Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2019 | |
Document Information [Line Items] | |
Entity Registrant Name | BeyondSpring Inc. |
Entity Central Index Key | 0001677940 |
Current Fiscal Year End Date | --12-31 |
Document Type | 6-K |
Document Period End Date | Mar. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q1 |
Amendment Flag | false |
Audited Consolidated Balance Sh
Audited Consolidated Balance Sheet as of December 31, 2018 and Unaudited Interim Condensed Consolidated Balance Sheet as of March 31, 2019 - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash | $ 1,961 | $ 3,889 |
Advances to suppliers | 1,066 | 1,209 |
Due from related parties | 381 | 481 |
Prepaid expenses and other current assets | 150 | 292 |
Total current assets | 3,558 | 5,871 |
Noncurrent assets: | ||
Property and equipment, net | 263 | 282 |
Operating lease right-of-use asset | 3,054 | |
Other noncurrent asset | 970 | 910 |
Total noncurrent assets | 4,287 | 1,192 |
Total assets | 7,845 | 7,063 |
Current liabilities: | ||
Accounts payable | 8,966 | 9,586 |
Accrued expenses | 7,872 | 5,495 |
Due to related parties | 350 | |
Current portion of operating lease liabilities | 686 | |
Other current liabilities | 1,596 | 1,364 |
Total current liabilities | 19,470 | 16,445 |
Noncurrent liabilities: | ||
Long-term loans | 2,980 | |
Operating lease liabilities | 2,427 | |
Total noncurrent liabilities | 5,407 | |
Total liabilities | 24,877 | 16,445 |
Equity (deficit): | ||
Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 23,184,612 shares issued and outstanding as of December 31, 2018 and March 31, 2019, respectively) | 2 | 2 |
Additional paid-in capital | 171,321 | 170,950 |
Accumulated deficit | (186,053) | (178,760) |
Accumulated other comprehensive gain (loss) | (111) | 42 |
Total BeyondSpring Inc.’s shareholder’s deficit | (14,841) | (7,766) |
Noncontrolling interests | (2,191) | (1,616) |
Total deficit | (17,032) | (9,382) |
Total liabilities and deficit | $ 7,845 | $ 7,063 |
Audited Consolidated Balance _2
Audited Consolidated Balance Sheet as of December 31, 2018 and Unaudited Interim Condensed Consolidated Balance Sheet as of March 31, 2019 (Parentheticals) - $ / shares | Mar. 31, 2019 | Dec. 31, 2018 |
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 | 23,184,612 |
Ordinary shares, outstanding (in shares) | 23,184,612 | 23,184,612 |
Unaudited Interim Condensed Con
Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2018 and 2019 - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue | $ 0 | |
Operating expenses: | ||
Research and development | (6,330) | (14,074) |
Selling, general and administrative | (1,639) | (728) |
Loss from operations | (7,969) | (14,802) |
Foreign exchange gain, net | 173 | 332 |
Interest income | 6 | 73 |
Interest expense | (37) | |
Other income | 316 | |
Loss before income tax | (7,827) | (14,081) |
Income tax benefit | 0 | 0 |
Net loss | (7,827) | (14,081) |
Less: Net loss attributable to noncontrolling interests | (534) | (425) |
Net loss attributable to BeyondSpring Inc. | $ (7,293) | $ (13,656) |
Net loss per share | ||
Basic and diluted (in dollars per share) | $ (0.32) | $ (0.61) |
Weighted-average shares outstanding | ||
Basic and diluted (in shares) | 23,029,362 | 22,211,762 |
Other comprehensive loss | ||
Foreign currency translation adjustment loss | $ (194) | $ (65) |
Comprehensive loss | (8,021) | (14,146) |
Less: Comprehensive loss attributable to noncontrolling interests | (575) | (394) |
Comprehensive loss attributable to BeyondSpring Inc. | $ (7,446) | $ (13,752) |
Unaudited Interim Condensed C_2
Unaudited Interim Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2018 and 2019 - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Operating activities: | ||
Net loss | $ (7,827) | $ (14,081) |
Adjustments to reconcile net loss to net cash from operating activities: | ||
Share-based compensation | 371 | 4,201 |
Depreciation expenses | 23 | 12 |
Changes in operating assets and liabilities: | ||
Advances to suppliers | 143 | 61 |
Government grants | (307) | |
Due from related parties | 100 | |
Prepaid expenses and other current assets | 123 | (20) |
Operating lease right-of-use assets | 134 | |
Other noncurrent assets | (60) | (122) |
Accounts payable | (620) | 1,010 |
Accrued expenses | 2,377 | 305 |
Operating lease liabilities | (56) | |
Other current liabilities | 232 | 2 |
