Burning Rock Biotech Ltd. Q4 FY2022 earnings call

• Completed profitability-driven organization optimization with 25% headcount reduction, achieved 11% Y-o-Y growth in 2022. • Listed on London Stock Exchange as an alternative to NASDAQ. • Therapy Selection: 13% volume growth, 9 genes panel approved by NMPA. • MRD: Clinical data publications, brPROPHET launched, overse granted FDA breakthrough device designation. • Biopharma: New contract value up 43%, strong backlog execution. • 2023 Goals: Aim to breakeven excluding R&D in a quarter, 20% revenue growth, strengthen leading position in multi-cancer detection (MCD).

Therapy Selection: Achieved 13% volume growth in 2022 despite COVID challenges, driven by in-hospital channel, and the 9 genes panel was approved by NMPA. Revenue contribution not specified. MRD: 2022 had clinical data publications, launched brPROPHET in March with increasing patient volume, overse granted FDA breakthrough device designation. Biopharma: New contract value increased 43% to RMB 263 million in 2022, over 200% revenue growth on strong backlog execution.

• 2023 revenue growth target is 20%. • Aim to breakeven excluding R&D during a quarter in 2023. • Continue R&D focus on multi-cancer detection.

• Uncertainties related to clinical trial outcomes for MCD and MRD products. • Regulatory approvals for new diagnostic products may face delays or uncertainties.

Q: Regarding the 2023 revenue growth target of 20%, how much from existing therapy selection portfolio, MRD, and early detection portfolio, and MRD contribution in 2022?

A: Yusheng Han stated OncoVue (therapy selection, MRD) as main driver, therapy selection initially, pharma continues growth, multi-cancer early detection has 40+ hospitals installed, focusing on Class III hospitals for marketing.

Q: Key commercial milestones for MRD and early detection, and ROI on sales/marketing?

A: Yusheng Han mentioned installing in-hospital model of brPROPHET in Q4, multi-cancer early detection has 40+ hospitals, focusing marketing on Class III hospitals to educate doctors.