What happened? Shares of BioCryst Pharmaceuticals (NASDAQ: BCRX) are trading higher on Wednesday following the company's announcement of positive news regarding its hereditary angioedema (HAE) treatment, Orladeyo. The company's stock was up by 6.2% as of 3:33 p.m. EDT, after rising by as much as 9.8% earlier in the trading session. So what Back in January, oral once-daily Orladeyo was approved in Japan for prophylactic treatment of HAE. Today, BioCryst Pharma announced that the Japanese National Health Insurance System (NHI) has approved the addition of Orladeyo to its drug price list starting on April 21. Torii Pharmaceutical, a drugmaker headquartered in Japan, owns the commercial rights to Orladeyo in the country. Image source: Getty Images. Torii is set to launch Orladeyo in Japan once the NHI drug price listing kicks in. Importantly, this development triggers a $15 million milestone payment from Torii to BioCryst. BioCryst is also entitled to receive royalties ranging from 20% to 40% of Orladeyo's net sales in Japan. These factors explain why investors cheered this news, especially considering Orladeyo is the only prophylactic treatment for HAE approved in Japan. Now what BioCryst Pharma and its shareholders have more to look forward to regarding Orladeyo. The healthcare company has already filed for approval of this treatment in the EU, and it expects an answer from regulators during the second quarter. If Orladeyo earns regulatory approval in Europe, BioCryst Pharma's shares will likely rise on the news. In short, investors should pay close attention to BioCryst over the next few weeks. 10 stocks we like better than BioCryst PharmaceuticalsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and BioCryst Pharmaceuticals wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source