Net cash used in operating activities | (5,060) | (8,939) |
Investing activities: | ||
Acquisitions of property and equipment | (4) | (13) |
Net cash used in investing activities | (4) | (13) |
Financing activities: | ||
Proceeds from loans | 2,986 | |
Loans from related parties | 350 | |
Net cash provided by financing activities | 3,336 | |
Effect of foreign exchange rate changes, net | (200) | (179) |
Net decrease in cash | (1,928) | (9,131) |
Cash at beginning of period | 3,889 | 27,481 |
Cash at end of period | $ 1,961 | $ 18,350 |
Note 1 - Nature of the Business
Note 1 - Nature of the Business and Basis of Preparation | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Nature of the business and basis of preparation BeyondSpring Inc. (the “Company”) was incorporated in the Cayman Islands on November 21, 2014. As at March 31, 2019, Name of company Place of incorporation Date of incorporation Percentage of ownership by the Company Principal activities BeyondSpring Delaware, BeyondSpring Ltd. The British Virgin Islands (“BVI”) December 3, 2014 100% Holding company BeyondSpring (HK) Limited Hong Kong January 13, 2015 100% Holding company Wanchun Biotechnology Wanchun Biotechnology The People’s Republic of China Dalian Wanchunbulin BeyondSpring Pharmaceuticals Beijing Wanchun Pharmaceutical The accompanying unaudited interim condensed consolidated balance sheet as of March 31, 2019, three March 31, 2018 2019, three March 31, 2018 2019, December 31, 2018. not In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all normal recurring adjustments necessary to present fairly the financial position, operating results and cash flows of the Group for each of the periods presented. The results of operations for the three March 31, 2019 not 2019. December 31, 2018 not December 31, 2018. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of significant accounting policies Basis of consolidation The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. 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 7,827 three March 31, 2019 $186,053 March 31, 2019. $5,060 three March 31, 2019, $1,961 $19,470. no The continuing operations of the Company depends 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 Use of estimates The preparation of financial statements in conformity with U.S. 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 reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not 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 $316 RMB2,000 December 2014. August 2015. three March 31, 2018, Fair value measurements The Company applies ASC 820, Fair Value Measurements and Disclosures 820” 820 ASC 820 three • Level 1— • Level 2— • Level 3— no ASC 820 three 1 2 3 Financial instruments of the Company primarily include cash, due from related parties, due to related parties, accounts payable and long-term loans. Except for the long-term loans, the carrying values of these financial instruments approximated their fair value due to their short term nature as of December 31, 2018 March 31, 2019. As of March 31, 2019, 2,980, $2,989. 2 ) Leases The Company determines if an arrangement is a lease at inception. The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component based on the Company’s policy election to combine lease and non-lease components for its leases. Leases are classified as operating or finance leases in accordance with the recognition criteria in ASC 842 20 25. March 31, 2019. not At the commencement date of a lease, the Company determines the classification of the lease based on the relevant factors present and records right-of-use (“ROU”) assets and lease liabilities. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and lease liabilities are calculated as the present value of the lease payments not not not may Operating leases are included in operating lease right-of-use assets and lease liabilities on the condensed consolidated balance sheets. Lease liabilities that become due within one Leases with an initial lease term of 12 not Recent accounting pronouncements New accounting standard which have been implemented In February 2016, No. 2016 2, Leases 2018 1, Land Easement Practical Expedient 2018 10, Codification Improvements to Topic 842, 2016 2; 2018 11, Leases (Topic 842 2018 20, Leases (Topic 842 2019 1, Leases (Topic 842 12 December 15, 2018, not The Company adopted the new standard effective January 1, 2019 not not $3,169, $3,188 $19. not In June 2018, 2018 7, Compensation—Stock Compensation (Topic 718 2018 7” 718 718 December 15, 2018. no Impact of adopted accounting standards The cumulative effect of changes made to the Company’s condensed consolidated balance sheet as of January 1, 2019 Balance at Adjustments Balance at $ $ $ Assets: Prepaid expenses and other current assets 292 (19 ) 273 Operating lease right-of-use assets - 3,188 3,188 Liabilities: Current portion of operating lease liabilities - 605 605 Operating lease liabilities - 2,564 2,564 |
