GUANGZHOU, China, April 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 technology in the field of precision oncology, announces that on April 29, 2024 it filed its Annual Report on Form 20-F for the year ended December 31, 2023 (the "Form 20-F") with the U.S. Securities and Exchange Commission ("SEC"). The Form 20-F is available for viewing on the SEC website at www.sec.gov and also ...

GUANGZHOU, China, April 26, 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 announced that it will change the ratio of its American depositary shares (the "ADSs") to Class A ordinary shares from one (1) ADS representing one (1) Class A ordinary share to one (1) ADS representing ten (10) Class A ordinary shares (the "ADS Ratio Cha ...

[Report Overview](index=1&type=section&id=Report%20Overview) [Company Information](index=1&type=section&id=Company%20Information) Burning Rock Biotech Limited reported Q4 and FY2023 financial results, emphasizing NGS technology in precision oncology - Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR) released Q4 and FY2023 financial results[1](index=1&type=chunk) - The company focuses on next-generation sequencing (NGS) technology applications in precision oncology[1](index=1&type=chunk) [2023 Business Overview and Recent Updates](index=1&type=section&id=2023%20Business%20Overview%20and%20Recent%20Updates) [Corporate Updates](index=1&type=section&id=Corporate%20Updates) The company completed profit-oriented organizational optimization and is actively pursuing profitability initiatives - The company completed profit-oriented organizational optimization, and profitability building is underway[2](index=2&type=chunk) [Early Detection](index=1&type=section&id=Early%20Detection) OverC™ MCDBT received dual breakthrough device designations from US FDA and China NMPA in 2023, a global first - OverC™ Multi-Cancer Detection Blood Test (MCDBT) received US FDA breakthrough device designation in January 2023 and China NMPA breakthrough device designation in October 2023[2](index=2&type=chunk) - This test is the only product globally to receive dual breakthrough device designations from both FDA and NMPA[2](index=2&type=chunk) [Therapy Selection and Minimal Residual Disease (MRD)](index=1&type=section&id=Therapy%20Selection%20and%20Minimal%20Residual%20Disease%20%28MRD%29) Progress in advanced breast cancer treatment was published in NEJM, with new CDx products developed with AstraZeneca - Precision oncology diagnostic products supported advancements in advanced breast cancer treatment, with research results published in The New England Journal of Medicine in June 2023[3](index=3&type=chunk) - Partnered with AstraZeneca in China to announce the development of new breast cancer and prostate cancer companion diagnostic (CDx) products[3](index=3&type=chunk) [Pharma Services](index=1&type=section&id=Pharma%20Services) Pharma services grew, securing a CDx master service agreement with Boehringer Ingelheim and a 24% increase in new contracts - Signed a master service agreement for oncology companion diagnostics (CDx) with Boehringer Ingelheim, focusing on advancing clinical trials for its MDM2-p53 antagonist brigimadlin and CDx product development[3](index=3&type=chunk) - New contracts signed in 2023 totaled **RMB 310 million**, a **24% increase** from 2022[3](index=3&type=chunk) [Fourth Quarter 2023 Financial Results](index=1&type=section&id=Fourth%20Quarter%202023%20Financial%20Results) [Revenues_Q4_2023](index=1&type=section&id=Revenues_Q4_2023) Q4 2023 total revenue decreased 14.9% YoY, driven by declines in central lab and in-hospital segments, offset by pharma R&D growth 2023 Q4 Revenue Overview | Revenue Source | Q4 2023 (RMB Million) | YoY Change | Primary Reason | | :--- | :--- | :--- | :--- | | Total Revenue | 121.1 | -14.9% | | | Central Lab Business | 51.3 | -28.7% | Focus on in-hospital business, reduced test volume | | In-hospital Business | 28.8 | -32.3% | One-time adjustment by two hospitals (excluding which, YoY decrease of 1%) | | Pharma R&D Services | 41.0 | +47.8% | Increased development and testing services for pharma clients | [Cost of Revenues and Gross