Burning Rock Biotech Ltd. (China)

The Company, together with its subsidiaries, the VIE and the VIE's subsidiaries are principally engaged in the developing and providing cancer therapy selection test in the People's Republic of China (the “PRC” or “China”).
The Company aim to transform precision oncology and early cancer detection. The Company is China's leading NGS-based cancer therapy selection company. Its cancer therapy selection platform is built upon its advanced proprietary technologies, comprehensive portfolio of products and a two-pronged market-driven commercial infrastructure addressing both larger hospitals through its in-hospital model and smaller hospitals through its central laboratory model.
The Company had three operating segments, including central laboratory business, in-hospital business and pharma research and development services.
- Central laboratory business revenue is generated from sales of our cancer therapy selection tests to individual patients. Patients pay us for these tests with out-of-pocket payments after their physicians have ordered our tests. We recognize revenue upon the delivery of test reports to the individual patients.
- Under ourin-hospitalbusiness, the Company in some instances facilitate the hospitals' procurement of laboratory equipment required to set up theirin-hospitallaboratories, for which the Company charge a fee, and sell its reagent kits to hospitals for them to perform cancer therapy selection testing in thein-hospitallaboratories the Company helped them establish. Revenues from fees the Company receives for facilitating laboratory equipment purchases are recorded on a net basis when the Company has completed its facilitation services. Revenues from reagent kit sales are recorded on a gross basis when the reagent kits are delivered to hospitals.
- The Company provides pharmaceutical research and development services to international and domestic pharmaceutical companies primarily in relation to the development of targeted therapies and immunotherapies for various types of cancer, and to hospitals for their studies on cancer diagnosis and treatment. The Company also provides companion diagnostics development service to pharmaceutical companies.
HISTORY
2014 The Company commenced its operation in January 2014 through Burning Rock (Beijing) Biotechnology Co., Ltd., a PRC company.
The Company is a limited liability Company incorporated in the Cayman Islands on March 10, 2014.
Subsequently, the Company established BR Hong Kong Limited as its intermediate holding company in April 2014, which in turn established a wholly-owned PRC subsidiary, Beijing Burning Rock Biotech Limited, its WFOE, in June 2014.
2020 The Company s ADSs commenced trading on NASDAQ Global Market under the symbol “BNR” on June 12, 2020.
2022 On November 1, 2022, the Company s ADSs was admitted to the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange plc under the ticker “BNR.”