Welcome to our dedicated page for Burning Rock Biotech American Depositary Shares news (Ticker: BNR), a resource for investors and traders seeking the latest updates and insights on Burning Rock Biotech American Depositary Shares stock.
Burning Rock Biotech Limited (NASDAQ: BNR, LSE: BNR) is a pioneering cancer diagnostics company headquartered in China, established in 2014. The company is dedicated to leveraging next-generation sequencing (NGS) technology to advance precision oncology. This innovative approach aids in the selection of cancer therapies and the early detection of cancer, enhancing treatment outcomes and patient care.
Burning Rock operates through three primary segments: Central laboratory business, In-hospital business, and Pharma research and development services. The central laboratory business generates the majority of the company’s revenue. The company’s suite of products includes Pan-HEME, OncoScreen-WES, brPROPHET, and OncoScreen Plus, which provide comprehensive cancer profiling and support personalized treatment plans.
In a strategic move to comply with NASDAQ Listing Rules 5810(c)(3)(A), Burning Rock must meet the minimum bid price requirement by June 26, 2024. Should the company's ADSs maintain a closing bid price of at least US$1.00 for ten consecutive business days, NASDAQ will confirm compliance, closing the matter. Failing this, the company might be granted an additional 180-day period to meet the requirement.
Recently, Burning Rock announced an ADS Ratio Change, equivalent to a one-for-ten reverse ADS split, effective immediately. Certificate holders must surrender existing ADSs for the new ratio, while uncertificated ADSs will auto-adjust. This change is expected to proportionally increase the ADS price, although no guarantees are provided.
Burning Rock’s mission, “Guard Life via Science,” underscores its commitment to advancing cancer diagnostics and treatment through scientific innovation. The company continues to make significant strides in cancer early detection, moving beyond proof-of-concept R&D into clinical validation.
For more information, visit ir.brbiotech.com.
Burning Rock Biotech (NASDAQ: BNR) reported Q3 2022 financial results with revenues of RMB154.6 million (US$21.7 million), a 22.1% increase year-over-year. Key growth areas include a 24% rise in in-hospital volumes despite Covid challenges and a significant increase in pharma R&D contracts, rising 267.4% to RMB15.0 million. However, net losses grew to RMB231.5 million and the company revised its full-year revenue guidance to approximately 5% growth due to ongoing Covid impacts. The new role of Chief Scientific Officer was also introduced for Shannon Chuai, effective November 2022.
Burning Rock Biotech Limited (NASDAQ: BNR) announced its American depositary shares (ADSs) have been admitted to the standard listing segment of the FCA and are now trading on the London Stock Exchange (LSE) as of November 1, 2022. This direct listing allows for full fungibility with existing ADSs on Nasdaq, with custodial links established for smooth cross-market trading. Burning Rock focuses on next-generation sequencing (NGS) for precision oncology, providing therapy selection testing and early cancer detection services.
Burning Rock Biotech Limited announces the approval of its Prospectus by the FCA, related to the Direct Listing of its American depositary shares (ADSs) on the London Stock Exchange (LSE) under the ticker BNR, effective November 1, 2022. This listing aims to enhance market access for its next generation sequencing technology in precision oncology. The company has submitted its Prospectus for inspection and it will remain fully fungible with ADSs listed on NASDAQ. As of August 31, 2022, Burning Rock reported total current debt of $21,099 thousand and total shareholders' equity of $223,199 thousand.
Burning Rock Biotech Limited (NASDAQ: BNR) announced its plan to release unaudited financial results for Q3 2022 on November 16, 2022, prior to U.S. market opening. The company anticipates reporting strong double-digit revenue growth year-over-year, despite ongoing challenges from COVID-19 lockdowns. A conference call will follow at 8:30 a.m. ET to discuss these results, with a live webcast available on the company's investor relations website. Burning Rock focuses on next-generation sequencing technology in precision oncology, providing testing for therapy selection and cancer detection.
Burning Rock Biotech Limited has announced its intention to pursue a direct listing of its American depositary shares (ADSs) on the London Stock Exchange (LSE). Following a prior press release, the FCA has approved the registration document related to this listing. The ADSs will continue to trade on the Nasdaq Global Market and will be fully fungible with LSE-listed ADSs. The company specializes in next generation sequencing for precision oncology, focusing on cancer testing and early detection.
The global oncology liquid biopsy market is projected to grow to
This market is expected to achieve a CAGR of 46% from 2022 to 2027, indicating significant demand for less invasive diagnostic tools in oncology.
Burning Rock Biotech Limited (NASDAQ: BNR) held its 2022 annual general meeting where all shareholder resolutions were approved. Key resolutions included the ratification of Ernst & Young Hua Ming LLP as the auditor for the fiscal year ending December 31, 2022, the re-election of directors Feng Deng, Leo Li, and Licen Lisa Xu, and the adoption of the 2022 Long-term Equity Incentive Plan tied to future stock performance. The Company focuses on next-generation sequencing technology in precision oncology, supporting therapy selection for late-stage cancer patients and early cancer detection.
Burning Rock Biotech (NASDAQ: BNR) reported a 2.8% year-over-year increase in Q2 2022 revenues to RMB130.8 million (US$19.5 million). The central laboratory revenue decreased by 1.8% to RMB78.6 million due to Covid-related restrictions, particularly in Shanghai. However, revenues from pharma services surged by 166.6% to RMB18.1 million. The net loss widened to RMB262.1 million from RMB203.7 million in Q2 2021. The company retains its full-year 2022 revenue guidance at approximately RMB620 million, citing ongoing risks from potential Covid impacts.
Burning Rock Biotech Limited (NASDAQ: BNR) plans to release its unaudited financial results for Q2 2022 on August 31, 2022, before the U.S. market opens. The company anticipates a moderate growth in revenues year-over-year, supported by new product launches and growth in pharma services, despite disruptions from COVID-19 lockdowns. Management will host a conference call to discuss the results at 8:30 a.m. ET on the same day.
Burning Rock Biotech Limited (NASDAQ: BNR) has scheduled its Annual General Meeting (AGM) for September 8, 2022, at its Shanghai office. Key proposals include the ratification of Ernst & Young Hua Ming LLP as auditor for the fiscal year ending December 31, 2022, re-election of directors Feng Deng, Leo Li, and Licen Lisa Xu, and the adoption of the 2022 Long-term Equity Incentive Plan. The record date for shareholder participation is set for August 4, 2022. The AGM notice and 2021 Annual Report are available on the company's Investor Relations website.
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