Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document Information [Line Items] | |
Entity Registrant Name | BeyondSpring Inc. |
Entity Central Index Key | 0001677940 |
Trading Symbol | bysi |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | true |
Entity Common Stock, Shares Outstanding (in shares) | 23,184,612 |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash | $ 3,889 | $ 27,481 |
Short term investment | 3,074 | |
Advances to suppliers | 1,209 | 1,525 |
Due from related parties | 481 | |
Prepaid expenses and other current assets | 292 | 264 |
Total current assets | 5,871 | 32,344 |
Noncurrent assets: | ||
Property and Equipment | 282 | 123 |
Other noncurrent assets | 910 | 361 |
Total noncurrent assets | 1,192 | 484 |
Total assets | 7,063 | 32,828 |
Current liabilities: | ||
Accounts payable | 9,586 | 3,379 |
Government grants | 307 | |
Accrued expenses | 5,495 | 807 |
Other current liabilities | 1,364 | 299 |
Total current liabilities | 16,445 | 4,792 |
Total liabilities | 16,445 | 4,792 |
Commitments and contingencies | ||
Equity (deficit): | ||
Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 22,530,702 shares and 23,184,612 shares issued and outstanding as of December 31, 2017 and 2018, respectively) | 2 | 2 |
Additional paid-in capital | 170,950 | 151,147 |
Accumulated deficit | (178,760) | (123,891) |
Accumulated other comprehensive loss (gain) | 42 | (182) |
Total BeyondSpring Inc. shareholders’ equity (deficit) | (7,766) | 27,076 |
Noncontrolling interests | (1,616) | 960 |
Total equity (deficit) | (9,382) | 28,036 |
Total liabilities and equity (deficit) | $ 7,063 | $ 32,828 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Ordinary shares, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Ordinary shares, authorized (in shares) | 500,000,000 | 500,000,000 |
Ordinary shares, issued (in shares) | 23,184,612 | 22,530,702 |
Ordinary shares, outstanding (in shares) | 23,184,612 | 22,530,702 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue | $ 0 | $ 0 | |
Operating expenses: | |||
Research and development, including patent cost of $42,259 for the year ended December 31, 2017 | (51,618) | (88,928) | (10,437) |
Selling, general and administrative | (5,927) | (9,053) | (1,931) |
Loss from operations | (57,545) | (97,981) | (12,368) |
Foreign exchange (loss) gain, net | (455) | 555 | (195) |
Interest income | 211 | 120 | 18 |
Other income | 315 | 918 | |
Net loss before income tax | (57,474) | (96,388) | (12,545) |
Income tax benefit | |||
Net loss | (57,474) | (96,388) | (12,545) |
Less: Net loss attributable to noncontrolling interests | (2,605) | (4,625) | (535) |
Net loss attributable to BeyondSpring Inc. | $ (54,869) | $ (91,763) | $ (12,010) |
Net loss per share | |||
Basic and diluted (in dollars per share) | $ (2.42) | $ (4.40) | $ (0.75) |
Weighted average shares outstanding | |||
Basic and diluted (in shares) | 22,665,265 | 20,866,084 | 16,086,419 |
Other comprehensive loss | |||
Foreign currency translation adjustment (loss) gain | $ 251 | $ (1) | $ (64) |
Total comprehensive loss | (57,223) | (96,389) | (12,609) |
Less: Comprehensive loss attributable to noncontrolling interests | (2,578) | (4,535) | (561) |
Comprehensive loss attributable to BeyondSpring Inc. | $ (54,645) | $ (91,854) | $ (12,048) |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Loss (Parentheticals) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Research and development expense, patent cost | $ 42,259 | $ 42,259 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Deficit) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balances (in shares) at Dec. 31, 2015 | 15,750,000 | ||||||
Balances at Dec. 31, 2015 | $ 2 | $ 29,119 | $ (20,118) | $ (53) | $ 8,950 | $ 708 | $ 9,658 |
Issuance of ordinary shares (Note 1) (in shares) | 1,129,628 | ||||||
Issuance of ordinary shares (Note 1) | 15,250 | 15,250 | 15,250 | ||||
Foreign currency translation adjustment (loss) gain | (38) | (38) | (26) | (64) | |||
Net loss | (12,010) | (12,010) | (535) | (12,545) | |||
Balances (in shares) at Dec. 31, 2016 | 16,879,628 | ||||||
Balances at Dec. 31, 2016 | $ 2 | 44,369 | (32,128) | (91) | 12,152 | 147 | 12,299 |
Issuance of ordinary shares (Note 1) (in shares) | 4,828,297 | ||||||
Issuance of ordinary shares (Note 1) | 89,443 | 89,443 | 89,443 | ||||
Foreign currency translation adjustment (loss) gain | (91) | (91) | 90 | (1) | |||
Net loss | (91,763) | (91,763) | (4,625) | (96,388) | |||
Effect of capital contribution to a subsidiary | (1,480) | (1,480) | 1,480 | ||||
Share-based compensation (Note 7) (in shares) | 822,777 | ||||||
Share-based compensation (Note 7) | 18,815 | 18,815 | 3,868 | 22,683 | |||
Balances (in shares) at Dec. 31, 2017 | 22,530,702 | ||||||
Balances at Dec. 31, 2017 | $ 2 | 151,147 | (123,891) | (182) | 27,076 | 960 | 28,036 |
Issuance of ordinary shares (Note 1) (in shares) | 739,095 | ||||||
Issuance of ordinary shares (Note 1) | 13,245 | 13,245 | 13,245 | ||||
Foreign currency translation adjustment (loss) gain | 224 | 224 | 27 | 251 | |||
Net loss | (54,869) | (54,869) | (2,605) | (57,474) | |||
Share-based compensation (Note 7) (in shares) | (85,185) | ||||||
Share-based compensation (Note 7) | 6,558 | 6,558 | 2 | 6,560 | |||
Balances (in shares) at Dec. 31, 2018 | 23,184,612 | ||||||
Balances at Dec. 31, 2018 | $ 2 | $ 170,950 | $ (178,760) | $ 42 | $ (7,766) | $ (1,616) | $ (9,382) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | |||
Net loss | $ (57,474,000) | $ (96,388,000) | $ (12,545,000) |
Adjustments to reconcile net loss to cash used in operating activities: | |||
Depreciation expenses | 48,000 | 32,000 | 18,000 |
Share-based compensation | 6,560,000 | 22,683,000 | |
Research and development expense, patent cost | 42,259,000 | ||
Other income from government grant | (307,000) | ||
Changes in assets and liabilities: | |||
Advances to suppliers | 316,000 | (726,000) | (710,000) |
Due from related parties | (481,000) | ||
Prepaid expenses and other current assets | (28,000) | 96,000 | (334,000) |
Other noncurrent assets | (549,000) | (240,000) | (121,000) |
Accounts payable | 6,207,000 | 2,935,000 | 144,000 |
Due to related parties | (210,000) | (222,000) | |
Accrued expenses | 4,688,000 | 699,000 | (102,000) |
Other current liabilities | 1,065,000 | 64,000 | 174,000 |
Net cash used in operating activities | (39,955,000) | (28,796,000) | (13,698,000) |
Cash flows from investing activities: | |||
Acquisitions of property and equipment | (207,000) | (76,000) | (64,000) |
Purchase of short-term investments | (3,074,000) | ||
Proceeds from maturity of short-term investments | 3,074,000 | ||
Net cash (used in) provided by investing activities | 2,867,000 | (3,150,000) | (64,000) |
Cash flows from financing activities: | |||
Proceeds from issuance of ordinary shares | 14,000,000 | 50,505,000 | 15,250,000 |
Net cash provided by financing activities | 13,245,000 | 47,722,000 | 14,713,000 |
Effect of foreign exchange rate changes | 251,000 | 18,000 | (85,000) |
Net increase (decrease) in cash and cash equivalents | (23,592,000) | 15,794,000 | 866,000 |
Cash at beginning of year | 27,481,000 | 11,687,000 | 10,821,000 |
Cash at end of year | 3,889,000 | 27,481,000 | 11,687,000 |
Non-cash activities: | |||
Initial public offering costs accrued in accrued expenses | 1,324,000 | ||
Research and development expense, patent cost | 42,259,000 | ||
IPO [Member] | |||
Cash flows from financing activities: | |||
Payments of shares offering costs | $ (755,000) | $ (2,783,000) | $ (537,000) |
Note 1 - Nature of the Business
