Financial Performance - Total revenue for Q3 2024 was $1,002 million, a 28% increase from $781 million in Q3 2023, primarily driven by BRUKINSA sales growth in the U.S. and Europe[15]. - Net product revenues for Q3 2024 were $993 million, up 67% from $595 million in Q3 2023, largely due to increased BRUKINSA sales[16]. - GAAP net loss for Q3 2024 was $121,350,000, compared to a net income of $215,413,000 in Q3 2023[30]. - The company reported an operating income of $66,000,000 on an adjusted basis for Q3 2024, an increase of $82,000,000 from the prior-year period[21]. - Adjusted income from operations was $65,630 thousand in Q3 2024, compared to a loss of $(16,339) thousand in Q3 2023, marking a 502% increase[3]. Sales Performance - BRUKINSA generated $690 million in global revenue for Q3 2024, with U.S. sales reaching $504 million (87% growth) and European sales totaling $97 million (217% growth) compared to the prior year[5]. - TEVIMBRA sales reached $163 million in Q3 2024, reflecting a 13% increase compared to the same period last year[6]. - Total revenues for Q3 2024 were $1,001,599,000, a 28% increase from $781,308,000 in Q3 2023[30]. - Product revenue for Q3 2024 was $993,447,000, up 67% from $595,290,000 in the prior-year period[30]. Expenses and Costs - Research and development expenses for Q3 2024 were $496,179,000, a 9% increase from $453,259,000 in Q3 2023[30]. - Selling, general and administrative expenses for Q3 2024 rose to $455,223,000, a 24% increase compared to $365,708,000 in Q3 2023[30]. - Total operating expenses for Q3 2024 were $951,402,000, a 16% increase from $818,967,000 in Q3 2023[30]. - GAAP cost of sales for products was $170,462, up from $96,309 in the previous year[35]. - Adjusted operating expenses for the three months ended September 30, 2024, were $786,282, compared to $704,639 in the same period last year[35]. Cash Flow and Assets - Cash provided by operations for Q3 2024 was $188,000,000, an increase of $267,000,000 over the prior-year period[24]. - Net cash provided by operating activities for the three months ended September 30, 2024, was $188,369, compared to a net cash used of $(78,150) in the same period last year[32]. - Cash, cash equivalents, and restricted cash at the beginning of the period was $2,617,931, down from $3,421,574[32]. - Cash, cash equivalents, and restricted cash at the end of the period was $2,713,428, down from $3,080,892[32]. - The company’s total assets as of September 30, 2024, were $5,830,860,000, compared to $5,805,275,000 as of December 31, 2023[31]. Liabilities - The company’s total liabilities increased to $2,394,787,000 as of September 30, 2024, from $2,267,948,000 as of December 31, 2023[31]. Operational Highlights - The company is on track to enter 10+ new molecular entities (NMEs) into clinical trials by the end of 2024, with four NMEs entering the clinic in Q3 2024[1]. - The five-year follow-up results from the Phase 3 SEQUOIA study showed an 80% progression-free survival rate for BRUKINSA in treatment-naïve CLL patients[5]. - The company has strengthened its global leadership team with new appointments, enhancing its operational capabilities[14]. Non-GAAP Measures - The company maintains a non-GAAP policy to provide additional insights into its operating performance, excluding non-cash items and special events[33].

Group 1 - BeiGene, Ltd. (NASDAQ: BGNE) continues to perform well with its PD-1 inhibitor drug TEVIMBRA (tislelizumab) for treating patients with solid tumors [2] - The company is in the process of possibly expanding its market presence and product offerings [2] Group 2 - The Biotech Analysis Central service provides in-depth analysis of various pharmaceutical companies, including a library of over 600 biotech investing articles and a model portfolio of small and mid-cap stocks [2] - The service aims to assist healthcare investors in making informed decisions through live chat and a range of analysis and news reports [2]

