Piper Jaffray analyst Tyler Van Buren keeps an Overweight rating on BeiGene with a $180 price after management reviewed recent clinical updates for the zanubrutinib and tislelizumab development programs. The analyst continues to believe that zanubrutinib provides a differentiated therapeutic profile compared to ibrutinib. This will likely prove definitive in the head-to-head Phase III trials to read out later in the year in Waldenstrom macroglobulinemia, Van Buren tells investors in a research note titled "The BeiGene Global Portfolio Development Strategy Remains On Track." Further, the analyst finds the combo's activity in chronic lymphocytic leukemia/small lymphocytic lymphoma and Hodgkin's lymphoma "promising."

BeiGene announced that the European Commission has approved tislelizumab as a treatment for non-small cell lung cancer across three indications, including first- and second-line use. "Tislelizumab is foundational for BeiGene's solid tumor portfolio and has demonstrated its potential across multiple tumor types, including NSCLC, in which there remains a significant unmet need at all stages of the disease," said Mark Lanasa, M.D., Ph.D., Chief Medical Officer, Solid Tumors at BeiGene. "Today's EC authorization marks the second in the region for tislelizumab, with both NSCLC and locally advanced or metastatic esophageal squamous cell carcinoma now approved in the European Union. Second-line use in ESCC was also approved just weeks ago by the U.S. Food and Drug Administration, putting us well on our way to fulfilling our commitment to bring this innovative therapy to many more patients around the world."