mohd izzuan
U.S.-listed shares of BeiGene (NASDAQ:BGNE) rose as a lot as 8.9% to $184.Eight in Thursday morning buying and selling, after the corporate reported Q2 income that greater than doubled Y/Y.
BGNE inventory had pared many of the beneficial properties and was final buying and selling 1.7% greater as of 1010 ET.
BGNE’s quarterly income of $341.57M rose 127.7% Y/Y and beat estimates by $30.5M. Nonetheless, Q2 GAAP earnings per American depositary share of -$5.56 missed expectations by $1.45.
The majority of BGNE’s Q2 gross sales got here from product income of $304.5M (vs. $138.6M final 12 months), which included:
- World gross sales of BeiGene’s (BGNE) most cancers drug Brukinsa, which got here in at $128.7M, a big improve from $42.4M final 12 months.
- Gross sales of BGNE’s different most cancers remedy, tislelizumab, of $104.9M in China, in comparison with $74.9M final 12 months.
- Gross sales of merchandise in-licensed from Amgen (AMGN) of $29.5M in China vs. $3.3M a 12 months in the past.
- Gross sales of merchandise in-licensed from Bristol-Myers Squibb (BMY) of $23.4M in China, a Y/Y achieve from $13.4M.
“We made important progress in our mission to succeed in much more most cancers sufferers with revolutionary and reasonably priced medicines, with progress in product revenues throughout our portfolio, pushed primarily by our internally developed medicines, Brukinsa and tislelizumab,” BeiGene CEO John Oyler stated within the earnings report.
As much as Wednesday’s shut, BGNE American depositary shares have misplaced 37.4% YTD.
