BeyondSpring(BYSI) - 2025 Q3 - Quarterly Results

Financial Performance - BeyondSpring reported a net loss of $1.7 million for Q3 2025, an improvement from a net loss of $2.2 million in Q3 2024[10] - The company reported a net loss of $6.2 million for the nine months ended September 30, 2025, compared to $6.9 million for the same period in 2024[10] - For the three months ended September 30, 2024, the net loss attributable to BeyondSpring Inc. was $2,132,000, compared to a net loss of $1,540,000 for the same period in 2025[18] - The comprehensive loss attributable to operations for the three months ended September 30, 2024, was $2,712,000, compared to a loss of $1,646,000 in 2025[19] - The net loss from discontinued operations for the three months ended September 30, 2024, was $2,358,000, compared to a loss of $3,201,000 in 2025, showing an improvement[18] - The net loss before income tax for the nine months ended September 30, 2024, was $6,946,000, compared to $6,137,000 in 2025, indicating a worsening financial position[18] Research and Development - Research and development (R&D) expenses increased to $1.0 million in Q3 2025, up from $0.6 million in Q3 2024, primarily due to higher drug manufacturing and regulatory affairs costs[10] - Research and development expenses for the nine months ended September 30, 2024, were $2,172,000, compared to $2,915,000 in 2025, indicating a decrease of approximately 25.5%[18] - BeyondSpring's lead asset, Plinabulin, is in late-stage clinical development targeting NSCLC and other indications, focusing on immune modulation and tumor resensitization[11] Cash and Assets - Cash and cash equivalents rose significantly to $12.5 million as of September 30, 2025, compared to $2.9 million as of December 31, 2024[10] - Current assets decreased to $11.4 million as of September 30, 2025, down from $25.3 million as of December 31, 2024[10] Operational Efficiency - General and administrative (G&A) expenses decreased to $0.8 million in Q3 2025 from $1.7 million in Q3 2024, reflecting lower consulting and salary expenses[10] - General and administrative expenses decreased to $1,736,000 for the three months ended September 30, 2024, from $751,000 in 2025, reflecting a significant increase in operational efficiency[18] Clinical Outcomes - The disease control rate for Plinabulin in combination with docetaxel and Keytruda was reported at 85% for metastatic NSCLC patients who progressed after PD-1/L1 inhibitors[5] - The median progression-free survival (PFS) for Plinabulin in a Phase 2 study was 7.0 months, with a 12-month overall survival (OS) rate of 79%[6] Equity and Financing - BeyondSpring's equity share in SEED Therapeutics is approximately 38%, with SEED completing a $30 million Series A-3 financing[7]