Beigene Ltd (ADR)(NASDAQ: BGNE) stock enhanced over 14.6% on Jan 18th, 2018 (As of 12:24PM EST; Source: Google finance) leading to a total rally of over 20.4% in this year to date.
The group made a follow-on public offering of 7,425,750 American Depositary Shares (ADSs), at a price to the public of $101.00 per ADS leading to proceeds of over $750 million. Moreover, they granted to purchase up to a further 495,050 ADSs at the public offering price, less underwriting discounts and commissions.
The group along with Boehringer Ingelheim Biopharmaceuticals made a commercial supply agreement for tislelizumab, which is their investigational anti-PD-1 antibody. Tislelizumab would be manufactured in Boehringer Ingelheim’s manufacturing facility at Shanghai as part of a Marketing Authorization Holder (MAH) trial project pioneered by BeiGene and Boehringer Ingelheim
The group is advancing tislelizumab towards potential regulatory approval and commercializing in China, to get their commercial product supply from Boehringer Ingelheim BioXcellence, one of the world’s leading biopharmaceutical contract manufacturers.
Apart from tislelizumab , the group has Zanubrutinib (BGB-3111) — an investigational small molecule inhibitor of Bruton’s tyrosine kinase, or BTK, that is being evaluated in a broad registrational clinical program globally and in China as a monotherapy and in combination with other therapies to treat various lymphomas. They also have Pamiparib (BGB-290) which is again a investigational small molecule inhibitor of PARP1 and PARP2 that is being evaluated as a potential monotherapy and in combination for various solid tumors. This is a major clinical trial in China and would enter the late-stage development globally in 2018.
The group is also building a manufacturing facility for biologics commercial supply in Guangzhou, China, which is a joint venture with the Guangzhou Development District. They intend to further expand their capacity to meet their anticipated demand for tislelizumab and other biologics in pipeline.
Last year, they made a strategic collaboration with Celgene for commercializing tislelizumab for solid tumors in the United States, Europe, Japan, and the rest of the world outside of Asia. The group retained rights to tislelizumab for solid tumors in Asia (ex-Japan) and for hematological malignancies and internal combinations globally.