IBN Coverage: Republican Lawmakers Embrace Psychedelic Therapies in Shift Toward Veteran Mental Health Reform
This article was published by IBN, a multifaceted communications organization engaged in connecting public companies to the investment community.
LOS ANGELES, CA - May 20, 2025 ( NEWMEDIAWIRE ) - Rep. Morgan Luttrell (R-Texas), a retired Navy SEAL, is part of a rising wave of Republican lawmakers advocating for the therapeutic use of psychedelics to treat PTSD, depression, and suicidality among veterans - a movement recently spotlighted by The Wall Street Journal. After undergoing ibogaine and DMT therapy in Mexico in 2018, Luttrell described the experience as transformative, helping him confront trauma and save his marriage. Now in Congress, he's pushing for science-based, medically supervised access to Schedule I drugs like ibogaine, psilocybin, and MDMA. Joined by fellow veterans in office, including Rep. Dan Crenshaw (R-Texas) and Rep. Jack Bergman (R-Mich.), Luttrell is helping lead legislative efforts to fund clinical trials through the VA and Pentagon, despite resistance from some conservatives and recent regulatory setbacks like the FDA's rejection of an MDMA therapy from Lykos Therapeutics.
Amid this shift, NRx Pharmaceuticals (NASDAQ: NRXP) and its subsidiary HOPE Therapeutics are emerging as leaders in veteran-focused psychedelic innovation. HOPE is developing ketamine-based treatments for acute suicidality and major depression and is building a nationwide network of…
Read More
NOTE TO INVESTORS: IBN is a multifaceted financial news, content creation and publishing company utilized by both public and private companies to optimize investor awareness and recognition. For more information, please visit https://www.InvestorBrandNetwork.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://IBN.fm/Disclaimer
The latest news and updates relating to NRXP are available in the company's newsroom at https://ibn.fm/NRXP
Forward Looking Statements
Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading 'Risk Factors' discussed under the caption 'Item 1A. Risk Factors' in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption 'Item 1A. Risk Factors' in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law.
About IBN
IBN is a cutting-edge communications and digital engagement platform providing tailored Platform Solutions for select private and public companies. Over the course of 19+ years, IBN has introduced over 70 investor facing brands to the investment public and amassed a collective audience of millions of social media followers. These distinctive investor brands amplify recognition and reach as well as help fulfill the unique needs of our rapidly growing and diverse base of client-partners. IBN will continue to expand our branded network of influential properties as well as leverage the energy and experience of our team of professionals to best serve our clients.
IBN's Platform Solutions provide access to: (1) our Dynamic Brand Portfolio (DBP) through 70+ investor facing brands; (2) article and editorial syndication to 5,000+ news outlets; (3) full-scale distribution to a growing Social Media Network (SMN) ; (4) a network of wire solutions via InvestorWire to effectively reach target markets and demographics; (5) Press Release Enhancement to ensure accuracy and impact; (6) a full array of corporate communications solutions; and (7) total news coverage solutions.
For more information, please visit www.IBN.fm
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: https://IBN.fm/Disclaimer
Media Contact
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[email protected]
View the original release on www.newmediawire.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
34 minutes ago
- USA Today
Will Trump's big bill kill people? Here's the truth about Medicaid cuts.