Profit_Q4_2023](index=2&type=section&id=Cost%20of%20Revenues%20and%20Gross%20Profit_Q4_2023) Q4 2023 cost of revenues remained stable, but gross profit fell 22.9% to 64.5% margin, with varied channel performance 2023 Q4 Cost of Revenues and Gross Profit | Metric | Q4 2023 (RMB Million) | Q4 2022 (RMB Million) | YoY Change | | :--- | :--- | :--- | :--- | | Cost of Revenues | 43.0 | 41.0 | Relatively stable | | Gross Profit | 78.1 | 101.3 | -22.9% | | Gross Margin | 64.5% | 71.2% | -6.7 percentage points | | Non-GAAP Gross Profit | 87.1 | 110.4 | -21.1% | | Non-GAAP Gross Margin | 71.9% | 77.6% | -5.7 percentage points | - Central lab business gross margin increased to **81.7%** due to reduced inventory write-downs; in-hospital business gross margin decreased to **44.8%** due to one-time adjustments by two hospitals (excluding which, **65.0%**); pharma R&D services gross margin decreased to **56.9%** due to reduced testing volume for high-margin projects[6](index=6&type=chunk) [Operating Expenses_Q4_2023](index=2&type=section&id=Operating%20Expenses_Q4_2023) Q4 2023 operating expenses decreased 23.3% YoY due to budget controls and personnel optimization, reducing R&D, sales, and G&A 2023 Q4 Operating Expenses | Expense Type | Q4 2023 (RMB Million) | Q4 2022 (RMB Million) | YoY Change | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | Total Operating Expenses | 244.4 | 318.7 | -23.3% | Budget control measures, including headcount reduction | | R&D Expenses | 73.1 | 100.8 | -27.5% | Reduced R&D expenditures for tests, lower employee costs due to R&D department restructuring | | Sales and Marketing Expenses | 49.8 | 85.2 | -41.5% | Lower employee costs due to sales department restructuring, reduced marketing and conference expenses | | General and Administrative Expenses | 121.5 | 132.7 | -8.4% | Reduced professional service fees | [Net Loss and Cash Position_Q4_2023](index=2&type=section&id=Net%20Loss%20and%20Cash%20Position_Q4_2023) Q4 2023 net loss narrowed to RMB 162.2 million, with period-end cash, cash equivalents, and restricted cash at RMB 615.2 million 2023 Q4 Net Loss and Cash Position | Metric | Q4 2023 (RMB Million) | Q4 2022 (RMB Million) | | :--- | :--- | :--- | | Net Loss | 162.2 | 216.2 | | Cash, Cash Equivalents, Restricted Cash (End of Period) | 615.2 | - | [Full Year 2023 Financial Results](index=2&type=section&id=Full%20Year%202023%20Financial%20Results) [Revenues_FY_2023](index=2&type=section&id=Revenues_FY_2023) Full year 2023 total revenue decreased 4.6% YoY, with central lab decline offset by growth in in-hospital and pharma R&D services Full Year 2023 Revenue Overview | Revenue Source | Full Year 2023 (RMB Million) | Full Year 2022 (RMB Million) | YoY Change | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | 537.4 | 563.2 | -4.6% | | | Central Lab Business | 232.8 | 314.8 | -26.0% | Focus on in-hospital business, reduced test volume | | In-hospital Business | 188.7 | 175.3 | +7.6% | Demand from ten new partner hospitals | | Pharma R&D Services | 115.9 | 73.2 | +58.4% | Increased development and testing services for pharma clients | [Cost of Revenues and Gross Profit_FY_2023](index=3&type=section&id=Cost%20of%20Revenues%20and%20Gross%20Profit_FY_2023) Full year 2023 cost of revenues decreased 4.9%, gross profit fell 4.4%, but gross margin slightly improved to 67.6% Full Year 2023 Cost of Revenues and Gross Profit | Metric | Full Year 2023 (RMB Million) | Full Year 2022 (RMB Million) | YoY Change | | :--- | :--- | :--- | :--- | | Cost of Revenues | 174.2 | 183.2 | -4.9% | | Gross Profit | 363.2 | 380.0 | -4.4% | | Gross Margin | 67.6% | 67.5% | +0.1 percentage points | | Non-GAAP Gross Profit | 399.4 | 411.0 | -2.8% | | Non-GAAP Gross Margin | 74.3% | 73.0% | +1.3 percentage points | [Operating Expenses_FY_2023](index=3&type=section&id=Operating%20Expenses_FY_2023) Full year 2023 operating expenses significantly decreased 24.1% YoY due to restructuring and efficiency gains across departments Full Year 2023 Operating Expenses | Expense Type | Full Year 2023 (RMB Million) | Full Year 2022 (RMB Million) | YoY Change | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | Total Operating Expenses | 1,032.5 | 