Burning Rock Dx(US:BNR)2024-05-29 11:08Financial 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]