Will Trump's big bill kill people? Here's the truth about Medicaid cuts. | Opinion Republicans are doing what's right, morally and fiscally. They're requiring able-bodied adults to work as a condition of receiving Medicaid benefits. Show Caption Hide Caption Disabled protesters removed from House committee hearing Disabled demonstrators protesting a Republican proposal to cut benefits were forced to leave a House committee hearing and arrested. Perhaps you've heard: Republicans are about to kick millions of people off health insurance. That claim is all over the news media as Congress debates the One Big Beautiful Bill Act. Advocates on the left even say the proposed changes will kill people. Such claims have no basis in reality. The point is to frighten Republican lawmakers into giving up on necessary reforms. Instead, the GOP should double down. Congressional Budget Office is biased, and often wrong The source for this fearmongering is the Congressional Budget Office. As the Foundation for Government Accountability shows in our new research, CBO staff consists largely of registered Democrats and the agency is often wrong in its projections. Washington elites and their media allies like to hold up the CBO as an all-seeing oracle. In theory, it's a nonpartisan federal agency inside Congress that accurately predicts how legislation will play out in the real world. In reality, CBO is overwhelmingly staffed by Democrats and its findings are less than trustworthy. We painstakingly analyzed the voter registration of every CBO employee. Our finding: A staggering 79% of CBO staff are Democrats. A mere 12% are Republicans. That's actually worse than senior bureaucrats at the most liberal federal agencies, including Housing and Urban Development, the State Department and Health and Human Services. And when you look at key CBO departments, the liberal bias is even more stark. The Health Analysis Division is 93% Democrat and zero Republican. That's the department now driving the news about the dangers of the Republican bill. In other words, CBO may well be the most liberal government outfit in all of Washington. And surprise, surprise: It does Democrats' bidding. Tell us: Republicans want massive cuts to Medicaid. What do you want? | Forum Opinion That fact should persuade Republicans to ignore CBO's analysis of the One Big Beautiful Bill Act. In May, CBO asserted that about 10 million people would lose their Medicaid coverage by 2034 if the bill passed. CBO blames Republican reforms like Medicaid work requirements, more frequent eligibility checks and the removal of illegal immigrants from Medicaid. But think about what's really happening. A group of Democratic bureaucrats are criticizing Republican efforts to roll back Democratic priorities. This isn't nonpartisan policy analysis. It's political damage control. CBO projections were wrong on 'Obamacare' And wouldn't you know: The leftist CBO is frequently wrong. The agency has a long history of underestimating the benefits of Republican policies like tax cuts and health care reforms. The CBO also routinely minimizes the damage of Democratic policies, especially the soaring cost of government expansions. In 2010, when the Affordable Care Act passed, the CBO said only 13 million able-bodied adults would be covered under the law's Medicaid expansion in all 50 states. But within a decade, 50% more able-bodied adults had jumped onto Medicaid, even though only two-thirds of states had expanded the program. Opinion: GOP must cut Medicaid now. Or risk debt crisis and devastating cuts later. CBO's error made "Obamacare" look more affordable than it is, and taxpayers have spent tens of billions of additional dollars on able-bodied adults who push vulnerable Americans and individuals with disabilities back in line. For more than a decade, CBO has been consistently wrong on Medicaid expansion's real-world impact, underestimating enrollment and the cost to taxpayers. But when CBO analyzed the Republican repeal of Obamacare's individual mandate in 2017, it overestimated how many people would lose coverage. It said 4 million people would lose private health coverage and Medicaid in the first two years alone. But by 2020, about 13 million people had gained coverage. CBO could hardly have been more wrong. And the agency is still in charge of making predictions. Now, the CBO is once again warning about massive coverage losses, and their media allies are dutifully repeating the assertion. But congressional Republicans should see through the charade. Case in point: CBO's predictions about the One Big Beautiful Bill Act include 1.6 million people enrolled in Medicaid in multiple states. They won't lose coverage in the state where they live, but CBO still counts them among those losing coverage. In addition, 200,000 'losses' are people who aren't even on Medicaid. CBO just assumes they'll join in the years ahead. GOP is doing the right thing with Medicaid The truth is that Republicans are doing what's right, morally and fiscally. They're requiring able-bodied adults to work as a condition of receiving Medicaid benefits. That will allow states to focus on Medicaid's intended recipients such as individuals with disabilities. Republicans are also removing ineligible people and illegal immigrants from Medicaid rolls. CBO makes it sound like those coverage losses are wrong, but what's really wrong is letting millions of people take advantage of taxpayers. Republicans are looking out for Americans − taxpayers, individuals with disabilities and future generations. The Congressional Budget Office, on the other hand, is looking out for the Democratic agenda of growing government at any cost. Republicans in the Senate should ignore the fearmongering and move forward with the One Big Beautiful Bill Act as soon as possible. Hayden Dublois is data and analytics director at the Foundation for Government Accountability, where Addison Scherler is a data investigator.
Yahoo
34 minutes ago
- Yahoo
When it comes to liberty, Florida, why stop at fluoride?
