabilities
Current liabilities:
Accounts payable	$	1,714
Accrued expenses	24,371
Other current liabilities	338
Current liabilities held for sale	26,423
Non-current liabilities held for sale	436
Total liabilities held for sale	$	26,859