(Yicai) Jan. 14 -- BeiGene’s stock price soared after the Chinese drugmaker said it expected to make its first operating profit this year.

BeiGene [SHA: 688235] closed 9.5 percent higher at CNY178.60 (USD24.36) in Shanghai today, while its Hong Kong-listed shares [HKG: 6160] gained 7.7 percent to HKD114.80 (USD14.75). Its US-traded stock [NASDAQ: ONC] rose 4.5 percent yesterday to USD184.61.

The Beijing-based company expects to make an operating profit under US generally accepted accounting principles in 2025, meaning operating revenue will exceed costs, it said today, citing remarks by Chief Executive John V. Oyler at the J.P. Morgan’s annual healthcare conference.

The forecast is based on a preliminary assessment of the global economic environment, industry development trends, and BeiGene’s operational status and growth trajectory, the company said, adding that it does not assume any potential major new business developments or extraordinary non-recurring items.

Founded in 2010, BeiGene has been running at a loss, but sales have been growing for its three self-developed novel drugs, all small-molecule anti-cancer therapies: Brukinsa, Tevimbra, and Partruvix. Thanks to the accelerated commercialization of these products, BeiGene's losses have been narrowing.

The firm’s net loss shrank 4 percent to USD492.9 million in the first three quarters of 2024 from a year earlier, according to the company’s latest financial report. Its operating loss narrowed 41 percent to USD488.8 million, while revenue jumped 47 percent to USD2.7 billion.

Brukinsa had third-quarter sales of USD504 million in the United States and USD97 million in Europe, climbing 87 percent and just over three times, respectively. Global sales of Tevimbra hit USD163 million, up 13 percent gain.

Editor: Tom Litting