Note 1 - Nature of the Business | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Nature of the business BeyondSpring Inc. (the “Company”) was incorporated in the Cayman Islands on November 21, 2014. In September 2016, 1,129,628 third $15,250 $13.5 On March 14, 2017, 174,286 $20.00 2,541,048 $47,184. 2,112,963 10 In May 2018, third 739,095 $0.0001 $20,000 $27.06 $14,000 $13,245 On May 21, 2018, As at December 31, 2018, Name of company Place of incorporation Date of Percentage of Principal activities BeyondSpring Pharmaceuticals Inc. Delaware, June 18, 2013 100% Clinical trial activities BeyondSpring Ltd. The British Virgin Islands (“BVI”) December 3, 2014 100% Holding company BeyondSpring (HK) Limited Wanchun Biotechnology Limited Wanchun Biotechnology Dalian Wanchunbulin BeyondSpring Pharmaceuticals Beijing Wanchun Pharmaceutical |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of significant accounting policies Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Going concern According to Accounting Standards Codification (“ASC”) 205 40, Presentation of Financial Statements - Going Concern 205 40” one not not 1 one 2 one The Company has incurred operating losses and negative cash flows from operations since inception. To date, the Company has no $57,474 2018 $178,760 December 31, 2018. $39,955 2018. December 31, 2018, $3,889 $16,445. no The continuing operations of the Company is depending upon the Company’s ability to obtain necessary financing to fund its working capital requirement. These financial statements have been prepared in accordance with U.S. GAAP, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. These financial statements do not In order to enable the Company to operate as a going concern in the foreseeable future, the Company will need, among other things, additional capital resources. There can be no may Basics of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period. Areas where management uses subjective judgment include, but are not Research and development (“R&D”) costs The Company accounts for R&D costs in accordance with ASC 730, Research and Development The costs incurred relate to nonrefundable advance payments for goods or services that will be used in future research and development activities are deferred and capitalized. The capitalized amounts are expensed as R&D costs when the related goods are delivered or the services are performed, or when the Company does not Research contract costs and accruals The Company has entered into various research and development contracts with research institutions and other companies primarily in the PRC, the United States, and Australia. Related payments are recorded as research and development expenses as incurred. The Company records accruals for estimated ongoing research costs. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the studies, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. The Company’s historical accrual estimates have not Foreign currency translation and transactions Functional currency The Company currently uses U.S. dollar as the functional currency for all its entities, except for entities in the PRC, which adopt RMB as the functional currency, and BeyondSpring Australia, which adopts the Australian dollar as the functional currency. The determination of the respective functional currency is based on the criteria of ASC 830, Foreign Currency Matters Foreign currency translation For subsidiaries whose functional currencies are not Cash Cash consist of cash on hand and bank deposits. As of December 31, 2017 2018, no Short-term investments All liquid investments with an original maturity greater than three one December 31, 2017, one $3,074 RMB20,000 Advances to suppliers Advances to suppliers consist of cash to contractors and vendors for services and materials that have not December 31, 2017 2018, no Leases Leases are classified at the inception date as either a capital lease or an operating lease. The Company assesses a lease to be a capital lease if any of the following conditions exist: (a) ownership is transferred to the lessee by the end of the lease term, (b) there is a bargain purchase option, (c) the lease term is at least 75% 90% no All other leases are accounted for as operating leases wherein rental payments are expensed on a straight-line basis over the periods of their respective lease terms. The Company leases office space under operating lease agreements. The lease term begins on the date of initial possession of the lease property for purposes of recognizing lease expense on straight-line basis over the term of the lease. Government grants Government grants relating to assets are recognized in the consolidated balance sheets upon receipt and amortized as other income over the weighted average useful life of the related assets. Government grants relating to income that involves no Government grants for Dalian Wanchun Pharmaceutical Co., Ltd. (“Wanchun Pharma”) amounting to $316 RMB2,000 December 2014. August 2015. January 2018, 2018. The Company received government grants of $914 December 31, 2017. Property and equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets as follows: Category Estimated useful life Office equipment (years) 5 Laboratory equipment 2 - 5 Motor vehicles 10 Leasehold improvements Lower of lease term or economic life Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterment that extends the useful lives of plant and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the assets and accumulated depreciation accounts with any resulting gain or loss reflected in the consolidated statements of comprehensive loss. Impairment of long-lived assets Long-lived assets are reviewed for impairment in accordance with authoritative guidance for impairment or disposal of long-lived assets. Long-lived assets are reviewed for events or changes in circumstances, which indicate that their carrying value may not December 31, 2018, 2017 2016, not Fair value measurements Financial instruments of the Company primarily include cash, short-term investments, amounts due from related parties and accounts payable. As of December 31, 2017 2018, The Company applies ASC 820, Fair Value Measurements and Disclosures 820” 820 ASC 820 three • Level 1—Observable • Level 2 • Level 3—Unobservable no ASC 820 three 1 2 3 Segment information The Company’s chief operating decision maker, the Chief Executive Officer, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Company as a whole and hence in accordance with ASC 280, Segment Reporting one not The Company had no December 31, 2017 2018 PRC 90 73 U.S. 30 208 Australia 3 1 Total 123 282 Comprehensive income (loss) Comprehensive loss is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. For each of the periods presented, the Company’s comprehensive loss includes net loss and foreign currency translation adjustments. Income taxes The Company uses the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of assets and liabilities and are measured using enacted tax rates that will be in effect when the differences are expected to reverse. A valuation allowance is provided when it is more likely than not not In accordance with Accounting Standards Update (“ASU”) No. 2015 17, Income Taxes (Topic 740 The Company evaluates its uncertain tax positions using the provisions of ASC 740, Income Taxes, not” fifty Share-based compensation Awards granted to employees The Company applies ASC 718, Compensation—Stock Compensation 718” 718, Awards granted to non-employees The Company has accounted for equity instruments issued to non-employees in accordance with the provisions of ASC 718 505, Equity no 505 50, Equity-based Payments to Non-Employees Modification of awards A change in the terms or conditions of the awards is accounted for as a modification of the award. Incremental compensation cost is measured as the excess, if any, of the fair value of the modified award over the fair value of the original award immediately before its terms are modified, measured based on the fair value of the awards and other pertinent factors at the modification date. For vested awards, the