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 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.
Burning Rock Biotech Limited (NASDAQ: BNR) announced the approval from the National Medical Products Administration (NMPA) for its LungCure™ CDx, a class III medical device. This NGS-based diagnostic kit is designed for in vitro detection of multiple gene mutations linked to non-small cell lung cancer (NSCLC). LungCure™ CDx stands out as it is the first kit in China capable of detecting MET amplification and MET exon 14 skipping. This advancement enhances patient care by broadening detection capabilities for targeted therapies.
Burning Rock Biotech Limited (NASDAQ: BNR) will present significant clinical data on its MRD platform for monitoring non-small cell lung cancer (NSCLC) and colorectal cancer (CRC) at the AACR Annual Meeting on April 8, 2022. The presentations will feature a comparison of tumor-informed patient-specific panels against standard methodologies, aiming to showcase the advanced performance of their circulating tumor DNA (ctDNA) analysis. CEO Yusheng Han expressed enthusiasm for collaborating with oncologists to further clinical evidence for MRD in China.
Burning Rock Biotech Limited (NASDAQ: BNR) announced plans to release its unaudited financial results for Q4 and full year 2021 on March 22, 2022, before U.S. market opening. Following the release, management will host a conference call at 8:00 AM ET to discuss the results. The company focuses on next-generation sequencing technology in precision oncology, specifically therapy selection testing for late-stage cancer patients and early detection of cancer, which is transitioning from R&D to clinical validation.
Burning Rock Biotech Limited (NASDAQ: BNR) announced it expects 2021 revenue to be at or slightly above RMB500 million. Despite increased COVID-related challenges, particularly in November and December, the company has seen a rise in overall business volumes, particularly in in-hospital testing. The commercial launch of two licensed-in products, DetermaRx and myChoice, has garnered positive market uptake. Burning Rock plans to discuss its Q4 results in March 2022.
Burning Rock Biotech Limited (NASDAQ: BNR) announced the successful passing of all shareholder resolutions at its 2021 annual general meeting on December 27, 2021. Key approvals include:
- The appointment of Ernst & Young Hua Ming LLP as the auditor for the fiscal year ending December 31, 2021.
- The re-election of directors Yusheng Han, Gang Lu, and Shaokun Chuai.
- The adoption of the 2021 Long-term Equity Incentive Plan, linking options to future stock performance.
These resolutions reflect the company's commitment to its governance and future growth strategies.
Burning Rock Biotech Limited (NASDAQ: BNR) has formed a strategic partnership with Merck KGaA to develop a companion diagnostics (CDx) test for the MET inhibitor tepotinib in mainland China. Tepotinib, already approved in various countries for treating advanced non-small cell lung cancer (NSCLC), functions by inhibiting MET receptor signaling in tumors. Burning Rock's OncoCompass Target™ panel, a next generation sequencing (NGS) solution, has demonstrated strong performance in clinical studies and aims to enhance precision medicine for cancer patients.
Burning Rock Biotech Limited (NASDAQ: BNR) announced its annual general meeting (AGM) scheduled for December 28, 2021, at its Shanghai office and in Hong Kong. Key proposals include the appointment of Ernst & Young Hua Ming LLP as the auditor for 2021, re-election of directors Yusheng Han, Gang Lu, and Shaokun Chuai, and approval of the 2021 Long-term Equity Incentive Plan. Shareholders on record by November 17, 2021, can attend the AGM. Details and the 2020 Annual Report are available on the Company’s investor relations website.
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