1,360.4 | -24.1% | | | R&D Expenses | 347.0 | 421.9 | -17.7% | Reduced R&D expenditures for tests, royalties and license fees, lower employee costs due to R&D department restructuring | | Sales and Marketing Expenses | 247.7 | 370.3 | -33.1% | Lower employee costs due to sales department restructuring, reduced marketing, conference, and entertainment expenses | | General and Administrative Expenses | 437.8 | 568.3 | -23.0% | Reduced professional service fees, lower allowance for doubtful accounts, lower employee costs due to administrative department restructuring | [Net Loss_FY_2023](index=3&type=section&id=Net%20Loss_FY_2023) Full year 2023 net loss narrowed to RMB 653.7 million, an improvement from 2022 Full Year 2023 Net Loss | Metric | Full Year 2023 (RMB Million) | Full Year 2022 (RMB Million) | | :--- | :--- | :--- | | Net Loss | 653.7 | 971.2 | [2024 Financial Guidance](index=3&type=section&id=2024%20Financial%20Guidance) The company anticipates achieving break-even in H1 2024, based on non-GAAP gross profit less non-GAAP SG&A expenses - The company expects to achieve break-even in the first half of 2024 (measured by non-GAAP gross profit minus non-GAAP sales, general, and administrative expenses)[14](index=14&type=chunk) [Company Information and Disclosures](index=4&type=section&id=Company%20Information%20and%20Disclosures) [About Burning Rock](index=4&type=section&id=About%20Burning%20Rock) Burning Rock's mission is to guard life with science, focusing on NGS in precision oncology, including CDx and early cancer screening - Burning Rock's mission is to guard life with science, focusing on next-generation sequencing (NGS) technology applications in precision oncology[17](index=17&type=chunk) - The company's business includes NGS companion diagnostic tests for advanced cancer patients and clinically validated early cancer screening[17](index=17&type=chunk) [Safe Harbor Statement](index=4&type=section&id=Safe%20Harbor%20Statement) This press release contains forward-looking statements with inherent risks and uncertainties, and the company disclaims any update obligation - This press release contains forward-looking statements, involving known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those stated[18](index=18&type=chunk) - The company undertakes no obligation to update any forward-looking statements, unless required by applicable law[18](index=18&type=chunk) [Non-GAAP Measures Explanation](index=4&type=section&id=Non-GAAP%20Measures%20Explanation) Non-GAAP gross profit and margin are used as supplementary metrics, excluding D&A for comparable period performance views - The company uses non-GAAP gross profit and non-GAAP gross margin as supplementary metrics to evaluate operating performance[19](index=19&type=chunk) - Non-GAAP gross profit is defined as gross profit excluding depreciation and amortization expenses, and non-GAAP gross margin is defined as gross margin excluding depreciation and amortization expenses[19](index=19&type=chunk) - These non-GAAP financial measures are intended to reflect the company's ongoing business for more meaningful period-to-period comparisons[20](index=20&type=chunk) [Selected Operating and Financial Data](index=5&type=section&id=Selected%20Operating%20and%20Financial%20Data) [Selected Operating Data (In-hospital Channel)](index=5&type=section&id=Selected%20Operating%20Data%20%28In-hospital%20Channel%29) As of December 31, 2023, total partner hospitals increased to 87, with 59 signed, indicating continued in-hospital channel expansion Number of Partner Hospitals in In-hospital Channel | Metric | December 31, 2022 | December 31, 2023 | | :--- | :--- | :--- | | Partner Hospitals Under Construction | 28 | 28 | | Signed Partner Hospitals | 49 | 59 | | Total Partner Hospitals | 77 | 87 | [Selected Financial Data (Quarterly Revenues, Gross Profit, Share-based Compensation)](index=6&type=section&id=Selected%20Financial%20Data%20%28Quarterly%20Revenues%2C%20Gross%20Profit%2C%20Share-based%20Compensation%29) This section details quarterly revenues, gross profit, and share-based compensation for 2022-2023 across business channels Quarterly Revenues (RMB Thousand) | Revenue