Burning Rock Biotech Ltd Stock Price, News & Analysis

Burning Rock Biotech Limited (NASDAQ: BNR) reported its financial results for the fourth quarter and full year 2022. The company recorded revenues of RMB142.2 million (US$20.6 million) for Q4 2022, a 3.5% decrease compared to Q4 2021, mainly due to COVID-19 impacts. For full-year 2022, revenues rose 10.9% to RMB563.2 million (US$81.7 million). The net loss for Q4 2022 was RMB216.2 million (US$31.4 million), improved from RMB251.1 million in Q4 2021. The company achieved a significant milestone with its Early Detection OverCTM test receiving Breakthrough Device Designation from the FDA. 2023 revenue guidance suggests an expected growth of approximately 20% over 2022.

Burning Rock Biotech Limited (NASDAQ: BNR) has announced plans to release its unaudited financial results for the fourth quarter and full year 2022 prior to the U.S. market opening on March 28, 2023. Following the results, management will host a conference call at 8:00 a.m. ET (8:00 p.m. Hong Kong time) to discuss the financial outcomes. The company focuses on next generation sequencing (NGS) technology in precision oncology, which includes therapy selection testing for late-stage cancer patients and early cancer detection now in clinical validation. Investors can pre-register for the conference call through the provided link.

Burning Rock Biotech Limited (NASDAQ: BNR) announced an expected 10% growth in full-year revenue for 2022, up from a previous estimate of 5%. This revision reflects better-than-anticipated fourth-quarter performance, despite a projected single-digit revenue decline in Q4 compared to 2021. Revenues from its central-lab and in-hospital segments are expected to decline by double digits, attributed to Covid-related disruptions. However, revenue from the pharma service segment is expected to grow at a triple-digit rate. The company will release its detailed Q4 and full-year results in March 2023, with current revenue estimates being preliminary and subject to change.

Burning Rock (NASDAQ/LSE: BNR), based in Irvine, California, has announced that its OverC™ Multi-Cancer Detection Blood Test (MCDBT) has been granted Breakthrough Device Designation by the US FDA, marking it as the third globally to receive this recognition. This designation supports the rapid development and review of medical devices for serious conditions like cancer. The OverC™ MCDBT targets early detection of multiple cancers, showing a 69.1% sensitivity and 98.9% specificity in preliminary studies. The technology aims to enhance early diagnosis and treatment efficiency, potentially improving patient survival rates.

Burning Rock Biotech (NASDAQ: BNR) reported Q3 2022 financial results with revenues of RMB154.6 million (US$21.7 million), a 22.1% increase year-over-year. Key growth areas include a 24% rise in in-hospital volumes despite Covid challenges and a significant increase in pharma R&D contracts, rising 267.4% to RMB15.0 million. However, net losses grew to RMB231.5 million and the company revised its full-year revenue guidance to approximately 5% growth due to ongoing Covid impacts. The new role of Chief Scientific Officer was also introduced for Shannon Chuai, effective November 2022.

Burning Rock Biotech Limited (NASDAQ: BNR) announced its American depositary shares (ADSs) have been admitted to the standard listing segment of the FCA and are now trading on the London Stock Exchange (LSE) as of November 1, 2022. This direct listing allows for full fungibility with existing ADSs on Nasdaq, with custodial links established for smooth cross-market trading. Burning Rock focuses on next-generation sequencing (NGS) for precision oncology, providing therapy selection testing and early cancer detection services.

Burning Rock Biotech Limited announces the approval of its Prospectus by the FCA, related to the Direct Listing of its American depositary shares (ADSs) on the London Stock Exchange (LSE) under the ticker BNR, effective November 1, 2022. This listing aims to enhance market access for its next generation sequencing technology in precision oncology. The company has submitted its Prospectus for inspection and it will remain fully fungible with ADSs listed on NASDAQ. As of August 31, 2022, Burning Rock reported total current debt of $21,099 thousand and total shareholders' equity of $223,199 thousand.

Burning Rock Biotech Limited (NASDAQ: BNR) announced its plan to release unaudited financial results for Q3 2022 on November 16, 2022, prior to U.S. market opening. The company anticipates reporting strong double-digit revenue growth year-over-year, despite ongoing challenges from COVID-19 lockdowns. A conference call will follow at 8:30 a.m. ET to discuss these results, with a live webcast available on the company's investor relations website. Burning Rock focuses on next-generation sequencing technology in precision oncology, providing testing for therapy selection and cancer detection.

Burning Rock Biotech Limited has announced its intention to pursue a direct listing of its American depositary shares (ADSs) on the London Stock Exchange (LSE). Following a prior press release, the FCA has approved the registration document related to this listing. The ADSs will continue to trade on the Nasdaq Global Market and will be fully fungible with LSE-listed ADSs. The company specializes in next generation sequencing for precision oncology, focusing on cancer testing and early detection.