Stock Track | Burning Rock Biotech Surges 5.9% as CFO Resigns, Replacement Named

Stock Track09-27

Shares of Burning Rock Biotech Limited (NASDAQ: BNR), a company focused on applying next-generation sequencing (NGS) technology in precision oncology, surged 5.9% on Friday after the company announced changes to its management and board of directors.

The company disclosed that its Chief Financial Officer, Leo Li, has resigned from his position and as a member of the board of directors, effective September 27, 2024. Burning Rock stated that Li's resignation was for personal reasons and not due to any disagreement with the board or issues with the company's operations or practices.

To ensure a smooth transition, Burning Rock has appointed Xiaozhi Hu, the current senior director in finance, to oversee the company's financial operations, financial reporting, and related matters. Hu will report directly to Yusheng Han, the chairman of the board and chief executive officer. The company praised Hu's extensive experience in financial management, having joined Burning Rock in May 2014.

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