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SAN CARLOS, Calif. - On Thursday, BeOne Medicines Ltd. (NASDAQ:ONC) reported third quarter financial results that exceeded analyst expectations, driven by robust sales of its flagship cancer drug BRUKINSA.
The company’s shares rose 0.81% in pre-market trading following the announcement.
The global oncology company reported adjusted earnings of $2.65 per American Depositary Share (ADS), significantly outpacing the analyst consensus of $0.80. Revenue reached $1.41 billion, surpassing analyst estimates of $1.37 billion and representing a 41% increase compared to the same quarter last year.
BRUKINSA (zanubrutinib) sales were particularly strong, growing 51% YoY to $1.0 billion. The BTK inhibitor has become the global revenue leader in its class, with U.S. sales increasing 47% to $739 million and European sales jumping 68% to $163 million. The company’s PD-1 inhibitor TEVIMBRA (tislelizumab) also contributed to growth with sales of $191 million, up 17% YoY.
"These strong financial results reinforce our position as a global oncology leader with exceptional topline growth and a strong balance sheet," said John V. Oyler, Co-Founder, Chairman and CEO at BeOne.
The company raised its full-year 2025 revenue guidance to $5.1-5.3 billion from its previous forecast of $5.0-5.3 billion, well above the analyst consensus of $3.75 billion. BeOne also tightened its GAAP operating expense guidance to $4.1-4.3 billion, down from $4.1-4.4 billion previously.
BeOne reported a gross margin of 85.9% for the quarter, up from 82.8% in the prior-year period, driven by a higher proportion of BRUKINSA sales and production improvements. The company generated $354 million in free cash flow, a substantial increase from $55 million in the same quarter last year.
The company continues to advance its pipeline, with 47 abstracts accepted at the upcoming American Society of Hematology Annual Meeting and several promising candidates in development, including sonrotoclax, a BCL2 inhibitor that recently received FDA Breakthrough Therapy Designation for relapsed or refractory mantle cell lymphoma.
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