Company recognizes incremental compensation cost in the period the modification occurs. For unvested awards, the Company recognizes over the remaining requisite service period, the sum of the incremental compensation cost and the remaining unrecognized compensation cost for the original award on the modification date. If the fair value of the modified award is lower than the fair value of the original award immediately before modification, the minimum compensation cost the Company recognizes is the cost of the original award. There were no December 31, 2018 2017. Loss per share Loss per share is calculated in accordance with ASC 260, Earnings per Share Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of the ordinary shares issuable upon the conversion of the share options and the vesting of restricted shares, using the treasury stock method. Ordinary share equivalents are excluded from the computation of diluted loss per share if their effects would be anti-dilutive. Basic and diluted loss per ordinary share is presented in the Company’s consolidated statements of comprehensive loss. Concentration of credit risk Concentration of credit risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash. The Company’s cash is held at financial institutions that management believes to be of high credit quality. The Company has not not Business, customer, political, social and economic risks The Company participates in a dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position, results of operations or cash flows: changes in the overall demand for services and products; competitive pressures due to new entrants; advances and new trends in new technologies and industry standards; changes in clinical research organizations; changes in certain strategic relationships or customer relationships; regulatory considerations; copyright regulations; and risks associated with the Company’s ability to attract employees necessary to support its growth. The Company’s operations could be also adversely affected by significant political, economic and social uncertainties in the PRC. Business risk The Company relies on third third not may not Currency convertibility risk The Company incurs portions of expenses in currencies other than the U.S. dollars, in particular, the RMB. On January 1, 1994, not may Additionally, the value of the RMB is subject to changes in central government policies and international economic and political developments affecting supply and demand in the PRC foreign exchange trading system market. Foreign currency exchange rate risk From July 21, 2005, 5.7% December 31, 2018, 6.5% December 31, 2017 6.3% December 31, 2016. may To the extent that the Company needs to convert U.S. dollar into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends on ordinary shares, strategic acquisitions or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Company. In addition, a significant depreciation of the RMB against the U.S. dollar may Recent accounting pronouncements In February 2016, No. 2016 2, Leases 842 2016 02" 12 December 15, 2018, January 1, 2019 not not not In June 2018, 2018 7, Compensation—Stock Compensation (Topic 718 2018 7” 718 718 December 15, 2018. no 606. In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13” December 15, 2019, |
Note 3 - Property and Equipment
Note 3 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. Property and equipment, net Property and equipment consisted of the following: December 31, 2017 2018 Office equipment 39 143 Laboratory equipment 104 111 Motor vehicles 23 23 Leasehold improvements 13 109 179 386 Less: accumulated depreciation (56 ) (104 ) Property and equipment, net 123 282 Depreciation expenses for the years ended December 31, 2016, 2017 2018 $18, $32 $48, |
Note 4 - Related Party Transact
Note 4 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 4. Related party transactions In addition to transactions disclosed elsewhere in the consolidated financial statements, the related party transactions for the years presented were as follows: Dr. Lan Huang Dr. Lan Huang provided consulting services to BeyondSpring US at a fee of $75, nil nil December 31, 2016, 2017 2018 Wanchun Biotech as a noncontrolling shareholder On November 28, 2016 January 13, 2017, December 31, 2016, 2017, 2018, $110 RMB754 $547 RMB3,770 nil third Dr. Ramon Mohanlal, the Chief Medical Officer In December 2018, $481 April 2019. |
Note 5 - Income Taxes
Note 5 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 5. Income taxes Cayman Islands The Company is incorporated in the Cayman Islands, and is not British Virgin Islands BeyondSpring Ltd. and BVI Biotech are incorporated in the British Virgin Islands, and are not U.S. BeyondSpring US is incorporated in Delaware, the U.S. It is subject to statutory U.S. Federal corporate income tax at a rate of 21% December 31, 2018, 35% December 31, 2017 2016. no no In December 2017, “2017 2017 35% 21% December 31, 2017. Australia BeyondSpring Australia incorporated in Australia is subject to corporate income tax at a rate of 30%. no no Hong Kong BeyondSpring HK is in incorporated in Hong Kong. Companies registered in Hong Kong are subject to Hong Kong Profits Tax on the taxable income as reported in their respective statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate is 16.5% no no PRC Wanchun Shenzhen, Wanchunbulin and Beijing Wanchun are subject to the statutory tax rate of 25% January 1, 2008. The components of losses before income taxes are as follows: Year Ended December 31, 2016 2017 2018 Cayman Islands 894 2,045 3,305 U.S. 9,840 80,008 23,347 PRC 1,338 11,341 6,742 BVI - 2,498 22,979 Australia 473 496 1,101 Net loss before income taxes 12,545 96,388 57,474 There were no A reconciliation of the differences between income tax benefits and the amounts computed by applying the U.S. Federal corporate income tax rate of 35% 2016 2017, 21% 2018 Year Ended December 31, 2016 2017 2018 Net loss before income taxes 12,545 96,388 57,474 Expected income tax benefit 4,391 33,736 12,069 Tax rate differential 581 5,796 (2,121 ) Non-deductible expenses (152 ) (25,299 ) (880 ) Deemed disposal gain* - (10,506 ) - Impact of U.S. statutory tax rate change - (2,943 ) - Non-taxable income - 227 75 Others (63 ) 74 (143 ) Change in valuation allowance (4,757 ) (1,085 ) (9,000 ) Total income tax benefit - - - *Arose from intragroup transfer of certain intellectual property rights. Net deferred tax assets as of December 31, 2017 2018 December 31, 2017 2018 Deferred tax assets: Net operating loss carryforward 7,244 13,403 Intangible asset 329 191 Deferral of tax deduction of R&D expense 1,239 2,891 Share based compensation 1,427 2,754 Less: valuation allowance (10,239 ) (19,239 ) Net deferred tax assets - - Valuation allowances have been provided on the deferred tax assets where, based on all available evidence, it was considered more likely than not not As of December 31, 2018, $38,938 $688, December 31, 2017, 80% 2017 not 20 5 $688 2023 not As of December 31, 2017 2018, no no not 12 The Company’s subsidiaries in the U.S., Australian and PRC filed income tax returns in the U.S., Australia and PRC, respectively. An entity in the U.S. is subject to U.S. federal and state income tax examination by tax authorities for tax years beginning in 2014. 2016. 2015 |
Note 6 - Net Loss Per Share
Note 6 - Net Loss Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 6. Net loss per share Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows: Year Ended December 31, 2016 2017 2018 Numerator: Net loss attributable to BeyondSpring Inc.—basic and diluted $ (12,010 ) $ (91,763 ) $ (54, 869 ) Denominator: Weighted average number of ordinary shares outstanding basic and diluted 16,086,419 20,866,084 22,665,265 Net loss per share—basic and diluted $ (0.75 ) $ (4.40 ) $ (2.42 ) The effects of all share options and unvested restricted shares were excluded from the calculation of diluted loss per share as their effect would have been anti-dilutive during the years ended December 31, 2016, 2017 2018. |
