Core Viewpoint - Burning Rock Biotech Limited reported a decrease in total revenues for Q2 2024, primarily due to a transition from central-lab to in-hospital testing, although the in-hospital segment showed double-digit growth [3][4]. Business Updates - The company presented study results on small-cell lung cancer and colorectal cancer at ASCO in June 2024, focusing on the efficacy and safety of high-dose Almonertinib and individualized tumor-informed circulating tumor DNA analysis [2]. - A new collaboration for companion diagnostics was announced with Bayer in China [2]. Financial Results for Q2 2024 - Total revenues were RMB 135.5 million (US$ 18.7 million), a 7.3% decrease from RMB 146.3 million in Q2 2023 [3]. - In-hospital business revenue increased by 11.2% to RMB 59.9 million (US$ 8.2 million) from RMB 53.8 million in Q2 2023 [4]. - Central laboratory business revenue decreased by 26.4% to RMB 48.8 million (US$ 6.7 million) from RMB 66.2 million in Q2 2023 [4]. - Pharma research and development services revenue increased by 2.6% to RMB 26.9 million (US$ 3.7 million) from RMB 26.2 million in Q2 2023 [4]. Cost and Profitability - Cost of revenues decreased by 12.5% to RMB 40.1 million (US$ 5.5 million) from RMB 45.8 million in Q2 2023 [5]. - Gross profit was RMB 95.4 million (US$ 13.1 million), a 5.0% decrease from RMB 100.4 million in Q2 2023, with a gross margin of 70.4% [6]. - Non-GAAP gross profit was RMB 101.9 million (US$ 14.0 million), a 6.8% decrease from RMB 109.4 million in Q2 2023, with a non-GAAP gross margin of 75.2% [7]. Operating Expenses - Operating expenses decreased by 12.5% to RMB 206.7 million (US$ 28.4 million) from RMB 236.1 million in Q2 2023, driven by budget control measures and headcount reduction [7]. - Research and development expenses decreased by 32.2% to RMB 65.0 million (US$ 8.9 million) from RMB 95.8 million in Q2 2023 [8]. - Selling and marketing expenses decreased by 31.0% to RMB 48.9 million (US$ 6.7 million) from RMB 70.8 million in Q2 2023 [8]. - General and administrative expenses increased by 33.5% to RMB 92.8 million (US$ 12.8 million) from RMB 69.5 million in Q2 2023, primarily due to increased amortized expenses on share-based compensation [8]. Net Loss and Cash Position - The net loss for Q2 2024 was RMB 108.0 million (US$ 14.9 million), compared to RMB 131.2 million in Q2 2023 [9]. - As of June 30, 2024, cash, cash equivalents, restricted cash, and short-term investments totaled RMB 533.0 million (US$ 73.3 million) [9].

Core Viewpoint - Burning Rock Biotech Limited intends to delist its American Depositary Shares (ADSs) from the London Stock Exchange (LSE) due to low trading volume and associated costs, with the delisting expected to take effect around September 18, 2024 [1]. Group 1 - The company will submit requests to the LSE for cancellation of trading admission of its ADSs and to the UK Financial Conduct Authority for cancellation of the ADSs listing on the Official List [1]. - The decision for delisting is driven by sustained low trading volume and liquidity in the ADSs on the LSE [1]. - Following the delisting, the ADSs will continue to be traded on the Nasdaq Global Market [2]. Group 2 - Burning Rock Biotech Limited focuses on next generation sequencing (NGS) technology in precision oncology, offering NGS-based therapy selection testing for late-stage cancer patients and NGS-based cancer early detection [3]. - The company's early detection technology has progressed from proof-of-concept research and development into the clinical validation stage [3].

