BeiGene financials miss analysts' expectations

Sino-American biotech BeiGene (HKEX: 06160) yesterday reported financial results, showing that revenues for the fourth quarter and full year 2022 was $380.1 million, missing consensus estimates of $345 million by 2%, and $1.4 billion, respectively, compared to $214.0 million and $1.2 billion in the prior-year periods.

Net loss for the fourth quarter was $445.3 million, or $0.33 per share and $4.29 per ADS, compared to $590.7 million, or $0.48 per share and $6.22 per ADS in the prior year period.

The decrease in net loss is primarily attributable to improved operating leverage due to growing product revenues exceeding operating expense growth.