ONC on Nasdaq

BeOne Medicines Ltd.

In its 2026 annual report the company says: “We are a leading global oncology company discovering and developing innovative treatments that are more accessible to cancer patients worldwide. We are serial innovators in hematology and have built a differentiated, wholly-owned, and foundational franchise. We are the only company with potentially best-in-class assets across three foundational chronic lymphocytic leukemia mechanisms of action.”4

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Last updated Oct 21, 2026.

Overview

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  • TickerONC on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • Business addressC/O Beone Medicines I Gmbh, Aeschengraben 27, 21St Floor, Basel, 40512
  • Filer categoryLarge accelerated filer2

We are a leading global oncology company discovering and developing innovative treatments that are more accessible to cancer patients worldwide. In 2025, we generated total global revenue of approximately $5.3 billion, increasing revenue by approximately 40.2% from the prior year, while achieving net income of $286.9 million, net cash provided by operating activities of $1.1 billion and positive free cash flow of $941.7 million.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

87.5%Gross margin5
8.4%Operating margin5
5.4%Net margin5
40.2%Revenue growth, 20255
6.6%Return on equity5
0.22×Debt to equity5
$941.7MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 99% of the revenue BeOne Medicines Ltd. broke down this way in fiscal 2025.

  1. Product$5.3B599%up 40% from 2024
  2. Collaboration$61.0M51%up 99% from 2024
Products and services by year
Products and services202320242025
Product$2.2B$3.8B$5.3B
Collaboration$268.9M$30.7M$61.0M

Regions

United States brought in 54% of the revenue BeOne Medicines Ltd. broke down this way in fiscal 2025.

  1. United States$2.9B554%up 47% from 2024
  2. China$1.7B531%up 19% from 2024
  3. Europe$611.4M511%up 69% from 2024
  4. All Other Countries Except China, United States Of America, And Switzerland$171.8M53%up 118% from 2024
Regions by year
Regions202320242025
United States$1.1B$2.0B$2.9B
China$1.1B$1.4B$1.7B
Europe$202.0M$362.6M$611.4M
All Other Countries Except China, United States Of America, And Switzerland$26.6M$78.8M$171.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development40¢$2.1B
  • Selling, general and admin39¢$2.1B
  • Other costs13¢$698.8M
  • Income tax2¢$129.9M
  • Profit5¢$286.9M

Out of $5.3B in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending16¢$185.8M
  • Kept or used elsewhere84¢$941.7M

Out of $1.1B of cash from operations.5

Financial statements

Revenue67895$5.3B in 2025+1148% since 2019
0$2.0B$4.0B$6.0B2019: $428.2M$428.2M20192020: $308.9M$308.9M2020−28%2021: $1.2B$1.2B2021+281%2022: $1.4B$1.4B2022+20%2023: $2.5B$2.5B2023+74%2024: $3.8B$3.8B2024+55%2025: $5.3B$5.3B2025+40%
Gross profit895$4.7B in 2025+362% since 2021
0$2.0B$4.0B$6.0B2021: $1.0B$1.0B20212022: $1.1B$1.1B2022+12%2023: $2.1B$2.1B2023+84%2024: $3.2B$3.2B2024+55%2025: $4.7B$4.7B2025+45%
Operating income107895$447.1M in 2025
-$2.0B-$1.0B0$1.0B2019: -$959.9M-$959.9M20192020: -$1.7B-$1.7B2020+73%2021: -$1.4B-$1.4B2021−13%2022: -$1.8B-$1.8B2022+24%2023: -$1.2B-$1.2B2023−33%2024: -$568.2M-$568.2M2024−53%2025: $447.1M$447.1M2025
Net income107895$286.9M in 2025
-$3.0B-$2.0B-$1.0B0$1.0B2019: -$948.6M-$948.6M20192020: -$1.6B-$1.6B2020+71%2021: -$1.5B-$1.5B2021−10%2022: -$2.0B-$2.0B2022+37%2023: -$881.7M-$881.7M2023−56%2024: -$644.8M-$644.8M2024−27%2025: $286.9M$286.9M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Total revenues$5.3B$3.8B$2.5B
Gross profit$4.7B$3.2B$2.1B
Research and development$2.1B$2.0B$1.8B
Selling, general and administrative$2.1B$1.8B$1.5B
Total operating expenses$4.2B$3.8B$3.3B
Income (loss) from operations$447.1M-$568.2M-$1.2B
Interest income$70.5M$69.6M$78.4M
Interest expense-$58.2M-$21.8M-$4.4M
Other (expense) income, net-$42.6M-$12.6M$307.9M
Income (loss) before income taxes$416.9M-$533.0M-$825.8M
Income tax expense$129.9M$111.8M$55.9M
Net income (loss)$286.9M-$644.8M-$881.7M
Basic (in dollars per share)$0.20-$0.47-$0.65
Diluted (in dollars per share)$0.19-$0.47-$0.65
Weighted-average shares outstandingbasic (in shares)1.4B shares1.4B shares1.4B shares
Weighted-average shares outstanding diluted (in shares)1.5B shares1.4B shares1.4B shares
Basic (in dollars per share)$3-$6-$8
Diluted (in dollars per share)$3-$6-$8
Weighted-average ADSs outstanding, basic (in shares)109.1M shares105.3M shares104.4M shares
Weighted-average ADSs outstanding, diluted (in shares)113.4M shares105.3M shares104.4M shares

