Burning Rock Biotech Limited American Depositary Shares - BNR STOCK NEWS

Burning Rock Biotech Limited (NASDAQ: BNR) announced the launch of the PREVENT study, China's first prospective interventional study aimed at evaluating the OverC™ early cancer detection test in asymptomatic individuals. The study will enroll 12,500 participants and assess six cancer types, which represent about 50% of cancer incidence and 62% of cancer mortality in China. The initiative aligns with government efforts to address cancer challenges and aims to enhance early detection, diagnosis, and treatment for better patient outcomes.

Burning Rock Biotech Limited (NASDAQ: BNR) announced the resignation of Mr. Jing Rong from its Board and appointed Dr. Licen Lisa Xu as an independent director. Dr. Xu brings over 15 years of experience in life sciences, previously holding senior roles at Roche Diagnostics and Illumina. She is currently the chief commercial officer at FlashDx Inc. and has a Ph.D. in molecular biology. Burning Rock focuses on next generation sequencing technology in precision oncology, including therapy selection testing and cancer early detection.

Burning Rock Biotech Limited (NASDAQ: BNR) announced a share repurchase program, allowing buybacks of up to US$10 million in Class A ordinary shares over the next 12 months. The repurchases will occur in the open market and may involve various transaction methods, depending on market conditions. The program is designed to be funded from the company’s existing cash reserves, indicating confidence in maintaining shareholder value.

Burning Rock Biotech Limited (NASDAQ: BNR) announced on June 21, 2022, that its Board of Directors has approved a motion to pursue an alternative listing of its Class A ordinary shares on a globally recognized stock exchange. This initiative aims to enhance the trading experience of shareholders amid changing market conditions. The company is engaging professional parties to facilitate this process while continuing its focus on developing innovative cancer diagnostic solutions to maximize shareholder value. Further updates will be provided as necessary.

Burning Rock (NASDAQ:BNR) presented final results from the THUNDER study at the 2022 ASCO Annual Meeting, evaluating their cfDNA methylation-based technology, ELSA-seq, for early cancer detection. The study showed that MCDBT-1 had a sensitivity of 69.1% at 98.9% specificity, while MCDBT-2 demonstrated a sensitivity of 75.1% with 95.1% specificity. The models predict the tissue origin of cancer accurately, achieving 83.2% accuracy in independent validation. The study suggests significant potential for reducing late-stage cancer incidence and improving survival rates, thereby enhancing public health outcomes.

Burning Rock Biotech Limited (NASDAQ: BNR) announced it has received CE marking for its OverC™ Multi-Cancer Detection Blood Test, produced in the US and China. This test uses next-generation sequencing to detect DNA methylation markers in cfDNA from blood, aimed at early cancer detection in adults aged 40-75. The CE mark validates the quality management system in its labs and supports the company's global business strategy. The OverC™ test leverages the ELSA-seq technology, which combines epigenetics, NGS, and machine learning for efficient tumor DNA detection, marking a significant milestone in cancer diagnostics.

Burning Rock Biotech reported Q1 2022 revenues of RMB 135.5 million (US$21.4 million), a 27.1% increase year-over-year. The company achieved 42% overall testing volume growth, primarily from an 83% increase in its in-hospital segment. However, the central laboratory segment saw a 0.5% revenue decline. The net loss widened to RMB 261.4 million (US$41.2 million) compared to RMB 171.4 million in Q1 2021. Full-year revenue guidance remains at RMB 620 million (US$97.8 million), signaling a 22% anticipated growth over 2021.

Burning Rock Biotech Limited (NASDAQ: BNR) will release its unaudited financial results for Q1 2022 on May 31, 2022, before U.S. markets open. A conference call will be held at 8:30 a.m. ET the same day to discuss the results. Burning Rock specializes in next-generation sequencing (NGS) technology for precision oncology, including therapy selection testing and early cancer detection. Investors can access the earnings release and join the conference call via the company’s investor relations website.

Burning Rock Biotech Limited (NASDAQ: BNR) reported its financial results for Q4 and full-year 2021, showing a revenue increase of 11.9% year-on-year to RMB147.3 million (US$23.1 million) for Q4 and 18.1% to RMB507.9 million (US$79.7 million) for 2021. The in-hospital business saw a significant 40.1% growth, while pharma services surged 59.3% year-on-year. Operating expenses rose 59.9% for the year, leading to a net loss of RMB796.7 million (US$125 million). The company projects 2022 revenues to reach approximately RMB620 million (US$97.3 million), a 22% increase.