BeOne Medicines Ltd.

Listed Company

ONCCIK 0001651308NasdaqLarge AcceleratedPharmaceutical PreparationsFY ends Dec 31

Period

FY 2025

Revenue

$5.34B

Net Income

$286.93M

Total Assets

$8.19B

Equity

$4.36B

Shares Out

1.44B

Op. Cash Flow

$1.13B

Business

BeOne Medicines Ltd. is a global oncology company that discovers, develops and commercializes cancer therapies. It offers targeted small molecules, monoclonal antibodies, antibody‑drug conjugates, multispecific and bispecific antibodies, protein degraders (CDACs), and in‑licensed oncology medicines, with marketed products such as BRUKINSA and TEVIMBRA. Its operations are organized around hematology and solid tumor franchises, research and development (clinical and preclinical pipelines), manufacturing, and commercial partnerships. The company sells and develops products worldwide across the U.S., Europe, China, Japan, Asia Pacific, Latin America and other markets via direct commercial teams, partnerships and global clinical trial networks.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	5,343	3,810	2,459	1,416	1,176
Gross profit	4,674	3,216	2,079	1,129	1,011
Research and development	2,146	1,953	1,779	1,641	1,459
Selling, general and administrative	2,081	1,831	1,508	1,279	990
Total operating expenses	4,227	3,784	3,287	2,919	2,450
Income (loss) from operations	447	−568	−1,208	−1,790	−1,439
Interest income	71	70	78	—	—
Interest expense	−58	−22	−4	—	—
Other (expense) income, net	−43	−13	308	−224	16
Income (loss) before income taxes	417	−533	−826	−1,961	—
Income tax expense	130	112	56	43	19
Net income (loss)	287	−645	−882	−2,004	−1,458
Basic (in dollars per share)	0.2	−0.47	−0.65	−1.49	−1.21
Diluted (in dollars per share)	0.19	−0.47	−0.65	−1.49	−1.21
Weighted-average shares outstandingbasic (in shares)	1,418	1,369	1,357	1,341	1,206
Weighted-average shares outstanding diluted (in shares)	1,475	1,369	1,357	1,341	1,206
Basic (in dollars per share)	2.63	−6.12	−8.45	−19.43	−15.71
Diluted (in dollars per share)	2.53	−6.12	−8.45	−19.43	−15.71
Weighted-average ADSs outstanding, basic (in shares)	109	105	104	103	93
Weighted-average ADSs outstanding, diluted (in shares)	113	105	104	103	93

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	4,548	2,627	3,172	3,870	4,376
Accounts receivable, net	865	676	358	173	483
Inventories, net	608	495	416	282	243
Prepaid expenses and other current assets	213	193	257	217	270
Total current assets	6,234	3,992	4,203	5,207	7,614
Property, plant and equipment, net	1,642	1,578	1,324	846	588
Operating lease right-of-use assets	148	139	95	110	117
Intangible assets, net	63	51	57	41	47
Other non-current assets	102	160	125	176	163
Total non-current assets	1,955	1,929	1,602	1,172	922
Total assets	8,189	5,921	5,805	6,379	8,536
Accounts payable	479	405	315	295	262
Accrued expenses and other payables	1,109	804	694	467	558
Tax payable	42	26	23	25	21
Operating lease liabilities, current portion	21	18	22	24	22
Research and development cost share liability, current portion	64	111	68	114	121
Sale of future royalty liability, current portion	57	0	—	—	—
Short-term debt	57	852	688	329	428
Total current liabilities	1,829	2,215	1,810	1,469	1,600
Long-term debt	962	166	198	209	202
Sale of future royalty liability, non-current portion	850	0	—	—	—
Operating lease liabilities, non-current portion	53	44	22	35	43
Deferred tax liabilities	53	42	16	16	14
Research and development cost share liability, non-current portion	0	54	171	180	270
Other long-term liabilities	80	67	51	46	54
Total non-current liabilities	1,999	374	458	527	803
Total liabilities	3,827	2,589	2,268	1,996	2,403
Commitments and contingencies	—	—	—	—	—
Ordinary shares, $0.0001 par value per share; 1,540,975,898 and 1,387,367,704 shares issued and 1,441,075,618 and 1,387,367,704 shares outstanding as of December 31, 2025 and 2024, respectively	144,000	138,000	135,000	135,000	133,000
Additional paid-in capital	12,759	12,088	11,599	11,541	11,191
Accumulated other comprehensive loss	−78	−149	−99	−77	18
Accumulated deficit	−8,320	−8,607	−7,962	−7,080	−5,077
Total shareholders equity	4,361	3,332	3,537	4,383	6,133
Total liabilities and shareholders equity	8,189	5,921	5,805	6,379	8,536

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	142	172	88	66	46
Share-based compensation expense	511	442	368	303	241
Acquired in-process research and development	691,000	60	47	69	84
Amortization of research and development cost share liability	−101	−73	−55	−96	−112
Impairment of equity investments	76	7	8	—	—
Loss on long-term investments	−596,000	−17	−9	—	—
Non-cash interest expense	15	0	0	—	—
Deferred income tax expense	9	26	689,000	2	3
Gain on BMS termination settlement	0	0	−363	0	0
Other items, net	−3	11	−6	9	24
Accounts receivable	−165	−329	−188	304	−423
Inventories	−93	−91	−141	−57	−153
Other assets	37	45	12	−3	−107
Accounts payable	80	121	21	−4	20
Accrued expenses and other payables	312	111	180	46	140
Deferred revenue	1	633,000	−256	−152	408
Other liabilities	19	−15	587,000	−1	−3
Net cash provided by (used in) operating activities	1,128	−141	−1,157	−1,497	−1,299
Purchases of property and equipment	−186	−493	−562	−325	−263
Purchase of in-process research and development	−61	−32	−15	−144	−9
Purchase of intangible assets	−20	−5	−19	0	−43
Purchase of long-term investments	−12	−19	−15	−16	−44
Proceeds from sale or maturity of short-term investments	3	3	673	1,564	3,147
Other investing activities	−1	−3	−2	−1	0
Net cash (used in) provided by investing activities	−276	−548	60	1,077	641
Proceeds from sale of future royalties	911	0	0	—	—
Proceeds from long-term loan	851	9	23	37	17
Repayment of long-term loan	−36	−28	−14	0	0
Proceeds from short-term loans	234	868	662	314	406
Repayment of short-term loans	−1,045	−704	−310	−417	−322
Payments of debt issuance costs	−23	0	0	—	—
Payments of withholding taxes from share-based awards	−24	0	0	—	—
Proceeds from option exercises and employee share purchase plan	196	45	56	47	93
Repayment of sale of future royalties liability	−4	0	0	—	—
Other financing activities	0	3	0	0	—
Net cash provided by financing activities	1,059	193	416	−19	3,637
Effect of foreign exchange rate changes, net	60	−52	−8	−69	14
Net increase (decrease) in cash, cash equivalents, and restricted cash	1,971	−547	−689	−508	2,993
Interest paid	52	51	20	25	—
Accruals for capital expenditures	57	70	92	95	53
Purchase of in-process research and development included in accounts payable	0	60	32	0	75

Filings

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