Our state legislature's ban on fluoridation does not go far enough. When Republican State Rep. Danny Alvarez said, "This is not about fluoride. This is about your liberty," every word applied to chlorine with equal relevancy. Yes, chlorine. The chemical that makes swimming pools smell funny as it neutralizes the indiscretions of bathers. How dare the government add chlorine to our drinking water to protect us from diseases such as cholera, dysentery, and typhoid without our consent! Some of us might prefer seeking "herd immunity" to these illnesses, even though untrustworthy "science" tells us this is impossible. Remember, this "science" also alleges we are in "climate change," an untruth our governor has banned from our textbooks and legislation. Ending chlorination isn't a blue issue or a red issue; it's a green issue. Let's turn our tap water green with algae and pond scum as a perpetual reminder that we are free Americans living in the Free State of Florida. Fluoridation in Florida: City-by-city: Does your municipality use fluoride to treat its drinking water? Carl Imboden, West Palm Beach This article originally appeared on Palm Beach Post: Florida got freedom from fluoride. They shouldn't stop there | Letters
Yahoo
2 hours ago
- Yahoo
Burning Rock Reports First Quarter 2025 Financial Results
GUANGZHOU, China, June 06, 2025 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR, the 'Company' or 'Burning Rock'), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended March 31, 2025. Recent Business Updates Therapy Selection and MRD Personalized Minimal Residual Disease (MRD) product, CanCatch® Custom supports advancement in oesophageal squamous cell carcinoma（OSCC）treatment, with results published in the Molecular Cancer in May 2025. The study is a two-arm, multicenter, randomized, double-blind phase 2 study, comparing the efficacy of systemic treatment combining nCT with immunotherapy against nCT alone for OSCC patients. The study demonstrates that Perioperative Nivolumab plus chemotherapy is a viable and safe option for systemically treating locally advanced resectable OSCC, and monitoring minimal residual disease through ctDNA could be potentially valuable for assessing the effectiveness of adjuvant therapy and for prognostic evaluation in a systemic manner. Presented study results on non-small cell lung cancer and gastrointestinal stromal tumor (GIST) at the ASCO in June 2025. 'Personalized tumor-informed ctDNA has the potential to inform recurrence in high-risk locally advanced stage GIST patients, especially for patients with irregular adjuvant therapy' and 'MUSETALK-Lung01 (MUltiomics SEquencing Technique AppLication Kick-start) is a prospective, longitudinal, observational study designed to evaluate the clinical utility of a tumor-naïve ctDNA assay in patients with early-stage non-small cell lung cancer (NSCLC).' Presented multiple study results at the 2025 AACR in April, showcasing the clinical utility of the tumor-informed personalized MRD assay (CanCatch® Custom) and the tumor-naïve methylation-based MRD assay. First Quarter 2025 Financial Results Revenues were RMB133.1 million (US$18.3 million) for the three months ended March 31, 2025, representing a 5.9% increase from RMB125.6 million for the same period in 2024. Revenue generated from central laboratory business was RMB38.3 million (US$5.3 million) for the three months ended March 31, 2025, representing a 19.6% decrease from RMB47.6 million for the same period in 2024, primarily attributable to a decrease in the number of tests, as we continued to focus on our in-hospital business. Revenue generated from in-hospital business was RMB57.7 million (US$7.9 million) for the three months ended March 31, 2025, representing a 0.5% increase from RMB57.4 million for the same period in 2024, driven by a continuous growth in sales volume. Revenue generated from pharma research and development services was RMB37.1 million (US$5.1 million) for the three months ended March 31, 2025, representing a 79.9% increase from RMB20.6 million for the same period in 2024, primarily attributable to increased development and testing services performed for our pharma customers, and several milestones of our pharma programs were achieved. Cost of revenues was RMB35.7 million (US$4.9 million) for the three months ended March 31, 2025, representing a 10.6% decrease from RMB39.9 million for the same period in 2024, primarily due to a decrease in cost of central laboratory business, which was in