Burning Rock Biotech Ltd

Burning Rock Biotech Ltd (BNR) priced its initial public offering on Jun 12, 2020 at $16.50 per ADS, raising $222.8M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $1.68B. Morgan Stanley was lead-left underwriter, joined by BofA Securities, TD Cowen and US Tiger. Cleary Gottlieb and Maples and Calder advised the company and Simpson Thacher and Jingtian & Gongcheng advised the underwriters.

Burning Rock Biotech Ltd provides NGS-based cancer therapy selection and early cancer detection services in China. Its platform covers tissue and liquid biopsies, and it serves larger hospitals through an in-hospital model and smaller hospitals through a central laboratory model.

Status

IPO

Ticker

BNR

Exchange

Nasdaq Global Market

Priced

Jun 12, 2020

IPO price

$16.50 per ADS

Raised

$222.8M

Market cap at IPO price

$1.68B

First filed

May 22, 2020

Underwriters

Morgan Stanley, BofA Securities, TD Cowen and US Tiger

Company counsel

Cleary Gottlieb and Maples and Calder

Underwriters' counsel

Simpson Thacher and Jingtian & Gongcheng

Sector

Healthcare

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.