Schedule I - Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule I - Condensed Financial Information of Registrant

BeiGene, Ltd.

Financial Information of Parent Company

Condensed Statements of Operations

(Amounts in thousands of U.S. Dollars (“$”))


	Year Ended December 31,
	2024	2023	2022
	$	$	$
Operating expenses
Research and development	353,903	326,560	637,152
Selling, general and administrative	357,103	304,543	228,801
Total operating expenses	711,006	631,103	865,953
Loss from operations	(711,006)	(631,103)	(865,953)
Interest income, net	3,101	48,982	39,585
Other income (expense), net	63,522	(297,856)	(1,173,306)
Loss before income taxes	(644,383)	(879,977)	(1,999,674)
Income tax expense	403	1,731	4,141
Net loss	(644,786)	(881,708)	(2,003,815)

BeiGene, Ltd.

Financial Information of Parent Company

Condensed Statements of Comprehensive Loss

(Amounts in thousands of U.S. Dollars (“$”))


	Year Ended December 31,
	2024	2023	2022
	$	$	$
Net loss	(644,786)	(881,708)	(2,003,815)
Other comprehensive (loss) income, net of tax of nil:
Foreign currency translation adjustments	(47,565)	(25,464)	(90,421)
Pension liability adjustments, net	(1,942)	(5,611)	365
Unrealized holding gain (loss), net	(35)	9,046	(5,311)
Comprehensive loss	(694,328)	(903,737)	(2,099,182)

BeiGene, Ltd.

Financial Information of Parent Company

Condensed Balance Sheets

(Amounts in thousands of U.S. Dollars (“$”))


	As of December 31,
	2024	2023
	$	$
Assets
Current assets:
Cash and cash equivalents	400,135	723,964
Prepaid expenses and other current assets	249,016	785,471
Total current assets	649,151	1,509,435
Loans to subsidiaries	1,731,266	2,030,249
Investment in wholly owned subsidiaries	2,081,335	1,207,352
Other non-current assets	114,728	69,361
Total assets	4,576,480	4,816,397
Liabilities and shareholders’ equity
Current liabilities:
Accrued expenses and other payables	424,111	197,289
Indebtedness to subsidiaries	—	362,917
Short-term debt	762,146	547,215
Total current liabilities	1,186,257	1,107,421
Other long-term liabilities	58,000	171,649
Total liabilities	1,244,257	1,279,070
Total shareholders’ equity	3,332,223	3,537,327
Total liabilities and shareholders’ equity	4,576,480	4,816,397

BeiGene, Ltd.

Financial Information of Parent Company

Condensed Statements of Cash Flows

(Amounts in thousands of U.S. Dollars (“$”))


	Year Ended December 31,
	2024	2023	2022
	$	$	$
Cash flows from operating activities:
Net loss	(644,786)	(881,708)	(2,003,815)
Adjustments to reconcile net loss to net cash used in operating activities:
Acquired in-process research and development	—	15,000	—
Amortization of research and development cost share liability	(73,226)	(55,294)	(96,402)
Unrealized (gains) losses in subsidiaries	(85,471)	237,351	932,071
Other items, net	31,651	(374,370)	(596,496)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	1,053	30,519	6,671
Accrued expenses and other payables	627,307	(140,126)	875,826
Net cash used in operating activities	(143,472)	(1,168,628)	(882,145)
Cash flows from investing activities:
Purchases of short-term investments	—	(2,075)	(1,485)
Proceeds from sale or maturity of short-term investments	2,628	552,000	1,487,028
Purchase of in-process research and development	—	(15,000)	(75,000)
Investment in subsidiaries	(406,624)	(883,328)	(2,675,908)
Other investing activities	(37,120)	188,656	79,004
Net cash used in investing activities	(441,116)	(159,747)	(1,186,361)
Cash flows from financing activities:

Proceeds from short-term loans	813,058	547,842	296,188
Repayment of short-term loans	(593,898)	(293,002)	(247,460)
Proceeds from option exercises and employee share purchase plan	45,371	55,712	46,965
Net cash provided by financing activities	264,531	310,552	95,693
Effect of foreign exchange rate changes, net	(4,356)	—	—
Net decrease in cash, cash equivalents, and restricted cash	(324,413)	(1,017,823)	(1,972,813)
Cash, cash equivalents, and restricted cash, beginning of year	724,548	1,742,371	3,715,184
Cash, cash equivalents, and restricted cash, end of year	400,135	724,548	1,742,371

Notes

1.Schedule I has been provided pursuant to the requirements of Rules 12-04(a) and 5-04(c) of Regulation S-X (the “Rules”), which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.

2.The condensed financial information has been prepared using the same accounting policies as set out in the consolidated financial statements. For purposes of this condensed financial information, BeiGene, Ltd. (the “Parent Company”)’s investments in its wholly owned and majority owned subsidiaries are recorded under the equity method of accounting in accordance with ASC 323.

3.Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted as allowed under the Rules. These footnote disclosures provide certain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements.

4.As of December 31, 2024, the Parent Company had a remaining capital commitment of $7,350 on an equity investment which is expected to be paid from time to time over the investment period. The Parent Company has unconditionally guaranteed the payment and performance of the obligations of BeiGene Switzerland GmbH in accordance with the terms of the global strategic oncology collaboration with Amgen Inc. No amounts have been recognized related to this guarantee. The Parent Company has no other material contingencies, long-term obligations or guarantees not already disclosed in its consolidated financial statements.