Source | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :--- | :--- | :--- | :--- | :--- | :--- | | Central Lab Channel | 71,970 | 61,804 | 66,239 | 53,481 | 51,288 | | In-hospital Channel | 42,526 | 51,561 | 53,835 | 54,496 | 28,809 | | Pharma R&D Services Channel | 27,741 | 29,151 | 26,194 | 19,589 | 40,988 | | **Total Revenue** | **142,237** | **142,516** | **146,268** | **127,566** | **121,085** | Quarterly Gross Profit (RMB Thousand) | Gross Profit Source | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :--- | :--- | :--- | :--- | :--- | :--- | | Central Lab Channel | 54,507 | 48,090 | 51,876 | 41,487 | 41,886 | | In-hospital Channel | 26,999 | 34,409 | 33,353 | 35,459 | 12,910 | | Pharma R&D Services Channel | 19,757 | 16,273 | 15,193 | 8,974 | 23,317 | | **Total Gross Profit** | **101,263** | **98,772** | **100,422** | **85,920** | **78,113** | Quarterly Share-based Compensation Expenses (RMB Thousand) | Expense Type | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :--- | :--- | :--- | :--- | :--- | :--- | | Cost of Revenues | 496 | 353 | 627 | 680 | 654 | | R&D Expenses | 14,673 | 13,612 | 15,301 | 12,161 | 12,401 | | Sales and Marketing Expenses | 2,247 | 1,606 | 3,389 | 2,848 | 1,816 | | General and Administrative Expenses | 74,232 | 62,595 | 18,502 | 57,704 | 56,472 | | **Total Share-based Compensation Expenses** | **91,648** | **78,166** | **37,819** | **73,393** | **71,343** | [Unaudited Condensed Financial Statements](index=7&type=section&id=Unaudited%20Condensed%20Financial%20Statements) [Unaudited Condensed Statements of Comprehensive Loss (Quarterly)](index=7&type=section&id=Unaudited%20Condensed%20Statements%20of%20Comprehensive%20Loss%20%28Quarterly%29) This table presents quarterly revenues, costs, gross profit, operating expenses, and net loss for 2022-2023, showing performance trends Quarterly Condensed Statements of Comprehensive Loss Summary (RMB Thousand) | Metric | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenues | 142,237 | 142,516 | 146,268 | 127,566 | 121,085 | | Cost of Revenues | (40,974) | (43,744) | (45,846) | (41,646) | (42,972) | | Gross Profit | 101,263 | 98,772 | 100,422 | 85,920 | 78,113 | | Operating Expenses | (318,706) | (287,230) | (236,146) | (264,735) | (244,437) | | Operating Loss | (217,443) | (188,458) | (135,724) | (178,815) | (166,324) | | Net Loss | (216,225) | (185,253) | (131,242) | (174,981) | (162,213) | | Loss Per Share (Class A/B Ordinary Shares) | (2.11) | (1.81) | (1.28) | (1.71) | (1.58) | [Unaudited Condensed Statements of Comprehensive Loss (Annual)](index=8&type=section&id=Unaudited%20Condensed%20Statements%20of%20Comprehensive%20Loss%20%28Annual%29) This table provides full-year revenues, costs, gross profit, operating expenses, and net loss for 2022-2023, detailing annual performance Annual Condensed Statements of Comprehensive Loss Summary (RMB Thousand) | Metric | December 31, 2022 | December 31, 2023 | | :--- | :--- | :--- | | Revenues | 563,238 | 537,435 | | Cost of Revenues | (183,199) | (174,208) | | Gross Profit | 380,039 | 363,227 | | Operating Expenses | (1,360,446) | (1,032,548) | | Operating Loss | (980,407) | (669,321) | | Net Loss | (971,233) | (653,689) | | Loss Per Share (Class A/B Ordinary Shares) | (9.35) | (6.38) | [Unaudited Condensed Consolidated Balance Sheets](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of December 31, 2023, total assets and liabilities decreased, cash and equivalents fell, while accounts receivable rose Condensed Consolidated Balance Sheets Summary (RMB Thousand) | Metric | December 31, 2022 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and Cash Equivalents | 905,451 | 615,096 | | Restricted Cash | 19,817 | 120 | | Accounts Receivable, Net | 109,954 | 126,858 | | Inventories, Net | 130,321 | 69,020 | | Total Current Assets | 1,258,762 | 884,096 | | Total Non-current Assets | 328,705 | 155,905 | | **Total Assets** | **1,587,467** | **1,040,001** | | **Liabilities** | | | | Accounts Payable | 50,947 | 18,061 | | Deferred Revenue | 147,633 | 130,537 | | Total Current Liabilities | 411,451 | 263,364 | | Total Non-current Liabilities | 17,675 | 8,227 | | **Total