Beigene Ltd (NASDAQ:BGNE) shares are in an interesting position, hovering just above the 50-day simple moving average and working in the suddenly explosive immunotherapy oncology space. The big themes right now that are exciting investors are CAR-T, PARP, bispecific antibody, and immunotherapy. These are the four horseman of the oncology space in terms of future investment.
BGNE is in that equation. The company recently announced that the first patients have been enrolled in two global Phase 3 clinical trials of its investigational anti-PD-1 antibody, tislelizumab. According to the release, these trials are evaluating tislelizumab combined with chemotherapy as potential first-line treatments in patients with locally advanced unresectable or metastatic gastric or gastroesophageal junction adenocarcinoma, and in patients with unresectable, locally advanced recurrent or metastatic esophageal squamous cell carcinoma (ESCC).
Beigene Ltd (NASDAQ:BGNE), as we briefly noted, promulgates itself as a company that develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer.
Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
The company’s clinical stage drug candidates include BGB-3111, a small molecule Bruton’s tyrosine kinase (BTK) inhibitor for the treatment of lymphomas; BGB-A317, a humanized monoclonal antibody for solid and hematological cancers; BGB-290, a small molecule inhibitor of PARP1 and PARP2 for the treatment of homologous recombination deficient cancers; BGB-283, a small molecule RAF dimer inhibitor to treat cancers with aberrations in the mitogen-activated protein kinase pathway; BGB-A333, an humanized monoclonal antibody for the immune checkpoint receptor ligand PD-L1; and MGCD-0516, a multi-kinase inhibitor.
Its preclinical programs consists of therapies and immuno-oncology agents, including an additional RAF dimer inhibitor, a TIM-3 cell surface protein monoclonal antibody, and a BTK inhibitor for non-oncology indications.
The company has strategic collaborations with Celgene Corporation to research and develop BeiGene, Ltd.’s investigational anti-programmed cell death protein 1 inhibitor, BGB-A317; Merck KGaA to research and develop on BGB-290 and BGB-283; and MEI Pharma, Inc. to evaluate the safety and efficacy of ME-401, an investigational PI3K delta inhibitor in combination with BeiGene’s zanubrutinib, an investigational BTK inhibitor for the treatment of patients with B-cell malignancies. BeiGene, Ltd. was founded in 2010 and is based in George Town, the Cayman Islands.
Don’t Drop the Ball
We started off by noting that BGNE recently hit the wires with the announcement that the first patients have been enrolled in two global Phase 3 clinical trials of its investigational anti-PD-1 antibody, tislelizumab.
While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action BGNE shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -2% on above average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities. Shares of the stock have powered higher over the past month, rallying roughly 5% in that time on strong overall action.
“Available data have shown promise for anti-PD-1 antibodies in patients with advanced gastric or gastroesophageal adenocarcinoma and in patients with advanced esophageal carcinoma. We are looking forward to investigating tislelizumab globally in these Phase 3 trials,” said Amy Peterson, M.D., Chief Medical Officer, Immuno-Oncology, at BeiGene. “Gastric and esophageal cancers are among the most common malignancies in Asia and collectively are responsible for over 800,000 deaths annually in China1 alone. We are hopeful that these global studies of tislelizumab may ultimately lead to improved treatment options for patients diagnosed with these malignancies.”
Beigene Ltd (NASDAQ:BGNE) managed to rope in revenues totaling $425.2M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -75.3%, as compared to year-ago data in comparable terms.
In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($16B against $1.5B).