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Corporate structure

BeOne Medicines Ltd. sits at the top of its group. 51 entities, 35 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of BeOne Medicines Ltd.

  • BAKER BROS. ADVISORS LP Filed SCHEDULE 13D/A on BeOne Medicines Ltd., latest Sep 16, 2026 (6 filings since May 5, 2023)
  • Capital International Investors Filed SCHEDULE 13G/A on BeOne Medicines Ltd., latest May 14, 2026 (5 filings since Feb 11, 2022)
  • HHLR ADVISORS, LTD. Filed SCHEDULE 13D/A on BeOne Medicines Ltd., latest May 13, 2025 (5 filings since Aug 16, 2022)
  • John Oyler Filed SC 13G/A on BeOne Medicines Ltd., latest Feb 5, 2024 (3 filings since Feb 14, 2022)
  • Invesco Filed SC 13G/A on BeOne Medicines Ltd., latest Feb 10, 2023 (2 filings since Feb 11, 2022)
  • FMR LLC Filed SC 13G/A on BeOne Medicines Ltd., latest Feb 9, 2022
  • BeOne Medicines Ltd.
    • CYPHERPUNK TECHNOLOGIES INC. Stake · Cambridge, Massachusetts
    • BeiGene (Thailand) Ltd. Subsidiary · Thailand
    • BeiGene 101 Subsidiary · Cayman Islands
    • BeiGene Shanghai Subsidiary · Cayman Islands
    • BeiGene Shanghai 101 Subsidiary · Cayman Islands
    • BeiGene Turkey Medical Products Trade Limited Company Subsidiary · Turkey
    • BeOne Medicines (Canada) ULC Subsidiary · Canada
    • BeOne Medicines (Hong Kong) Co., Limited Subsidiary · Hong Kong
    • BeOne Medicines (Taiwan) Limited Subsidiary · Taiwan
    • BeOne Medicines Argentina S.R.L Subsidiary · Argentina
    • BeOne Medicines AUS PTY LTD Subsidiary · Australia
    • BeOne Medicines Austria GmbH Subsidiary · Austria
    • BeOne Medicines Belgium SRL Subsidiary · Belgium
    • BeOne Medicines Brasil Ltda. Subsidiary · Brazil
    • BeOne Medicines Chile Limitada Subsidiary · Chile
    • BeOne Medicines Colombia S.A.S. Subsidiary · Colombia
    • BeOne Medicines d.o.o. Beograd Subsidiary · Serbia
    • BeOne Medicines ESP, S.L.U. (Spain) Subsidiary · Spain
    • BeOne Medicines France Sarl Subsidiary · France
    • BeOne Medicines Germany GmbH Subsidiary · Germany
    • BeOne Medicines Global Business Services Sp. Z o.o. Subsidiary · Poland
    • BeOne Medicines Hopewell Urban Renewal, LLC Subsidiary · New Jersey, United States
    • BeOne Medicines I GmbH Subsidiary · Switzerland
    • BeOne Medicines International GmbH Subsidiary · Switzerland
    • BeOne Medicines Ireland Limited Subsidiary · Ireland
    • and 25 more

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What BeOne Medicines Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Construction in progress$127.2M5 Dec 31, 2025$654.0M5 Dec 31, 2024−80.6%
Property and equipment, before depreciation$2.0B5 Dec 31, 2025$1.3B5 Dec 31, 2024+54.4%
Accumulated depreciation$528.7M5 Dec 31, 2025$399.1M5 Dec 31, 2024+32.5%
Property and equipment, net$1.6B5 Dec 31, 2025$1.6B5 Dec 31, 2024+4.0%
Operating-lease assets (leased space)$148.2M5 Dec 31, 2025$139.3M5 Dec 31, 2024+6.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$4.5B5 Dec 31, 2025$2.6B5 Dec 31, 2024+73.1%
Stakes in other companies (equity method)$22.4M5 Dec 31, 2025$33.1M5 Dec 31, 2024−32.3%
Long-term investments$61.7M5 Dec 31, 2025$128.9M5 Dec 31, 2024−52.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$86.5M5 Dec 31, 2025$71.9M5 Dec 31, 2024+20.3%
Accumulated amortization$23.8M5 Dec 31, 2025$20.8M5 Dec 31, 2024+14.4%
Finite-lived intangibles, net$62.7M5 Dec 31, 2025$51.1M5 Dec 31, 2024+22.7%

