Burning Rock Biotech Limited American Depositary Shares - BNR STOCK NEWS

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.

Burning Rock Biotech Limited (NASDAQ: BNR) announced Q3 2021 financial results, reporting revenues of RMB126.6 million (US$19.7 million), a 2.2% increase year-over-year. However, net loss widened to RMB170.5 million (US$26.5 million) from RMB127.1 million in the same quarter last year. The company signed pilot contracts for its 6-cancer early detection product, while anticipating a read-out for its 9-cancer product in H1 2022. Central laboratory revenue fell by 12.3% while in-hospital revenue surged 37.9%, highlighting a shift towards more in-hospital testing.