Study Comparing BGB-B2033 With Sorafenib or Lenvatinib in Relapsed Hepatocellular Carcinoma

Key Inclusion Criteria:

1. Participants must have histologically confirmed Hepatocellular Carcinoma (HCC) that is not amenable to curative surgical or locoregional therapies.
2. Participants must have documented disease progression or intolerance after at least 1 but not exceeding 2 prior lines of systemic therapy containing Programmed Cell Death Protein 1 / Programmed Death-Ligand 1 (PD-1/PD-L1). Prior cytotoxic T-lymphocyte-associated protein 4 (CTLA-4) targeting therapy or v ascular endothelial growth factor (VEGF) is permitted but not required.
3. Glypican-3 (GPC3) expression level must be known for stratification.
4. Participants must have at least 1 measurable lesion as assessed by RECIST v1.1
5. Participants must have a stable Eastern Cooperative Oncology Group (ECOG) Performance Status of ≤ 1.

Key Exclusion Criteria:

1. Prior therapy targeting GPC3 or 4-1BB
2. Participants not feasible to be treated with lenvatinib or sorafenib

   1. prior exposure to both medications
   2. siginificant precautions of administering lenvatinib or sorafenib such as clinically significant active bleeding within 3 months prior to first dose, tumor thombus involving main portal vein trunk, inferior vena cava, or cardiac involvement,
   3. any history of gastrointestinal perforation or larger than grade 3 fistula within 6 months prior to the first dose,
   4. or any history of heart failure meeting NYHA classification III or IV ≤ 6 months before the first dose of study drug.
3. Active leptomeningeal disease or uncontrolled and untreated brain metastasis
4. History of previous or present encephalopathy
5. Presence of clinically significant ascites ((≥ Grade 2).
6. History of liver transplantation

NOTE: Other eligbility criteria may apply.