Why BeiGene Stock Is Soaring This Week

Shares of BeiGene (NASDAQ: BGNE) were soaring 17.9% higher this week as of the market close on Thursday. The big gain came after the U.S. Food and Drug Administration (FDA) approved Brukinsa as a treatment for Waldenström's macroglobulinemia (WM), a rare type of blood cancer.

The FDA approval decision was based on data from a phase 3 study that evaluated Brukinsa in a head-to-head comparison with Imbruvica, a blockbuster blood cancer drug marketed by AbbVie and Johnson & Johnson. Brukinsa outperformed Imbruvica on several fronts in this study.

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Source Fool.com