Inventory

ItemLatestA year beforeChange
Inventory, total$608.2M5 Dec 31, 2025$495.0M5 Dec 31, 2024+22.9%
Raw materials$236.2M5 Dec 31, 2025$170.6M5 Dec 31, 2024+38.5%
Work in process$122.7M5 Dec 31, 2025$60.1M5 Dec 31, 2024+104.1%
Finished goods$249.4M5 Dec 31, 2025$264.3M5 Dec 31, 2024−5.6%

Properties, in its own words

We lease all of our facilities, excluding the following owned facilities: our offices and laboratories in Changping, Beijing; our manufacturing facility in Guangzhou, China; our manufacturing facility and CMC laboratories in the Industrial Park of Suzhou; our offices and laboratories in Zhangjiang, Shanghai; our innovation center on “Bio-Island” in Guangzhou; and our manufacturing facility and clinical R&D center at the Princeton Innovation Park in Hopewell, New Jersey. We lease a total of approximately 130,000 square meters of office space at around 51 other locations across the United States, Europe, China, the Middle East and North Africa (MENA), South Africa, and South America, in cities such as Cambridge, Massachusetts, and San Carlos, California in the United States; Beijing, Shanghai, Wuhan, and Chengdu in China; and Basel, Switzerland. These leased spaces are primarily used for our offices and the manufacturing facility in Suzhou, China, under leases with various expiration dates, the latest of which expires in 2031. We consider that our current facilities are suitable and sufficient to meet our requirements. We plan to add new facilities or expand existing ones as we recruit more employees and enter new regions. Moreover, we believe that appropriate additional or substitute space will be available as necessary to support the expansion of our operations.

Please refer to “Note 7: Leases” in the notes to our consolidated financial statements in this Annual Report for further information on our real property leases.

Item 2 of the 10-K filed Feb 26, 2026.4

Leadership

Who has led BeOne Medicines Ltd., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (27)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • BG NC 1, Ltd. Cayman Islands3
  • BG NC 2, Ltd. Cayman Islands3
  • BeOne Medicines (Canada) ULC Canada3
  • BeOne Medicines (Hong Kong) Co., Limited Hong Kong3
  • BeOne Medicines (Taiwan) Limited Taiwan3
  • BeOne Medicines AUS PTY LTD Australia3
  • BeOne Medicines Argentina S.R.L Argentina3
  • BeOne Medicines Austria GmbH Austria3
  • BeOne Medicines Belgium SRL Belgium3
  • BeOne Medicines Brasil Ltda. Brazil3
  • BeOne Medicines Chile Limitada Chile3
  • BeOne Medicines Colombia S.A.S. Colombia3
  • BeOne Medicines ESP, S.L.U. (Spain) Spain3
  • BeOne Medicines France Sarl France3
  • BeOne Medicines Germany GmbH Germany3
  • BeOne Medicines Global Business Services Sp. Z o.o. Poland3
  • BeOne Medicines Hopewell Urban Renewal, LLC New Jersey, United States3
  • BeOne Medicines I GmbH Switzerland3
  • BeOne Medicines International GmbH Switzerland3
  • BeOne Medicines Ireland Limited Republic of Ireland3
  • BeOne Medicines Israel Ltd. Israel3
  • BeOne Medicines Italy S.r.l. Italy3
  • BeOne Medicines Japan Japan3
  • BeOne Medicines Korea Y.H. South Korea3
All 49 listed subsidiaries
  • BeOne Medicines Malaysia Sdn Bhd. Malaysia3
  • BeOne Medicines Mexico S. de R.L. de C.V. Mexico3
  • BeOne Medicines NZ Unlimited New Zealand3
  • BeOne Medicines Netherlands B.V. Netherlands3
  • BeOne Medicines Peru (Sociedad Comercial de Responsabilidad Limitada - S.R.L) Peru3
  • BeOne Medicines Pharmaceuticals GmbH Switzerland3
  • BeOne Medicines Poland sp. z o.o. Poland3
  • BeOne Medicines Portugal, Unipessoal Lda Portugal3
  • BeOne Medicines Shanghai Asset Limited Hong Kong3
  • BeOne Medicines Singapore Pte. Ltd Singapore3
  • BeOne Medicines South Africa (PTY) Ltd. South Africa3
  • BeOne Medicines Sweden AB Sweden3
  • BeOne Medicines Treasury Ltd. Cayman Islands3
  • BeOne Medicines UK, Ltd. United Kingdom3
  • BeOne Medicines US Holdings, LLC Delaware, United States3
  • BeOne Medicines US Manufacturing Co., Inc. Delaware, United States3
  • BeOne Medicines USA, Inc. Delaware, United States3
  • BeOne Medicines United Kingdom, Ltd. United Kingdom3
  • BeOne Medicines d.o.o. Beograd Serbia3
  • BeiGene (Thailand) Ltd. Thailand3
  • BeiGene 101 Cayman Islands3
  • BeiGene Shanghai Cayman Islands3
  • BeiGene Shanghai 101 Cayman Islands3
  • BeiGene Turkey Medical Products Trade Limited Company Turkey3
  • Newco 101 Cayman Islands3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • BeiGene, Ltd.Aug 28, 2015 to May 27, 20252