Note 7 - Share Based Compensati
Note 7 - Share Based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 7. Share based compensation General On February 24, 2017, 2017 “2017 March 9, 2017, 2017 2,137,037 During 2017, 1,141,477 2017 318,700 2017. 2018, 9,815 2017 During 2017, 600,000 2017 none December 31, 2018. During 2017, 343,000 US$29.00 2018, 130,000 US$25.08 10 Restricted shares The following table summarizes the Company’s employee restricted share activities under the 2017 Number Weighted average $ Outstanding at December 31, 2016 - - Granted 1,141,477 20.76 Vested (434,615 ) 22.19 Forfeited (318,700 ) 19.80 Outstanding at December 31, 2017 388,162 19.93 Granted 9,815 19.50 Vested (147,727 ) 19.88 Forfeited (95,000 ) 19.96 Outstanding at December 31, 2018 155,250 19.94 Expected to vest at December 31, 2018 125,250 19.97 As of December 31, 2018, $1,635. 3.4 Share options The following table summarizes the Company’s share option activities under the 2017 Numbers Weighted Weighted Weighted Average $ $ Years $ Outstanding at December 31, 2016 - - Granted 343,000 29.00 19.91 Outstanding at December 31, 2017 343,000 29.00 9.98 27 Granted 130,000 25.08 14.49 Forfeited 7,100 29.00 19.91 Outstanding at December 31, 2018 465,900 27.91 9.12 - Exercisable as of December 31, 2018 335,900 29.00 8.98 - Vested and expected to vest at December 31, 2018 441,400 28.00 9.11 - As of December 31, 2018, 441,400 $1,066. 1.65 Fair value of options The Black-Scholes-Merton formula was applied in determining the estimated fair value of the options granted. The model requires the input of highly subjective assumptions including the estimated expected share price volatility and the expected terms of awards. These estimates involve inherent risk and uncertainties and the application of management's judgment. The Company historically has limited available historical data to demonstrate consistent early exercise behavior. To determine the expected term of the awards, the Company applied a simplified method considering factors including the timing of achieving various performance conditions and their respective probabilities as well as the contractual life of the options. The risk-free interest rates for the periods within the expected term of the option are based on the U.S. Treasury rate. The Company historically has been a private company and lack company-specific historical and implied volatility information, therefore, the Company estimates the expected volatility based on the historical volatility of a group of similar companies, which are publicly-traded. The Company’s management was ultimately responsible for the determination of the estimated fair value of its share options. The following table presents the assumptions used to estimate the fair values of the share options granted for the years ended December 31, 2017 2018: December 31, 2017 2018 Fair value of ordinary share 34.00 24.87 ~ 26.09 Risk-free interest rate 2.28 % 2.73% ~ 2.89% Expected term (years) 5.5 5.9 ~ 6.2 Expected volatility 60 % 60% Expected dividend yield 0 % 0% Contractual life (years) 10 10 The following table summarizes total share-based compensation expense recognized for the year ended December 31, 2017 2018: December 31, 2017 2018 Research and development 17,753 6,821 General and administrative 4,930 (261 ) Total 22,683 6,560 |
Note 8 - Employee Defined Contr
Note 8 - Employee Defined Contribution Plan | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 8. Employee defined contribution plan Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the Company’s PRC subsidiaries make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The Company has no $22, $38 $54 December 31, 2016, 2017 2018, |
Note 9 - Restricted Net Assets
Note 9 - Restricted Net Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | 9. Restricted net assets The Company’s ability to pay dividends may In accordance with the PRC Regulations on Enterprises with Foreign Investment and their articles of association, a foreign invested enterprise established in the PRC is required to provide certain statutory reserves, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A foreign invested enterprise is required to allocate at least 10% 50% not Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide statutory common reserve of at least 10% 50% not Foreign exchange and other regulations in the PRC further restrict the Company’s PRC subsidiaries from transferring funds to the Company in the form of loans, advances or cash dividends. As of December 31, 2017 2018, $2,399 $nil, |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 10. Commitments and contingencies Operating lease commitments The Company has several operating leases, primarily for offices. Payments under operating leases are expensed on a straight-line basis over the periods of their respective leases, and the terms of the leases do not Rental expenses incurred under the operating leases for the years ended December 31, 2016, 2017 2018 $136, $200 $548 The following table summarizes the future minimum lease payments under the operating lease as of December 31, 2018: $ Year ending December 31, 2019 792 Year ending December 31, 2020 798 Year ending December 31, 2021 786 Year ending December 31, 2022 789 Year ending December 31, 2023 793 Total 3,958 Royalty payment As part of the consideration to the seller for acquiring the worldwide patent of Plinabulin excluding the PRC and Hong Kong, Wanchun Biotech was required to pay royalties on a quarterly basis equal to 20% first ten On February 2, 2015, three 10% March 2017, 2,112,963 $42,259, $20 |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 11. Subsequent events On January 21, 2019, $2,986 RMB20,000 third 15%, April 20, 2019, $1,493 RMB10,000 October 20, 2020 On March 28, 2019, three $1,493 RMB10,000 5.7%, On April 26, 2019, $1,000 15%, $1,000 April 2019. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). |
Going Concern, Policy [Policy Text Block} | Going concern According to Accounting Standards Codification (“ASC”) 205 40, Presentation of Financial Statements - Going Concern 205 40” one not not 1 one 2 one The Company has incurred operating losses and negative cash flows from operations since inception. To date, the Company has no $57,474 2018 $178,760 December 31, 2018. $39,955 2018. December 31, 2018, $3,889 $16,445. no The continuing operations of the Company is depending upon the Company’s ability to obtain necessary financing to fund its working capital requirement. These financial statements have been prepared in accordance with U.S. GAAP, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. These financial statements do not In order to enable the Company to operate as a going concern in the foreseeable future, the Company will need, among other things, additional capital resources. There can be no may |
Consolidation, Policy [Policy Text Block] | Basics of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period. Areas where management uses subjective judgment include, but are not |
Research and Development Expense, Policy [Policy Text Block] | Research and development (“R&D”) costs The Company accounts for R&D costs in accordance with ASC 730, Research and Development The costs incurred relate to nonrefundable advance payments for goods or services that will be used in future research and development activities are deferred and capitalized. The capitalized amounts are expensed as R&D costs when the related goods are delivered or the services are performed, or when the Company does not |
