BeiGene Ltd (NASDAQ: ONC) stock soared 5.79% in pre-market trading on Thursday, February 27, 2025, following the company's strong financial results for the fourth quarter and full year 2024, coupled with an upbeat revenue guidance for 2025.
The global oncology company reported better-than-expected revenue for Q4 2024, driven by robust sales growth of its flagship product BRUKINSA. Total revenue for the quarter stood at $1.13 billion, a 78% increase from the year-ago period, surpassing analyst estimates of $1.04 billion.
For the full year 2024, BeiGene's total revenue reached $3.81 billion, up 55% year-over-year, fueled by the strong performance of BRUKINSA in the U.S. and Europe. The company achieved positive non-GAAP operating income for the full year, despite reporting a GAAP operating loss.
Looking ahead, BeiGene provided an optimistic outlook for 2025, projecting total revenue between $4.9 billion and $5.3 billion, exceeding analysts' expectations of $4.73 billion. The company expects to achieve positive GAAP operating income and generate positive cash flow from operations in 2025, driven by BRUKINSA's continued leadership position in the U.S. and global expansion.
BeiGene's management highlighted the company's progress in advancing its solid tumor pipeline, with multiple data readouts anticipated in the first half of 2025. The company also emphasized its commitment to developing innovative and accessible cancer treatments worldwide.
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