10-Q Filing

BEONE MEDICINES LTD. CIK: 1651308 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-004503`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	bgne-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 31 Cash Flow Statement 71 Comprehensive Income 11

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Ordinary shares, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Ordinary shares, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Ordinary shares, shares authorized	`CommonStockSharesAuthorized`	9.50B	shares	Point-in-time
Ordinary shares, shares authorized	`CommonStockSharesAuthorized`	9.50B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$97.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$490.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$239.60M	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$17.46M	USD	Point-in-time
Ordinary shares, shares issued	`CommonStockSharesIssued`	592.07M	shares	Point-in-time
Ordinary shares, shares issued	`CommonStockSharesIssued`	698.94M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$597.91M	USD	Point-in-time
Ordinary shares, shares outstanding	`CommonStockSharesOutstanding`	698.94M	shares	Point-in-time
Ordinary shares, shares outstanding	`CommonStockSharesOutstanding`	592.07M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$973.38M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$29.43M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$23.48M	USD	Point-in-time
Unbilled receivable	`UnbilledReceivablesCurrent`	$16.31M	USD	Point-in-time
Unbilled receivable	`UnbilledReceivablesCurrent`	$23.86M	USD	Point-in-time
Inventories	`InventoryNet`	$10.93M	USD	Point-in-time
Inventories	`InventoryNet`	$7.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$49.38M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$35.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.59B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$913.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$76.99M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$62.57M	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$12.86M	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$12.46M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$7.06M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$7.25M	USD	Point-in-time
Goodwill	`Goodwill`	$109.00K	USD	Point-in-time
Goodwill	`Goodwill`	$109.00K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$11.99M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$7.67M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$42.91M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$14.21M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$132.98M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$123.22M	USD	Point-in-time
Total assets	`Assets`	$1.05B	USD	Point-in-time
Total assets	`Assets`	$1.71B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$69.78M	USD	Point-in-time
Accrued expenses and other payables	`AccruedLiabilitiesAccountsPayableOtherAndOtherLiabilitiesCurrent`	$49.60M	USD	Point-in-time
Accrued expenses and other payables	`AccruedLiabilitiesAccountsPayableOtherAndOtherLiabilitiesCurrent`	$55.71M	USD	Point-in-time
Deferred revenue, current portion	`ContractWithCustomerLiabilityCurrent`	$14.01M	USD	Point-in-time
Deferred revenue, current portion	`ContractWithCustomerLiabilityCurrent`	$12.23M	USD	Point-in-time
Tax payable	`TaxesPayableCurrent`	$9.89M	USD	Point-in-time
Tax payable	`TaxesPayableCurrent`	$9.16M	USD	Point-in-time
Current portion of long-term bank loan	`LongTermDebtCurrent`	$9.56M	USD	Point-in-time
Current portion of long-term bank loan	`LongTermDebtCurrent`	$9.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$141.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$149.99M	USD	Point-in-time
Long-term bank loan	`LongTermDebtNoncurrent`	$9.56M	USD	Point-in-time
Long-term bank loan	`LongTermDebtNoncurrent`	$9.22M	USD	Point-in-time
Shareholder loan	`DueToRelatedPartiesNoncurrent`	$154.55M	USD	Point-in-time
Shareholder loan	`DueToRelatedPartiesNoncurrent`	$146.27M	USD	Point-in-time
Deferred revenue, non-current portion	`ContractWithCustomerLiabilityNoncurrent`	$24.81M	USD	Point-in-time
Deferred revenue, non-current portion	`ContractWithCustomerLiabilityNoncurrent`	$21.29M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$22.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$31.96M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$212.26M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$208.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$362.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$350.20M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Ordinary shares (par value of US$0.0001 per share; 9,500,000,000 shares authorized; 698,942,730 shares issued and outstanding as of March 31, 2018 (December 31, 2017: 592,072,330 shares))	`CommonStockValue`	$70.00K	USD	Point-in-time
Ordinary shares (par value of US$0.0001 per share; 9,500,000,000 shares authorized; 698,942,730 shares issued and outstanding as of March 31, 2018 (December 31, 2017: 592,072,330 shares))	`CommonStockValue`	$59.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.78B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.00B	USD	Point-in-time
Accumulated other comprehensive income /(loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$320.00K	USD	Point-in-time
Accumulated other comprehensive income /(loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-480.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-330.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-438.04M	USD	Point-in-time
Total BeiGene, Ltd. shareholders' equity	`StockholdersEquity`	$669.81M	USD	Point-in-time
Total BeiGene, Ltd. shareholders' equity	`StockholdersEquity`	$1.34B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$14.34M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$14.42M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.36B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$684.23M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.05B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.71B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$32.54M	USD	1 Quarter
Cost of sales - product	`CostOfGoodsAndServicesSold`	$4.55M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$109.70M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$42.77M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$28.91M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.77M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$188.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$51.54M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$143.35M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-110.81M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-51.54M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$1.55M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$186.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$913.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$729.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-50.44M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-108.53M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$180.00K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-3.41M	USD	1 Quarter
