ONC

EX-99.1

2 a20260826form8-kxexhibit991.htm

EX-99.1

Document

Exhibit 99.1

Financial Information

On August 26, 2026, BeOne Medicines Ltd. (the “Company”) filed its 2026 Interim Report for the six months ended June 30, 2026 (the “STAR Interim Report”) with the Science and Technology Innovation Board (the “STAR Market”) of the Shanghai Stock Exchange, which was prepared in accordance with the listing rules of the STAR Market and the applicable securities laws and regulations of the Peoples’ Republic of China (the “PRC” and the “PRC Securities Laws”). The STAR Interim Report is available to the public in Chinese language only on the website maintained by the Shanghai Stock Exchange at www.sse.com.cn.

As required by the PRC Securities Laws, the STAR Interim Report contains additional financial information regarding the Company’s research and development expenses allocated by key products and other research and development projects for the six months ended June 30, 2026 (the “Reporting Period”), prepared in accordance with the China Accounting Standards for Business Enterprises – Basic Standard (“CAS”) and other applicable PRC accounting rules, guidance and interpretations (together with CAS, “PRC GAAP”), including but not limited to the China Securities Regulatory Commission's Compilation Rule for Information Disclosure by Companies Offering Securities to the Public No. 15 – General Rules for Financial Statement (2023 revised), and Compilation Rule for Information Disclosure by Companies Offering Securities to the Public No. 24-Special Provisions on Information Disclosure in Financial Statements of Pilot Innovative Red-chip Companies on the Sci-Tech Innovation Board.  The key differences between such financial information prepared in accordance with PRC GAAP and those prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for the Reporting Period, which was previously filed with the U.S. Securities and Exchange Commission, are summarized below.

Key Differences between U.S. GAAP and PRC GAAP

Share-based Compensation

Under U.S. GAAP, the Company elects to recognize share-based compensation expenses using the straight-line method for all employee equity awards granted with graded vesting based on service conditions, provided that the amount of compensation cost recognized at any date is at least equal to the portion of the grant-date value of the options that are vested as of that date.

Under PRC GAAP, the Company recognizes share-based compensation expense using the accelerated method for all employee equity awards granted with graded vesting.

Under PRC GAAP, the excess tax benefit resulting from the pre-tax deductible amount arising from U.S. employee share-based payments over the cumulative share-based payment-related expenses recognized for accounting purposes should be recorded in shareholders’ equity rather than in current income tax expenses/benefits under U.S. GAAP.

Income Taxes in the Interim Period

Under U.S. GAAP, one overall estimated annual effective tax rate should be used to determine the interim period tax expense or benefit when a company is subject to tax in one or more jurisdictions.

PRC GAAP requires that an entity determine a separate estimated average annual effective income tax rate for each taxing jurisdiction and apply it individually to the interim period pre-tax income of each jurisdiction.

Leasing

Under U.S. GAAP, as a lessee, the Company recognizes a lease liability based on the present value of the total remaining lease payments, and a corresponding right-of-use asset. The Company subsequently recognizes operating lease expenses on a straight-line basis over the lease term.

PRC GAAP requires lessees to present interest expenses on the lease liability and depreciation on the right-of-use assets separately in the statements of operations. The combination of a straight-line depreciation of the right-of-use assets and the effective interest rate method applied to the lease liability will result in a higher total charge to profit or loss in the initial years of the leases and decreasing expenses during the latter part of the lease term.

Transfer of Royalties from Collaborative Arrangement

The Company is engaged in collaborative drug development and is entitled to receive royalty revenue from drug sales during the collaboration period. In 2025, the Company transferred its royalty rights to an independent third party for a fixed upfront cash consideration.

Under U.S. GAAP, the Company records upfront payments received from the sale of future royalties as a liability. Royalty payments made to the purchaser are recorded as a reduction of the liability or accrued interest. The Company accounts for the associated interest expense under the effective interest rate method, while continuing to recognize the full amount of royalty revenue in the period in which the counterparty sells the related product and recognizes the related reven

EX-99.1

2 exhibit991-q22026earningsr.htm

EX-99.1

Document

Exhibit 99.1

BeOne Medicines Announces Second Quarter 2026 Financial Results and Business Updates

•Total global revenues of $1.7 billion for the second quarter, an increase of 30% from the prior year

•BRUKINSA (zanubrutinib) global revenues of $1.2 billion for the second quarter, an increase of 31% from the prior year

•Diluted GAAP Earnings per American Depository Share (ADS) of $2.05 for the second quarter; non-GAAP diluted Earnings per ADS of $3.84 for the second quarter

•Raised 2026 total revenue guidance to $6.6 to $6.8 billion; GAAP operating income of $1 to $1.1 billion, non-GAAP operating income of $1.7 to $1.8 billion

SAN CARLOS, Calif. – August 5, 2026 – BeOne Medicines Ltd. (NASDAQ: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced financial results and corporate updates from the second quarter of 2026.

