BeiGene Ltd. (NASDAQ:) Interim Financial Results for H1 2024 Revealed
BeiGene Ltd., a leading pharmaceutical company, has unveiled its interim financial results for the first half of 2024 today, in accordance with the China Accounting Standards for Business Enterprises. The report, filed with the Shanghai Stock Exchange's STAR Market, adheres to the listing rules and securities laws of the People's Republic of China (PRC).
The 2024 Interim Report provides financial information for the six months ended June 30, 2024, under PRC GAAP. It sheds light on the company's financial condition, including research and development expenses allocated by key products. While the report is in Chinese on the Shanghai Stock Exchange website, it is important to note that the information is not filed with the U.S. Securities and Exchange Commission.
BeiGene's financials prepared under U.S. GAAP, showcasing the variations between PRC GAAP and U.S. GAAP, can be found in the 8-K filing. This supplemental information is not considered "filed" for the purposes of Section 18 of the Exchange Act.
As BeiGene presents its financial results, InvestingPro offers valuable insights. With a robust revenue growth of 71.01% over the last twelve months as of Q2 2024, BeiGene is expanding its market presence. Although analysts do not expect profitability this year, the company has shown strong returns over the last month and three months. InvestingPro's fair value estimate of $210.32 suggests potential undervaluation compared to analyst target prices.
In conclusion, BeiGene's financial performance and market potential provide investors with valuable information to make informed decisions about their portfolio positions.