Research Contract Costs and Accruals [Policy Text Block] | Research contract costs and accruals The Company has entered into various research and development contracts with research institutions and other companies primarily in the PRC, the United States, and Australia. Related payments are recorded as research and development expenses as incurred. The Company records accruals for estimated ongoing research costs. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the studies, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. The Company’s historical accrual estimates have not |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign currency translation and transactions Functional currency The Company currently uses U.S. dollar as the functional currency for all its entities, except for entities in the PRC, which adopt RMB as the functional currency, and BeyondSpring Australia, which adopts the Australian dollar as the functional currency. The determination of the respective functional currency is based on the criteria of ASC 830, Foreign Currency Matters Foreign currency translation For subsidiaries whose functional currencies are not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Cash consist of cash on hand and bank deposits. As of December 31, 2017 2018, no |
Investment, Policy [Policy Text Block] | Short-term investments All liquid investments with an original maturity greater than three one December 31, 2017, one $3,074 RMB20,000 |
Advances to Suppliers [Policy Text Block] | Advances to suppliers Advances to suppliers consist of cash to contractors and vendors for services and materials that have not December 31, 2017 2018, no |
Lessee, Leases [Policy Text Block] | Leases Leases are classified at the inception date as either a capital lease or an operating lease. The Company assesses a lease to be a capital lease if any of the following conditions exist: (a) ownership is transferred to the lessee by the end of the lease term, (b) there is a bargain purchase option, (c) the lease term is at least 75% 90% no All other leases are accounted for as operating leases wherein rental payments are expensed on a straight-line basis over the periods of their respective lease terms. The Company leases office space under operating lease agreements. The lease term begins on the date of initial possession of the lease property for purposes of recognizing lease expense on straight-line basis over the term of the lease. |
Government Grants [Policy Text Block] | Government grants Government grants relating to assets are recognized in the consolidated balance sheets upon receipt and amortized as other income over the weighted average useful life of the related assets. Government grants relating to income that involves no Government grants for Dalian Wanchun Pharmaceutical Co., Ltd. (“Wanchun Pharma”) amounting to $316 RMB2,000 December 2014. August 2015. January 2018, 2018. The Company received government grants of $914 December 31, 2017. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets as follows: Category Estimated useful life Office equipment (years) 5 Laboratory equipment 2 - 5 Motor vehicles 10 Leasehold improvements Lower of lease term or economic life Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterment that extends the useful lives of plant and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the assets and accumulated depreciation accounts with any resulting gain or loss reflected in the consolidated statements of comprehensive loss. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of long-lived assets Long-lived assets are reviewed for impairment in accordance with authoritative guidance for impairment or disposal of long-lived assets. Long-lived assets are reviewed for events or changes in circumstances, which indicate that their carrying value may not December 31, 2018, 2017 2016, not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value measurements Financial instruments of the Company primarily include cash, short-term investments, amounts due from related parties and accounts payable. As of December 31, 2017 2018, The Company applies ASC 820, Fair Value Measurements and Disclosures 820” 820 ASC 820 three • Level 1—Observable • Level 2 • Level 3—Unobservable no ASC 820 three 1 2 3 |
Segment Reporting, Policy [Policy Text Block] | Segment information The Company’s chief operating decision maker, the Chief Executive Officer, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Company as a whole and hence in accordance with ASC 280, Segment Reporting one not The Company had no December 31, 2017 2018 PRC 90 73 U.S. 30 208 Australia 3 1 Total 123 282 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive income (loss) Comprehensive loss is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. For each of the periods presented, the Company’s comprehensive loss includes net loss and foreign currency translation adjustments. |
Income Tax, Policy [Policy Text Block] | Income taxes The Company uses the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of assets and liabilities and are measured using enacted tax rates that will be in effect when the differences are expected to reverse. A valuation allowance is provided when it is more likely than not not In accordance with Accounting Standards Update (“ASU”) No. 2015 17, Income Taxes (Topic 740 The Company evaluates its uncertain tax positions using the provisions of ASC 740, Income Taxes, not” fifty |
Share-based Payment Arrangement [Policy Text Block] | Share-based compensation Awards granted to employees The Company applies ASC 718, Compensation—Stock Compensation 718” 718, Awards granted to non-employees The Company has accounted for equity instruments issued to non-employees in accordance with the provisions of ASC 718 505, Equity no 505 50, Equity-based Payments to Non-Employees Modification of awards A change in the terms or conditions of the awards is accounted for as a modification of the award. Incremental compensation cost is measured as the excess, if any, of the fair value of the modified award over the fair value of the original award immediately before its terms are modified, measured based on the fair value of the awards and other pertinent factors at the modification date. For vested awards, the Company recognizes incremental compensation cost in the period the modification occurs. For unvested awards, the Company recognizes over the remaining requisite service period, the sum of the incremental compensation cost and the remaining unrecognized compensation cost for the original award on the modification date. If the fair value of the modified award is lower than the fair value of the original award immediately before modification, the minimum compensation cost the Company recognizes is the cost of the original award. There were no December 31, 2018 2017. |
