Burning Rock Provides First Quarter 2023 Business Updates and Schedules Earnings Release on May 30, 2023

Rhea-AI Summary

Burning Rock Biotech Limited (NASDAQ: BNR, LSE: BNR) announced plans to release its unaudited financial results for Q1 2023 on May 30, 2023, before U.S. market opens. Management will hold a conference call at 8:00 a.m. ET on the same day. The company anticipates moderate revenue growth year-over-year, driven by a strong rebound in March, reversing previous declines in January-February. March 2023 total test volumes increased by approximately 29% year-over-year, attributed mainly to growth in the in-hospital channel. Investors can register for the call and access a live webcast on the company’s investor relations website.

Positive

• Expected moderate revenue growth year-over-year for Q1 2023.
• Total test volumes increased approximately 29% year-over-year in March 2023.

Negative

• None.

GUANGZHOU, China, April 27, 2023 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR, the “Company” or “Burning Rock”), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today announced that it plans to release its unaudited financial results for the first quarter of 2023 before the U.S. market opens on May 30, 2023. Following the release, company management will host a conference call at 8:00 a.m. ET (8:00 p.m. Hong Kong time) on the same day to discuss its financial results for the first quarter of 2023.

While the Company has not completed the preparation of its financial statements for the first quarter of 2023, it expects to report a moderately positive revenue growth on a year-over-year basis, driven by a strong growth rebound in March, reversing the year-over-year decreasing trend in January-February. Total test volumes (central-laboratory and in-hospital combined) in March 2023 increased by approximately 29% year-over-year, driven by strong growth of the in-hospital channel.

Please register in advance of the conference using the link provided below and dial in 15 minutes prior to the call, using participant dial-in numbers and unique registrant ID which would be provided upon registering.

PRE-REGISTER LINK:

https://register.vevent.com/register/BI70acdaea8afc4d3e8f3eec70e5cc3fa7.
Additionally, a live and archived webcast of the conference call will also be available on the company’s investor relations website at http://ir.brbiotech.com or through link
https://edge.media-server.com/mmc/p/p3h6zb7y.

A replay of the webcast will be available for 12 months via the same link above.

Please visit the Company’s investor relations website at https://ir.brbiotech.com/news-events/news-releases on May 30, 2023 to view the earnings release prior to the conference call.

About Burning Rock

Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR), whose mission is to Guard Life via Science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) NGS-based cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage.

For more information about Burning Rock, please visit: www.brbiotech.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Burning Rock may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Burning Rock’s beliefs and expectations, are forward-looking statements. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Burning Rock’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Burning Rock does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Contact: IR@brbiotech.com

FAQ

When will Burning Rock Biotech release its Q1 2023 financial results?

Burning Rock Biotech will release its Q1 2023 financial results on May 30, 2023, before the U.S. market opens.

What are the expected revenue trends for Burning Rock Biotech in Q1 2023?

The company expects moderate revenue growth year-over-year in Q1 2023.

How much did the total test volumes increase in March 2023 for Burning Rock Biotech?

Total test volumes increased by approximately 29% year-over-year in March 2023.

What time is the conference call for Burning Rock Biotech's Q1 2023 results?

The conference call will be held at 8:00 a.m. ET on May 30, 2023.