BeyondSpring Reports Third‑Quarter 2025 Financial Results and Provides Corporate Update
FLORHAM PARK, N.J., Nov. 12, 2025 (GLOBE NEWSWIRE) -- BeyondSpring Inc. (NASDAQ: BYSI), a clinical-stage company developing transformative therapies for the treatment of cancer and other diseases, today reported Q3 2025 financial results alongside clinical and corporate milestones.
“With over 700 patients treated, Plinabulin continues to demonstrate a favorable safety profile and meaningful potential as an immune-modulating therapy with unique mechanism of dendritic cell (DC) maturation and T cell priming,” said Dr. Lan Huang, Co-Founder, Chair and Chief Executive Officer of BeyondSpring. “With DC bridging innate and adaptive immunity, Plinabulin offers new hope for patients with NSCLC and other cancers whose disease progresses after checkpoint inhibitors, presented at recent SITC conference. In addition, results from our global Phase 3 DUBLIN-3 trial, published in The Lancet Respiratory Medicine, showed that Plinabulin in combination with docetaxel achieved durable survival benefits and reduced chemotherapy-induced neutropenia, reinforcing its potential to advance the standard of care and drive long-term value creation.”
Dr. Huang added, “At SEED, which we co-founded with Lilly five years ago, we are excited that our RBM39 molecular-glue degrader has received IND clearance from both the US FDA and China NMPA. It is such an honor to be the only target protein degradation company nominated by the Prix Galien Foundation, recognizing our commitment to developing transformative medicine for patients. We are also grateful for the support of our investors and collaborators, including Lilly and Eisai, and clinicians from leading US institutions, as we work together to advance molecular glue development to address undruggable targets for patients with unmet medical needs.”
Key Milestones:
Third Quarter Financial Results1
Continuing operations:
Discontinued operations:
Year to Date Financial Results1
Continuing Operations:
Discontinued operations:
Note 1: Accounting Update
Following definitive agreements in January 2025 to sell the majority of its Series A-1 Preferred Shares in SEED Therapeutics, BeyondSpring now reports SEED’s financial results as discontinued operations under ASC 205-20. BeyondSpring currently owns approximately 38% of SEED and upon completion of the future sale transactions BeyondSpring would own approximately 14% of SEED’s outstanding shares.
About BeyondSpring
BeyondSpring (NASDAQ: BYSI) is a clinical-stage biopharmaceutical company developing first-in-class therapies addressing high unmet medical needs. Its lead asset, Plinabulin, is in late-stage clinical development as an anti-cancer agent in NSCLC and other indications. Plinabulin’s novel mechanism as a dendritic cell maturation agent supports both anti-cancer activity and immune modulation, offering a unique approach to resensitizing tumors resistant to checkpoint inhibitors. Learn more at beyondspringpharma.com.
About SEED Therapeutics
SEED Therapeutics is a clinical-stage biotechnology company pioneering rationally designed molecular glue degraders to treat diseases driven by undruggable proteins. Its proprietary RITE3™ platform enables targeted protein degradation with small-molecule precision. SEED’s lead candidate, ST-01156, is a brain-penetrant RBM39 degrader entering clinical development for Ewing sarcoma and other RBM39-dependent cancers. SEED’s investors and collaborators include Eli Lilly and Eisai, both of whom have been instrumental in supporting SEED’s mission to unlock undruggable disease targets. The company’s pipeline includes nine programs across oncology, neurodegeneration, immunology, and virology. Learn more at seedtherapeutics.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements that are not historical facts. Words such as “will,” “expect,” “anticipate,” “plan,” “believe,” “design,” “may,” “future,” “estimate,” “predict,” “objective,” “goal,” or variations thereof and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on BeyondSpring’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties, and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, difficulties raising the anticipated amount needed to finance the Company’s future operations on terms acceptable to the Company, if at all, unexpected results of clinical trials, delays or denial in regulatory approval process, results that do not meet the Company’s expectations regarding the potential safety, the ultimate efficacy or clinical utility of the Company’s product candidates, increased competition in the market, the Company’s ability to meet Nasdaq’s continued listing requirements, and other risks described in BeyondSpring’s most recent Form 10-K on file with the U.S. Securities and Exchange Commission. All forward-looking statements made herein speak only as of the date of this release and BeyondSpring undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
Contacts
Investor Relations: ir@beyondspring.com
Media: pr@beyondspringpharma.com
| BEYONDSPRING INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of U.S. Dollars (“$”), except for number of shares and per share data) | ||||||||
| As of | ||||||||
| December 31, 2024 | September 30, 2025 | |||||||
| $ | $ | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | 2,922 | 12,483 | ||||||
