BeOne Medicines Ltd. Q1 FY2026 earnings call

John Euler highlighted Brukinza's strong commercial and clinical progress with first-quarter sales of 1.1 billion and 38% growth. Sonro and BTK-CDAC are progressing. Lai Wang discussed pipeline progress in hematology, including Bokinsa's phase III study and BTK-CDAC advance, and in solid tumors, such as Devambra's U.S. priority review, CDK4 inhibitor progress, and GPC341BB bispecific enrollment in a potentially pivotal HCC study, along with selective external innovation

Product revenue reached $1.5 billion in Q1, up 34% year-over-year. Brukinza global revenues totaled $1.1 billion, a 38% year-over-year growth. In the U.S., Brukinza's Q1 sales were 761 million, driven by approximately 28% volume growth compared to Q1 2025. Tevimbra saw a 20% increase with sustained market leadership in China, and about half of its growth came from markets outside China. InLicense and other products grew 27% year-over-year. XGiva had $90 million in revenue. Sunratoclax had a good reception in China. Gross margin improved to 89% from around 85% in the prior year. Operating expenses grew 16% to $1.1 billion. Income from operations was $250 million, net income was $227 million, and free cash flow was $161 million. The 2026 revenue guidance was raised to between $6.3 billion to $6.5 billion, an increase of $100 million across the range

The 2026 revenue guidance is raised to $6.3 billion to $6.5 billion, an increase of $100 million across the range. GAAP gross margin remains in the high 80% range. GAAP operating expense expectations stay between $4.7 billion and $4.9 billion. GAAP operating income estimates are updated to between $750 million and $850 million

Q: Miguel Nachovenbevich inquired about Brukinza vs competitor's claims, A: Amit Agarwal discussed IRC data and study conduct principles.

Q: Kalpit Patel asked about Celestial TN-CLL trial UMRD and CDAC efficacy hurdle, A: John Euler talked about study setup and benchmark.

Q: Jessica Five asked about Brukinza's launch in Europe and CDAC launch ramp, A: John Euler and others spoke about Europe launch and CDAC launch plans.

Q: Leonid Timoshev asked about immunology programs, A: Lai Wang talked about CSU phase two and IRAC4 discontinuation.

Q: Zee Chen asked about PD1 VGF CTLA-4 trispecific, A: Lai Wang discussed molecule differentiation.

Q: Gregory Renza asked about guidance and net pricing, A: Aaron Rosenberg talked about growth and net pricing.

Q: Michael Schmidt asked about GPC 341BB and HCC pivotal study, A: Mark Lanassa talked about data.

Q: Rennie Benjamin asked about Sonroclax launch in China and U.S. competition, A: Xiaobin Wu and others talked about China launch and U.S. impact.

Q: Yaron Werber asked about AV traction and CDK4 inhibitor at ASCO, A: Mark Lanassa talked about AV and CDK4 data.

Q: Sean Laman asked about operating leverage, A: Aaron Rosenberg talked about growth and operating leverage