Headquartered in Guangzhou, China, and established in 2014, Burning Rock Biotech Limited is primarily engaged in developing and providing diagnostic solutions for cancer therapy selection within the People's Republic of China. Its operations are structured across three key segments: Central Laboratory Business, In-Hospital Business, and Pharma Research and Development Services. The company leverages next-generation sequencing (NGS) technology to offer a diverse portfolio of tests designed to guide therapeutic decisions and predict prognoses for a wide array of cancer types. These include, but are not limited to, lung, gastrointestinal, prostate, breast, lymphomas, thyroid, colorectal, ovarian, pancreatic, and bladder cancers. These analyses can be performed on both tissue and liquid biopsy samples. Burning Rock's flagship products encompass OncoCompass IO, a liquid biopsy test; OncoScreen IO, a comprehensive pan-cancer test for tissue samples; OncoCompass Target, a circulating tumor DNA (ctDNA) liquid biopsy-based test specifically for non-small cell lung cancer (NSCLC); ColonCore, which assesses microsatellite instability (MSI) and identifies genetic mutations relevant to gastrointestinal cancers; and the OncoScreen ParpMatch and OncoCompass ParpMatch tests, which target genes critical for homologous recombination deficiency. To further enhance its offerings, the company has entered into strategic agreements, including a development and commercialization license with Myriad Genetics, Inc. for Myriad myChoice tumor testing in China, and a licensing agreement with Oncocyte Corporation for DetermaRx, a risk stratification test for early-stage lung cancer patients, also for the Chinese market. Burning Rock also actively collaborates on clinical trials and research studies with a notable roster of pharmaceutical and biotech partners, such as AstraZeneca, Bayer, Johnson & Johnson, CStone, BeiGene, Abbisko Therapeutics, IMPACT Therapeutics, and Merck KGaA.
Burning Rock Reports Second Quarter 2026 Financial Results
Burning Rock Biotech reported Q2 2026 revenue of RMB134.7 million (US$19.9 million), down 9.3% year-over-year but up sequentially from RMB107.9 million in Q1, which management called the anticipated recovery from first-quarter order volatility.
The mix was uneven: in-hospital revenue grew 7.4% YoY to RMB67.1 million, while central laboratory revenue fell 10.0% on the ongoing transition to in-hospital channels and pharma R&D services dropped 31.8% on lower testing volumes.
Net loss widened to RMB18.4 million (US$2.7 million) from RMB9.7 million a year ago, with loss per share of RMB0.17 (US$0.02), though gross margin held near-flat at 72.6%. Cash, cash equivalents and restricted cash stood at RMB419.1 million (US$61.8 million) after a first-half net cash decrease of about RMB62 million, driven by RMB51.7 million of operating cash burn.
On the regulatory front, OncoScreen BCMatch Tissue Kit entered the CMDE Priority Review Channel, both CanCatch Custom Kit variants entered the Innovative Medical Devices Special Review Procedure, and the OncoCompass liquid biopsy kit was resubmitted and accepted for priority review — with CEO Yusheng Han saying new registration certificates are expected in coming quarters.