Note 3 - Property and Equipment
Note 3 - Property and Equipment, Net | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. Property and equipment, net Property and equipment consist of the following: December 31, March 31, (Unaudited) Office equipment 143 143 Laboratory equipment 111 115 Motor vehicles 23 23 Leasehold improvements 109 109 386 390 Less: accumulated depreciation (104 ) (127 ) Property and equipment, net 282 263 Depreciation expenses for the three March 31, 2018 2019 $12 $23, |
Note 4 - Long-term Loans
Note 4 - Long-term Loans | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 4. Long-term loans On January 21, 2019, $1,493 RMB10,000 third 15% April 20, 2019, October 20, 2020 April 21, 2019. On March 28, 2019, three $1,493 RMB10,000 120.0% three March 28, 2022. |
Note 5 - Related Party Transact
Note 5 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 5. Related party transactions Loan to a related party In December 2018, $481 $100 February 2019 April 2019. Loan from related parties In March 2019, $350 December 31, 2019. |
Note 6 - Income Taxes
Note 6 - Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. Income taxes There is no three March 31, 2018 2019. The Company recorded a full valuation allowance against deferred tax assets for all periods presented. No |
Note 7 - Equity (Deficit)
Note 7 - Equity (Deficit) | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 7. Equity (deficit) The movement of equity (deficit) is as follows : BeyondSpring Inc.’s shareholders Ordinary share Additional Accumulated Accumulated Non Total Shares Amount capital deficit (loss) gain Subtotal interests (deficit) $ $ $ $ $ $ $ Balances at January 1, 2019 (audited) 23,184,612 2 170,950 (178,760 ) 42 (7,766 ) (1,616 ) (9,382 ) Share-based compensation - - 371 - - 371 - 371 Foreign currency translation adjustment loss - - - - (153 ) (153 ) (41 ) (194 ) Net loss - - - (7,293 ) - (7,293 ) (534 ) (7,827 ) Balances at March 31, 2019 (unaudited) 23,184,612 2 171,321 (186,053 ) (111 ) (14,841 ) (2,191 ) (17,032 ) Balances at January 1, 2018 (audited) 22,530,702 2 151,147 (123,891 ) (182 ) 27,076 960 28,036 Share-based compensation (75,000 ) - 4,199 - - 4,199 2 4,201 Foreign currency translation adjustment gain - - - - (96 ) (96 ) 31 (65 ) Net loss - - - (13,656 ) - (13,656 ) (425 ) (14,081 ) Balances at March 31, 2018 (unaudited) 22,455,702 2 155,346 (137,547 ) (278 ) 17,523 568 18,091 |
Note 8 - Employee Defined Contr
Note 8 - Employee Defined Contribution Plan | 3 Months Ended |
Mar. 31, 2019 | |
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 $12 $15 three March 31, 2018 2019, |
Note 9 - Net Loss Per Share
Note 9 - Net Loss Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 9. Net loss per share Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows: Three months ended March 31, 2018 2019 Numerator: Net loss attributable to BeyondSpring Inc.—basic and diluted (13,656 ) (7,293 ) Denominator: Weighted average number of ordinary shares outstanding —basic and diluted 22,211,762 23,029,362 Net loss per share —basic and diluted (0.61 ) (0.32 ) The effects of restricted shares and share options were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive during the three March 31, 2018 2019. |
Note 10 - Lease
