Beigene (06160) achieved strong growth in full-year performance in 2024, with total global revenue reaching $3.81 billion, a year-on-year increase of 55%.

BEIGENE (06160) announced its financial performance for the fourth quarter and full year of 2024. In the fourth quarter of 2024, the company's global total revenue reached $1.128 billion, a year-on-year increase of 78%. Adjusted operating profit was $78.603 million, a year-on-year turnaround from loss to profit. GAAP research and development expenses were $542 million, a 10% increase from the previous year. For the full year of 2024, the company's global total revenue reached $3.81 billion, a 55% increase year-on-year. Adjusted operating profit was $453.56 million, a year-on-year turnaround from loss to profit. GAAP operating losses continued to narrow, achieving positive full-year non-GAAP operating profit. GAAP research and development expenses were $1.953 billion, a 10% increase year-on-year. For the fourth quarter and full year of 2024, both GAAP and adjusted research and development expenses increased year-on-year, mainly due to advancing preclinical projects to clinical stages and progressing early clinical projects to late-stage development. In the fourth quarter and full year of 2024, upfront and milestone payments related to in-licensed assets were $63 million and $114 million, respectively, compared to $31.8 million and $46.8 million in the same period last year. The global sales of BAYEDE in the fourth quarter of 2024 reached $828 million, a 100% year-on-year increase, and the full-year global sales reached $2.6 billion, a 105% year-on-year increase. The BCL2 inhibitor sonortoclax and BTK CDACBGB-16673 have progressed to critical stages. In the fourth quarter, 6 new molecular entities (NMEs) entered clinical development, and a total of 13 for the year; it is expected that several innovative solid tumor projects will have data readouts in the first half of 2025. The company's full-year revenue guidance for 2025 is $4.9 billion to $5.3 billion, while also reiterating expectations for positive GAAP operating profit and positive cash flow from operating activities. The announcement stated, "The strong growth of the company's performance in the fourth quarter and full year highlights our strength as a global leader in oncology treatment. The ongoing success of BAYEDE, coupled with one of the most comprehensive solid tumor pipelines in the industry, further consolidates this leading position. Multiple data readouts are expected later this year." BEIGENE Co-founder, Chairman, and CEO John Oler said, "Currently, BAYEDE is in the absolute leading position in the treatment of new patients with chronic lymphocytic leukemia (CLL) in the United States and has the broadest indications among all BTK inhibitors. As the cornerstone drug in the company's hematology field, BAYEDE demonstrates tremendous potential for combination therapy with late-stage pipeline BCL2 inhibitor sonortoclax and potential first-in-class BTKCDAC. At the same time, we are leveraging our diverse research and development platform, including bispecific antibodies, protein degraders, and antibody-drug conjugates, to accelerate our presence in the treatment areas of breast cancer, lung cancer, and gastrointestinal cancers. 2025 is a key inflection point for the company, as we expect to achieve positive operating profit and positive operating cash flow under Generally Accepted Accounting Principles (GAAP) this year, and we plan to adopt the new English company name BeOne and have already switched to the new stock code ONC on NASDAQ."