Earnings Per Share, Policy [Policy Text Block] | Loss per share Loss per share is calculated in accordance with ASC 260, Earnings per Share Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of the ordinary shares issuable upon the conversion of the share options and the vesting of restricted shares, using the treasury stock method. Ordinary share equivalents are excluded from the computation of diluted loss per share if their effects would be anti-dilutive. Basic and diluted loss per ordinary share is presented in the Company’s consolidated statements of comprehensive loss. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of credit risk Concentration of credit risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash. The Company’s cash is held at financial institutions that management believes to be of high credit quality. The Company has not not Business, customer, political, social and economic risks The Company participates in a dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position, results of operations or cash flows: changes in the overall demand for services and products; competitive pressures due to new entrants; advances and new trends in new technologies and industry standards; changes in clinical research organizations; changes in certain strategic relationships or customer relationships; regulatory considerations; copyright regulations; and risks associated with the Company’s ability to attract employees necessary to support its growth. The Company’s operations could be also adversely affected by significant political, economic and social uncertainties in the PRC. Business risk The Company relies on third third not may not Currency convertibility risk The Company incurs portions of expenses in currencies other than the U.S. dollars, in particular, the RMB. On January 1, 1994, not may Additionally, the value of the RMB is subject to changes in central government policies and international economic and political developments affecting supply and demand in the PRC foreign exchange trading system market. Foreign currency exchange rate risk From July 21, 2005, 5.7% December 31, 2018, 6.5% December 31, 2017 6.3% December 31, 2016. may To the extent that the Company needs to convert U.S. dollar into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends on ordinary shares, strategic acquisitions or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Company. In addition, a significant depreciation of the RMB against the U.S. dollar may |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements In February 2016, No. 2016 2, Leases 842 2016 02" 12 December 15, 2018, January 1, 2019 not not not In June 2018, 2018 7, Compensation—Stock Compensation (Topic 718 2018 7” 718 718 December 15, 2018. no 606. In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13” December 15, 2019, |
Note 1 - Nature of the Busine_2
Note 1 - Nature of the Business (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Subsidiaries [Table Text Block] | Name of company Place of incorporation Date of Percentage of Principal activities BeyondSpring Pharmaceuticals Inc. Delaware, June 18, 2013 100% Clinical trial activities BeyondSpring Ltd. The British Virgin Islands (“BVI”) December 3, 2014 100% Holding company BeyondSpring (HK) Limited Wanchun Biotechnology Limited Wanchun Biotechnology Dalian Wanchunbulin BeyondSpring Pharmaceuticals Beijing Wanchun Pharmaceutical |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant, and Equipment, Useful Life [Table Text Block] | Category Estimated useful life Office equipment (years) 5 Laboratory equipment 2 - 5 Motor vehicles 10 Leasehold improvements Lower of lease term or economic life |
Property, Plant and Equipment, Location [Table Text Block] | December 31, 2017 2018 PRC 90 73 U.S. 30 208 Australia 3 1 Total 123 282 |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2017 2018 Office equipment 39 143 Laboratory equipment 104 111 Motor vehicles 23 23 Leasehold improvements 13 109 179 386 Less: accumulated depreciation (56 ) (104 ) Property and equipment, net 123 282 |
Note 5 - Income Taxes (Tables)
Note 5 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, 2016 2017 2018 Cayman Islands 894 2,045 3,305 U.S. 9,840 80,008 23,347 PRC 1,338 11,341 6,742 BVI - 2,498 22,979 Australia 473 496 1,101 Net loss before income taxes 12,545 96,388 57,474 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2016 2017 2018 Net loss before income taxes 12,545 96,388 57,474 Expected income tax benefit 4,391 33,736 12,069 Tax rate differential 581 5,796 (2,121 ) Non-deductible expenses (152 ) (25,299 ) (880 ) Deemed disposal gain* - (10,506 ) - Impact of U.S. statutory tax rate change - (2,943 ) - Non-taxable income - 227 75 Others (63 ) 74 (143 ) Change in valuation allowance (4,757 ) (1,085 ) (9,000 ) Total income tax benefit - - - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2017 2018 Deferred tax assets: Net operating loss carryforward 7,244 13,403 Intangible asset 329 191 Deferral of tax deduction of R&D expense 1,239 2,891 Share based compensation 1,427 2,754 Less: valuation allowance (10,239 ) (19,239 ) Net deferred tax assets - - |
Note 6 - Net Loss Per Share (Ta
Note 6 - Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2016 2017 2018 Numerator: Net loss attributable to BeyondSpring Inc.—basic and diluted $ (12,010 ) $ (91,763 ) $ (54, 869 ) Denominator: Weighted average number of ordinary shares outstanding basic and diluted 16,086,419 20,866,084 22,665,265 Net loss per share—basic and diluted $ (0.75 ) $ (4.40 ) $ (2.42 ) |
Note 7 - Share Based Compensa_2
Note 7 - Share Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Number Weighted average $ Outstanding at December 31, 2016 - - Granted 1,141,477 20.76 Vested (434,615 ) 22.19 Forfeited (318,700 ) 19.80 Outstanding at December 31, 2017 388,162 19.93 Granted 9,815 19.50 Vested (147,727 ) 19.88 Forfeited (95,000 ) 19.96 Outstanding at December 31, 2018 155,250 19.94 Expected to vest at December 31, 2018 125,250 19.97 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Numbers Weighted Weighted Weighted Average $ $ Years $ Outstanding at December 31, 2016 - - Granted 343,000 29.00 19.91 Outstanding at December 31, 2017 343,000 29.00 9.98 27 Granted 130,000 25.08 14.49 Forfeited 7,100 29.00 19.91 Outstanding at December 31, 2018 465,900 27.91 9.12 - Exercisable as of December 31, 2018 335,900 29.00 8.98 - Vested and expected to vest at December 31, 2018 441,400 28.00 9.11 - |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | December 31, 2017 2018 Fair value of ordinary share 34.00 24.87 ~ 26.09 Risk-free interest rate 2.28 % 2.73% ~ 2.89% Expected term (years) 5.5 5.9 ~ 6.2 Expected volatility 60 % 60% Expected dividend yield 0 % 0% Contractual life (years) 10 10 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | December 31, 2017 2018 Research and development 17,753 6,821 General and administrative 4,930 (261 ) Total 22,683 6,560 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | $ Year ending December 31, 2019 792 Year ending December 31, 2020 798 Year ending December 31, 2021 786 Year ending December 31, 2022 789 Year ending December 31, 2023 793 Total 3,958 |
Note 1 - Nature of the Busine_3
Note 1 - Nature of the Business (Details Textual) - USD ($) | Mar. 14, 2017 | May 31, 2018 | Mar. 31, 2017 | Sep. 30, 2016 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Stock Issued During Period, Value, New Issues | $ 13,245,000 | $ 89,443,000 | $ 15,250,000 | |||||
Shares Issued, Price Per Share | $ 20 | |||||||
Proceeds from Issuance of Common Stock | $ 14,000,000 | $ 14,000,000 | $ 50,505,000 | $ 15,250,000 | ||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||
Proceeds from Issuance of Common Stock, Net | $ 13,245,000 | |||||||
Sale to Third-party Investors [Member] | ||||||||
Stock Issued During Period, Shares, New Issues | 1,129,628 | |||||||
Stock Issued During Period, Value, New Issues | $ 15,250 | |||||||
Shares Issued, Price Per Share | $ 13.50 | |||||||
IPO [Member] | ||||||||
Stock Issued During Period, Shares, New Issues | 174,286 | |||||||
Shares Issued, Price Per Share | $ 20 | |||||||
Proceeds from Issuance of Common Stock | $ 47,184,000 | |||||||
Private Placement [Member] | ||||||||
Stock Issued During Period, Shares, New Issues | 2,541,048 | 739,095 | ||||||
Shares Issued, Price Per Share | $ 27.06 | |||||||
Proceeds from Issuance of Common Stock | $ 20,000,000 | |||||||
Private Placement [Member] | Nereus Trust [Member] | ||||||||
Stock Issued in Lieu of Royalty Payments | 2,112,963 | 2,112,963 |
Note 1 - Nature of the Busine_4
Note 1 - Nature of the Business - Schedule of Subsidiaries (Details) | Dec. 31, 2018 |
BeyondSpring Pharmaceuticals Inc. [Member] | |
Equity method investment, ownership percentage | 100.00% |
BeyondSpring Ltd. [Member] | |
Equity method investment, ownership percentage | 100.00% |
BeyondSpring HK [Member] | |
Equity method investment, ownership percentage | 100.00% |
BVI Biotech [Member] | |
