IPO Lockup Expiration Alert: Burning Rock Biotech (BNR)

(RTTNews) - The lockup period of Burning Rock Biotech Ltd. (BNR) ends on December 9, 2020.

China-based Burning Rock Biotech focuses on the application of next-generation sequencing (NGS) technology in the field of precision oncology.

Last month, the company in-licensed Myriad Genetics' myChoice tumor testing for homologous recombination deficiency in China.

In the third quarter, i.e., the company's second quarter as a public company, total revenues jumped to RMB123.9 million (US$18.2 million), representing a 19.4% increase from RMB103.7 million for the same period in 2019.

Looking ahead, the company continues to expect total revenue of about RMB420 million (US$61.9 million) for full year 2020. The annual total revenue in 2019 was RMB381.6 million.

Burning Rock Biotech made its debut on The Nasdaq Global Select Market on June 12, 2020, offering its ADSs at a price of $16.50 per ADS and the 180 day lockup period expires on December 9.

BNR opened the first day of trading on June 12 at $22.80 and closed at $24.63 that day. The stock has thus far hit a low of $18.64 and a high of $32.40.

BNR closed Tuesday's trading at $25.80, up 1.10%.