BeiGene, Ltd. (NASDAQ: ONC, HKG: 6160, SHA: 688235) released financial results and corporate updates from the fourth quarter and full year 2024 as the oncology biotech works to change its name to BeOne Medicines Ltd. The company recorded USD 1.128 billion in Q4 and USD 3.81 billion in 2024 revenues, up 78% and 55% year-on-year (YOY). Product net sales reached USD 1.118 billion in Q4 and USD 3.8 billion in 2024, after 77% and 73% expansion, respectively. Cooperation income for Q4 2024 and the whole year were USD 9.789 million and USD 30.695 million, respectively.
Product Highlights
Brukinsa (zanubrutinib) pulled in USD 616 million (+ 97%) in Q4 and USD 2 billion sales (+ 106%) in 2024, thanks to its leading position in the US in terms of chronic lymphocytic leukemia (CLL) and other indications, alongside increasing market share. In Europe, the BTK inhibitor charted USD 113 million (+ 148%) in Q4 and USD 359 million (+ 194%) sales in 2024, due to increased market shares in Germany, Italy, Spain, France, and Britain. Tevimbra (tislelizumab), its programmed death-1 (PD-1) inhibitor approved in the US and Europe as first-line therapy for gastric or gastroesophageal junction cancer (GC/GEJC), generated USD 154 million (+ 20%) in Q4 and USD 621 million (+ 16%) sales in 2024.
Financial Overview
Research and development (R & D) expenses increased 10% in Q4 and 2024 to USD 542 million and USD 1.953 billion. The GAAP net loss improved for the fourth quarter and full year 2024, with USD 79.43 million and USD 568 million, respectively, compared to the prior-year periods.
Future Outlook
BeiGene provided total revenue guidance for the full year 2025 of USD 4.9 billion to USD 5.3 billion.-Fineline Info & Tech
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