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BeyondSpring Reports 2024 Year-End Financial Results and Highlights Key Clinical & Strategic Milestones
BYSIBeyondSpring(BYSI) Newsfilter·2025-03-27 11:00

Core Insights - BeyondSpring Inc. reported significant clinical advancements in 2024, particularly for its lead drug Plinabulin, which showed a statistically significant survival benefit in patients with non-small cell lung cancer (NSCLC) [2][3] - The company also highlighted strategic progress for SEED Therapeutics, including a collaboration with Eisai Co., Ltd. that could yield up to 1.5billioninpotentialpayments[2][10]ClinicalDevelopments−PlinabulindemonstratedastatisticallysignificantoverallsurvivalbenefitinaPhase3trialforsecond−andthird−lineNSCLC(EGFRwild−type),withresultspublishedinTheLancetRespiratoryMedicine[3][5]−OngoingPhase2studiesindicatedPlinabulin′spotentialtoresensitizetumorsthathaveprogressedonPD−1/PD−L1inhibitors,showingpromisingefficacyandtolerability[3][9]−SEEDTherapeuticsmadestridesintargetedproteindegradation,securingastrategiccollaborationwithEisaiandadvancingitsleadoncologyasset,RBM39degrader,towardclinicaldevelopment[3][10]FinancialPerformance−FortheyearendedDecember31,2024,thecompanyreportedanetlossof1.5 billion in potential payments [2][10] Clinical Developments - Plinabulin demonstrated a statistically significant overall survival benefit in a Phase 3 trial for second- and third-line NSCLC (EGFR wild-type), with results published in The Lancet Respiratory Medicine [3][5] - Ongoing Phase 2 studies indicated Plinabulin's potential to resensitize tumors that have progressed on PD-1/PD-L1 inhibitors, showing promising efficacy and tolerability [3][9] - SEED Therapeutics made strides in targeted protein degradation, securing a strategic collaboration with Eisai and advancing its lead oncology asset, RBM39 degrader, toward clinical development [3][10] Financial Performance - For the year ended December 31, 2024, the company reported a net loss of 16.7 million, a decrease from a net loss of 21.9millionin2023[17][18]−Researchanddevelopmentexpenseswere21.9 million in 2023 [17][18] - Research and development expenses were 2.6 million, down from 7.3millionin2023,reflectingthecompletionofcertainstudies[10]−AsofDecember31,2024,thecompanyhadcashandcashequivalentsof7.3 million in 2023, reflecting the completion of certain studies [10] - As of December 31, 2024, the company had cash and cash equivalents of 2.9 million, with total current assets amounting to $28.6 million [15][16] Strategic Collaborations - SEED Therapeutics entered into a research collaboration with Eisai, which includes potential milestone payments and tiered royalties on net sales [10] - The collaboration with Eli Lilly and the recognition of SEED as a leader in targeted protein degradation further solidify its position in the biotech industry [10][12] Future Milestones - Key upcoming milestones include updated data from ongoing Phase 2 studies in metastatic NSCLC and extensive-stage small-cell lung cancer (ES-SCLC) expected in 2025 [10][18] - The expected IND filing for the RBM39 degrader is anticipated in mid-2025, with patient enrollment expected to begin in the second half of 2025 [10][18]