Timeline

  1. Aug 26, 20268-K Results of operations41
  2. Aug 5, 20268-K Results of operations42
  3. Jun 26, 20268-K Other events43
  4. Jun 11, 20268-K Executive or director change; Shareholder vote44
  5. May 15, 20268-K Other events45
  6. May 6, 20268-K Results of operations46
  7. Apr 14, 20268-K Results of operations47
  8. Feb 26, 20268-K Results of operations48
  9. Dec 19, 20258-K Ended a material agreement49
  10. Dec 18, 20258-K Executive or director change50
  11. Nov 19, 20258-K Entered a material agreement; New debt or obligation51
  12. Nov 6, 20258-K Results of operations52
  13. Feb 2, 2016New chief executive John Oyler becomes CEO13

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $1.09 a share, on Nov 6, 2025.53

When it reported results

  1. Aug 26, 2026Reported quarterly or annual results41
  2. Aug 5, 2026Reported quarterly or annual results42
  3. May 6, 2026Reported quarterly or annual results46
  4. Apr 14, 2026Reported quarterly or annual results47
  5. Feb 26, 2026Reported quarterly or annual results48
  6. Nov 6, 2025Reported quarterly or annual results52
  7. Aug 29, 2025Reported quarterly or annual results54
  8. Aug 6, 2025Reported quarterly or annual results55

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

637 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 103 major events, 269 insider forms, 23 large holders, 220 other. The latest 20:

  1. Oct 15, 20264 EDGAR
  2. Oct 2, 20264 EDGAR
  3. Sep 30, 2026144 EDGAR
  4. Sep 30, 20264 EDGAR
  5. Sep 16, 20264 EDGAR
  6. Sep 16, 2026SCHEDULE 13D/A EDGAR
  7. Sep 10, 20264 EDGAR
  8. Sep 8, 2026144 EDGAR
  9. Sep 3, 20264 EDGAR
  10. Sep 1, 2026144 EDGAR
  11. Aug 27, 20264 EDGAR
  12. Aug 26, 20268-K EDGAR
  13. Aug 25, 2026144 EDGAR
  14. Aug 25, 2026144 EDGAR
  15. Aug 13, 20264 EDGAR
  16. Aug 12, 20264 EDGAR
  17. Aug 11, 2026144 EDGAR
  18. Aug 10, 2026144 EDGAR
  19. Aug 5, 20264 EDGAR
  20. Aug 5, 202610-Q EDGAR

The 637 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

194 open-market trades by officers, directors and large owners since October 2021: 0 buys and 194 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 28, 2026Wang XiaodongDirectorSale31,028$364.79$11.3MForm 4
Sep 8, 2026Wang XiaodongDirectorSale38,287$349.10$13.4MForm 4
Sep 1, 2026Ball Titus B.Principal Accounting OfficerSale132$355.86$47.0KForm 4
Aug 25, 2026Wu XiaobinPresident and COOSale280$380.00$106.4KForm 4
Aug 12, 2026OYLER JOHNChief Executive OfficerSale54,892$358.15$19.7MForm 4
Aug 11, 2026Lee Chan HenrySVP, General CounselSale2,666$360.00$959.8KForm 4
Aug 11, 2026OYLER JOHNChief Executive OfficerSale70,907$361.90$25.7MForm 4
Aug 10, 2026OYLER JOHNChief Executive OfficerSale115,011$357.88$41.2MForm 4
Aug 3, 2026Rosenberg AaronChief Financial OfficerSale1,157$312.72$361.8KForm 4
Jul 30, 2026Lee Chan HenrySVP, General CounselSale1,044$323.69$337.9KForm 4
Jul 22, 2026Lee Chan HenrySVP, General CounselSale1,669$325.00$542.4KForm 4
Jul 21, 2026OYLER JOHNChief Executive OfficerSale61,397$317.67$19.5MForm 4
Jul 20, 2026OYLER JOHNChief Executive OfficerSale48,316$312.26$15.1MForm 4
Jul 17, 2026OYLER JOHNChief Executive OfficerSale64,628$312.00$20.2MForm 4
Jul 16, 2026OYLER JOHNChief Executive OfficerSale166,597$318.09$53.0MForm 4
Jul 15, 2026OYLER JOHNChief Executive OfficerSale116,557$311.94$36.4MForm 4
Jul 14, 2026OYLER JOHNChief Executive OfficerSale145,861$305.95$44.6MForm 4
Jul 13, 2026OYLER JOHNChief Executive OfficerSale48,520$304.35$14.8MForm 4
Jul 10, 2026OYLER JOHNChief Executive OfficerSale11,698$298.34$3.5MForm 4
Jul 8, 2026Lee Chan HenrySVP, General CounselSale664$302.46$200.8KForm 4

