BEONE MEDICINES (06160) saw its shares climb more than 4% during Tuesday's trading session following the release of its quarterly results. As of the latest update, the stock was up 2.46% to HK$204.40, with trading volume reaching HK$699 million.
On August 6, the company reported its second-quarter 2026 financial results. Global total revenue reached approximately $1.705 billion, representing a 30% year-on-year increase. GAAP net profit stood at about $237 million, up 151% from the prior year, while adjusted net profit reached approximately $444 million, climbing 76% year-on-year.
Product revenue for the second quarter of 2026 was $1.7 billion, a 29% increase compared to the same period last year. BEONE MEDICINES' flagship drug, Brukinsa, generated global sales of $1.2 billion in the second quarter, up 31% year-on-year. In the U.S. market specifically, Brukinsa sales reached $893 million, also rising 31% year-on-year. Meanwhile, Tevimbra (tislelizumab) posted global sales of $229 million in the second quarter, up 18% year-on-year. Revenue from Amgen licensed products totaled $157 million globally during the quarter, a 25% increase from the prior year.
UOB Kay Hian released a research report stating that BEONE MEDICINES' first-half revenue grew 32.3% year-on-year to $3.219 billion, while adjusted net profit surged 110.7% year-on-year to $820 million. Both figures exceeded the brokerage's expectations and market consensus. The interim revenue and adjusted net profit represented 49.7% and 59.7% of UOB Kay Hian's full-year forecasts, respectively, indicating progress ahead of schedule. The firm has raised its revenue forecasts for BEONE MEDICINES for 2026 through 2028 by 5.8%, 5.9%, and 5.9%, respectively, and increased its adjusted earnings estimates by 19.9%, 12%, and 3.8% over the same period. UOB Kay Hian has lifted its target price to HK$265 while maintaining a "Buy" rating on the stock.
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