Burning Rock Biotech To Buy Back Up To $10 Mln Shares - Quick Facts

(RTTNews) - Burning Rock Biotech Ltd. (BNR), a Chinese next generation sequencing or NGS technology company in the field of precision oncology, announced Tuesday that its board of directors has authorized a share repurchase plan of up to $10 million.

Under the program, the company may repurchase its Class A ordinary shares in the form of American depositary shares with an aggregate value of up to $10 million during a 12-month period.

Burning Rock said the proposed repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means.

The company plans to fund repurchases from its existing cash balance.