Maxim analyst Jason McCarthy lowered the firm's price target on BeiGene to $190 from $210 after its Q4 results. The analyst notes that the company missed on revenue and earnings while the management warned that China sales of Abraxane, Revlamid and Vidaza, as well as trial enrollment delays, could be negatively impacted in the near-term due to COVID-19 spread. McCarthy also cites BeiGene's rising expenses from higher headcount and progress in clinical trials, though he keeps his Buy rating on the stock with positive catalysts remaining intact.

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."