Burning Rock Biotech Ltd
NASDAQ:BNR
Burning Rock Biotech Ltd
Burning Rock Biotech Ltd. engages in the investment of medical fields. The company is headquartered in Guangzhou, Guangdong. The company went IPO on 2020-06-12. The firm operates three segments. Central Laboratory Business segment is engaged in the sales of cancer therapy selection test to individual patients. In-Hospital Business segment is engaged in the sales of reagent kits and the provision of the facilitation services for the sale of laboratory equipment to hospitals. Pharma Research and Development Services segment provide services to companies primarily in relation to the development of targeted therapies and immunotherapies for various types of cancer, and to hospitals for their studies on cancer diagnosis and treatment. Its products include OncoScreen Plus and LungPlasma. Its NGS-based cancer therapy selection tests applicable to a broad range of cancer types, including lung cancer, prostate cancer, breast cancer and others. The firm mainly conducts its businesses in the China market.
Burning Rock Biotech Ltd. engages in the investment of medical fields. The company is headquartered in Guangzhou, Guangdong. The company went IPO on 2020-06-12. The firm operates three segments. Central Laboratory Business segment is engaged in the sales of cancer therapy selection test to individual patients. In-Hospital Business segment is engaged in the sales of reagent kits and the provision of the facilitation services for the sale of laboratory equipment to hospitals. Pharma Research and Development Services segment provide services to companies primarily in relation to the development of targeted therapies and immunotherapies for various types of cancer, and to hospitals for their studies on cancer diagnosis and treatment. Its products include OncoScreen Plus and LungPlasma. Its NGS-based cancer therapy selection tests applicable to a broad range of cancer types, including lung cancer, prostate cancer, breast cancer and others. The firm mainly conducts its businesses in the China market.
Profitability: Burning Rock returned to profitability in Q1 2024 after challenges in the second half of 2023, mainly through improved efficiency and cost control.
Sales Efficiency: Sales and marketing expenses as a percentage of revenue hit a historic low at 35%, reflecting major progress in operating efficiency.
Revenue: Total revenue increased 4% quarter-over-quarter, driven by strong growth in the in-hospital segment.
Business Transition: For the first time, more revenue came from in-hospital than from Central Lab, marking a key milestone in their business transition.
Cash Position: The company ended the quarter with RMB 573 million in cash, providing about three years of runway and reducing the need for new capital.
Guidance: Management reaffirms 2024 guidance for positive operating results and expects further cash outflow reductions into 2025.
