Burning Rock Biotech slips on downbeat Q1 revenue, bigger net loss

Burning Rock Biotech

25/05/2021 14:51

** Shares of China-based cancer diagnostic test maker
 BNR.O  fall 7.7% to $31.05 in early trading, down for a third
straight session
    ** Co's Q1 net loss of 171.4 mln yuan ($26.76 mln) on rev of
106.6 mln yuan misses Refinitiv est for loss of 156.30 mln yuan
on rev of 125.90 mln yuan
    ** Results impacted by higher operating expenses and lower
pharma research and development services rev, partially offset
by growth in central laboratory and in-hospital business
segments  urn:newsml:reuters.com:*:nGNXMwywM
    ** Assuming no additional COVID-19 related restrictions in
China, BNR reiterates 610 mln yuan FY21 rev estimate, implying a
41.9% y-o-y growth and beating Street expectations 
    ** Co misses rev est after three straight qtrly beats, posts
downbeat net income for the third consecutive qtr - Refinitiv
data
    ** All three brokerages covering the stock rate it "buy" or
higher; their median PT is $150.89
    ** Shares up 45.7% for the year
    
($1 = 6.4062 Chinese yuan)

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))