Why BeiGene's Shares Jumped on Friday

BeiGene (NASDAQ: BGNE), a Chinese pharmaceutical company, saw its shares rise more than 10% in early trading on Friday. The stock, which closed at $385.24 on Thursday, opened Friday at $422 a share, climbing as high as $426.56 in mid-morning trading. The stock is up more than 55% year to date.

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The company has been on a roll lately with its lead oncology drug, Brukinsa (zanubrutinib). On Wednesday, BeiGene said that the Food and Drug Administration had granted accelerated approval to Brukinsa as a therapy for patients with relapsed or refractory marginal zone lymphoma who have already had at least one regimen of an anti-CD20-based antibody treatment. Anti-CD20 antibodies kill immune B-cells, which can cause inflammation.

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Source Fool.com