All 194 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

BeOne Medicines Ltd. has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Baker Bros. Advisors LP8,801,567$2.5B12.6%+2,514
Primecap Management Co/ca/5,007,931$1.4B0.8%+32,750
Capital International Investors4,210,221$1.2B0.2%+51,495
Fmr LLC2,478,527$706.3M0.0%−1,215,083
Capital World Investors2,249,582$641.1M0.1%+626,895
Citadel Advisors LLC1,425,517$406.2M0.2%+393,219
Temasek Holdings (Private) Ltd845,729$241.0M0.7%−16,914
BlackRock, Inc.694,618$197.9M0.0%+37,117
Millennium Management LLC543,323$154.8M0.1%+338,477
Morgan Stanley497,437$141.8M0.0%+32,965
Siren, L.L.C.465,000$132.5M2.7%No change
Bank Of America Corp /de/439,336$125.2M0.0%+34,063
Baird Financial Group, Inc.368,978$105.1M0.1%+19,327
Man Group plc307,463$87.6M0.2%+65,541
Capital International, Inc./CA/305,477$87.1M0.6%+3,234
Candriam S.C.A.289,735$82.5M0.4%+30,004
Two Sigma Investments, LP286,552$81.7M0.1%+253,009
UBS Group AG258,589$73.7M0.0%−156,741
Arrowstreet Capital, Limited Partnership249,758$71.2M0.0%+139,172
First Trust Advisors LP245,823$70.1M0.0%+4,397
M&g PLC223,445$63.7M0.3%+85,282
Nuveen, LLC201,062$57.3M0.0%+4,633
Jpmorgan Chase & Co188,405$54.6M0.0%+110,867
Bnp Paribas Financial Markets185,544$52.9M0.0%+1,188
Marshall Wace, Llp177,987$50.7M0.0%+5,344

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How BeOne Medicines Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBeOne Medicines Ltd.1
  • CIK0001651308
  • Employer ID (EIN)98-12094164
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inSwitzerland4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business addressC/O Beone Medicines I Gmbh, Aeschengraben 27, 21St Floor, Basel, 4051, Switzerland1
  • Phone41-6168519001
  • Shares outstanding1,478,124,405 as of Jul 31, 202612
  • Public float$14.7B as of Jun 30, 20254
  • AuditorErnst & Young LLP, Boston, Massachusetts PCAOB ID 42; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceAug 28, 20151
  • Filings1,270 in all: 4 (529), 8-K (283), 144 (140), 3 (40), 10-Q (32), CORRESP (28), UPLOAD (23), SC 13D/A (20)1
    All 51 form types

    SC 13G/A (20), DEF 14A (13), 10-K (11), PRE 14A (11), S-8 (10), S-8 POS (9), 424B5 (8), S-3ASR (8), SC 13G (8), EFFECT (6), S-1/A (6), SCHEDULE 13D/A (6), DEFA14A (5), ARS (4), CT ORDER (4), SC 13D (4), 4/A (3), POSASR (3), 10-K/A (2), 3/A (2), 424B4 (2), 424B7 (2), 5 (2), F-6 (2), FWP (2), S-1 (2), S-1MEF (2), S-4/A (2), SCHEDULE 13G/A (2), 144/A (1), 424B2 (1), 424B3 (1), 8-A12B (1), 8-K/A (1), 8-K12G3 (1), CERTNAS (1), DRS (1), DRS/A (1), F-6 POS (1), F-6/A (1), POS AM (1), PRER14A (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 28, 2026
    Latest 8-K (8-K) Aug 26, 2026

Securities registered for trading

ClassSymbolExchange
American Depositary Shares, each representing 13 Ordinary Shares, par value $0.0001 per shareONCThe Nasdaq Global Select Market

