BeiGene Ltd (BGNE) stock soared over 6% in pre-market trading on Thursday, February 27, 2025, following the company's strong financial performance in the fourth quarter and full year 2024, coupled with an upbeat revenue guidance for 2025 and promising updates on its solid tumor pipeline.
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.
Despite reporting a GAAP operating loss, the company achieved positive non-GAAP operating income for the full year 2024, reflecting its operational efficiency and cost control measures. 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, including potential approvals for several innovative oncology candidates.
BeiGene's strong financial performance, upbeat 2025 outlook, and promising pipeline progress in solid tumors have fueled investor confidence, contributing to the stock's significant pre-market surge on Thursday.
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