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BeiGene
🇨🇭 NASDAQ:ONC
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Mar 31, 2020

BeiGene Q1 2020 Earnings Report

BeiGene's financial results for Q1 2020 were reported, highlighting the launch of tislelizumab in China and key milestones achieved.

Key Takeaways

BeiGene reported a decrease in total revenue primarily due to the lack of collaboration revenue and decreased product sales of ABRAXANE, REVLIMID and VIDAZA in China, which was partially offset by initial sales of tislelizumab in China and BRUKINSA in the United States. They launched tislelizumab in China and are managing the challenges of COVID-19 to maintain momentum in their development program.

Launched tislelizumab in China in March 2020 for classical Hodgkin’s lymphoma patients.

Received approval from China's NMPA for tislelizumab to treat locally advanced or metastatic urothelial carcinoma.

Generated $52.06 million in product revenue.

Transition activities for Amgen commercial oncology medicines in China are on track.

Total Revenue
$52.1M
Previous year: $77.8M
-33.1%
EPS
-$4.7
Previous year: -$2.81
+67.3%
R&D Expenses
$304M
Previous year: $178M
+70.6%
SG&A Expenses
$107M
Previous year: $57.6M
+85.8%
Gross Profit
-$266M
Cash and Equivalents
$3.38B
Free Cash Flow
-$363M
Total Assets
$4.07B

BeiGene

BeiGene

BeiGene Revenue by Segment

Forward Guidance

This press release contains forward-looking statements regarding BeiGene's product candidates, approvals, clinical trials, data readouts, commercial product launches, and milestones.

Positive Outlook

  • Recent clinical data for BeiGene’s product candidates and approvals of its products
  • The conduct of late-stage clinical trials and expected data readouts
  • Additional planned commercial product launches
  • The advancement of and anticipated clinical development, regulatory milestones and commercialization of BeiGene’s products and drug candidates
  • BeiGene’s plans and the expected milestones under the caption “Recent Business Highlights and Upcoming Milestones”

Challenges Ahead

  • BeiGene's ability to demonstrate the efficacy and safety of its drug candidates
  • The clinical results for its drug candidates, which may not support further development or marketing approval
  • Actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials and marketing approval
  • BeiGene's ability to achieve commercial success for its marketed products and drug candidates, if approved
  • The impact of the COVID-19 pandemic on the Company’s clinical development, commercial and other operations

Company Overview

Full financial data and analysis

View BeiGene