Equity method investment, ownership percentage | 100.00% |
Wanchun Biotechnology (Shenzhen) Ltd. [Member] | |
Equity method investment, ownership percentage | 100.00% |
Dalian Wanchunbulin Pharmaceuticals Ltd. (“Wanchunbulin”) [Member] | |
Equity method investment, ownership percentage | 60.00% |
BeyondSpring Pharmaceuticals Australia PTY Ltd. (“BeyondSpring Australia”) [Member] | |
Equity method investment, ownership percentage | 100.00% |
Beijing Wanchun Pharmaceutical Technology Ltd. [Member] | |
Equity method investment, ownership percentage | 60.00% |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands, ¥ in Millions | 12 Months Ended | |||||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2017CNY (¥) | Dec. 31, 2014USD ($) | Dec. 31, 2014CNY (¥) | |
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | $ 0 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | (57,474) | (96,388) | (12,545) | |||
Retained Earnings (Accumulated Deficit), Ending Balance | (178,760) | (123,891) | ||||
Net Cash Provided by (Used in) Operating Activities, Total | (39,955) | (28,796) | $ (13,698) | |||
Cash, Cash Equivalents, and Short-term Investments, Total | 3,889 | |||||
Liabilities, Current, Total | 16,445 | 4,792 | ||||
Cash Equivalents, at Carrying Value, Total | 0 | 0 | ||||
Short-term Investments, Total | 3,074 | |||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 0 | 0 | ||||
Capital Lease Obligations, Total | 0 | |||||
Government Grants, Current | $ 307 | |||||
Number of Reportable Segments | 1 | |||||
Depreciation of RMB Against U.S. Dollar, Percent | 5.70% | 6.50% | 6.30% | |||
Other Income [Member] | Grant [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 914 | |||||
Wanchun Pharma [Member] | ||||||
Government Grants, Current | $ 316 | ¥ 2 | ||||
Bank Time Deposits [Member] | ||||||
Short-term Investments, Maturity | 1 year | |||||
Short-term Investments, Total | $ 3,074 | ¥ 20 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Useful Life of Property, Plant, and Equipment (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Office Equipment [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Laboratory Equipment [Member] | Minimum [Member] | |
Property, plant, and equipment, useful life (Year) | 2 years |
Laboratory Equipment [Member] | Maximum [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Automobiles [Member] | |
Property, plant, and equipment, useful life (Year) | 10 years |
Leasehold Improvements [Member] | |
Property, plant, and equipment, useful life | Lower of lease term or economic life |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Property and Equipment by Geographical Location (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property and Equipment | $ 282 | $ 123 |
CHINA | ||
Property and Equipment | 73 | 90 |
UNITED STATES | ||
Property and Equipment | 208 | 30 |
AUSTRALIA | ||
Property and Equipment | $ 1 | $ 3 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Depreciation, Total | $ 48 | $ 32 | $ 18 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, plant, and equipment, gross | $ 386 | $ 179 |
Less: accumulated depreciation | (104) | (56) |
Property and equipment, net | 282 | 123 |
Office Equipment [Member] | ||
Property, plant, and equipment, gross | 143 | 39 |
Laboratory Equipment [Member] | ||
Property, plant, and equipment, gross | 111 | 104 |
Automobiles [Member] | ||
Property, plant, and equipment, gross | 23 | 23 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 109 | $ 13 |
Note 4 - Related Party Transa_2
Note 4 - Related Party Transactions (Details Textual) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016USD ($) | Dec. 31, 2016CNY (¥) | |
Wanchun Biotech [Member] | Wanchunbulin [Member] | |||||
Related Party Transaction, Purchases from Related Party | $ 547 | $ 110 | ¥ 754 | ||
Dr. Lan Huang [Member] | |||||
Due to Related Parties, Total | $ 481 | ||||
Dr. Lan Huang [Member] | Payment for Consulting Services [Member] | |||||
Related Party Transaction, Amounts of Transaction | 0 | $ 0 | $ 75 | ||
Wanchun Biotech [Member] | Wanchunbulin [Member] | |||||
Related Party Transaction, Purchases from Related Party | $ 0 | ¥ 3,770 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 35.00% |
Foreign Tax Authority [Member] | Australian Taxation Office [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent, Foreign | 30.00% | ||
Foreign Tax Authority [Member] | Inland Revenue, Hong Kong [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent, Foreign | 16.50% | ||
Foreign Tax Authority [Member] | State Administration of Taxation, China [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent, Foreign | 25.00% | ||
Operating Loss Carryforwards, Total | $ 688 | ||
Operating Loss Carryforwards, Term | 5 years | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards, Total | $ 38,938 | ||
Operating Loss Carryforwards, Term | 20 years |
Note 5 - Income Taxes - Compone
Note 5 - Income Taxes - Components of Losses Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net loss before income taxes | $ 57,474 | $ 96,388 | $ 12,545 |
CAYMAN ISLANDS | |||
Net loss before income taxes | 3,305 | 2,045 | 894 |
UNITED STATES | |||
Net loss before income taxes | 23,347 | 80,008 | 9,840 |
CHINA | |||
Net loss before income taxes | 6,742 | 11,341 | 1,338 |
VIRGIN ISLANDS, BRITISH | |||
Net loss before income taxes | 22,979 | 2,498 | |
AUSTRALIA | |||
Net loss before income taxes | $ 1,101 | $ 496 | $ 473 |
Note 5 - Income Taxes - Reconci
Note 5 - Income Taxes - Reconciliation of Income Tax Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Net loss before income taxes | $ 57,474 | $ 96,388 | $ 12,545 | |
Expected income tax benefit | 12,069 | 33,736 | 4,391 | |
Tax rate differential | (2,121) | 5,796 | 581 | |
Non-deductible expenses | (880) | (25,299) | (152) | |
Deemed disposal gain* | [1] | (10,506) | ||
Impact of U.S. statutory tax rate change | (2,943) | |||
Non-taxable income | 75 | 227 | ||
Others | (143) | 74 | (63) | |
Change in valuation allowance | (9,000) | (1,085) | (4,757) | |
Total income tax benefit | ||||
[1] | Arose from intragroup transfer of certain intellectual property rights. |
Note 5 - Income Taxes - Deferre
Note 5 - Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Net operating loss carryforward | $ 13,403 | $ 7,244 |
Intangible asset | 191 | 329 |
Deferral of tax deduction of R&D expense | 2,891 | 1,239 |
Share based compensation | 2,754 | 1,427 |
Less: valuation allowance | (19,239) | (10,239) |
Net deferred tax assets |
Note 6 - Net Loss Per Share - B
Note 6 - Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net loss attributable to BeyondSpring Inc.—basic and diluted | $ (54,869) | $ (91,763) | $ (12,010) |
Weighted average number of ordinary shares outstanding basic and diluted (in shares) | 22,665,265 | 20,866,084 | 16,086,419 |
Net loss per share—basic and diluted (in dollars per share) | $ (2.42) | $ (4.40) | $ (0.75) |
Note 7 - Share Based Compensa_3
Note 7 - Share Based Compensation (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 09, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,815 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 95,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 130,000 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 25.08 | |||
Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | 10 years | ||
The 2017 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,137,037 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 343,000 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 29 | |||
The 2017 Omnibus Incentive Plan [Member] | Chief Medical Officer [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 600,000 | |||
The 2017 Omnibus Incentive Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,815 | 1,141,477 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 318,700 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,635 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years 146 days | |||
