Burning Rock Biotech Limited (BNR) Wednesday reported loss before tax of RMB121.37 million or $16.81 million for the first quarter, lesser than RMB184.83 million loss in the same quarter a year ago, primarily due to reduced operating expenses.
Operating expenses in the first quarter decreased to RMB211.52 million from RMB287.23 million last year.
Net loss narrowed to RMB121.55 million or $16.84 million from RMB185.25 million loss a year ago. Net loss per share was RMB1.19 or $0.16, compared with RMB1.81 loss a year ago.
Revenue for the quarter declined 11.9 percent to RMB125.62 million or $17.4 million from RMB142.52 million in the previous year.
Looking ahead, the company said it expects to achieve breakeven for the full year.
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