Group 1: BeiGene Overview - BeiGene, Ltd. (BGNE) shares increased by 5.3% to close at $246.04, with a notable trading volume compared to normal sessions, and a total gain of 22% over the past four weeks [1] - The rise in stock price is linked to positive investor sentiment regarding BeiGene's marketed drug portfolio, which includes three approved medicines: Brukinsa, Tevimbra, and Partruvix, along with a robust pipeline of investigational candidates [1] - The company is projected to report a quarterly loss of $0.94 per share, reflecting a year-over-year decline of 146.8%, while revenues are expected to reach $976.82 million, marking a 25% increase from the previous year [1] Group 2: Earnings and Stock Performance - Trends in earnings estimate revisions are correlated with near-term stock price movements, and BeiGene's consensus EPS estimate has remained unchanged over the last 30 days [2] - The stock's price typically does not continue to rise without trends in earnings estimate revisions, indicating the need to monitor BGNE for potential future strength [2] - BeiGene holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [2] Group 3: Industry Comparison - BeiGene is part of the Zacks Medical - Biomedical and Genetics industry, which includes other companies like Foghorn Therapeutics Inc. (FHTX), which saw a 4.7% increase to $7.83 but has returned -7.4% over the past month [2] - Foghorn Therapeutics has a consensus EPS estimate that has changed by +2.5% to -$0.42, representing a 23.5% decline from the previous year [3] - Foghorn Therapeutics also holds a Zacks Rank of 3 (Hold), similar to BeiGene [3]

Financial Reporting - BeiGene, Ltd. filed its 2024 Interim Report for the six months ended June 30, 2024, with the STAR Market of the Shanghai Stock Exchange[3] - The STAR Interim Report includes financial information prepared in accordance with PRC GAAP, which differs from U.S. GAAP[4] - The report contains additional financial data for the Reporting Period, including research and development expenses allocated by key products[4] - The financial information regarding research and development expenses is attached as Exhibit 99.1 to the Current Report[4] - The report was signed by Chan Lee, Senior Vice President and General Counsel of BeiGene, Ltd.[8] Availability - The STAR Interim Report is available in Chinese on the Shanghai Stock Exchange's website[5]

分组1 - BeiGene, Ltd. (BGNE) shares have increased by 28.8% over the past four weeks, closing at $202.17, with a mean price target of $258.45 indicating a potential upside of 27.8% [1] - The mean estimate consists of 11 short-term price targets with a standard deviation of $55.54, suggesting variability in analyst predictions; the lowest estimate is $152 (24.8% decline), while the highest is $345 (70.7% increase) [1] - Analysts show strong agreement on BGNE's earnings prospects, with a 32.2% increase in the Zacks Consensus Estimate for the current year, indicating positive revisions without any negative adjustments [5][6] 分组2 - The consensus price target is often viewed with skepticism, as analysts may set overly optimistic targets due to business incentives, which can mislead investors [3][4] - A low standard deviation in price targets indicates a high degree of agreement among analysts regarding the stock's price movement, serving as a starting point for further research [4] - BGNE holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, suggesting strong potential for upside [6]

Core Viewpoint - BeiGene, Ltd. (BGNE) is showing potential for a bullish breakout as it has reached a key support level and experienced a "golden cross" in its moving averages [1] Technical Analysis - BGNE's 50-day simple moving average has crossed above its 200-day simple moving average, indicating a bullish signal known as a "golden cross" [1] - A golden cross typically suggests a bullish breakout is likely, formed when a stock's short-term moving average surpasses a longer-term moving average [1] - The three stages of a golden cross include a downtrend that bottoms out, the crossover of moving averages, and continued upward momentum [1] - The occurrence of a golden cross contrasts with a "death cross," which signals potential bearish movement [1] Performance Metrics - BGNE has experienced a rally of 19.3% over the past four weeks, indicating strong upward momentum [1] - The company currently holds a 2 (Buy) rating on the Zacks Rank, further supporting the bullish outlook [1] Earnings Outlook - The positive earnings outlook for BGNE strengthens the bullish case, as no earnings estimates have been cut for the current quarter [1]

