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Dec 31, 2021
BeiGene Q4 2021 Earnings Report
BeiGene reported a strong Q4 2021 with increased product revenue and strategic collaborations.
Key Takeaways
BeiGene reported a strong fourth quarter and full year 2021, marked by significant revenue growth driven by product sales and collaborations. The company's strategic focus on internal development and commercialization, along with key partnerships, has positioned it for continued growth. BRUKINSA and tislelizumab sales contributed significantly to the revenue increase.
Product revenue increased by 96.6% in Q4 2021 compared to the prior year period.
Global sales of BRUKINSA increased by 378% in Q4 2021 compared to the prior year period.
Collaboration revenue totaled $17.2 million for Q4 2021, resulting from partial recognition of upfront payments from Novartis.
BeiGene completed a public offering on the STAR Market, raising approximately $3.4 billion.
Revenue by Segment
Forward Guidance
BeiGene anticipates several milestones in 2022, including clinical data announcements, regulatory approvals, and expansion of BRUKINSA's registration program. They also expect continued progress in collaboration with Novartis and other partners.
Positive Outlook
- Announce updated topline results for the Phase 3 ALPINE trial in R/R CLL/SLL in the second quarter of 2022.
- Continue to support ongoing FDA review of the sNDA submission for CLL/SLL, which has a PDUFA target action date of October 22, 2022.
- Receive approvals in China for the three sBLAs currently under review in first-line NPC, second-line ESCC, and second- or third-line MSI-High solid tumors in 2022.
- Initiate additional pivotal clinical trials for Ociperlimab in 2022.
- Report topline results from the Phase 3 trial in China of pamiparib as a maintenance treatment in patients with platinum-sensitive recurrent ovarian cancer, in the first half of 2022.
Challenges Ahead
- The Company expects that the worldwide health crisis of COVID-19 will continue to have a negative impact on its operations, including commercial sales, regulatory interactions, inspections, filings, manufacturing, and clinical trial recruitment, participation, and data read outs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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