10-K/APeriod: FY2024

BeOne Medicines Ltd. Annual Report (Amendment), Year Ended Dec 31, 2024

Filed February 28, 2025For Securities:ONCBEIGF

Summary

BeOne Medicines Ltd. (ONC) has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, with an amendment filed on February 28, 2025, to correct an inadvertent omission of a signature. This filing indicates ONC is a large accelerated filer and has undergone attestation of its internal control over financial reporting under Section 404(b) of SOX. The company is not a shell company, and as of June 28, 2024, its non-affiliate market capitalization was approximately $8.7 billion. The report also details the outstanding share structure, with over 1.38 billion ordinary shares outstanding, including ADSs and RMB shares. The primary purpose of this amendment is administrative, ensuring the proper execution of the original filing. Investors should note that no new financial data or operational updates are introduced by this specific amendment. The core financial and operational information from the original February 27, 2025, filing remains relevant for understanding the company's performance and position, with the incorporation by reference of portions of its definitive proxy statement for Part III disclosures.

Financial Highlights

50 data points
Beta

Revenue

$3.81B

84.4% Gross Margin

Net Income

-$644.79M

-16.9% Net Margin

EPS (Diluted)

$-0.47

Total Assets

$5.92B

Cash & Equivalents

$2.63B

Free Cash Flow

-$633.29M

Financial Statements
Beta
Revenue$3.81B
Gross Profit$3.22B
R&D Expenses$1.95B
SG&A Expenses$1.83B
Operating Expenses$3.78B
Operating Income-$568.20M
Interest Expense$46.89M
Net Income-$644.79M
EPS (Basic)$-0.47
EPS (Diluted)$-0.47
Shares Outstanding (Basic)1.37B
Shares Outstanding (Diluted)1.37B

Key Highlights

  • 1Company is a large accelerated filer, signifying substantial public float and market capitalization.
  • 2Internal control over financial reporting has been attested to by an independent registered public accounting firm under SOX 404(b).
  • 3Not a shell company, indicating ongoing operations and business activities.
  • 4As of June 28, 2024, non-affiliate market capitalization was approximately $8.7 billion.
  • 5Over 1.38 billion ordinary shares outstanding as of February 14, 2025, including ADSs and RMB shares.
  • 6Filing is an amendment to correct a signature omission, not to update financial or operational data.
  • 7Portions of the company's definitive proxy statement will be incorporated by reference into Part III.

Frequently Asked Questions

The amendment was filed solely to insert the conformed signature of the company's current principal accounting officer, which was inadvertently omitted from the original Form 10-K filed on February 27, 2025. No other information or financial data has been updated or changed.

No, this amendment does not contain any financial statements or update the financial results. It is purely a procedural correction to the original filing.

Being a large accelerated filer indicates that BeOne Medicines meets specific SEC thresholds for public float (market value of shares held by non-affiliates) and has been filing SEC reports for at least 12 months. This generally signifies a company of considerable size and maturity.

The filing confirms that the registrant has filed a report and attestation regarding its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act. This indicates that an independent auditor has reviewed and provided an opinion on the company's internal controls.