| Short term investments | - | 141 | ||||||
| Advances to suppliers | 240 | 250 | ||||||
| Prepaid expenses and other current assets | 68 | 131 | ||||||
| Current assets of discontinued operations | 25,347 | 11,406 | ||||||
| Total current assets | 28,577 | 24,411 | ||||||
| Noncurrent assets: | ||||||||
| Property and equipment, net | 239 | 184 | ||||||
| Operating right-of-use assets | 513 | 368 | ||||||
| Other noncurrent assets | 213 | 219 | ||||||
| Noncurrent assets of discontinued operations | 4,773 | 4,302 | ||||||
| Total noncurrent assets | 5,738 | 5,073 | ||||||
| Total assets | 34,315 | 29,484 | ||||||
| Liabilities and equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | 295 | 304 | ||||||
| Accrued expenses | 840 | 990 | ||||||
| Current portion of operating lease liabilities | 282 | 313 | ||||||
| Other current liabilities | 780 | 676 | ||||||
| Current liabilities of discontinued operations | 8,813 | 10,608 | ||||||
| Total current liabilities | 11,010 | 12,891 | ||||||
| Noncurrent liabilities: | ||||||||
| Operating lease liabilities | 307 | 93 | ||||||
| Deferred revenue | 27,400 | 28,094 | ||||||
| Other noncurrent liabilities | 3,686 | 3,840 | ||||||
| Noncurrent liabilities of discontinued operations | 6,197 | 4,376 | ||||||
| Total noncurrent liabilities | 37,590 | 36,403 | ||||||
| Total liabilities | 48,600 | 49,294 | ||||||
| Commitments and contingencies | ||||||||
| Shareholders’ deficit | ||||||||
| Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 40,316,320 and 40,322,320 shares issued and outstanding as of December 31, 2024 and September 30, 2025, respectively) | 4 | 4 | ||||||
| Additional paid-in capital | 373,185 | 373,602 | ||||||
| Accumulated deficit | (407,425 | ) | (406,294 | ) | ||||
| Accumulated other comprehensive income | 1,336 | 913 | ||||||
| Total BeyondSpring Inc.’s shareholders’ deficit | (32,900 | ) | (31,775 | ) | ||||
| Noncontrolling interests | 18,615 | 11,965 | ||||||
| Total shareholders’ deficit | (14,285 | ) | (19,810 | ) | ||||
| Total liabilities and shareholders’ deficit | 34,315 | 29,484 | ||||||
| BEYONDSPRING INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Amounts in thousands of U.S. Dollars (“$”), except for number of shares and per share data) (Unaudited) | ||||||||||||||||
| Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
| 2024 | 2025 | 2024 | 2025 | |||||||||||||
| $ | $ | $ | $ | |||||||||||||
| Revenue | - | - | - | - | ||||||||||||
| Operating expenses | ||||||||||||||||
| Research and development | (622 | ) | (1,039 | ) | (2,172 | ) | (2,915 | ) | ||||||||
| General and administrative | (1,736 | ) | (751 | ) | (4,882 | ) | (3,434 | ) | ||||||||
| Loss from operations | (2,358 | ) | (1,790 | ) | (7,054 | ) | (6,349 | ) | ||||||||
| Foreign exchange gain, net | 128 | 24 | 45 | 100 | ||||||||||||
| Interest income | 15 | 19 | 55 | 64 | ||||||||||||
| Other income, net | - | 30 | 8 | 48 | ||||||||||||
| Loss before income tax | (2,215 | ) | (1,717 | ) | (6,946 | ) | (6,137 | ) | ||||||||
| Income tax expenses | - | (26 | ) | - | (68 | ) | ||||||||||
| Net loss from continuing operations | (2,215 | ) | (1,743 | ) | (6,946 | ) | (6,205 | ) | ||||||||
| Discontinued operations | ||||||||||||||||
| Loss from discontinued operations | (2,358 | ) | (3,201 | ) | (5,004 | ) | (9,204 | ) | ||||||||
| Gain on sale of subsidiary interests | - | - | - | 6,986 | ||||||||||||
| Income tax expenses | - | - | - | - | ||||||||||||
| Net loss from discontinued operations | (2,358 | ) | (3,201 | ) | (5,004 | ) | (2,218 | ) | ||||||||
| Net loss | (4,573 | ) | (4,944 | ) | (11,950 | ) | (8,423 | ) | ||||||||
| Less: Net income (loss) attributable to noncontrolling interests from continuing operations | (83 | ) | 41 | (198 | ) | (106 | ) | |||||||||
| Less: Net loss attributable to noncontrolling interests from discontinued operations | (2,358 | ) | (3,445 | ) | (2,358 | ) | (9,448 | ) | ||||||||
| Net income (loss) attributable to BeyondSpring Inc. | (2,132 | ) | (1,540 | ) | (9,394 | ) | 1,131 | |||||||||
| Earnings (loss) per share, basic and diluted | ||||||||||||||||
| Continuing operations | (0.05 | ) | (0.04 | ) | (0.17 | ) | (0.15 | ) | ||||||||
| Discontinued operations | - | - | (0.07 | ) | 0.18 | |||||||||||
| Basic and diluted earnings (loss) per share | (0.05 | ) | (0.04 | ) | (0.24 | ) | 0.03 | |||||||||
| Weighted-average shares outstanding | ||||||||||||||||
| Basic and diluted | 40,300,350 | 40,317,266 | 39,539,494 | 40,316,639 | ||||||||||||
| Other comprehensive loss, net of tax of nil: | ||||||||||||||||
| Foreign currency translation adjustment loss from continuing operations | (905 | ) | (166 | ) | (318 | ) | (660 | ) | ||||||||
| Foreign currency translation adjustment gain (loss) from discontinued operations | 4 | (17 | ) | (7 | ) | (51 | ) | |||||||||
| Comprehensive loss | (5,474 | ) | (5,127 | ) | (12,275 | ) | (9,134 | ) | ||||||||
| Less: Comprehensive loss attributable to noncontrolling interests from continuing operations | (408 | ) | (19 | ) | (311 | ) | (343 | ) | ||||||||
| Less: Comprehensive loss attributable to noncontrolling interests from discontinued operations | (2,354 | ) | (3,462 | ) | (2,354 | ) | (9,499 | ) | ||||||||
| Comprehensive income (loss) attributable to BeyondSpring Inc. | (2,712 | ) | (1,646 | ) | (9,610 | ) | 708 | |||||||||