line with the decrease in revenue generated from this business. Gross profit was RMB97.4 million (US$13.4 million) for the three months ended March 31, 2025, representing a 13.7% increase from RMB85.7 million for the same period in 2024. Gross margin was 73.2% for the three months ended March 31, 2025, compared to 68.2% for the same period in 2024. By channel, gross margin of central laboratory business was 84.1% for the three months ended March 31, 2025, compared to 77.7% during the same period in 2024, primarily due to a reduction in material and labor costs resulted from cost optimization and control measures and a decreased depreciation and rental cost in relation to our laboratory of Guangzhou headquarter; gross margin of in-hospital business was 76.1% for the three months ended March 31, 2025, compared to 68.3% during the same period in 2024, primarily due to the same reason; gross margin of pharma research and development services was 57.5% for the three months ended March 31, 2025, compared to 46.1% during the same period of 2024, primarily due to the cost optimization measures and an increase in test volume of higher margin projects. Non-GAAP gross profit, which excludes depreciation and amortization expenses, RMB100.7 million (US$13.9 million) for the three months ended March 31, 2025, representing an 8.3% increase from RMB93.0 million for the same period in 2024. Non-GAAP gross margin was 75.6% for the three months ended March 31, 2025, compared to 74.0% for the same period in 2024. Operating expenses were RMB112.6 million (US$15.5 million) for the three months ended March 31, 2025, representing a 46.8% decrease from RMB211.5 million for the same period in 2024. The decrease was primarily driven by budget control measures and headcount reduction to improve the Company's operating efficiency. Research and development expenses were RMB40.4 million (US$5.6 million) for the three months ended March 31, 2025, representing a 38.8% decrease from RMB66.0 million for the same period in 2024, primarily due to (i) a decrease in amortized expense on share-based compensation; (ii) a decrease in the expenditure for detection research and (iii) a decrease in depreciation and amortization. Selling and marketing expenses were RMB40.9 million (US$5.6 million) for the three months ended March 31, 2025, representing a 12.7% decrease from RMB46.9 million for the same period in 2024, primarily due to (i) a decrease in staff cost resulted from the reorganization of our sales department to improve operating efficiency and (ii) a decrease in depreciation and amortization. General and administrative expenses were RMB31.3 million (US$4.3 million) for the three months ended March 31, 2025, representing a 68.3% decrease from RMB98.7 million for the same period in 2024, primarily due to (i) a decrease in amortized expense on share-based compensation; (ii) a decrease in depreciation and amortization; (iii) a decrease in staff cost resulted from the reorganization; and (iv) a decrease in operating lease expense for office building. Net loss was RMB13.5 million (US$1.9 million) for the three months ended March 31, 2025, compared to RMB121.5 million for the same period in 2024. Cash, cash equivalents and restricted cash were RMB497.4 million (US$68.5 million) as of March 31, 2025. Exchange Rate Information This press release contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB7.2567 to US$1.00, the exchange rate on March 31, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. About Burning Rock Burning Rock Biotech Limited (NASDAQ: BNR), whose mission is to guard life via science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage. For more information about Burning Rock, please visit: Safe Harbor Statement This press release contains forward-looking statements. These statements constitute 'forward-looking' statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'target,' 'confident' and similar statements. Burning Rock may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Burning Rock's beliefs and expectations, are forward-looking statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Burning Rock's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Burning Rock does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. Non-GAAP Measures In evaluating the business, the Company considers and uses non-GAAP measures, such as non-GAAP gross profit and non-GAAP gross margin, as supplemental measures to review and assess operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America ('U.S. GAAP'). The company defines non-GAAP gross profit as gross profit excluding depreciation and amortization. The company defines non-GAAP gross margin as gross margin excluding depreciation and amortization. The company presents these non-GAAP financial measures because they are used by management to evaluate operating performance and formulate business plans. The company believe non-GAAP gross profit and non-GAAP gross margin excluding non-cash impact of depreciation and amortization reflect the company's ongoing business operations in a manner that allows more meaningful period-to-period comparisons. Contact: IR@ Selected Operating Data As of March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 In-hospital Channel: Pipeline partner hospitals(1) 28 29 30 29 30 Contracted partner hospitals(2) 59 59 61 63 63 Total number of partner hospitals 87 88 91 92 93(1) Refers to hospitals that are in the process of establishing in-hospital laboratories, laboratory equipment procurement or installation, staff training or pilot testing using the Company's products. (2) Refers to hospitals that have entered into contracts to purchase the Company's products for use on a recurring basis in their respective in-hospital laboratories the Company helped them establish. Kit revenue is generated from contracted hospitals. Selected Financial Data For the three months ended Revenues March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 (RMB in thousands) Central laboratory channel 47,614 48,773 39,984 39,278 38,296 In-hospital channel 57,387 59,872 63,769 43,464 57,687 Pharma research and development channel 20,622 26,888 24,891 43,280 37,099 Total revenues 125,623 135,533 128,644 126,022 133,082 For the three months ended Gross profit March 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands) Central laboratory channel 37,002 38,424 33,262 33,153 32,191 In-hospital channel 39,192 44,058 46,580 29,563 43,895 Pharma research and development channel 9,500 12,956 12,004 26,706 21,315 Total gross profit 85,694 95,438 91,846 89,422 97,401 For the three months ended Share-based compensation expenses March 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands) Cost of revenues 596 464 289 520 308 Research and development expenses 12,287 12,008 3,180 3,202 1,800 Selling and marketing expenses 508 1,232 1,917 1,353 1,025 General and administrative expenses 55,990 54,407 4,732 2,937 1,413 Total share-based compensation expenses 69,381 68,111 10,118 8,012 4,546 Burning Rock Biotech Limited Unaudited Condensed Statements of Comprehensive Loss (in thousands, except for number of shares and per share data) For the three months ended March 31,2024 June 30,2024 September 30, 2024 December 31,2024 March 31, 2025 March 31, 2025 RMB RMB RMB RMB RMB US$ Revenues 125,623 135,533 128,644 126,022 133,082 18,340 Cost of revenues (39,929 ) (40,095 ) (36,798 ) (36,600 ) (35,681 ) (4,918 ) Gross profit 85,694 95,438 91,846 89,422 97,401 13,422 Operating expenses: Research and development expenses (65,985 ) (64,952 ) (49,150 ) (52,203 ) (40,389 ) (5,566 ) Selling and marketing expenses (46,856 ) (48,907 ) (48,411 ) (46,730 ) (40,888 ) (5,635 ) General and administrative expenses (98,681 ) (92,794 ) (32,874 ) (37,289 ) (31,303 ) (4,314 ) Impairment loss on long-lived assets (35,127 ) Total operating expenses (211,522 ) (206,653 ) (130,435 ) (171,349 ) (112,580 ) (15,515 ) Loss from operations (125,828 ) (111,215 ) (38,589 ) (81,927 ) (15,179 ) (2,093 ) Interest income 4,038 3,187 3,173 1,814 2,581 356 Other income (expense), net 434 (82 ) 1 4,353 (652 ) (90 ) Foreign exchange (loss) gain, net (13 ) 262 (129 ) (220 ) (26 ) (4 ) Loss before income tax (121,369 ) (107,848 ) (35,544 ) (75,980 ) (13,276 ) (1,831 ) Income tax expenses (180 ) (190 ) (201 ) (5,314 ) (224 ) (31 ) Net loss (121,549 ) (108,038 ) (35,745 ) (81,294 ) (13,500 ) (1,862 ) Net loss attributable to Burning Rock Biotech Limited's shareholders (121,549 ) (108,038 ) (35,745 ) (81,294 ) (13,500 ) (1,862 ) Net loss attributable to ordinary shareholders (121,549 ) (108,038 ) (35,745 ) (81,294 ) (13,500 ) (1,862 ) Loss per share for class A and class B ordinary shares: Class A ordinary shares - basic and diluted (1.19 ) (1.05 ) (0.35 ) (0.79 ) (0.13 ) (0.02 ) Class B ordinary shares - basic and diluted (1.19 ) (1.05 ) (0.35 ) (0.79 ) (0.13 ) (0.02 ) Weighted average shares outstanding used in loss per share computation: Class A ordinary shares - basic and