Net loss	`ProfitLoss`	$-50.62M	USD	1 Quarter
Net loss	`ProfitLoss`	$-105.12M	USD	1 Quarter
Less: net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-520.00K	USD	1 Quarter
Net loss attributable to BeiGene, Ltd.	`NetIncomeLoss`	$-50.62M	USD	1 Quarter
Net loss attributable to BeiGene, Ltd.	`NetIncomeLoss`	$-104.60M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	670.51M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	516.44M	shares	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerAmericanDepositoryShare`	$-1.27	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerAmericanDepositoryShare`	$-2.03	USD	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-50.62M	USD	1 Quarter
Net loss	`ProfitLoss`	$-105.12M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$2.24M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$864.00K	USD	1 Quarter
Share-based compensation expenses	`ShareBasedCompensation`	$17.40M	USD	1 Quarter
Share-based compensation expenses	`ShareBasedCompensation`	$5.99M	USD	1 Quarter
Acquired in-process research and development	`AcquiredInProcessResearchAndDevelopment`	$10.00M	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.00K	USD	1 Quarter
Non-cash interest expense	`InterestExpenseOperatingActivities`	$2.01M	USD	1 Quarter
Deferred income tax benefits	`DeferredIncomeTaxesAndTaxCredits`	$-4.09M	USD	1 Quarter
Deferred income tax benefits	`DeferredIncomeTaxesAndTaxCredits`	$-2.16M	USD	1 Quarter
Other non-cash expenses	`OtherNoncashIncomeExpense`	$8.00K	USD	1 Quarter
Other non-cash expenses	`OtherNoncashIncomeExpense`	$482.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.94M	USD	1 Quarter
Unbilled receivable	`IncreaseDecreaseInUnbilledReceivables`	$7.55M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.43M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$13.76M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.48M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.08M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$41.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.47M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-18.49M	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$2.17M	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$6.12M	USD	1 Quarter
Tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$733.00K	USD	1 Quarter
Tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.77M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.74M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$933.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$329.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-35.71M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-104.50M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.70M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.07M	USD	1 Quarter
Payment for the acquisition of land use right	`PaymentsToLandUseRights`	$2.32M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$632.22M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$14.68M	USD	1 Quarter
Proceeds from sale or maturity of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$65.61M	USD	1 Quarter
Proceeds from sale or maturity of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$257.57M	USD	1 Quarter
Purchase of in-process research and development	`PaymentsToPurchaseInProcessResearchAndDevelopment`	$10.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-394.35M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$43.54M	USD	1 Quarter
Proceeds from public offering, net of underwriter discount	`ProceedsFromIssuanceOfCommonStockNetOfUnderwriterDiscount`	$758.00M	USD	1 Quarter
Payment of public offering cost	`PaymentsOfStockIssuanceCosts`	$414.00K	USD	1 Quarter
Proceeds from short-term loan	`ProceedsFromShortTermDebt`	$2.47M	USD	1 Quarter
Proceeds from option exercises	`ProceedsFromStockOptionsExercised`	$6.31M	USD	1 Quarter
Proceeds from option exercises	`ProceedsFromStockOptionsExercised`	$63.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.53M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$763.90M	USD	1 Quarter
Effect of foreign exchange rate changes, net	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-129.00K	USD	1 Quarter
Effect of foreign exchange rate changes, net	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.44M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$268.49M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.24M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$87.51M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$239.60M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$97.75M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$508.09M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$87.51M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$239.60M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$97.75M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$508.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$97.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$490.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$239.60M	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$17.46M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaidNet`	$329.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	$76.00K	USD	1 Quarter
Interest expense paid	`InterestPaidNet`	$331.00K	USD	1 Quarter
Interest expense paid	`InterestPaidNet`	$305.00K	USD	1 Quarter
Acquisitions of equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$3.64M	USD	1 Quarter
Acquisitions of equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$2.20M	USD	1 Quarter
Changes in operating assets and liabilities adjusted through accumulated deficit	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$2.29M	USD	1 Quarter

Comprehensive Income 11 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-50.62M	USD	1 Quarter
Net loss	`ProfitLoss`	$-105.12M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$272.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$90.00K	USD	1 Quarter
Unrealized holding gain (loss), net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$329.00K	USD	1 Quarter
Unrealized holding gain (loss), net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-12.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-50.55M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-104.52M	USD	1 Quarter
Less: comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-456.00K	USD	1 Quarter
Comprehensive loss attributable to BeiGene, Ltd.	`ComprehensiveIncomeNetOfTax`	$-50.55M	USD	1 Quarter
Comprehensive loss attributable to BeiGene, Ltd.	`ComprehensiveIncomeNetOfTax`	$-104.06M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.