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Dec 31, 2022
BeiGene Q4 2022 Earnings Report
BeiGene's Q4 2022 financial results were reported, featuring revenue growth driven by BRUKINSA and tislelizumab.
Key Takeaways
BeiGene reported strong fourth quarter and full year 2022 financial results, with product revenue reaching $339.0 million for the quarter and $1.3 billion for the year, representing a 72.3% and 97.9% increase, respectively, compared to the prior-year periods. The growth was primarily driven by increased sales of BRUKINSA and tislelizumab.
Product revenue increased by 72.3% in Q4 2022, reaching $339.0 million.
BRUKINSA product revenue increased by 101% in Q4 2022, totaling $176.1 million.
Tislelizumab product revenue increased by 88% in Q4 2022, amounting to $102.2 million.
Net loss for Q4 2022 was $445.3 million, an improvement compared to the prior year period.
BeiGene
BeiGene
BeiGene Revenue by Segment
Revenue by Segment
Brukinsa Revenue
CapyFin.com Forward Guidance
BeiGene anticipates several milestones in 2023, including regulatory submissions and approvals for BRUKINSA and tislelizumab, as well as data readouts from ongoing clinical trials for various drug candidates. The company also expects to continue expanding its manufacturing capabilities and advancing its collaboration programs.
Positive Outlook
- Submission of sNDA in the U.S. and EU for BRUKINSA in R/R CLL/SLL in the first half of 2023.
- NMPA review of sNDA for first-line CLL/SLL and WM in China, with a decision expected in the first half of 2023.
- Continue to support review by regulatory authorities of BeiGene's applications for tislelizumab.
- Announce final analysis data from pivotal trials in extensive-stage small cell lung cancer and first-line gastric cancer in 2023.
- Initiate global pivotal trial in first-line CLL in combination with BRUKINSA in the second half of 2023.
Challenges Ahead
- The COVID-19 pandemic is expected to continue to have a negative impact on operations.
- Uncertainty remains regarding the future impact of the pandemic both globally and specifically in China due to outbreaks and restrictions and potential impact on clinical, manufacturing and commercial operations.
- 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.
- BeiGene's reliance on third parties to conduct drug development, manufacturing, commercialization, and other services.