The 2017 Omnibus Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance | 441,400 | 343,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,066 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 237 days | |||
The 2017 Omnibus Incentive Plan [Member] | Nonqualified Share Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance | 130,000 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 25.08 | $ 29 |
Note 7 - Share-based Compensati
Note 7 - Share-based Compensation - Restricted Share Activities (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Granted, number of shares (in shares) | 9,815 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 19.50 | |
Vested, number of shares (in shares) | (147,727) | |
Vested, weighted average grant date fair value (in dollars per share) | $ 19.88 | |
Forfeited, number of shares (in shares) | (95,000) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 19.96 | |
Outstanding, number of shares (in shares) | 155,250 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 19.94 | |
Restricted Stock [Member] | The 2017 Omnibus Incentive Plan [Member] | ||
Outstanding, number of shares (in shares) | 388,162 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 19.93 | |
Granted, number of shares (in shares) | 9,815 | 1,141,477 |
Granted, weighted average grant date fair value (in dollars per share) | $ 20.76 | |
Vested, number of shares (in shares) | (434,615) | |
Vested, weighted average grant date fair value (in dollars per share) | $ 22.19 | |
Forfeited, number of shares (in shares) | (318,700) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 19.80 | |
Outstanding, number of shares (in shares) | 388,162 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 19.93 | |
Expected to vest, number of shares (in shares) | 125,250 | |
Expected to vest, weighted average grant date fair value (in dollars per share) | $ 19.97 |
Note 7 - Share-based Compensa_2
Note 7 - Share-based Compensation - Options Activities (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 130,000 | |
Granted, weighted average exercise price (in dollars per share) | $ 25.08 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 14.49 | |
Outstanding, weighted average remaining contractual term (Year) | 9 years 43 days | |
Forfeited, number of options (in shares) | 7,100 | |
Forfeited, weighted average exercise price (in dollars per share) | $ 29 | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 19.91 | |
Outstanding, number of options (in shares) | 465,900 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 27.91 | |
The 2017 Omnibus Incentive Plan [Member] | ||
Outstanding, number of options (in shares) | 343,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 29 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 343,000 | |
Granted, weighted average exercise price (in dollars per share) | $ 29 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 19.91 | |
Outstanding, weighted average remaining contractual term (Year) | 9 years 357 days | |
Outstanding, average intrinsic value | $ 27 | |
Outstanding, number of options (in shares) | 343,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 29 | |
Exercisable, number of options (in shares) | 335,900 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 29 | |
Exercisable, weighted average remaining contractual term (Year) | 8 years 357 days | |
Vested and expected to vest, number of options (in shares) | 441,400 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 28 | |
Vested and expected to vest, weighted average remaining contractual term (Year) | 9 years 40 days | |
Vested and expected to vest, average intrinsic value |
Note 7 - Share-based Compensa_3
Note 7 - Share-based Compensation - Fair Value Assumptions (Details) - Share-based Payment Arrangement, Option [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair value of ordinary share (in dollars per share) | $ 34 | |
Risk-free interest rate | 2.28% | |
Expected term (years) (Year) | 5 years 182 days | |
Expected volatility | 60.00% | 60.00% |
Expected dividend yield | 0.00% | 0.00% |
Contractual life (years) (Year) | 10 years | 10 years |
Minimum [Member] | ||
Fair value of ordinary share (in dollars per share) | $ 24.87 | |
Risk-free interest rate | 2.73% | |
Expected term (years) (Year) | 5 years 328 days | |
Maximum [Member] | ||
Fair value of ordinary share (in dollars per share) | $ 26.09 | |
Risk-free interest rate | 2.89% | |
Expected term (years) (Year) | 6 years 73 days |
Note 7 - Share-based Compensa_4
Note 7 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Allocated Share-based Compensation Expense | $ 6,560 | $ 22,683 |
Research and Development Expense [Member] | ||
Allocated Share-based Compensation Expense | 6,821 | 17,753 |
General and Administrative Expense [Member] | ||
Allocated Share-based Compensation Expense | $ (261) | $ 4,930 |
Note 8 - Employee Defined Con_2
Note 8 - Employee Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Contribution Plan, Cost | $ 54 | $ 38 | $ 22 |
Note 9 - Restricted Net Assets
Note 9 - Restricted Net Assets (Details Textual) $ in Thousands | Dec. 31, 2017USD ($) |
The Company's PRC Subsidiaries [Member] | |
Restricted Net Assets | $ 2,399 |
Note 10 - Commitments and Con_3
Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 14, 2017 | Feb. 02, 2015 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | May 31, 2018 |
Operating Leases, Rent Expense, Net, Total | $ 548 | $ 200 | $ 136 | ||||
Research and Development Expenses Settled by Shares Issuance | $ 42,259 | $ 42,259 | |||||
Shares Issued, Price Per Share | $ 20 | ||||||
Private Placement [Member] | |||||||
Shares Issued, Price Per Share | $ 27.06 | ||||||
Private Placement [Member] | Nereus Trust [Member] | |||||||
Stock Issued in Lieu of Royalty Payments | 2,112,963 | 2,112,963 | |||||
Wanchun Biotech [Member] | |||||||
Quarterly Royalty Payments Required As a Percentage of Gross Proceeds on Sale of Product | 20.00% | ||||||
Term of Royalty Payments | 10 years | ||||||
Wanchun Biotech and Fortis Advisors LLC [Member] | |||||||
Period Following Royalty Termination Agreement, Requirement to Issue Shares | 3 years | ||||||
Percentage of Fully-diluted Equity Capitalization Required to Be Issued As Shares in Lieu of Royalty Payments | 10.00% |
Note 10 - Commitments and Con_4
Note 10 - Commitments and Contingencies - Future Minimum Lease Payments Under Operating Lease (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Year ending December 31, 2019 | $ 792 |
Year ending December 31, 2020 | 798 |
Year ending December 31, 2021 | 786 |
Year ending December 31, 2022 | 789 |
Year ending December 31, 2023 | 793 |
Total | $ 3,958 |
Note 11 - Subsequent Events (De
Note 11 - Subsequent Events (Details Textual) - Subsequent Event [Member] $ in Thousands, ¥ in Millions | Apr. 20, 2019USD ($) | Apr. 20, 2019CNY (¥) | Mar. 28, 2019USD ($) | Apr. 29, 2019USD ($) | Apr. 26, 2019USD ($) | Mar. 28, 2019CNY (¥) | Jan. 21, 2019USD ($) | Jan. 21, 2019CNY (¥) |
Debt Guaranteed by Founder [Member] | ||||||||
Debt Instrument, Face Amount | $ 2,986 | ¥ 20 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 15.00% | 15.00% | ||||||
Proceeds from Notes Payable, Total | $ 1,493 | ¥ 10 | ||||||
Debt Guaranteed by Founder [Member] | Shenzhen Sangel Zhichuang Investment Co Ltd [Member] | ||||||||
Debt Instrument, Face Amount | $ 1,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 15.00% | |||||||
Proceeds from Issuance of Debt | $ 1,000 | |||||||
Term Loan [Member] | ||||||||
Debt Instrument, Term | 3 years | |||||||
Term Loan [Member] | China Construction Bank [Member] | ||||||||
Debt Instrument, Face Amount | $ 1,493 | ¥ 10 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | 5.70% |