Beijing's BeiGene Raises $200 Million In A Secondary Offering

BeiGene, a Beijing novel oncology biopharma, completed a $200 secondary offering last week, up from its initial target of $150 million. The $200 million included $15 million from selling shareholders. In February, BeiGene raised $158 million in a NASDAQ IPO, and it reported $200 million in cash at the end of the third quarter. BeiGene is currently running clinical trials on four novel cancer drug candidates, and its costs have risen as a result: the company reported a loss of $80 million in the first nine months of 2017.