Huangpu oncology diagnostics company debuts on Nasdaq

Burning Rock Biotech (stock code: BNR) successfully lists its shares on the Nasdaq on June 12.

Burning Rock Biotech (stock code: BNR) has successfully listed its shares on the Nasdaq on June 12, being the first of its kind to be listed on the Nasdaq from China in featuring the next-generation sequencing (NGS) diagnostics of tumors. 

The initial public offering price was $16.50 per American depositary share, raising about $250 million.

 Set up in Guangzhou's Huangpu district in 2014, Burning Rock Biotech specializes in NGS diagnostics solutions for precision medicine in oncology.

The investment in research and development made by the company in 2019 amounted to 157 million yuan ($22.15 million), accounting for 41 percent of its operating income that year, being the ratio among all company's expenditures to the annual operation income.

Han Yusheng, founder and CEO of the company, said that Burning Rock Biotech hopes to become a pioneer in the global medicine industry. The company will keep increasing its investment in R&D after being listed on the Nasdaq to provide more products and services catering to the clinical treatment needs of cancer patients.

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