Shares of BioCryst Pharmaceuticals (NASDAQ: BCRX) were up by a healthy 14% as of 1:40 p.m. ET Wednesday. The big gain came after the small-cap biotech reported first-quarter earnings ahead of the opening bell. 

Although it missed Wall Street's consensus top-line estimate by $2.6 million for the quarter, investors appear to be more concerned about BioCryst's overall financial health and near-term outlook.

BioCryst said that in Q1, the number of U.S. patients taking its oral hereditary angioedema (HAE) drug Orladeyo rose by 46% year over year. Meanwhile, its research and development expenses plunged by 26% due to the discontinuation of its BCX9930 and BCX9250 programs.

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Source Fool.com