diluted 85,219,188 85,271,858 85,902,670 86,036,286 90,291,658 90,291,658 Class B ordinary shares - basic and diluted 17,324,848 17,324,848 17,324,848 17,324,848 17,324,848 17,324,848 Other comprehensive income (loss), net of tax of nil: Foreign currency translation adjustments 590 940 (4,054 ) 6,009 (72 ) (10 ) Total comprehensive loss (120,959 ) (107,098 ) (39,799 ) (75,285 ) (13,572 ) (1,872 ) Total comprehensive loss attributable to Burning Rock Biotech Limited's shareholders (120,959 ) (107,098 ) (39,799 ) (75,285 ) (13,572 ) (1,872 ) Burning Rock Biotech LimitedUnaudited Condensed Consolidated Balance Sheets(In thousands) As of December 31, 2024 March 31,2025 March 31,2025 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 519,849 495,145 68,233 Restricted cash 2,313 2,261 312 Accounts receivable, net 152,013 159,463 21,974 Contract assets, net 13,855 17,178 2,367 Inventories, net 62,625 65,424 9,016 Prepayments and other current assets, net 25,963 22,072 3,042 Total current assets 776,618 761,543 104,944 Non-current assets: Property and equipment, net 47,152 41,162 5,672 Operating right-of-use assets 53,188 43,804 6,036 Intangible assets, net 421 386 53 Other non-current assets 7,926 7,822 1,078 Total non-current assets 108,687 93,174 12,839 TOTAL ASSETS 885,305 854,717 117,783 Burning Rock Biotech LimitedUnaudited Condensed Consolidated Balance Sheets (Continued)(in thousands) As of December 31,2024 March 31,2025 March 31,2025 RMB RMB US$ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 33,747 35,938 4,952 Deferred revenue 117,895 117,200 16,151 Accrued liabilities and other current liabilities 89,498 76,198 10,501 Customer deposits 592 592 82 Current portion of operating lease liabilities 24,567 22,524 3,104 Total current liabilities 266,299 252,452 34,790 Non-current liabilities: Non-current portion of operating lease liabilities 27,754 19,814 2,730 Other non-current liabilities 10,425 10,649 1,467 Total non-current liabilities 38,179 30,463 4,197 TOTAL LIABILITIES 304,478 282,915 38,987 Shareholders' equity: Class A ordinary shares 124 124 17 Class B ordinary shares 21 21 3 Additional paid-in capital 5,002,255 5,005,991 689,844 Treasury stock (63,264 ) (62,453 ) (8,606 ) Accumulated deficits (4,200,261 ) (4,213,761 ) (580,672 ) Accumulated other comprehensive loss (158,048 ) (158,120 ) (21,790 ) Total shareholders' equity 580,827 571,802 78,796 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 885,305 854,717 117,783 Burning Rock Biotech LimitedUnaudited Condensed Statements of Cash Flows(in thousands) For the three months ended March 31,2024 March 31,2025 March 31,2025 RMB RMB US$ Net cash generated from (used in) operating activities 19,062 (23,527 ) (3,242 ) Net cash used in investing activities (812 ) (1,531 ) (211 ) Net cash used in financing activities (74 ) - - Effect of exchange rate on cash, cash equivalents and restricted cash 5,739 302 43 Net increase in (decrease) cash, cash equivalents and restricted cash 23,915 (24,756 ) (3,410 ) Cash, cash equivalents and restricted cash at the beginning of period 498,247 522,162 71,955 Cash, cash equivalents and restricted cash at the end of period 522,162 497,406 68,545 Burning Rock Biotech LimitedReconciliations of GAAP and Non-GAAP Results For the three months ended March 31,2024 June 30,2024 September 30,2024 December 31,2024 March 31,2025 (RMB in thousands) Gross profit: Central laboratory channel 37,002 38,424 33,262 33,153 32,191 In-hospital channel 39,192 44,058 46,580 29,563 43,895 Pharma research and development channel 9,500 12,956 12,004 26,706 21,315 Total gross profit 85,694 95,438 91,846 89,422 97,401 Add: depreciation and amortization: Central laboratory channel 1,919 1,226 1,277 1,010 562 In-hospital channel 1,524 824 798 623 290 Pharma research and development channel 3,856 4,417 3,846 2,534 2,412 Total depreciation and amortization included in cost of revenues 7,299 6,467 5,921 4,167 3,264 Non-GAAP gross profit： Central laboratory channel 38,921 39,650 34,539 34,163 32,753 In-hospital channel 40,716 44,882 47,378 30,186 44,185 Pharma research and development channel 13,356 17,373 15,850 29,240 23,727 Total non-GAAP gross profit 92,993 101,905 97,767 93,589 100,665 Non-GAAP gross margin： Central laboratory channel 81.7% 81.3% 86.4% 87.0% 85.5% In-hospital channel 70.9% 75.0% 74.3% 69.5% 76.6% Pharma research and development channel 64.8% 64.6% 63.7% 67.6% 64.0% Total non-GAAP gross margin 74.0% 75.2% 76.0% 74.3% 75.6%Sign in to access your portfolio