Core Points - Burning Rock Biotech Limited has regained compliance with Nasdaq's minimum bid price requirement after maintaining a closing bid price of $1.00 per share for 10 consecutive business days [1][3] - The company was previously notified on December 29, 2023, that it was not in compliance due to its American depositary shares (ADSs) closing below the minimum bid price for 30 consecutive business days [2] - To regain compliance, the company adjusted the ratio of its ADSs from one ADS representing one Class A ordinary share to one ADS representing ten Class A ordinary shares, effective May 15, 2024 [2] Company Overview - Burning Rock focuses on next generation sequencing (NGS) technology in precision oncology, offering NGS-based therapy selection testing for late-stage cancer patients and cancer early detection services [4] - The company's mission is to guard life via science, and it has progressed its early detection services beyond proof-of-concept R&D into the clinical validation stage [4]

GUANGZHOU, China, May 30, 2024 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ:BNR, the "Company" or "Burning Rock"))) has recently announced a collaboration with Bayer to develop next-generation sequencing (NGS)-based companion diagnostic assays (CDx), aiming to provide diagnostic methods, to enable treatment choice for patients with cancer in China, while driving innovation and development in cancer therapy. This collaboration will focus on the development of companion diagnostic products in Chin ...

GUANGZHOU, China, May 30, 2024 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR, the “Company” or “Burning Rock”) has recently announced a collaboration with Bayer to develop next-generation sequencing (NGS)-based companion diagnostic assays (CDx), aiming to provide diagnostic methods, to enable treatment choice for patients with cancer in China, while driving innovation and development in cancer therapy. This collaboration will focus on the development of companion diagnostic prod ...

Burning Rock Biotech Limited (NASDAQ:BNR) Q1 2023 Earnings Conference Call May 29, 2024 8:00 AM ET Company Participants Yusheng Han - Founder and Chief Executive Officer Leo Li - Chief Financial Officer Conference Call Participants Operator Good day and thank you for standing by. Welcome to the Burning Rock’s 2024 First Quarter Earnings Conference Call. At this time all participants are in listen-only mode. Please be advised that this conference is being recorded. Before we begin, I'd like to remind you tha ...

Financial Performance & Efficiency - Burning Rock's Q1 2024 revenues reached RMB 125.6 million, a 4% increase QoQ, but a 12% decrease YoY[33] - Non-GAAP gross profit for Q1 2024 was RMB 93.0 million, a 7% increase QoQ, but a 14% decrease YoY[33] - The company is driving sales efficiency, expecting selling expenses to be below 40% going forward[20] - Non-GAAP general and administrative expenses decreased from RMB 51 million in Q1 2023 to RMB 38 million in Q1 2024, a 26% decrease[30,31] - The company's commercial operation (excluding R&D expenses) reached profitability in Q1 2024[32] MRD & Early Detection Technology - Burning Rock's MRD assay, brPROPHET™, demonstrated a median lead time of 299 days to radiological recurrence in NSCLC[43] - In a study, brPROPHET™ detected preoperative ctDNA in 97% (113/117) of colorectal cancer patients[136,141] - For early cancer detection, the THUNDER study (N=2,385) completed with 98.9% specificity and 69.1% sensitivity, top-2 predicted origin accuracy of 91.7% (independent validation cohort)[67,79] - The PROMISE study demonstrated 83.7% sensitivity and 98.3% specificity for 9 cancers[103] Therapy Selection - Burning Rock's liquid biopsy product, Lung Plasma v4 (BRP2), demonstrated globally competitive performance in an analytical validation study[150,160]

GUANGZHOU, China, May 29, 2024 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ:BNR, the "Company" or "Burning Rock"))), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended March 31, 2024. Recent Business Updates Early Detection THUNDER study for 6-cancer test was included in the Diagnosis and Treatment Guidelines for Primary Liver Cancer (2024 Edition) and the Expert Con ...

GUANGZHOU, China, May 29, 2024 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR, the “Company” or “Burning Rock”), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended March 31, 2024. Recent Business Updates Early Detection THUNDER study for 6-cancer test was included in the Diagnosis and Treatment Guidelines for Primary Liver Cancer (2024 Edition) and th ...