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Sep 30, 2024
BeiGene Q3 2024 Earnings Report
BeiGene's financial performance was marked by substantial revenue growth, driven by BRUKINSA sales, and a reduction in GAAP loss, alongside continued progress in R&D and pipeline expansion.
Key Takeaways
BeiGene reported a strong third quarter in 2024, achieving $1 billion in total revenue, driven by BRUKINSA sales. The company also reduced its GAAP loss and achieved its second consecutive quarter of positive non-GAAP operating income. They are expanding their oncology pipeline and global reach.
Total revenue reached $1 billion, driven by BRUKINSA sales.
BRUKINSA U.S. sales totaled $504 million, representing 87% growth year-over-year.
BRUKINSA Europe sales totaled $97 million, representing 217% growth year-over-year.
Four new molecular entities (NMEs) entered the clinic this quarter, with eight year-to-date.
Revenue by Segment
Forward Guidance
The company focuses on expanding TEVIMBRA's reach, advancing its pipeline, and improving access to medicines.
Positive Outlook
- Expanding access to TEVIMBRA for patients worldwide.
- Building global commercial capabilities to support the pipeline.
- Laying the foundation for future franchises in breast, lung, and gastrointestinal cancers.
- Advancing preclinical programs into the clinic.
- Early clinical programs are progressing into late stage.
Challenges Ahead
- Clinical results for drug candidates may not support further development or marketing approval.
- Actions of regulatory agencies may affect the initiation, timing, and progress of clinical trials and marketing approval.
- Reliance on third parties to conduct drug development, manufacturing, commercialization, and other services.
- Limited experience in obtaining regulatory approvals and commercializing pharmaceutical products.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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