John V. Oyler, Co-Founder, Chairman, and CEO, BeOne, said:

“These strong second-quarter results underscore our continued growth as a global oncology leader. Our foundational hematology franchise, led by BRUKINSA, continues to gain momentum as we advance one of the industry’s deepest and most diverse pipelines. With differentiated capabilities spanning drug discovery, clinical development, manufacturing, and commercialization, we are well positioned for our next phase of global growth.”

(Amounts in thousands of U.S. dollars and unaudited)

Three Months EndedSix Months Ended

June 30,June 30,

20262025% Change20262025% Change

Net product revenues$1,679,794 $1,302,076 29 %$3,167,123 $2,410,606 31 %

Other revenue$25,277 $13,224 91 %$51,386 $21,973 134 %

Total revenue$1,705,071 $1,315,300 30 %$3,218,509 $2,432,579 32 %

GAAP income from operations$325,047 $87,885 270 %$574,949 $98,987 481 %

Adjusted income from operations*$503,029 $274,945 83 %$917,423 $414,302 121 %

GAAP net income$237,007 $94,320 151 %$464,364 $95,590 386 %

Adjusted net income*$444,497 $252,822 76 %$819,539 $388,959 111 %

GAAP basic EPS per ADS$2.12 $0.87 144 %$4.17 $0.89 369 %

Adjusted basic EPS per ADS*$3.98 $2.33 71 %$7.37 $3.61 104 %

GAAP diluted EPS per ADS$2.05 $0.84 144 %$4.01 $0.85 372 %

Adjusted diluted EPS per ADS*$3.84 $2.25 71 %$7.08 $3.48 103 %

Free Cash Flow*$435,344 $219,772 98 %$595,891 $207,447 187 %

* For an explanation of our use of non-GAAP financial measures, refer to the “Note Regarding Use of Non-GAAP Financial Measures” section later in this press release and for a reconciliation of each non-GAAP financial measure to the most comparable GAAP measures, see the table at the end of this press release.

Exhibit 99.1

Second Quarter 2026 Financial Results

Product Revenue totaled $1.7 billion for the second quarter of 2026, representing growth of 29% compared to the prior-year period.

•BRUKINSA: Global sales totaled $1.2 billion for the second quarter of 2026, representing growth of 31% compared to the prior-year period; U.S. sales of BRUKINSA totaled $893 million in the second quarter of 2026, representing growth of 31% compared to the prior-year period.

•TEVIMBRA (tislelizumab): Global sales totaled $229 million in the second quarter of 2026, representing growth of 18% compared to the prior-year period.

•Amgen in-licensed products: Global sales totaled $157 million in the second quarter of 2026, representing growth of 25% compared to the prior-year period.

Gross Margin as a percentage of global product sales for the second quarter of 2026 was 90%, compared to 87% in the prior-year period on a GAAP basis. The gross margin percentage increased due to a proportionally higher sales mix of global BRUKINSA compared to other products in the Company’s portfolio. Gross margin also benefited from productivity improvements resulting in lower costs for both BRUKINSA and TEVIMBRA.

Operating Expenses

The following table summarizes operating expenses for the second quarter of 2026:

GAAPNon-GAAP

(unaudited, in thousands, except percentages)Q2 2026Q2 2025% ChangeQ2 2026Q2 2025% Change

Research and development $612,280 $524,896 17 %$533,950 $444,057 20 %

Selling, general and administrative $593,214 $537,913 10 %$500,674 $441,655 13 %

Total operating expenses$1,205,494 $1,062,809 13 %$1,034,624 $885,712 17 %

The following table summarizes operating expenses for the first half of 2026:

GAAPNon-GAAP

(unaudited, in thousands, except percentages)Q2 YTD 2026Q2 YTD 2025% ChangeQ2 YTD 2026Q2 YTD 2025% Change

Research and development $1,153,504 $1,006,783 15 %$999,854 $865,252 16 %

Selling, general and administrative $1,148,311 $997,201 15 %$972,667 $837,166 16 %

Total operating expenses$2,301,815 $2,003,984 15 %$1,972,521 $1,702,418 16 %

Research and Development (R&D) Expenses increased for the second quarter of 2026 compared to the prior-year period on both a GAAP and adjusted basis due to advancing early clinical programs into late stage and preclinical programs into the clinic. Upfront fees and milestone payments r

EX-99.1

2 exhibit991-q12026earningsr.htm

EX-99.1

Document

Exhibit 99.1

BeOne Medicines Announces First Quarter 2026 Financial Results and Business Updates

•Total global revenues of $1.5 billion for the first quarter, an increase of 35% from the prior year

•Foundational BRUKINSA (zanubrutinib) global revenues of $1.1 billion for the first quarter, an increase of 38% from the prior year

•Diluted GAAP Earnings per American Depository Share (ADS) of $1.96 for the first quarter; non-GAAP diluted Earnings per ADS of $3.24 for the first quarter

SAN CARLOS, Calif. – May 6, 2026 – BeOne Medicines Ltd. (NASDAQ: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced financial results and corporate updates from the first quarter of 2026.

