Is This Chinese Pharmaceutical Stock Worth the Risk?
BeiGene (NASDAQ: BGNE), is a Chinese biopharmaceutical company with offices in Cambridge, Massachusetts; Basel, Switzerland; and Beijing. It focuses on unique therapies to treat cancer, specializing in B-cell malignancies and solid tumors in lung and gastrointestinal cancers.
Amid delisting concerns, a lot of Chinese stocks have fallen this year. BeiGene is one example with its shares down more than 36% so far in 2022. Lately, however, the company's stock has risen thanks to two potential blockbuster drugs it has in late-stage trials.
Several companies in China face losing their positions on U.S. stock exchanges for refusing to open their books to U.S. auditors, which was disallowed by Chinese law. The need for better auditing of Chinese companies was made clear in 2020 when an accounting scandal broke at Luckin Coffee, and the U.S. Securities and Exchange Commission charged the China-based company with defrauding investors by fabricating revenue and other figures to show rapid growth.
Source Fool.com