Note 10 - Lease | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. Lease The Company has operating lease for offices in the United States and China with remaining lease term of approximately 4.75 1 not $68 $202 three March 31, 2018 2019, Supplemental balance sheet information related to leases was as follows: As of March 31, $ Operating lease right-of-use asset 3,054 Current portion of operating lease liabilities 686 Operating lease liabilities 2,427 Total lease liabilities 3,113 Maturities of operating lease liabilities are as follows: $ Nine months ending December 31, 2019 668 Year ending December 31, 2020 780 Year ending December 31, 2021 786 Year ending December 31, 2022 789 Year ending December 31, 2023 793 Total lease payments 3,816 Less imputed interest (703 ) Present value of lease liabilities 3,113 Other supplemental information related to leases is summarized below: Three months ended March 31, 2019 $ Operating cash flows used in operating lease 124 As of March 31, Weighted average remaining lease term (years) 4.65 Weighted average discount rate 9.05 % The Company adopted the Lease ASUs effective January 1, 2019 not 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 |
Note 11 - Share-based Compensat
Note 11 - Share-based Compensation | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 11. Share-based compensation The following table summarizes total share-based compensation expense recognized for the three March 31, 2018 2019: Three months ended March 31, 2018 2019 $ $ Research and development 4,873 156 General and administrative (672 ) 215 Total 4,201 371 |
Note 12 - Subsequent Event
Note 12 - Subsequent Event | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 12. Subsequent events On April 26, 2019, $1,000, 15% $1,000 April 2019. On May 21, 2019, $30,000 July 9, 2019, $12,920 In June July 2019, $14,537 RMB100,000 4.76% To date, the above transactions have not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of consolidation The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. |
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 7,827 three March 31, 2019 $186,053 March 31, 2019. $5,060 three March 31, 2019, $1,961 $19,470. no The continuing operations of the Company depends 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 |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with U.S. 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 reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not |
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 $316 RMB2,000 December 2014. August 2015. three March 31, 2018, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value measurements The Company applies ASC 820, Fair Value Measurements and Disclosures ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: • Level 1— Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2— Other inputs that are directly or indirectly observable in the marketplace. • Level 3— Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial instruments of the Company primarily include cash, due from related parties, due to related parties, accounts payable and long-term loans. Except for the long-term loans, the carrying values of these financial instruments approximated their fair value due to their short term nature as of December 31, 2018 and March 31, 2019. As of March 31, 2019, the total carrying amount of long-term loans was $ 2,980, compared with an estimated fair value of $2,989. The fair value of the long-term debt is estimated by discounting cash flows using interest rates currently available for debts with similar terms and maturities (Level 2 fair value measurement). |
Lessee, Leases [Policy Text Block] | Leases The Company determines if an arrangement is a lease at inception. The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component based on the Company’s policy election to combine lease and non-lease components for its leases. Leases are classified as operating or finance leases in accordance with the recognition criteria in ASC 842 20 25. March 31, 2019. not At the commencement date of a lease, the Company determines the classification of the lease based on the relevant factors present and records right-of-use (“ROU”) assets and lease liabilities. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and lease liabilities are calculated as the present value of the lease payments not not not may Operating leases are included in operating lease right-of-use assets and lease liabilities on the condensed consolidated balance sheets. Lease liabilities that become due within one Leases with an initial lease term of 12 not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements New accounting standard which have been implemented In February 2016, No. 2016 2, Leases 2018 1, Land Easement Practical Expedient 2018 10, Codification Improvements to Topic 842, 2016 2; 2018 11, Leases (Topic 842 2018 20, Leases (Topic 842 2019 1, Leases (Topic 842 12 December 15, 2018, not The Company adopted the new standard effective January 1, 2019 not not $3,169, $3,188 $19. not In June 2018, 2018 7, Compensation—Stock Compensation (Topic 718 2018 7” 718 718 December 15, 2018. no Impact of adopted accounting standards The cumulative effect of changes made to the Company’s condensed consolidated balance sheet as of January 1, 2019 Balance at Adjustments Balance at $ $ $ Assets: Prepaid expenses and other current assets 292 (19 ) 273 Operating lease right-of-use assets - 3,188 3,188 Liabilities: Current portion of operating lease liabilities - 605 605 Operating lease liabilities - 2,564 2,564 |
