BeOne Medicines (NasdaqGS:BGNE) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Company ParticipantsAaron Rosenberg - CFOAmit Aggarwal - Chief Medical Officer of HematologyDan Maller - VP of Investor RelationsJohn V. Oyler - Co-Founder, Chairman and CEOLai Wang - President and Global Head of Research & DevelopmentMark Lanasa - SVP and Chief Medical OfficerMatt Shaulis - General Manager of North AmericaSean Laaman - Executive DirectorXiaobin Wu - President and COOZhihong Chen - Managing DirectorNone - Co ...

BeOne Medicines (NasdaqGS:BGNE) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Company ParticipantsAaron Rosenberg - CFOAmit Aggarwal - Chief Medical Officer of HematologyDan Maller - VP of Investor RelationsJohn V. Oyler - Co-Founder, Chairman and CEOLai Wang - President and Global Head of Research & DevelopmentMark Lanasa - SVP and Chief Medical OfficerMatt Shaulis - General Manager of North AmericaSean Laaman - Executive DirectorXiaobin Wu - President and COOZhihong Chen - Managing DirectorNone - Co ...

BeOne Medicines (NasdaqGS:BGNE) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Speaker10Good day, everyone. Welcome to BeOne Medicines Q4 and full year 2025 earnings call webcast. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. At this time, I would like to turn the call over to the company.Speaker3Hello and welcome. Thanks for joining us today. I'm Dan Maller, Head of Investor Relations at BeOne Medicines. Be ...

Q4 and Full Year 2025 Results Conference call and webcast for investors and analysts FEBRUARY 26, 2026 Disclosures Certain statements contained in this presentation and in the accompanying oral presentation, other than statements of fact that are independently verifiable at the date hereof, constitute forward looking statements. Examples of such forward-looking statements include statements regarding BeOne's research, discovery, preclinical and clinical programs and plans, including proof of concept timing, ...

Core Insights - BeOne Medicines AG (NASDAQ:ONC) is highlighted as a promising healthcare stock for 2026, showcasing significant advancements in its pipeline development [1] Pipeline Development - The company’s BRUKINSA, a tyrosine kinase inhibitor, has demonstrated a 74% six-year progression-free survival rate in treatment-naïve chronic lymphocytic leukemia (CLL), significantly outperforming the 32% rate of bendamustine plus rituximab [2] - Sonrotoclax, a BCL2 inhibitor, has received regulatory approval with an impressive overall response rate of 86% in heavily pretreated CLL patients [2] - BeOne Medicines is advancing 15 new molecular entities into clinical trials and plans to introduce an additional 8 to 10 candidates [2] Market Performance and Projections - Citizens has reiterated a Market Perform rating for BeOne Medicines with a price target of $396, citing strong efficacy data from a phase 3 trial in gastric cancer patients [3] - The anticipated approval of sonrotoclax is expected to lead to further global approvals, while Brukinsa is projected to generate $3.8 billion in revenue by 2025 [3] Company Overview - BeOne Medicines AG is a biotechnology firm focused on the discovery, development, and commercialization of innovative and affordable oncology treatments, known for products like Brukinsa and Tevimbra [4]

Summary of BeOne Medicines FY Conference Call Company Overview - **Company**: BeOne Medicines (NasdaqGS:BGNE) - **Industry**: Biotechnology, specifically focused on oncology and cancer treatment Key Points and Arguments Financial Performance - BeOne achieved significant product revenue growth, GAAP profitability, and meaningful cash flow generation in 2025, fulfilling commitments made at the previous conference [4][32] - Generated over $350 million in free cash flow in Q3 2025 and has a solid balance sheet with over $4 billion in cash [32] Product Development and Pipeline - **BRUKINSA**: Became the number one BTK inhibitor in the U.S. and globally, setting a new standard for efficacy and safety in Chronic Lymphocytic Leukemia (CLL) treatment with six-year progression-free survival (PFS) and overall survival (OS) rates of 74% and 84%, respectively [4][9] - **Sonro**: Received breakthrough designation and priority review in the U.S. for relapsed Mantle Cell Lymphoma (MCL) and had four regulatory approval submissions in 2025 [4] - **Tisli-Zanny**: Positive results in first-line HER2-positive gastric cancer, showing clinically meaningful improvement over standard care [5] - **Pipeline Expansion**: Five new molecules entered clinical trials, and six assets achieved proof of concept across four modalities [5] Market Insights - The CLL market is currently valued at $12 billion and is expected to grow due to therapeutic innovations [5][36] - Continuous BTK therapy is currently dominated by three major players, with BeOne positioned as the number one player [37] Safety and Efficacy Comparisons - BRUKINSA demonstrated superior efficacy and a more favorable safety profile compared to Ibrutinib and Acala, addressing issues such as cardiac toxicity [9][16] - Fixed-duration therapies currently available have shown underwhelming efficacy and safety concerns, which may limit their adoption [17][19] Future Outlook - BeOne plans to continue its focus on innovation, with expectations for a milestone-rich 2026, including phase three data from the Brukinza-Mangrove trial and initial global launches for Sonro [26][32] - The company aims to redefine treatment paradigms in CLL with a combination of BRUKINSA and a more selective BCL-2 inhibitor, Sonrotoclax, which is expected to deliver on the promise of fixed-duration therapy [21][22] R&D Capabilities - BeOne has a large R&D team of approximately 4,800 people, making it one of the largest oncology-focused teams globally [26] - The company has a unique integrated in-house model for drug development, which enhances speed and efficiency compared to traditional CRO-based models [30] Additional Important Insights - The company emphasizes the importance of patient stories, such as that of Lynn, a CLL patient thriving on BRUKINSA, highlighting the human impact of their innovations [10][11] - BeOne's commitment to addressing unmet medical needs in both frontline and relapse settings is evident in their development of a first-in-class BTK CDAC for relapsed CLL [23][24] This summary encapsulates the critical aspects of BeOne Medicines' FY conference call, focusing on financial performance, product development, market insights, safety comparisons, future outlook, and R&D capabilities.

