Astria Therapeutics Stock Rallies 37% on $700M Buyout Offer From BCRX

Shares of Astria Therapeutics ATXS rallied 37.1% on Tuesday after the company signed a definitive agreement to be acquired by BioCryst Pharmaceuticals BCRX for a mix of cash and stock, representing an implied value of $13 per Astria share and approximately $700 million in enterprise value.

The implied tender offer price of $13 per share equates to a 53% premium over Astria Therapeutics’ closing price on Oct. 13, 2025. Subject to the fulfillment of certain customary closing conditions, ATXS and BCRX anticipate closing the acquisition deal in the first quarter of 2026.

The Rationale Behind the ATXS Buyout Offer From BCRX

The impending acquisition of Astria Therapeutics by BioCryst Pharmaceuticals is strategically positioned to strengthen the latter’s leadership in the hereditary angioedema (HAE) market. HAE is characterized as a rare genetic disorder that causes severe and unpredictable attacks of swelling throughout the body.

The acquisition will add ATXS’ lead asset, navenibart, a long-acting monoclonal antibody inhibitor of plasma kallikrein designed for HAE prophylaxis, to BCRX’s pipeline. The candidate’s highly differentiated administration schedule (every three or six months) positions it as a potential best-in-class injectable therapy that directly addresses a critical unmet need for less frequent dosing among HAE patients.

Astria Therapeutics seeks to leverage BioCryst Pharmaceuticals’ experience and established commercialization platform in HAE to advance the navenibart program, having already marketed an oral once-daily therapy, Orladeyo (berotralstat), for this indication. By adding navenibart to its portfolio, BCRX aims to offer a comprehensive treatment suite, both oral and injectable, giving physicians and patients the flexibility to tailor care based on individual preferences. This dual offering is expected to significantly expand patient reach and reinforce BioCryst Pharmaceuticals’ competitive advantage in the rare disease market.

Year to date, ATXS stock has surged 29.8% compared with the industry’s 7.6% growth.

Astria Therapeutics is currently evaluating navenibart in a phase III ALPHA-ORBIT study with top-line data expected in early 2027. Previous clinical studies have already demonstrated strong efficacy and a favorable safety and tolerability profile, supporting the candidate’s potential to emerge as the leading injectable HAE treatment.

Commercially, navenibart targets an addressable market of more than 5,000 HAE patients currently treated with injectable prophylaxis, many of whom may prefer a long-acting, low-burden alternative. BioCryst Pharmaceuticals’ proven sales infrastructure, patient services platform and strong stakeholder network are expected to accelerate uptake post-approval. The company is positioning for a steep launch curve, replicating its successful commercialization playbook to drive rapid market penetration.

Financially, the impending transaction is structured to enhance BCRX’s growth trajectory over the next decade. The addition of navenibart is projected to sustain double-digit revenue growth, maintain profitability, and generate positive cash flow post-closing. Moreover, significant operating synergies, stemming from shared commercial infrastructure and cost efficiencies, are expected to make the deal accretive to BioCryst Pharmaceuticals’ non-GAAP operating profit in the first full year of revenues after navenibart’s anticipated launch.

Beyond navenibart, the deal will also add Astria Therapeutics’ early-stage atopic dermatitis candidate, STAR-0310, to BioCryst Pharmaceuticals’ clinical pipeline. However, BCRX intends to explore strategic alternatives for this non-core asset.

Astria Therapeutics, Inc. Price and Consensus

Astria Therapeutics, Inc. price-consensus-chart | Astria Therapeutics, Inc. Quote

ATXS’ Zacks Rank & Stocks to Consider

Astria Therapeutics currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Alnylam Pharmaceuticals ALNY and CorMedix CRMD, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the past 60 days, estimates for Alnylam Pharmaceuticals’ 2025 earnings per share have increased from $3.35 to $3.98. Earnings per share estimates for 2026 have also increased from $8.95 to $9.61 during the same period. ALNY stock has surged 99.5% year to date.

Alnylam Pharmaceuticals’ earnings beat estimates in three of the trailing four quarters while matching the same on the remaining occasion, delivering an average surprise of 348.36%.

In the past 60 days, estimates for CorMedix’s earnings per share have increased from $1.22 to $1.85 for 2025. During the same time, earnings per share estimates for 2026 have increased from $2.12 to $2.49. Year to date, shares of CRMD have surged 40%.

CorMedix’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.1%.

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