GUANGZHOU, China, June 9, 2026—Burning Rock Biotech Limited (NASDAQ: BNR, the “Company” or “Burning Rock”) today reported unaudited financial results for the three months ended March 31, 2026.
In the first quarter of 2026, the Company recorded total revenue of RMB107.9 million (US$15.6 million). As of March 31, 2026, the Company’s cash, cash equivalents and restricted cash were RMB448.7 million (US$65.1 million). Sufficient capital reserves provide solid support for product registration, clinical research and development, as well as market expansion.
I. Notable Progress in Compliance Development and Growing In-Hospital Testing Business
Driven by policies and industrial advancement, the next-generation sequencing (NGS) industry for oncology is undergoing a comprehensive compliance transformation. Upholding a compliance-oriented development strategy, the Company is dedicated to deploying standardized testing technologies in clinical settings. To date, the Company has supported 94 hospitals in establishing in-house NGS testing platforms, improving the accessibility of high-precision oncology diagnostics.
✅ In the first quarter of 2026, the Company generated total revenue of RMB107.9 million (US$15.6 million). Revenue generated from central laboratory business was RMB32.3 million (US$4.7 million), while revenue generated from in-hospital business was RMB52.8 million (US$7.6 million), representing a 3.4% quarter-on-quarter increase. The steady growth of in-hospital sales reflects sustained strong clinical demand.
In the first quarter of 2026, the Company continued to advance its transition to in-hospital testing and build a solid foundation for compliance-driven development. The revenue share of in-hospital testing increased from 43% in the first quarter of 2025 to 49% in the first quarter of 2026.
✅ In January 2026, OncoScreen® BCMatch Tissue Kit officially entered the Priority Review Channel of the Center for Medical Device Evaluation (CMDE) under the NMPA. It is the first NGS-CDx kit for breast cancer in China to enter the CMDE priority review.
As a tangible outcome of the Company’s "One Kit, Global Partnership" global strategy, the kit’s Capivasertib CDx module was approved by Japan’s MHLW in September 2025 and covered by Japan’s national health insurance. Once launched in China, it is poised to expand rapidly in the breast cancer in-hospital CDx market and fuel the Company’s steady growth.
II. Expanding Collaborations with Pharmaceutical Partners and Enriching Project Pipeline
Equipped with laboratories certified by both CLIA and CAP in China and the US, robust patent portfolios, a comprehensive product lineup and extensive project experience, Burning Rock has become a preferred partner for over 150 innovative pharmaceutical enterprises worldwide. The Company currently advances more than 15 ongoing diagnostic projects, with approved products covering major markets including China, the US, Europe and Japan.
✅ Revenue generated from pharma research and development services was RMB22.8 million (US$3.3 million) for the three months ended March 31, 2026.
✅ At the 2026 AACR, two pivotal clinical studies on Elisrasib (D3S-001), a next-generation KRAS G12C inhibitor developed by D3 Bio, were presented as oral presentations. Among them, the non-small cell lung cancer (NSCLC) study was selected for the plenary oral session. CanCatch® provided high-sensitivity ctDNA testing services for both studies, supporting dynamic efficacy monitoring and in-depth analysis of drug resistance mechanisms.
✅ During the first quarter of 2026, the Company passed 20 external quality assessments (EQA) programs. To date, the Company has completed 331 EQA programs organized by leading domestic and international institutions. Our ongoing high testing quality keeps results accurate and reports consistent at global leading standards, laying a solid quality foundation for future cooperation projects.
III. Innovative Diagnostic Platforms Empower Full-Cycle Precision Oncology Care
Focused on full-cycle precision oncology, the Company has built a diverse portfolio of innovative platforms based on self-developed technologies, covering cancer early detection, molecular subtyping, targeted therapy guidance and post-treatment recurrence monitoring.
✅ From January to April 2026, the Company presented five poster abstracts at two top-tier global oncology conferences — the 2026 ASCO-GI and the 2026 AACR. The presentations fully demonstrated the clinical performance and applications of four core liquid biopsy platforms: MMcall, CanCatch Surf, 25-plex ddPCR and SPIRAL, highlighting the Company’s leading strengths in liquid biopsy and multi-omics research.
✅ In April 2026, a joint study conducted by the team led by Professor Haiquan Chen, Professor Hong Hu and Professor Yang Zhang from Fudan University Shanghai Cancer Center and Burning Rock was published at Journal for ImmunoTherapy of Cancer (IF=10.6). This single-center, single-arm Phase II exploratory study (NCT05775796) verified that short-course chemoimmunotherapy for resectable squamous cell lung cancer can achieve robust tumor shrinkage while ensuring surgical feasibility and safety. It also validated the great potential of ctDNA-MRD in evaluating perioperative treatment response and stratifying disease risks, offering new insights for optimizing perioperative treatment regimens for squamous cell lung cancer.
IV. Improved Operational Efficiency and Sound Cash Flow Position
✅ In the first quarter of 2026, operating expenses were RMB96.9 million (US$14.1 million), representing a 14.0% year-over-year decrease and a 12.4% quarter-on-quarter decrease. Selling and marketing expenses were RMB41.2 million (US$6.0 million), representing a 6.5% quarter-on-quarter decrease. General and administrative expenses were RMB28.1 million (US$4.1 million), representing a 10.3% year-over-year decrease and a 11.3% quarter-on-quarter decrease.
✅ As of March 31, 2026, the Company’s cash, cash equivalents and restricted cash were RMB448.7 million (US$65.1 million). Ample cash flow will strongly support kit registration applications, cutting-edge technological R&D and global market expansion, enabling the Company to fully capture opportunities arising from the industry’s compliance transformation.
