Shares of Burning Rock Biotech Limited (NASDAQ: BNR) plummeted by 5.31% on Thursday, September 27, 2024, following the resignation of its Chief Financial Officer and board director, Leo Li, for personal reasons.
According to the company's announcement, Mr. Li's resignation was effective September 27, 2024, and was not due to any disagreement with the Board, the company, or its affiliates regarding operations, policies, or practices. Burning Rock stated that Mr. Li confirmed he has no claims against the company.
In light of Mr. Li's departure, Xiaozhi Hu, the senior director in finance, will oversee the company's financial operations, financial reporting, and related matters. Ms. Hu will report directly to Yusheng Han, the chairman of the board and chief executive officer. Mr. Han expressed gratitude for Mr. Li's contributions during his tenure, particularly during the company's initial public offering and subsequent business development projects.
Burning Rock Biotech Limited, based in Guangzhou, China, is focused on the application of next-generation sequencing (NGS) technology in precision oncology. The company's business includes NGS-based therapy selection testing for late-stage cancer patients and cancer early detection, which has progressed into the clinical validation stage.
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