Note 1 - Nature of the Busine_2
Note 1 - Nature of the Business and Basis of Preparation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Subsidiaries [Table Text Block] | Name of company Place of incorporation Date of incorporation Percentage of ownership by the Company Principal activities BeyondSpring Delaware, BeyondSpring Ltd. The British Virgin Islands (“BVI”) December 3, 2014 100% Holding company BeyondSpring (HK) Limited Hong Kong January 13, 2015 100% Holding company Wanchun Biotechnology Wanchun Biotechnology The People’s Republic of China Dalian Wanchunbulin BeyondSpring Pharmaceuticals Beijing Wanchun Pharmaceutical |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Balance at Adjustments Balance at $ $ $ Assets: Prepaid expenses and other current assets 292 (19 ) 273 Operating lease right-of-use assets - 3,188 3,188 Liabilities: Current portion of operating lease liabilities - 605 605 Operating lease liabilities - 2,564 2,564 |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, March 31, (Unaudited) Office equipment 143 143 Laboratory equipment 111 115 Motor vehicles 23 23 Leasehold improvements 109 109 386 390 Less: accumulated depreciation (104 ) (127 ) Property and equipment, net 282 263 |
Note 7 - Equity (Deficit) (Tabl
Note 7 - Equity (Deficit) (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | BeyondSpring Inc.’s shareholders Ordinary share Additional Accumulated Accumulated Non Total Shares Amount capital deficit (loss) gain Subtotal interests (deficit) $ $ $ $ $ $ $ Balances at January 1, 2019 (audited) 23,184,612 2 170,950 (178,760 ) 42 (7,766 ) (1,616 ) (9,382 ) Share-based compensation - - 371 - - 371 - 371 Foreign currency translation adjustment loss - - - - (153 ) (153 ) (41 ) (194 ) Net loss - - - (7,293 ) - (7,293 ) (534 ) (7,827 ) Balances at March 31, 2019 (unaudited) 23,184,612 2 171,321 (186,053 ) (111 ) (14,841 ) (2,191 ) (17,032 ) Balances at January 1, 2018 (audited) 22,530,702 2 151,147 (123,891 ) (182 ) 27,076 960 28,036 Share-based compensation (75,000 ) - 4,199 - - 4,199 2 4,201 Foreign currency translation adjustment gain - - - - (96 ) (96 ) 31 (65 ) Net loss - - - (13,656 ) - (13,656 ) (425 ) (14,081 ) Balances at March 31, 2018 (unaudited) 22,455,702 2 155,346 (137,547 ) (278 ) 17,523 568 18,091 |
Note 9 - Net Loss Per Share (Ta
Note 9 - Net Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, 2018 2019 Numerator: Net loss attributable to BeyondSpring Inc.—basic and diluted (13,656 ) (7,293 ) Denominator: Weighted average number of ordinary shares outstanding —basic and diluted 22,211,762 23,029,362 Net loss per share —basic and diluted (0.61 ) (0.32 ) |
Note 10 - Lease (Tables)
Note 10 - Lease (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Operating Lease, Supplement Balance Sheet Information [Table Text Block] | As of March 31, $ Operating lease right-of-use asset 3,054 Current portion of operating lease liabilities 686 Operating lease liabilities 2,427 Total lease liabilities 3,113 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | $ Nine months ending December 31, 2019 668 Year ending December 31, 2020 780 Year ending December 31, 2021 786 Year ending December 31, 2022 789 Year ending December 31, 2023 793 Total lease payments 3,816 Less imputed interest (703 ) Present value of lease liabilities 3,113 |
Lease, Cost [Table Text Block] | Three months ended March 31, 2019 $ Operating cash flows used in operating lease 124 As of March 31, Weighted average remaining lease term (years) 4.65 Weighted average discount rate 9.05 % |
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 11 - Share-based Compens_2
Note 11 - Share-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended March 31, 2018 2019 $ $ Research and development 4,873 156 General and administrative (672 ) 215 Total 4,201 371 |