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks BeOne Medicines Ltd. names in Item 1A of its 10-K filed Feb 26, 2026: 73 risks under these headings, as written.4

  • Risks Related to Clinical Development and Commercialization of Our Medicines and Drug Candidates
  • Our medicines may fail to achieve and maintain the degree of market acceptance by physicians, patients, third-party payors, and others in the medical community necessary for commercial success.
  • We have limited experience in launching and marketing our internally developed and in-licensed medicines. If we are unable to further develop marketing and sales capabilities or enter into agreements with third parties to market and sell our medicines, we may not be able to generate substantial product sales revenue.
  • We face substantial competition, which may result in others discovering, developing, or commercializing competing medicines before or more successfully than we do.
  • The market opportunities for our future medicines may be limited to those patients who are ineligible for or have failed prior treatments and may be small.
  • If we or any third parties with which we may collaborate to market and sell our medicines are unable to achieve and maintain coverage and adequate levels of reimbursement or are subject to unfavorable pricing regulations, our commercial success and business operations could be adversely affected.
  • We have operations in the U.S., China, Europe, and other markets and plan to expand in these and new markets on our own or with collaborators, which exposes us to risks of conducting business in international markets.
  • The illegal distribution and sale by third parties of counterfeit versions of our medicines or stolen products could have a negative impact on our reputation and business.
  • Clinical development involves a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results.
  • If clinical trials of our drug candidates fail to demonstrate safety and efficacy to the satisfaction of regulatory authorities or do not otherwise produce positive results, we may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development and commercialization of our drug candidates.
  • If we encounter difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • Risks Related to Regulatory Approval and Extensive Government Regulation
The other 62 risks
  • All material aspects of the research, development, manufacturing and commercialization of pharmaceutical products are heavily regulated, and we may face difficulties in complying with or be unable to comply with such regulations, which could have a material adverse effect on our business.
  • We may be subject to anti-kickback, false claims laws, physician payment transparency laws, fraud and abuse laws or similar healthcare and security laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm and diminished sales.
  • If we fail to comply with our reporting and payment obligations under the Medicaid Drug Rebate Program or other governmental pricing programs, we could be subject to additional reimbursement requirements, penalties, sanctions and fines, which could have a material adverse effect on our business, financial condition, results of operations and growth prospects.
  • Federal legislative and regulatory efforts to implement reference pricing or most-favored-nation pricing models could impact our product revenues and materially harm our business.
  • The approval processes of regulatory authorities in the U.S., China, Europe and other comparable regulatory authorities are lengthy, time consuming, costly, and inherently unpredictable. If we experience delays or are ultimately unable to obtain regulatory approval for our drug candidates, our business will be substantially harmed.
  • We are currently conducting and may in the future conduct clinical trials for our drug candidates outside the U.S., and the FDA and comparable foreign regulatory authorities may not accept data from such trials.
  • Our medicines and any future approved drug candidates will be subject to ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense, and we may be subject to penalties if we fail to comply with regulatory requirements or experience unanticipated problems with our medicines and drug candidates.
  • Undesirable adverse events caused by our medicines and drug candidates could interrupt, delay or halt clinical trials, delay or prevent regulatory approval, limit the commercial profile of an approved label, or result in significant negative consequences following any regulatory approval.
  • If safety, efficacy, or other issues arise with any medical product that is used in combination with our medicines, we may be unable to market such medicine or may experience significant regulatory delays or supply shortages, and our business could be materially harmed.
  • Recently enacted and future legislation and regulations may increase the difficulty and cost for us to obtain regulatory approval of and commercialize our medicines and drug candidates and affect the prices we may obtain.
  • Risks Related to Our Financial Position and Need for Additional Capital
  • We have historically incurred significant net losses and may incur net losses in the future.
  • We may need to obtain additional financing to fund our operations, and if we are unable to obtain such financing, we may be unable to complete the development of our drug candidates or achieve profitability.
  • Raising additional capital may cause dilution to our shareholders, restrict our operations or require us to relinquish rights to our technologies or drug candidates.
  • Fluctuations in exchange rates could result in foreign currency exchange losses and could materially reduce the value of your investment.
  • Our business, profitability and liquidity may be adversely affected by deterioration in the credit quality of, or defaults by, our distributors and customers or by actual events or concerns involving the liquidity, default, or non-performance of financial institutions, including the U.S. government, and an impairment in the carrying value of any short-term investments could negatively affect our consolidated results of operations.
  • Failure to meet responsible business and sustainability expectations or standards or achieve our corporate strategy goals could adversely affect our business, results of operations, financial condition or stock price.
