Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2020 | |
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 | Sep. 30, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | false |
Audited Consolidated Balance Sh
Audited Consolidated Balance Sheet as of December 31, 2019 and Unaudited Interim Condensed Consolidated Balance Sheet as of September 30, 2020 - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 30,874 | $ 35,933 |
Advances to suppliers | 4,328 | 4,519 |
Prepaid expenses and other current assets | 485 | 410 |
Total current assets | 35,687 | 40,862 |
Noncurrent assets: | ||
Property and equipment, net | 189 | 209 |
Operating lease right-of-use assets | 2,340 | 2,538 |
Other noncurrent assets | 1,180 | 946 |
Total noncurrent assets | 3,709 | 3,693 |
Total assets | 39,396 | 44,555 |
Current liabilities: | ||
Accounts payable | 2,191 | 2,537 |
Accrued expenses | 8,380 | 5,861 |
Due to related parties | 29 | |
Current portion of operating lease liabilities | 697 | 537 |
Other current liabilities | 1,551 | 1,089 |
Total current liabilities | 12,819 | 10,053 |
Noncurrent liabilities: | ||
Long-term loans | 2,108 | 1,436 |
Operating lease liabilities | 1,546 | 1,935 |
Total noncurrent liabilities | 3,654 | 3,371 |
Total liabilities | 16,473 | 13,424 |
Equity: | ||
Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 27,885,613 and 30,516,401 shares issued and outstanding as of December 31, 2019 and September 30, 2020, respectively) | 3 | 3 |
Additional paid-in capital | 284,310 | 246,979 |
Accumulated deficit | (260,222) | (216,845) |
Accumulated other comprehensive income (loss) | (47) | 140 |
Total BeyondSpring Inc.’s shareholders’ equity | 24,044 | 30,277 |
Noncontrolling interests | (1,121) | 854 |
Total equity | 22,923 | 31,131 |
Total liabilities and equity | $ 39,396 | $ 44,555 |
Audited Consolidated Balance _2
Audited Consolidated Balance Sheet as of December 31, 2019 and Unaudited Interim Condensed Consolidated Balance Sheet as of September 30, 2020 (Parentheticals) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
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) | 30,516,401 | 27,885,613 |
Ordinary shares, outstanding (in shares) | 30,516,401 | 27,885,613 |
Unaudited Interim Condensed Con
Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss for the Three and Nine Months Ended September 30, 2019 and 2020 - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue | $ 0 | |||
Operating expenses | ||||
Research and development | (8,637) | (7,230) | (33,369) | (18,762) |
General and administrative | (6,710) | (2,474) | (12,227) | (6,260) |
Loss from operations | (15,347) | (9,704) | (45,596) | (25,022) |
Foreign exchange (loss) gain, net | 174 | (131) | 109 | (127) |
Interest expense | (21) | (46) | (63) | (186) |
Interest income | 10 | 57 | 102 | 64 |
Other income | 3 | |||
Loss before income tax | (15,184) | (9,824) | (45,445) | (25,271) |
Income tax benefit | 0 | 0 | 0 | 0 |
Net loss | (15,184) | (9,824) | (45,445) | (25,271) |
Less: Net loss attributable to noncontrolling interests | (644) | (457) | (2,068) | (1,259) |
Net loss attributable to BeyondSpring Inc. | $ (14,540) | $ (9,367) | $ (43,377) | $ (24,012) |
Net loss per share | ||||
Basic and diluted (in dollars per share) | $ (0.48) | $ (0.37) | $ (1.51) | $ (1.01) |
Weighted-average shares outstanding | ||||
Basic and diluted (in shares) | 30,303,093 | 25,309,776 | 28,658,215 | 23,819,453 |
Other comprehensive loss, net of tax of nil: | ||||
Foreign currency translation adjustment gain (loss) | $ (277) | $ 113 | $ (226) | $ 144 |
Comprehensive loss | (15,461) | (9,711) | (45,671) | (25,127) |
Less: Comprehensive loss attributable to noncontrolling interests | (677) | (494) | (2,107) | (1,298) |
Comprehensive loss attributable to BeyondSpring Inc. | $ (14,784) | $ (9,217) | $ (43,564) | $ (23,829) |
Unaudited Interim Condensed C_2
Unaudited Interim Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2019 and 2020 - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Operating activities: | ||
Net loss | $ (45,445) | $ (25,271) |
Adjustments to reconcile net loss to net cash from operating activities: | ||
Share-based compensation | 6,082 | 1,750 |
Depreciation expenses | 54 | 61 |
Non-cash operating lease expense | 457 | 379 |
Changes in operating assets and liabilities: | ||
Advances to suppliers | 191 | (3,992) |
Due from related parties | 481 | |
Prepaid expenses and other current assets | (75) | (89) |
Other noncurrent assets | (234) | (68) |
Accounts payable | (346) | (7,638) |