Note 1 - Nature of the Busine_3
Note 1 - Nature of the Business and Basis of Preparation - Schedule of Subsidiaries (Details) | Mar. 31, 2019 |
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% |
Wanchun Biotechnology Limited [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 | 3 Months Ended | |||||
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2014CNY (¥) | |
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | (7,827) | (14,081) | ||||
Retained Earnings (Accumulated Deficit), Ending Balance | (186,053) | $ (178,760) | ||||
Net Cash Provided by (Used in) Operating Activities, Total | (5,060) | $ (8,939) | ||||
Cash, Cash Equivalents, and Short-term Investments, Total | 1,961 | |||||
Liabilities, Current, Total | 19,470 | 16,445 | ||||
Long-term Debt, Total | 2,980 | |||||
Long-term Debt, Fair Value | 2,989 | |||||
Operating Lease, Liability, Total | 3,113 | |||||
Operating Lease, Right-of-Use Asset | 3,054 | $ 3,188 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Long-term Debt, Fair Value | $ 0 | |||||
Accounting Standards Update 2016-02 [Member] | ||||||
Operating Lease, Liability, Total | 3,169 | |||||
Operating Lease, Right-of-Use Asset | 3,188 | |||||
Prepaid Rent | $ (19) | |||||
Wanchun Pharma [Member] | ||||||
Government Grants, Current | $ 316 | ¥ 2 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Prepaid expenses and other current assets | $ 150 | $ 273 | $ 292 |
Operating lease right-of-use asset | 3,054 | 3,188 | |
Current portion of operating lease liabilities | 686 | 605 | |
Operating lease liabilities | $ 2,427 | 2,564 | |
Accounting Standards Update 2016-02 [Member] | |||
Prepaid expenses and other current assets | (19) | ||
Operating lease right-of-use asset | 3,188 | ||
Current portion of operating lease liabilities | 605 | ||
Operating lease liabilities | $ 2,564 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Depreciation, Total | $ 23 | $ 12 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Property, plant, and equipment, gross | $ 390 | $ 386 |
Less: accumulated depreciation | (127) | (104) |
Property and equipment, net | 263 | 282 |
Office Equipment [Member] | ||
Property, plant, and equipment, gross | 143 | 143 |
Laboratory Equipment [Member] | ||
Property, plant, and equipment, gross | 115 | 111 |
Automobiles [Member] | ||
Property, plant, and equipment, gross | 23 | 23 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 109 | $ 109 |
Note 4 - Long-term Loans (Detai
Note 4 - Long-term Loans (Details Textual) $ in Thousands, ¥ in Millions | Mar. 28, 2019USD ($) | Mar. 31, 2019USD ($) | Mar. 28, 2019CNY (¥) | Jan. 21, 2019USD ($) | Jan. 21, 2019CNY (¥) |
Long-term Debt, Total | $ 2,980 | ||||
Loan Arrangement with Third Party [Member] | |||||
Long-term Debt, Total | $ 1,493 | ¥ 10 | |||
Debt Instrument, Interest Rate, Stated Percentage | 15.00% | 15.00% | |||
Term Loan [Member] | China Construction Bank [Member] | |||||
Long-term Debt, Total | $ 1,493 | ¥ 10 | |||
Debt Instrument, Interest Rate, Stated Percentage | 120.00% | 120.00% | |||
Debt Instrument, Term | 3 years |
Note 5 - Related Party Transa_2
Note 5 - Related Party Transactions (Details Textual) - Interest Free Loan [Member] - USD ($) $ in Thousands | 1 Months Ended | ||
Feb. 28, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Chief Medical Officer [Member] | |||
Due from Related Parties, Total | $ 481 | ||
Proceeds from Collection of Notes Receivable | $ 100 | ||
Chief Executive Officer, Chief Regulatory Officer, International Finance Manager [Member] | |||
Due to Related Parties, Total | $ 350 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Unrecognized Tax Benefits, Ending Balance | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 |
Note 7 - Equity (Deficit) - Sch
Note 7 - Equity (Deficit) - Schedule of Stockholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Balances | $ (9,382) | $ 28,036 |
Share-based compensation | 371 | |
Foreign currency translation adjustment loss | (194) | (65) |
Net loss | (7,827) | (14,081) |
Share-based compensation | 4,201 | |
Balances | $ (17,032) | $ 18,091 |
Common Stock [Member] | ||
Balances (in shares) | 23,184,612 | 22,530,702 |
Balances | $ 2 | $ 2 |
Share-based compensation | ||
Foreign currency translation adjustment loss | ||
Net loss | ||
Share-based compensation (in shares) | (75,000) | |
