BeiGene/BeOne results, business updates

 

• Total global revenues of $1.1 billion and $3.8 billion for the fourth quarter and full year, increases of 78% and 55%, respectively; narrowed GAAP operating loss and achieved full-year positive non-GAAP operating income
• Global BRUKINSA revenues of $828 million and $2.6 billion for the fourth quarter and full year, increases of 100% and 105%, respectively; progressed pivotal-stage programs for BCL2 inhibitor sonrotoclax and BTK CDAC BGB-16673
• Advanced six and 13 New Molecular Entities (NMEs) into the clinic in the fourth quarter and full year, respectively; anticipate multiple data readouts for innovative solid tumor programs in 1H 2025
• Full year 2025 revenue guidance of $4.9 billion to $5.3 billion, reaffirm anticipated positive GAAP operating income and cash flow generation from operations in 2025

“Our fourth quarter and full year results demonstrate our tremendous growth as a global oncology powerhouse, reinforced by the continued success of BRUKINSA and the development of one of the most prolific solid tumor pipelines in oncology with multiple data readouts expected this year,” said John V. Oyler, Co-Founder, Chairman, and CEO at BeiGene. “BRUKINSA is now the unequivocal leader in new CLL patient starts in the U.S., holds the broadest label of any BTK inhibitor and serves as the cornerstone of our hematology franchise, showing immense promise as a backbone alongside our late stage BCL2 inhibitor, sonrotoclax, and our potential first-in-class BTK CDAC. We are also building future solid tumor franchises in breast, lung, and gastrointestinal cancers by leveraging our platforms in multi-specific antibodies, protein degraders and antibody-drug conjugates. 2025 marks an inflection point as we anticipate achieving positive GAAP operating income and operating cash flow alongside our intention to change our name to BeOne with our new NASDAQ ticker, ONC.”

Full Year 2025 Guidance

BeiGene’s financial guidance is summarized below:

				FY 20251
Total Revenue				$4.9 billion to $5.3 billion
GAAP Operating Expenses (R&D and SG&A)				$4.1 billion to $4.4 billion
Additional:		GAAP Gross Margin Percentage in mid-80% range
		Positive Full Year GAAP Operating Income
		Generation of Positive Cash Flow from Operations

1 Does not assume any potential new, material business development activity or unusual/non-recurring items. Assumes January 31, 2025 foreign exchange rates.

BeiGene’s total revenue guidance for full year 2025 of $4.9 billion to $5.3 billion includes expectations for strong revenue growth driven by BRUKINSA’s U.S. leadership position and continued global expansion in both Europe and other important rest of world markets. Gross margin percentage is expected to be in the mid-80% range due to mix and production efficiencies as compared to 2024. BeiGene’s guidance for combined operating expenses on a GAAP basis includes expectations of investment to support growth in both commercial and research at a pace that continues to deliver meaningful operating leverage. Non-GAAP operating expenses, which exclude costs related to share-based compensation, depreciation and amortization expense, are expected to track with GAAP operating expenses, with reconciling items unchanged from existing practice. Operating expense guidance does not assume any potential new, material business development activity or unusual/non-recurring items.

Conference Call and Webcast

The Company’s earnings conference call for the fourth quarter and full year 2024 will be broadcast via webcast at 8:00 a.m. ET on Thursday, February 27, 2025, and will be accessible through the Investors section of BeiGene’s website, www.beigene.com. Supplemental information in the form of a slide presentation and a replay of the webcast will also be available.

https://www.businesswire.com/news/home/20250227911272/en/BeiGene-Announces-Fourth-Quarter-and-Full-Year-2024-Financial-Results-and-Business-Updates