John V. Oyler, Co-Founder, Chairman, and CEO, BeOne, said:

“These strong first-quarter results reinforce BeOne’s continued growth as a global oncology leader, driven by disciplined commercial execution, and underpinned by our established hematology leadership, and an impressive, rapidly emerging solid tumor pipeline. The sustained competitive advantages of our global superhighway for clinical development and manufacturing are now clear. BRUKINSA has firmly established itself as the foundational, best-in-class BTK inhibitor with unmatched long-term efficacy and safety data for the treatment of CLL and as the only BTKi with proven efficacy superiority over ibrutinib which has resulted in clear global revenue leadership. The fixed-duration combination of sonrotoclax, a foundational, next-generation BCL2 inhibitor, and BRUKINSA represents a potential new standard-of-care in first-line CLL, with BTK CDAC BGB-16673 emerging as a potential first-in-class therapy in the relapsed or refractory setting. With more than 20 abstracts across our hematology and solid tumor pipeline accepted for presentation at ASCO, BeOne has solidified its position as a leading oncology company.”

(Amounts in thousands of U.S. dollars and unaudited)

Three Months Ended

March 31,

20262025% Change

Net product revenues$1,487,329 $1,108,530 34 %

Other revenue$26,109 $8,749 198 %

Total revenue$1,513,438 $1,117,279 35 %

GAAP income from operations$249,902 $11,102 2,151 %

Adjusted income from operations*$414,394 $139,357 197 %

GAAP net income$227,357 $1,270 17,802 %

Adjusted net income*$375,042 $136,137 175 %

GAAP basic EPS per ADS$2.05 $0.01 20,400 %

Adjusted basic EPS per ADS*$3.38 $1.27 166 %

GAAP diluted EPS per ADS$1.96 $0.01 19,500 %

Adjusted diluted EPS per ADS*$3.24 $1.22 166 %

Free Cash Flow*$160,547 $(12,325)1,403 %

* For an explanation of our use of non-GAAP financial measures, refer to the “Note Regarding Use of Non-GAAP Financial Measures” section later in this press release and for a reconciliation of each non-GAAP financial measure to the most comparable GAAP measures, see the table at the end of this press release.

Exhibit 99.1

First Quarter 2026 Financial Results

Product Revenue totaled $1.5 billion for the first quarter of 2026, representing growth of 34% compared to the prior-year period.

•BRUKINSA: Global sales totaled $1.1 billion for the first quarter of 2026, representing growth of 38% compared to the prior-year period; U.S. sales of BRUKINSA totaled $761 million in the first quarter of 2026, representing growth of 35% compared to the prior-year period.

•TEVIMBRA (tislelizumab): Global sales totaled $206 million in the first quarter of 2026, representing growth of 20% compared to the prior-year period.

•Amgen in-licensed products: Global sales totaled $142 million in the first quarter of 2026, representing growth of 25% compared to the prior-year period.

Gross Margin as a percentage of global product sales for the first quarter of 2026 was 89%, compared to 85% in the prior-year period on a GAAP basis. The gross margin percentage increased due to a proportionally higher sales mix of global BRUKINSA compared to other products in our portfolio. Gross margin also benefited from productivity improvements resulting in lower costs for both BRUKINSA and TEVIMBRA.

Operating Expenses

The following table summarizes operating expenses for the first quarter of 2026:

GAAPNon-GAAP

(unaudited, in thousands, except percentages)Q1 2026Q1 2025% ChangeQ1 2026Q1 2025% Change

Research and development $541,224 $481,887 12 %$465,904 $421,195 11 %

Selling, general and administrative $555,097 $459,288 21 %$471,993 $395,511 19 %

Total operating expenses$1,096,321 $941,175 16 %$937,897 $816,706 15 %

Research and Development (R&D) Expenses increased for the first quarter of 2026 compared to the prior-year period on both a GAAP and adjusted basis due to advancing preclinical programs into the clinic and early clinical programs into late stage.

Selling, General and Administrative (SG&A) Expenses increased for the first quarter of 2026 compared to the prior-year period on both a GAAP and adjusted basis due to continued investment to support commercial growth. SG&A expenses