BeiGene reports strong growth in 2024
Sino American biotech BeiGene (Nasdaq: ONC; HKEX: 06160) has announced financial results and corporate updates from the fourth quarter and full year 2024. The company’s shares rose 7.5% to $278.38 on the news.
BeiGene reported total global revenues of $1.1 billion for the fourth quarter and $3.8 billion for the full year 2024, representing increases of 78% and 55%, respectively, compared to the prior-year periods. The company's net product revenues were $1.1 billion for the fourth quarter and $3.8 billion for the full year, driven primarily by the success of Brukinsa (zanubrutinib).
On a generally accepted accounting principles (GAAP) basis, net loss improved for the fourth quarter and full year 2024, as compared to the prior-year periods, primarily attributable to reduced operating losses.
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