Last night, BeiGene Ltd, a leader in innovative pharmaceuticals, released its third-quarter report for 2024. The company achieved operating revenue of 7.139 billion yuan (approximately $1.03 billion), marking a year-on-year increase of 26.9%. However, the net profit attributable to the parent company reported a loss of 809 million yuan, a decline of 160.4% compared to the same period last year.

This marks the first time the company's quarterly revenue has exceeded $1 billion. BeiGene attributed the increase in third-quarter revenue primarily to higher product sales compared to the same period last year. The decrease in net profit, on the other hand, was mainly due to a non-cash gain recognized from a settlement with Bristol-Myers Squibb (BMS) in the previous year.

It is worth noting that in the financial data for the first three quarters, the company has faced pressure in cash flow management, recording a net cash flow from operating activities of -1.841 billion yuan. The total R&D investment for the third quarter was 3.538 billion yuan, accounting for 49.55% of operating revenue, which is a decrease of 9 percentage points from the same period last year. Since hitting a low in early July, BeiGene’s stock price has increased by a cumulative 53.66%.

https://finance.eastmoney.com/a/202411133237590869.html