Burning Rock Biotech Loss Shrinks In Q2

(RTTNews) - China-based Burning Rock Biotech Ltd (BNR) on Monday reported second-quarter results with a narrowed loss, aided by lower research and development expenses and improved revenues.

In the quarter, net loss attributable to ordinary shareholders shrank to RMB 9.70 million or $1.35 million from a loss of RMB 108.04 million a year ago.

Loss per share for class A and B shares amounted to RMB 0.09 or $0.01, compared to a loss of RMB 1.05 in the prior year.

Loss before income tax narrowed to RMB 9.46 million or $1.32 million from loss of RMB 107.85 million a year ago.

Total revenues improved 9.6% to RMB148.55 million or $20.74 million from RMB135.53 million in the prior year. The rise was backed by increased sales volume from existing and new contracted partner hospitals and improved development and testing services to customers.

Revenue generated from in-hospital business increased 4.4% to RMB62.5 million or $8.7 million from RMB59.9 million a year ago.

Revenue generated from pharma research and development services rose 68.1% to RMB45.2 million or $6.3 million from RMB 26.9 million a year ago.

Meanwhile, revenue generated from the central laboratory business decreased 16.2% to RMB40.9 million or $5.7 million from RMB48.8 million in the prior year, due to a decrease in the number of tests during in hospital testing transition.