Share-based compensation | ||
Balances (in shares) | 23,184,612 | 22,455,702 |
Balances | $ 2 | $ 2 |
Additional Paid-in Capital [Member] | ||
Balances | 170,950 | 151,147 |
Share-based compensation | 371 | |
Foreign currency translation adjustment loss | ||
Net loss | ||
Share-based compensation | 4,199 | |
Balances | 171,321 | 155,346 |
Retained Earnings [Member] | ||
Balances | (178,760) | (123,891) |
Share-based compensation | ||
Foreign currency translation adjustment loss | ||
Net loss | (7,293) | (13,656) |
Share-based compensation | ||
Balances | (186,053) | (137,547) |
AOCI Attributable to Parent [Member] | ||
Balances | 42 | (182) |
Share-based compensation | ||
Foreign currency translation adjustment loss | (153) | (96) |
Net loss | ||
Share-based compensation | ||
Balances | (111) | (278) |
Parent [Member] | ||
Balances | (7,766) | 27,076 |
Share-based compensation | 371 | |
Foreign currency translation adjustment loss | (153) | (96) |
Net loss | (7,293) | (13,656) |
Share-based compensation | 4,199 | |
Balances | (14,841) | 17,523 |
Noncontrolling Interest [Member] | ||
Balances | (1,616) | 960 |
Share-based compensation | ||
Foreign currency translation adjustment loss | (41) | 31 |
Net loss | (534) | (425) |
Share-based compensation | 2 | |
Balances | $ (2,191) | $ 568 |
Note 8 - Employee Defined Con_2
Note 8 - Employee Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Defined Contribution Plan, Cost | $ 15 | $ 12 |
Note 9 - Net Loss Per Share - B
Note 9 - Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Net loss attributable to BeyondSpring Inc.—basic and diluted | $ (7,293) | $ (13,656) | $ (13,656) |
Weighted average number of ordinary shares outstanding —basic and diluted (in shares) | 23,029,362 | 22,211,762 | 22,211,762 |
Net loss per share —basic and diluted (in dollars per share) | $ (0.32) | $ (0.61) | $ (0.61) |
Note 10 - Lease (Details Textua
Note 10 - Lease (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Operating Lease, Expense | $ 202 | $ 68 |
UNITED STATES | ||
Lessee, Operating Lease, Remaining Lease Term | 4 years 273 days | |
CHINA | ||
Lessee, Operating Lease, Remaining Lease Term | 1 year |
Note 10 - Lease - Supplement Ba
Note 10 - Lease - Supplement Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating lease right-of-use asset | $ 3,054 | $ 3,188 | |
Current portion of operating lease liabilities | 686 | 605 | |
Operating lease liabilities | 2,427 | $ 2,564 | |
Total lease liabilities | $ 3,113 |
Note 10 - Lease - Maturities of
Note 10 - Lease - Maturities of Lease Liabilities (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Nine months ending December 31, 2019 | $ 668 |
Year ending December 31, 2020 | 780 |
Year ending December 31, 2021 | 786 |
Year ending December 31, 2022 | 789 |
Year ending December 31, 2023 | 793 |
Total lease payments | 3,816 |
Less imputed interest | (703) |
Present value of lease liabilities | $ 3,113 |
Note 10 - Lease - Operating Lea
Note 10 - Lease - Operating Lease Disclosure (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Operating cash flows used in operating lease | $ 124 |
Weighted average remaining lease term (Year) | 4 years 237 days |
Weighted average discount rate | 9.05% |
Note 10 - Lease - Future Minimu
Note 10 - Lease - 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 - Share-based Compens_3
Note 11 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Allocated Share-based Compensation Expense | $ 371 | $ 4,201 |
Research and Development Expense [Member] | ||
Allocated Share-based Compensation Expense | 156 | 4,873 |
General and Administrative Expense [Member] | ||
Allocated Share-based Compensation Expense | $ 215 | $ (672) |
Note 12 - Subsequent Event (Det
Note 12 - Subsequent Event (Details Textual) - Subsequent Event [Member] $ in Thousands, ¥ in Billions | Jul. 09, 2019USD ($) | May 21, 2019USD ($) | Apr. 30, 2019USD ($) | Jul. 09, 2019USD ($) | Jul. 09, 2019CNY (¥) | Apr. 26, 2019USD ($) |
Wanchunbulin [Member] | ||||||
Proceeds from Noncontrolling Interests | $ 14,537 | ¥ 0.1 | ||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 4.76% | 4.76% | 4.76% | |||
Jefferies [Member] | ||||||
Proceeds from Issuance of Common Stock, Gross | $ 12,920 | |||||
Jefferies [Member] | Maximum [Member] | ||||||
Aggregate Offering Price Sales Agreement | $ 30,000 | |||||
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 |