  • Risks Related to Our Intellectual Property
  • If we are unable to obtain and maintain patent protection for our medicines and drug candidates, we may lose market exclusivities in our medicines.
  • We have been and may further become involved in lawsuits to protect or enforce our intellectual property, which could be expensive, time consuming and unsuccessful. Our patent rights relating to our medicines and drug candidates could be found invalid, unenforceable or not infringed by a court or government patent authorities.
  • Lawsuits alleging infringing of intellectual property rights of third parties could be costly and time consuming and could prevent or delay us from developing or commercializing our medicines or drug candidates.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed. We may also be subject to claims that our employees have wrongfully used or disclosed alleged trade secrets of others.
  • Risks Related to Our Reliance on Third Parties
  • We rely on third parties to manufacture some of our commercial and clinical drug supplies. Our business could be harmed if those third parties fail to comply with manufacturing regulations, provide us with insufficient quantities of product or provide product at unacceptable quality levels or prices.
  • We have entered into licensing and collaboration arrangements and may enter into additional collaborations, licensing arrangements, or strategic alliances in the future, and we may not realize the benefits of such arrangements.
  • If we fail to maintain an effective distribution channel for our medicines, our business and sales could be adversely affected.
  • If we are not able to successfully develop and/or commercialize Amgen’s oncology products, the expected benefits of the collaboration will not materialize.
  • We may rely on third parties to conduct our preclinical studies and clinical trials. If these third parties do not successfully carry out their contractual duties or meet expected deadlines, we may not be able to obtain regulatory approval for or commercialize our medicines and drug candidates and our business could be substantially harmed.
  • Risks Related to Our Industry, Business and Operations
  • We have significantly increased and expect to continue to increase our research, development, manufacturing, and commercial capabilities, and we may experience difficulties in managing our growth.
  • Our future success depends on our ability to retain key executives and to attract, retain and motivate qualified personnel.
  • We manufacture some of our medicines and intend to manufacture some of our drug candidates, if approved. Failure to comply with regulatory requirements could result in sanctions being imposed against us and delays in receiving regulatory approvals for our manufacturing facilities, or damage to, destruction of or interruption of production at such facilities, could delay our development plans or commercialization efforts.
  • We incur significant costs as a result of operating as a public company, and our management is required to devote substantial time to compliance requirements, including establishing and maintaining internal controls over financial reporting. We may be exposed to potential risks if we are unable to comply with these requirements.
  • If we engage in acquisitions or strategic collaborations, this may increase our capital requirements, dilute our shareholders, cause us to incur debt or assume contingent liabilities, and subject us to other risks.
  • If we fail to comply with the U.S. Foreign Corrupt Practices Act or other anti-bribery and corruption laws, our reputation may be harmed and we could be subject to penalties and significant expenses that have a material adverse effect on our business, financial condition and results of operations.
  • If we or our CROs or contract manufacturing organizations (“CMOs”) fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on our business.
  • Our information technology systems, or those used by our contractors or collaborators, may fail or suffer security breaches, which could result in a material disruption of our product development and commercialization efforts.
  • The increasing use of artificial intelligence-based software (including machine learning) and social media platforms may result in reputational harm or liability or could otherwise adversely affect our business.
  • Our failure to comply with privacy and data protection laws and regulations could lead to government enforcement actions and significant penalties against us, and adversely impact our operating results.
  • Compliance with the Data Security Law of the People’s Republic of China (the “Data Security Law”), Cybersecurity Review Measures, Personal Information Protection Law of the People’s Republic of China (the “PIPL”), regulations and guidelines relating to the multi-level protection scheme (the “MLPS”) and any other future laws and regulations may entail significant expenses and could materially affect our business.
  • If we or the parties on whom we rely fail to maintain the necessary licenses for the development, manufacture, sale and distribution of our products, our ability to conduct our business could be materially impaired.
  • Our financial and operating performance may be adversely affected by government shutdowns, public health crises, natural catastrophes, or other business interruptions outside of our control.
  • Climate change manifesting as physical or transition risks, included related environmental regulation, could have a material adverse impact on our business operations, clients and customers.
  • Product liability claims or lawsuits could cause us to incur substantial liabilities.
  • We are subject to the risks and challenges of doing business globally, which may adversely affect our business operations.
  • Future operating results could be negatively affected by changes in tax rates, the adoption of new tax legislation in the jurisdictions in which we operate, or exposure to additional tax liabilities.
  • Restrictive covenants in our facilities agreements may limit our ability to respond to changes in market conditions or pursue business opportunities.
