BeiGene Files To Raise $150 Million In Secondary Offering

BeiGene, the Beijing novel oncology drug developer, has filed to raise as much as $150 million in a secondary offering. The company completed a $158 million IPO in February, and it reported $200 million in cash at the end of the third quarter. BeiGene has four molecules in clinical development along with several pre-clinical programs, and the increase in clinical trial costs has driven expenses higher. The company's nine-month 2016 expenses ($80 million) are running at more than twice 2015 levels ($30 million).