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 2020, highlighting a 48.5% revenue increase to RMB131.7 million (US$20.2 million) despite COVID-19 impacts. Full year revenues reached RMB429.9 million (US$65.9 million), a 12.6% rise from 2019. The central laboratory business grew by 22.5% year-over-year. However, the company reported a net loss of RMB156.5 million (US$24.0 million) for Q4 and a total loss of RMB407.2 million (US$62.4 million) for 2020. For 2021, Burning Rock anticipates revenues of approximately RMB610 million (US$93.5 million), indicating 41.9% growth.

Burning Rock Biotech Limited (NASDAQ: BNR) announced plans to release its unaudited fourth quarter and full year 2020 financial results before markets open on March 11, 2021. Following the results, a conference call will be held at 8:00 a.m. ET to discuss financial outcomes. The company focuses on next-generation sequencing for precision oncology, holding a leading market share in China with over 273,000 tests completed. Investors can access the earnings release on the company’s investor relations website.

Burning Rock Biotech Limited (NASDAQ: BNR) announced an exclusive licensing agreement with Oncocyte Corporation (NYSE American: OCX) to introduce the DetermaRx™ test for early stage lung cancer in China. This test identifies high-risk patients who may benefit from chemotherapy post-surgery for non-small-cell lung cancer (NSCLC). Developed from a cohort of 361 patients, the test has shown a significant improvement in 5-year freedom from recurrence rates. The partnership aims to enhance patient outcomes and expand market reach, while also providing financial benefits to both companies.

Burning Rock Biotech Limited (NASDAQ: BNR) announced a secondary public offering of 2,243,000 American Depositary Shares (ADSs) priced at $25.75 each, totaling approximately $57.8 million. The offering comes from selling shareholders, with no proceeds going to the Company. The underwriters, including Morgan Stanley, BofA Securities, and Cowen, have the option to purchase an additional 336,450 ADSs within 30 days. This registration statement was filed with the SEC and became effective on December 3, 2020.

Burning Rock Biotech Limited (NASDAQ: BNR) has filed a registration statement on Form F-1 with the SEC for a public secondary offering of 1,838,000 American Depositary Shares (ADSs). The selling shareholders have also granted underwriters an option for an additional 275,700 ADSs. The company will not receive any proceeds from this offering. Joint bookrunners include Morgan Stanley, BofA Securities, and Cowen.

The offering aims to provide liquidity for current shareholders, but no proceeds will benefit Burning Rock directly.

Burning Rock Biotech Limited (NASDAQ: BNR) reported Q3 2020 financial results, with revenues of RMB123.9 million (US$18.2 million), up 19.4% year-over-year. Central laboratory revenues rose 29.7% to RMB89.9 million, driven by a 27.7% increase in patients tested. In-hospital revenue grew 3.3% to RMB31.7 million. Gross profit was RMB91.6 million, a 17.1% increase, but gross margin declined to 73.9%. Operating expenses surged 93.5% to RMB216.2 million, primarily due to R&D costs, reflecting the company's investment in growth.

Burning Rock Biotech Limited (NASDAQ: BNR) has entered a development agreement with Myriad Genetics (NASDAQ: MYGN) to introduce myChoice^® tumor testing for homologous recombination deficiency (HRD) in China. This test identifies patients whose tumors cannot repair DNA, making them susceptible to certain cancer treatments. Following its FDA approval in May 2020 as a companion diagnostic for advanced ovarian cancer, myChoice is now set to enhance personalized cancer treatment in China. Burning Rock will utilize its expertise in NGS testing to support this endeavor.

Burning Rock Biotech Limited (NASDAQ: BNR) announced the presentation of validation data for its fully-automated NGS library preparation platform, Magnis BR, at the AMP 2020 annual meeting on November 19, 2020. Co-developed with Agilent Technologies, Magnis BR enables hospitals to conduct NGS tests in-house with minimal space and staff requirements. It offers a streamlined 9-hour overnight preparation process, allowing for NGS report generation in as little as 3 days. As China's sole capture-based automated NGS system, it enhances Burning Rock's position in the in-hospital testing market.

Burning Rock Biotech Limited (NASDAQ: BNR) announced that new data for its ELSA-seq test will be presented at the ESMO Asia Virtual Congress on November 20. The ELSA-seq test focuses on early cancer detection through targeted methylation sequencing, which analyzes epigenetic changes in cell-free DNA. The THUNDER pilot study aims to develop and validate this test, showcasing results from the THUNDER-II substudy, which covers various cancers including those in the lung and pancreas. Burning Rock's mission is to enhance precision oncology using advanced sequencing technologies.