Company Performance & Financials - BeOne Medicines delivered significant product revenue growth, with a 43% increase in the first three quarters of 2025 [17] - BRUKINSA rapidly became the global BTKi leader, showing a 51% increase in approved indications [20] - The company's pipeline achieved proof of concept for 6 assets across 4 modalities and brought 5 new molecular entities (NMEs) to the clinic in 2025 [22] CLL Treatment Landscape & BRUKINSA - BRUKINSA demonstrates progression-free survival (PFS) superiority to ibrutinib, with a hazard ratio (HR) of 069 (95% CI: 055, 087), p-value: 00014 [53] - Recent competitor efficacy data does not indicate a change to the CLL treatment landscape, with Pirtobrutinib showing a HR of 0845 (95% CI: 0566-1262), p-value: 04102 [60] - In the ALPINE trial, Zanubrutinib had a lower rate of adverse events (AEs) leading to treatment discontinuation at 77% compared to ibrutinib at 130% [65] ZS (Zanubrutinib + Sonrotoclax) Regimen - ZS (Zanubrutinib + sonrotoclax) is poised to be a fixed duration regimen with a 91% undetectable minimal residual disease (uMRD) rate [74] - ZS showed a 100% 36-month PFS rate (at 30 months) [74] - The company is initiating a Phase 3 trial of ZS vs AV in 1L CLL in H1 2026 [101] Pipeline & Future Milestones - The company has approximately 8-10 new molecular entities (NMEs) per year in its pipeline [105] - BeOne is the only company with best-in-class foundational medicines across the three key mechanisms of action (MOAs) in CLL [99] - The company anticipates several milestones in H1 and H2 2026, including Phase 3 data for BRUKINSA+R vs BR in 1L MCL and a potential R/R MCL U S approval for Sonro [101]

Core Viewpoint - BeiGene (06160) reported a 43.3% increase in Q3 revenue to $3.8 billion, with adjusted net profit of $693 million, exceeding both the firm's and market expectations [2] Financial Performance - Q3 revenue reached $3.8 billion, marking a 43.3% year-over-year increase [2] - Adjusted net profit was $693 million, surpassing expectations [2] Future Guidance - The company raised its revenue guidance for 2025 while slightly lowering cost forecasts [2] - Strong sales outlook for BRUKINSA and improved operational efficiency are expected to drive steady profit and cash flow growth [2] Research and Development - Efficient R&D progress is anticipated to support future product launches, contributing to sustainable long-term growth [2] Investment Rating - The stock maintains a "Buy" rating, with the H-share target price increased from HKD 240 to HKD 252 [2]

Core Viewpoint - BeiGene (06160) reported a 43.3% increase in Q3 revenue to $3.8 billion, with adjusted net profit of $693 million, exceeding both the firm's and market expectations [1] Financial Performance - Q3 revenue increased by 43.3% to $3.8 billion [1] - Adjusted net profit reached $693 million, surpassing expectations [1] Future Guidance - The company raised its revenue guidance for 2025 while slightly lowering cost forecasts [1] - Strong sales outlook for BRUKINSA and improved operational efficiency are expected to drive steady profit and cash flow growth [1] Research and Development - Efficient R&D progress is anticipated to support sustainable long-term growth through future product launches [1] Stock Rating - The stock is maintained with a "Buy" rating, and the target price for H-shares has been raised from HKD 240 to HKD 252 [1]

Core Insights - BeiGene's Q3 revenue increased by 43.3% year-on-year to $3.8 billion, with adjusted net profit of $693 million, exceeding both the bank's and market expectations [1] - The company raised its revenue guidance for 2025 while slightly lowering its cost forecast [1] - Strong sales outlook for BRUKINSA and improved operational efficiency are expected to drive robust profit and cash flow growth [1] - Efficient R&D progress is anticipated to support sustainable long-term growth through future product launches [1] - The bank maintains a "Buy" rating on the stock, raising the target price for H-shares from HKD 240 to HKD 252 [1]