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Beigene's Wang Xiaodong sells shares worth $9.19 million

Published 11/29/2024, 04:33 PM
BGNE
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These transactions highlight Wang's strategic financial maneuvers within BeiGene (NASDAQ:BGNE), a global biotechnology company focused on developing innovative molecularly targeted and immuno-oncology drug candidates for the treatment of cancer. InvestingPro subscribers have access to 11 additional investment tips for BeiGene, including detailed analysis of its growth prospects and market position. InvestingPro subscribers have access to 11 additional investment tips for BeiGene, including detailed analysis of its growth prospects and market position.

These transactions highlight Wang's strategic financial maneuvers within BeiGene, a global biotechnology company focused on developing innovative molecularly targeted and immuno-oncology drug candidates for the treatment of cancer. InvestingPro subscribers have access to 11 additional investment tips for BeiGene, including detailed analysis of its growth prospects and market position.

These transactions highlight Wang's strategic financial maneuvers within BeiGene, a global biotechnology company focused on developing innovative molecularly targeted and immuno-oncology drug candidates for the treatment of cancer.

In other recent news, BeiGene reported third-quarter earnings that exceeded consensus estimates, with a revenue of $1.1 billion, a 28% increase from the same period last year. The improvement was primarily driven by robust sales of their cancer drug, BRUKINSA, in the US and Europe. The company also reported a narrower loss per share of $0.09, lower than the prior-year quarter's earnings per share of $0.15.

In addition to the earnings report, BeiGene has reached a settlement agreement with MSN Pharmaceuticals, ensuring market exclusivity for BRUKINSA well into the next decade. Analyst firm TD Cowen raised its price target for BeiGene from $254 to $260, maintaining a Buy rating following the successful performance of BRUKINSA.

Furthermore, BeiGene announced a proposed name change to BeOne Medicines Ltd., pending shareholder approval. Bernstein also revised its projections on BeiGene's three significant drugs for B-cell malignancies: zanubrutinib, sonrotoclax, and BGB-16673, following BeiGene's recent earnings report. These recent developments highlight BeiGene's continued growth and operational efficiency in the biopharmaceutical industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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