Group 1: Stock Performance and Price Targets - Shares of BeiGene, Ltd. (BGNE) have increased by 20.1% over the past four weeks, closing at $182.76, with a mean price target of $257.41 indicating a potential upside of 40.9% [1] - The mean estimate consists of 11 short-term price targets with a standard deviation of $56.75, suggesting variability in analyst predictions; the lowest estimate is $161 (11.9% decline), while the highest is $345 (88.8% increase) [1] Group 2: Analyst Sentiment and Earnings Estimates - There is strong agreement among analysts regarding BeiGene's ability to report better earnings, with five estimates revised higher in the last 30 days and no negative revisions, leading to a 39.2% increase in the Zacks Consensus Estimate [5] - The company currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [6] Group 3: Price Target Reliability - Analysts' price targets can often mislead investors, as empirical research indicates that they rarely predict actual stock price movements accurately [3] - A low standard deviation in price targets indicates a high degree of agreement among analysts, which can serve as a starting point for further research into fundamental drivers [4]

Investment Rating - The report maintains a "Buy" rating for BeiGene, with a target price adjustment from $269.73 to $288.93 [2][18]. Core Insights - BeiGene's product sales exceeded expectations, recording $921 million in Q2 2024, representing a 23% quarter-over-quarter growth and a 66% year-over-year increase [1][2]. - The company achieved non-GAAP profitability, with a significant reduction in net loss to $120 million in Q2 2024 from $251 million in Q1 2024 [2][3]. - Strong sales momentum for Zanubrutinib (Zanu) was noted, with Q2 sales reaching $637 million, a 30% increase quarter-over-quarter and a 107% increase year-over-year [1][2]. Financial Performance - Total product sales for the first half of 2024 reached $1.67 billion, accounting for 51.4% of the previously estimated total for fiscal year 2024 [1][2]. - The gross profit margin increased to 85.0% in Q2 2024 from 83.3% in Q1 2024, driven by a higher proportion of high-margin sales [2][3]. - The SG&A ratio decreased to 48% in Q2 2024 from 57% in Q1 2024, indicating improved operational efficiency [2][3]. Market Position and Growth Potential - Zanu captured approximately 24% of the global BTK inhibitor market in Q2 2024, up from 20% in Q1 2024, with expectations to reach $2.6 billion in sales for FY24, a 102% year-over-year increase [2][3]. - The report highlights the potential of upcoming clinical trials for Sonrotoclax and BGB-16673, which are expected to drive future growth [2][3]. Future Projections - The company is projected to achieve breakeven in FY25E, supported by strong sales growth and improving operating margins [2][3]. - Revenue estimates for FY24E, FY25E, and FY26E are $3.87 billion, $5.49 billion, and $6.99 billion, respectively, with a focus on continued product sales growth [3][12].

Investment Rating - Maintain BUY rating for BeiGene, reflecting strong product growth momentum and near-term profitability [1][2][9] Core Insights - BeiGene's product sales in 2Q24 reached US$921 million, a 23% increase quarter-over-quarter and a 66% increase year-over-year, exceeding expectations [1] - The company achieved non-GAAP profitability with a net loss narrowed to US$120 million in 2Q24, compared to US$251 million in 1Q24, marking a significant milestone [1] - Forecasts indicate that BeiGene's zanubrutinib (zanu) will generate US$2.6 billion in sales for FY24, representing a 102% year-over-year increase, with peak sales projected at US$5.6 billion by 2031 [1] Summary by Sections Sales Performance - Total product sales for 1H24 reached US$1.67 billion, representing 51.4% of the previous FY24 estimate [1] - Zanubrutinib sales increased by 30% quarter-over-quarter and 107% year-over-year to US$637 million, capturing approximately 24% of the global BTK inhibitor market [1][2] Profitability Metrics - Gross profit margin improved to 85.0% in 2Q24 from 83.3% in 1Q24, driven by high-margin product sales and economies of scale [1] - The SG&A ratio decreased to 48% in 2Q24 from 57% in 1Q24, while the R&D ratio shrank to 49% from 62% in the previous quarter [1] Future Growth Potential - The company is advancing clinical trials for sonrotoclax and BGB-16673, which are expected to become future blockbusters [1] - Phase 3 trials for sonrotoclax in R/R CLL and R/R MCL are anticipated to start in late 2024 and early 2025, respectively [1] Financial Projections - Revenue projections for FY24E are set at US$3.87 billion, with net profit expected to turn positive in FY25E at US$53.4 million [2][10] - Target price raised from US$269.73 to US$288.93, indicating a potential upside of 57.9% from the current price of US$183.03 [2][9]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37686 BE ...