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百济神州(06160) - 2022 - 年度业绩
BeiGeneBeiGene(HK:06160)2023-03-29 13:11

Financial Performance - Total revenue for the year ended December 31, 2022, increased by approximately $239.6 million or 20.4% to about $1.415 billion, with product revenue rising by approximately $620.6 million or 97.9% to about $1.255 billion[1]. - Total expenses for the year ended December 31, 2022, increased by approximately $590.6 million or 22.6% to about $3.206 billion[1]. - Net loss for the year ended December 31, 2022, increased by approximately $546.0 million or 37.5% to about $2.004 billion[1]. - Basic and diluted loss per share for the year ended December 31, 2022, was $1.49, an increase of 23.1% from $1.21 for the year ended December 31, 2021[1]. - The comprehensive loss for the year ended December 31, 2022, was approximately $2.099 billion, compared to $1.447 billion for the previous year[5]. - The net loss for the year ended December 31, 2022, was $2,003,815 thousand, compared to a net loss of $1,457,816 thousand in 2021, representing an increase in losses of approximately 37.4%[6]. - Total revenue for the year ended December 31, 2022, was approximately $184.8 million, an increase from $140.0 million in 2021, representing a growth of 32.0%[163]. - The company reported a net loss of approximately $2 billion for the year ended December 31, 2022, compared to a net loss of $1.5 billion in 2021, indicating a worsening of 33.3%[165]. Cash and Liquidity - Cash and cash equivalents as of December 31, 2022, were approximately $3.870 billion, down from $4.376 billion as of December 31, 2021[2]. - The total cash and cash equivalents at the end of 2022 were $3,869,564 thousand, down from $4,375,678 thousand at the end of 2021, showing a decrease of approximately 11.6%[7]. - Cash used in operating activities for the year was $1,496,619 thousand, an increase from $1,298,723 thousand in the previous year, indicating a worsening cash flow situation[6]. - The company expects its existing cash, cash equivalents, and short-term investments to meet operational and capital expenditure needs for at least the next 12 months[165]. - Cash, cash equivalents, restricted cash, and short-term investments totaled approximately $1.7 billion in USD and approximately RMB 19 billion (equivalent to about $2.8 billion) as of December 31, 2022[159]. Assets and Liabilities - Total assets as of December 31, 2022, were approximately $6.379 billion, a decrease from $8.536 billion as of December 31, 2021[3]. - Total liabilities as of December 31, 2022, were approximately $1.996 billion, down from $2.403 billion as of December 31, 2021[3]. - The company’s total shareholders' equity as of December 31, 2022, was $4,383,355 thousand, down from $6,132,563 thousand in 2021, reflecting a decline of approximately 28.6%[8]. - The total debt as of December 31, 2022, was $538.1 million, a decrease from $629.7 million in 2021, representing a reduction of 14.5%[165]. - The company has a total debt responsibility of $329 million due within the next twelve months and long-term debt totaling $209 million[178]. Research and Development - Research and development expenses for the year ended December 31, 2022, were approximately $1.641 billion, an increase from $1.459 billion in 2021[4]. - R&D expenses for the year ended December 31, 2022, were approximately $1,640,508,000, compared to $1,459,239,000 in 2021, indicating a rise of 12.4%[87]. - Internal R&D expenses rose by $220.9 million (or 28.2%) to $1 billion, driven by hiring more R&D personnel and increased material costs for clinical candidates[154]. - The company anticipates continued significant investment in R&D to support clinical trials for various cancer treatments and potential key trials[140]. Collaboration and Revenue - The company recognized total collaboration revenue of $161,309 thousand for the year ended December 31, 2022, compared to $542,296 thousand for 2021[26]. - The collaboration agreement with Novartis includes a $650 million upfront payment and potential milestone payments totaling up to $1.55 billion[28]. - The company received a cash upfront payment of $650 million from Novartis in January 2021 as part of a collaboration agreement, and an additional $300 million in January 2022 for expanded collaboration[167]. - Collaboration revenue totaled $161.309 million, a decrease of 70.3% from $542.296 million in the previous year, primarily due to the recognition of significant upfront licensing revenue in 2021[145]. Employee and Compensation - Employee benefits expenses for the year ended December 31, 2022, totaled $83,860,000 for China and $10,298,000 for the 401(k) plan in the U.S.[104]. - Total employee compensation costs for the year ended December 31, 2022, amounted to $1.4 billion, compared to $1 billion in 2021[191]. - The total equity incentive costs recognized for the year ended December 31, 2022, amounted to $303,162,000, compared to $240,712,000 in 2021[100]. Corporate Governance - The company has adhered to the corporate governance code and maintains high standards of internal controls and transparency[194]. - The audit committee is composed of two independent non-executive directors and one non-executive director, ensuring compliance with financial reporting and internal controls[195]. - The company will continue to review and monitor its corporate governance practices to ensure compliance with applicable regulations[196]. Market Presence and Expansion - The company operates in 29 countries and regions, employing over 9,000 staff since its establishment in 2010[10]. - The company is expanding its internal production capacity in China and establishing a commercial-stage biopharmaceutical production and clinical R&D center in New Jersey, USA[9]. - The company has received multiple approvals for its drugs in various markets, including the FDA and MHRA, enhancing its market presence[130]. - The company has established commercialization capabilities in the Asia-Pacific region and is expanding into Latin America and other emerging markets[133]. Future Outlook - The company expects significant revenue growth in 2023 and beyond, with product revenue growth anticipated to exceed operating expense growth[133]. - The company aims to provide impactful and affordable drugs globally, leveraging its integrated biopharmaceutical model and extensive research capabilities[131].