BeOne Medicines Ltd. (NASDAQ:ONC) shares gained 0.8% in premarket trading Thursday after the global oncology company posted third-quarter results that topped Wall Street expectations, powered by surging sales of its leading cancer therapy BRUKINSA.
The company reported adjusted earnings of $2.65 per American Depositary Share (ADS), far exceeding the analyst consensus of $0.80. Revenue totaled $1.41 billion, beating estimates of $1.37 billion and marking a 41% year-over-year increase.
Sales of BRUKINSA (zanubrutinib) were the standout, climbing 51% year over year to $1.0 billion. The BTK inhibitor now leads its class in global sales, with U.S. revenue up 47% to $739 million and European revenue up 68% to $163 million. Meanwhile, the company’s PD-1 inhibitor TEVIMBRA (tislelizumab) also contributed meaningfully, with sales of $191 million, up 17% from last year.
“These strong financial results reinforce our position as a global oncology leader with exceptional topline growth and a strong balance sheet,” said John V. Oyler, Co-Founder, Chairman and CEO at BeOne.
BeOne raised its 2025 full-year revenue guidance to a range of $5.1 billion to $5.3 billion, up from the previous forecast of $5.0 billion to $5.3 billion, comfortably above analyst projections of $3.75 billion. The company also narrowed its GAAP operating expense outlook to $4.1 billion–$4.3 billion, slightly reducing the upper end of its range.
Gross margin improved to 85.9% from 82.8% a year earlier, driven by the increasing share of BRUKINSA in total revenue and continued manufacturing efficiencies. Free cash flow reached $354 million, up sharply from $55 million in the same quarter last year.
BeOne highlighted continued pipeline momentum, with 47 abstracts accepted for presentation at the American Society of Hematology Annual Meeting. Among its pipeline candidates, sonrotoclax — a BCL2 inhibitor — recently received FDA Breakthrough Therapy Designation for relapsed or refractory mantle cell lymphoma, underscoring the firm’s innovation-driven growth strategy.