BeOne Medicines files STAR Market interim report, discloses R&D spend by product under US GAAP

BeOne Medicines Ltd. filed its 2026 Interim Report for the six months ended June 30, 2026 with the Science and Technology Innovation Board of the Shanghai Stock Exchange on August 26, 2026, prepared under PRC listing rules and securities laws.¹ The interim report itself is available only in Chinese on the Shanghai Stock Exchange website.¹

The filing does not disclose new clinical trial starts, readouts, or regulatory milestones. Instead, it presents accounting reconciliations and R&D expense allocations required under PRC securities law.

The company noted a key difference in share-based compensation accounting: under U.S. GAAP it uses a straight-line method for graded-vesting awards, while under PRC GAAP it applies an accelerated method.¹ The filing also detailed differences in interim income tax rate calculations and lease expense recognition between the two accounting standards.

On royalty transfers, the company is entitled to royalty revenue from collaborative drug sales, and in 2025 it transferred its royalty rights to an independent third party for a fixed upfront cash payment.¹ Under U.S. GAAP, that upfront payment is recorded as a liability, with royalty payments to the purchaser reducing the liability or accrued interest, while the company continues to recognize full royalty revenue when the counterparty sells the related product.¹

On R&D spending by product for the six months ended June 30, 2026 versus the same period in 2025, in thousands of U.S. dollars: BRUKINSA (zanubrutinib) spending was $42,703 versus $63,041; TEVIMBRA (tislelizumab) was $37,066 versus $40,316; BEQALZI TM (sonrotoclax) was $74,029 versus $94,012; Tacabrutideg was $44,306 versus $26,912; and BGB-43395 was $22,661 versus $9,858.¹ Total R&D expenses, combining internal and external spending, rose to $1,153,504 thousand from $1,006,783 thousand year over year.¹

No cash position or runway statement was included in this filing.