CAMBRIDGE, Mass. and BEIJING, China, June 28, 2019 (GLOBE NEWSWIRE) -- BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160), a commercial-stage biopharmaceutical company focused on developing and commercializing innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer, today announced that, following its application to the Stock Exchange of Hong Kong Limited (HKEX), the Company has been approved for listing under Rule 8.05(3) as a company that meets specified revenue and market capitalization thresholds. BeiGene initially listed on the HKEX on August 8, 2018 under the biotech chapter (Chapter 18A) of the Listing Rules. The Company now satisfies the revenue and market capitalization tests for listing outside of the biotech chapter. As a result of the approval, the “B” marker will be removed from the Company’s stock symbol in the HKEX, and the Company’s ordinary shares may become eligible for listing in the Hang Seng indices.
“We are pleased to become the first company listed on HKEX through the pre-revenue biotech chapter to transition into a general listing as a result of substantial revenues generated from our commercial portfolio. We are excited about the expected upcoming approvals and launches of zanubrutinib and tislelizumab to generate additional revenue opportunities and further our growth as a biotech company,” said John Oyler, Co-Founder, Chairman and Chief Executive Officer of BeiGene. “One of our goals for listing on the HKEX has been to access a broader investor base, and with this approval we are making progress toward this goal.”
BeiGene is a global, commercial-stage, research-based biotechnology company focused on molecularly-targeted and immuno-oncology cancer therapeutics. With a team of over 2,500 employees in China, the United States, Australia and Europe, BeiGene is advancing a pipeline consisting of novel oral small molecules and monoclonal antibodies for cancer. BeiGene is also working to create combination solutions aimed to have both a meaningful and lasting impact on cancer patients. BeiGene markets ABRAXANE® (nanoparticle albumin–bound paclitaxel), REVLIMID® (lenalidomide), and VIDAZA® (azacitidine) in China under a license from Celgene Corporation.i
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding the transfer of BeiGene’s listing on the Hong Kong Stock Exchange from the biotech chapter to the rules governing companies that meet specified revenue and market capitalization thresholds, the potential inclusion of BeiGene’s ordinary shares in the Hang Seng Index, and the potential approvals, launches and revenue opportunities from zanubrutinib and tislelizumab. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeiGene's ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials and marketing approval; BeiGene's ability to achieve commercial success for its marketed products and drug candidates, if approved; BeiGene's ability to obtain and maintain protection of intellectual property for its technology and drugs; BeiGene's reliance on third parties to conduct drug development, manufacturing and other services; BeiGene’s limited operating history and BeiGene's ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates, as well as those risks more fully discussed in the section entitled “Risk Factors” in BeiGene’s most recent quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in BeiGene's subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeiGene undertakes no duty to update such information unless required by law.
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i ABRAXANE®, REVLIMID® and VIDAZA® are registered trademarks of Celgene Corporation.
Source: BeiGene, LTD.