Q2 Revenue Report Released for Burning Rock Biotech

Burning Rock Biotech, a China-based precision oncology company, has stated that their sales revenue for Q2 2023 was 12% higher than the same period last year.

For the period spanning from May to the end of June, the company recorded sales of over RMB 146 million, up from just shy of RMB 131 million in 2022.

Burning Rock’s core lab division brought in over RMB 66 million throughout this period, a decrease of 16% compared to the prior year. As the company switches their strategy towards in-hospital test sales, there has been an expected decline in test quantity, which has significantly contributed to this decrease.

RMB 53.8 million in revenue was generated for their new focus division, in-hospital sales. This represents an overall increase of almost 60% on last year.

In Q2, research and development expenses were over RMB 3.5 million more than last year, but earnings from their pharmaceutical research and development offerings increased by 45%.

In conclusion, Q2 ended in a total deficit of RMB 131.2 million, equivalent to 1.28 per share, although this is an improvement on last year’s net loss of RMB 262.1 million, or RMB 2.50 per share.

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