  • We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under applicable debt instruments, which may not be successful.
  • Risks Related to Our Doing Business in the PRC
  • Changes in the political and economic policies of the PRC government or in relations between China and the U.S. or other governments and the significant oversight and discretion the PRC government has over the conduct of the business operations of our PRC subsidiaries may materially and adversely affect our business, financial condition, and results of operations and may result in our inability to sustain our growth and expansion strategies.
  • The PRC government may intervene or influence our operations at any time, and has the ability to exert significant oversight and control over any offering of securities conducted overseas and/or foreign investment in China-based issuers, which could result in a material change in our operations and limit or completely hinder our ability to offer or continue to offer securities to investors, and may cause the value of such securities to significantly decline or be worthless.
  • Historically, there has been legislation implemented which put our ADSs at risk of potential delisting. The delisting of our ADSs, or the threat of their being delisted, may materially and adversely affect the value of your investment.
  • There are uncertainties regarding the interpretation and enforcement of Chinese laws, rules and regulations, and rules and regulations in China can change quickly with little advance notice.
  • Filing or other procedures with the CSRC or other Chinese regulatory authorities may be required in connection with issuing our equity securities to foreign investors under Chinese law, and, if required, we cannot predict whether we will be able, or how long it will take us, to complete such filing or other procedures. If we fail to complete a filing with the CSRC, our future offering application may be impacted and we may be subject to penalties, sanctions and fines imposed by the CSRC and relevant departments of the State Council.
  • PRC regulations establish complex procedures for some acquisitions conducted by foreign investors, which could make it more difficult for us to pursue growth through acquisitions in China.
  • We may rely on dividends and other distributions on equity paid by our PRC subsidiaries to fund any cash and financing requirements we may have, and any limitation on the ability of our PRC subsidiaries to make payments to us could have a material and adverse effect on our ability to conduct our business.
  • We may be treated as a resident enterprise for PRC tax purposes under the EIT Law and we may therefore be subject to PRC income tax on our worldwide taxable income. Dividends payable to foreign investors and gains on the sale of our ADSs or ordinary shares by our foreign investors may become subject to PRC tax.
  • We and our shareholders face uncertainties with respect to indirect transfers of equity interests in PRC resident enterprises or other assets attributed to a PRC establishment of a non-PRC company, or other assets attributable to a PRC establishment of a non-PRC company.
  • Regulations on currency exchange may limit our ability to utilize our revenue effectively.
  • Our business benefits from certain financial incentives and discretionary policies granted by local governments. Expiration of, or changes to, these incentives or policies would have an adverse effect on our results of operations.
  • Any failure to comply with PRC regulations regarding our employee equity plans and investments in offshore companies by PRC residents may subject the PRC plan participants and PRC-resident beneficial owners or us to fines and other legal or administrative sanctions.
  • The pharmaceutical industry in China is highly regulated, and such regulations are subject to change, which may affect approval and commercialization of our medicines and drug candidates.
  • Risks Related to Our Ordinary Shares, ADSs, and RMB Shares
  • The trading prices of our ordinary shares, ADSs, and/or RMB Shares can be volatile, which could result in substantial losses to you.
  • The characteristics of capital markets in the U.S., Hong Kong and Shanghai are different, which may cause volatility in the market price of our ordinary shares, ADSs, and RMB Shares.
  • We may be subject to securities litigation, which is expensive and could divert management attention.
  • Future sales of our ordinary shares, ADSs, and/or RMB Shares in the public market could cause the ordinary share, ADS, and/or RMB Share price to fall.
  • The triple listing of our ADSs, ordinary shares and RMB Shares may adversely affect the liquidity and value of our ADSs, ordinary shares and/or RMB Shares and lead to increased compliance obligations and costs.

Legal proceedings

From time to time, we may become involved in legal proceedings or be subject to claims of a nature considered ordinary course in our business, including the intellectual property litigation described herein. Most of the issues raised by such claims are highly complex and subject to substantial uncertainties. For a description of risks relating to these legal proceedings, see “Part I—Item 1A—Risk Factors” of this Annual Report, including the discussion under the headings entitled “Risks Related to Our Intellectual Property.” The outcome of any such proceedings, regardless of the merits, is inherently uncertain; therefore, assessing the likelihood of loss and any estimated damages is difficult and subject to considerable judgment. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

AbbVie Litigation

On September 6, 2024, AbbVie Inc. filed a complaint in the U.S. District Court for the Northern District of Illinois against the Company, one of its wholly-owned subsidiaries and an individual scientist, alleging misappropriation of trade secrets concerning the Company’s Bruton’s tyrosine kinase (“BTK”) degrader program, including the lead compound, BGB-16673. The complaint seeks an unspecified amount of monetary damages, declaratory judgment, restitution and other equitable remedies. The Company is vigorously defending against the claims and filed a motion to dismiss the complaint in its entirety on December 19, 2024.

ANDA Litigation

The opening of Item 3, Legal Proceedings.4

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