Liabilities** | **429,126** | **271,591** | | **Shareholders' Equity** | | | | Accumulated Deficit | (3,199,946) | (3,853,635) | | **Total Shareholders' Equity** | **1,158,341** | **768,410** | [Unaudited Condensed Statements of Cash Flows (Quarterly)](index=11&type=section&id=Unaudited%20Condensed%20Statements%20of%20Cash%20Flows%20%28Quarterly%29) Q4 2023 saw RMB 16.019 million net cash outflow from operations, with investing and financing outflows reducing period-end cash Quarterly Condensed Statements of Cash Flows Summary (RMB Thousand) | Metric | December 31, 2022 | December 31, 2023 | | :--- | :--- | :--- | | Net Cash Outflow from Operating Activities | (67,707) | (16,019) | | Net Cash Outflow from Investing Activities | (5,033) | (328) | | Net Cash Outflow from Financing Activities | (10,074) | (1,909) | | Effect of Exchange Rate Changes | (5,924) | (3,277) | | Net Decrease in Cash, Cash Equivalents, and Restricted Cash | (88,738) | (21,533) | | Cash, Cash Equivalents, and Restricted Cash at End of Period | 925,268 | 615,216 | [Unaudited Condensed Statements of Cash Flows (Annual)](index=11&type=section&id=Unaudited%20Condensed%20Statements%20of%20Cash%20Flows%20%28Annual%29) Full year 2023 operating cash outflow significantly decreased, with investing and financing outflows also narrowing, ending with RMB 615.2 million cash Annual Condensed Statements of Cash Flows Summary (RMB Thousand) | Metric | December 31, 2022 | December 31, 2023 | | :--- | :--- | :--- | | Net Cash Outflow from Operating Activities | (456,808) | (255,783) | | Net Cash Outflow from Investing Activities | (7,463) | (9,300) | | Net Cash Outflow from Financing Activities | (86,238) | (48,832) | | Effect of Exchange Rate Changes | 36,665 | 3,863 | | Net Decrease in Cash, Cash Equivalents, and Restricted Cash | (513,844) | (310,052) | | Cash, Cash Equivalents, and Restricted Cash at End of Period | 925,268 | 615,216 | [Reconciliations of GAAP and Non-GAAP Results](index=12&type=section&id=Reconciliations%20of%20GAAP%20and%20Non-GAAP%20Results) [Quarterly Non-GAAP Gross Profit Reconciliation](index=12&type=section&id=Quarterly%20Non-GAAP%20Gross%20Profit%20Reconciliation) This table reconciles quarterly GAAP to non-GAAP gross profit for 2022-2023, showing non-GAAP gross profit and margin by channel Quarterly Non-GAAP Gross Profit Reconciliation (RMB Thousand) | Metric | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Gross Profit** | **101,263** | **98,772** | **100,422** | **85,920** | **78,113** | | Add: Depreciation and Amortization in Cost of Revenues | 9,123 | 9,123 | 8,947 | 9,164 | 8,950 | | **Total Non-GAAP Gross Profit** | **110,386** | **107,895** | **109,369** | **95,084** | **87,063** | | **Total Non-GAAP Gross Margin** | **77.6%** | **75.7%** | **74.8%** | **74.5%** | **71.9%** | | Central Lab Non-GAAP Gross Margin | 80.8% | 82.0% | 82.3% | 82.3% | 86.4% | | In-hospital Non-GAAP Gross Margin | 69.2% | 71.7% | 66.9% | 70.1% | 54.3% | | Pharma R&D Services Non-GAAP Gross Margin | 82.3% | 69.5% | 72.0% | 65.5% | 66.2% | [Annual Non-GAAP Gross Profit Reconciliation](index=13&type=section&id=Annual%20Non-GAAP%20Gross%20Profit%20Reconciliation) This table reconciles full-year GAAP to non-GAAP gross profit for 2022-2023, showing annual gross profit and margin after adjustments Annual Non-GAAP Gross Profit Reconciliation (RMB Thousand) | Metric | December 31, 2022 | December 31, 2023 | | :--- | :--- | :--- | | **Total Gross Profit** | **380,039** | **363,227** | | Add: Depreciation and Amortization in Cost of Revenues | 30,984 | 36,185 | | **Total Non-GAAP Gross Profit** | **411,023** | **399,412** | | **Total Non-GAAP Gross Margin** | **73.0%** | **74.3%** | | Central Lab Non-GAAP Gross Margin | 77.7% | 83.1% | | In-hospital Non-GAAP Gross Margin | 67.6% | 67.2% | | Pharma R&D Services Non-GAAP Gross Margin | 65.7% | 68.2% |

GUANGZHOU, China, Jan. 04, 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 announced that it has received written notification from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC ("NASDAQ") dated December 29, 2023, indicating that for the last 30 consecutive business days, the closing bid price ...

