(Yicai) Aug. 8 -- Shares in BeiGene surged today after the Chinese biopharmaceutical company’s net loss nearly halved in the first six months from a year earlier on strong sales of its cancer drugs.

BeiGene’s share price [HKG:6160] closed up 4.8 percent in Hong Kong at HKD108.40 (USD14), and its Shanghai-traded stock [SHA:688235] finished the day up 2.4 percent at CNY140.88 (USD20) apiece.

BeiGene’s net loss contracted 44.9 percent in the six months ended June 30 year on year to CNY2.8 billion (USD402 million), according to the Beijing-based firm’s latest financial report that was released yesterday. Revenue surged 64 percent to CNY12 billion (USD1.6 billion).

When excluding non-cash items such as share-based payments, depreciation and amortized expense, the company turned a profit in the second quarter.

Revenue from drug sales soared 77.8 percent over the period to CNY11.9 billion, driven by robust sales of its self-developed tumor drugs Zanubrutinib and Tislelizumab.

Zanubrutinib, which was the first Chinese cancer drug to get the greenlight abroad, is its biggest earner. In the first half, sales of Zanubrutinib capsules more than doubled year on year to CNY8 billion (USD1.1 billion). And last year, sales soared past the benchmark of USD1 billion, reaching USD1.3 billion.

Nearly 90 percent of Zanubrutinib’s revenue now comes from abroad. The drug received its first overseas approval from the US Food and Drug Administration in 2019. Now it is available in more than 70 markets, including the US, the UK, Canada, Australia and Switzerland.

Sales of the Tislelizumab injection, which is used to treat lung and liver cancers, jumped 19.4 percent in the first half year on year to CNY2.1 billion (USD293 million). It has also been approved to go to market in some overseas countries since September 2023.

Editor: Kim Taylor