Burning Rock Biotech Limited (NASDAQ:BNR) Q3 2023 Earnings Call Transcript November 30, 2023 7:00 AM ET Company Participants Yusheng Han - Founder, Chairman and Chief Executive Officer Leo Li - CFO Joe Zhang - CTO Conference Call Participants Operator Before we begin, I would like to remind you that this conference call contains forward-looking statements within the meaning of the Section 21E of the Securities Exchange Act of 1934 as amended and as defined in the U.S. Private Securities Litigation Reform Ac ...

Burning Rock Biotech Limited 3Q2023 results Nasdaq and LSE: BNR Disclaimer This presentation has been prepared by Burning Rock Biotech Limited (the “Company”) solely for information purpose and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, advisers, or representatives as to, and no reliance should be placed upon, the accuracy, fairness, completeness or correctness of the information or opinions prese ...

Exhibit 99.1 Burning Rock Reports Third Quarter 2023 Financial Results GUANGZHOU, China, November 30, 2023—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 September 30, 2023. Recent Business Updates • Therapy Selection and Minimal Residual Disease (MRD) • Personalized Minimal Residual Dise ...

Exhibit 99.1 Burning Rock Reports Second Quarter 2023 Financial Results GUANGZHOU, China, August 31, 2023—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 June 30, 2023. Recent Business Updates • Therapy Selection and Minimal Residual Disease (MRD) • Presented study results on extensive-sta ...

Financial Data and Key Metrics Changes - In Q2 2023, the company achieved a non-GAAP gross profit minus SG&A of RMB 7.6 million, marking the first quarter of breakeven in its operating history [6] - The overall revenue growth was 33% year-over-year, with a significant transition towards the in-hospital model [9] - The gross margin reached approximately 75% on a non-GAAP basis, with a year-over-year gross profit increase of about 20% [12] Business Line Data and Key Metrics Changes - Therapy selection saw a year-over-year growth of 44% [7] - The MRD segment launched personalized MRD in top hospitals, with expected impacts starting in Q4 2023 [5] - The biopharma segment experienced a 46% increase in revenue and a 43% year-over-year growth in contract value for new projects [12] Market Data and Key Metrics Changes - The in-hospital testing volumes grew 72% year-over-year, while overall volumes increased by 33% [8] - The company reported stable in-hospital testing volumes heading into Q3 despite industry-wide disturbances in China's healthcare sector [10] Company Strategy and Development Direction - The primary goal for 2023 is to achieve profitability, with a focus on breakeven excluding R&D expenses [4] - The company aims to strengthen its leading position in multi-cancer early detection (MCED) and continue revenue growth [5] - R&D spending will primarily focus on MCED, with several significant clinical trials underway [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of the biopharma business due to new MRD platforms and international orders [5] - The company is confident in its ability to navigate the current economic environment and maintain growth [6] - There is an expectation of reduced R&D expenses as clinical programs are completed by the end of the year [13] Other Important Information - The company has successfully transitioned from a central lab model to an in-hospital model, which is now the dominant share of its channel composition [8] - Sales and marketing expenses have been efficiently managed, trending down to about 44% of revenue in Q2 [10] Q&A Session Summary - There were no questions from participants during the Q&A session, and the conference call concluded without any inquiries [14]

Burning Rock Biotech Limited 1Q2023 results Nasdaq and LSE: BNR 30 May 2023 Disclaimer This presentation has been prepared by Burning Rock Biotech Limited (the "Company") solely for information purpose and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, advisers, or representatives as to, and no reliance should be placed upon, the accuracy, fairness, completeness or correctness of the information or op ...