Accrued expenses | 2,519 | (705) |
Operating lease liabilities | (488) | (431) |
Other current liabilities | 502 | 43 |
Net cash used in operating activities | (36,783) | (35,480) |
Investing activities: | ||
Acquisitions of property and equipment | (34) | (4) |
Net cash used in investing activities | (34) | (4) |
Financing activities: | ||
Proceeds from issuance of ordinary shares, net of underwriting discounts and commissions | 31,933 | 44,957 |
Capital contributions from noncontrolling interests | 10,083 | |
Payments of offering costs | (594) | (318) |
Proceeds from loans | 635 | 2,986 |
Proceeds from related party borrowings | 32 | 3,328 |
Repayment of loans | (1,493) | |
Repayment of related party borrowings | (61) | (3,328) |
Net cash provided by financing activities | 31,945 | 56,215 |
Effect of foreign exchange rate changes, net | (187) | 58 |
Net increase/(decrease) in cash and cash equivalents | (5,059) | 20,789 |
Cash and cash equivalents at beginning of period | 35,933 | 3,889 |
Cash and cash equivalents at end of period | 30,874 | 24,678 |
Supplemental disclosures | ||
Interest paid | 60 | 83 |
Non-cash activities: | ||
Operating right-of-use assets obtained in exchange for operating lease liabilities | $ 259 |
Note 1 - Nature of the Business
Note 1 - Nature of the Business and Basis of Preparation | 9 Months Ended |
Sep. 30, 2020 | |
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. On May 21, 2019, September 30, 2020, $13,185 630,228 In June 2020, 2,219,500 $13.0 $28,854. On June 18, 2020, 384,615 $13.0 $5,000 July 2020. As of September 30, 2020, Name of company Place of incorporation Date of Percentage of Principal BeyondSpring Pharmaceuticals Inc. (“BeyondSpring US”) Delaware, United States of America (“U.S.”) June 18, 2013 100% Clinical trial activities BeyondSpring Ltd. The British Virgin Islands (“BVI”) December 3, 2014 100% Holding company BeyondSpring (HK) Limited (“BeyondSpring HK”) Hong Kong January 13, 2015 100% Holding company Wanchun Biotechnology Limited (“BVI Biotech”) BVI April 1, 2015 100% Holding company Wanchun Biotechnology (Shenzhen) Ltd. (“Wanchun Shenzhen”) The People's Republic of China (“PRC”) April 23, 2015 100% Holding company Dalian Wanchunbulin Pharmaceuticals Ltd. (“Wanchunbulin”) PRC May 6, 2015 57.97% Clinical trial activities BeyondSpring Pharmaceuticals Australia PTY Ltd. (“BeyondSpring Australia”) Australia March 3, 2016 100% Clinical trial activities Beijing Wanchun Pharmaceutical Technology Ltd. (“Beijing Wanchun”) PRC May 21, 2018 57.97% Clinical trial activities SEED Therapeutics Inc. (“SEED”) BVI June 25, 2019 100% Pre-clinical development activities SEED Technology Limited (“SEED Technology”) BVI December 9, 2019 57.97% Holding company The accompanying unaudited interim condensed consolidated balance sheet as of September 30, 2020, three nine September 30, 2019 2020, nine September 30, 2019 2020, December 31, 2019. 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 Company for each of the periods presented. The results of operations for the three nine September 30, 2020 not 2020. December 31, 2019 not December 31, 2019. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
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 $45,445 nine September 30, 2020 $260,222 September 30, 2020. $36,783 nine September 30, 2020. September 30, 2020, $22,868 $30,874 The Company is implementing a cost reduction plan, which includes the deferral of certain research, development and clinical projects and reduction of administrative expenses until it obtains additional financings. With the implementation of the cost reduction plan, the Company anticipates that its current financial resources will enable it to meet its operational expense and capital expenditure needs into the fourth 2021. Therefore, the management believes that the substantial doubt about the Company's ability to continue as a going concern within one 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 Fair value measurements The Company measures certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three • Level 1— • Level 2— • Level 3— no ASC 820, Fair Value Measurements and Disclosures 820” three 1 2 3 Financial instruments of the Company primarily include cash, 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, 2019 September 30, 2020. As of December 31, 2019 September 30, 2020, $1,436 $2,108, $1,373 $2,002, 2 Recent accounting pronouncements New accounting standard that have not In December 2019, 2019 12, Income Taxes (Topic 740 Simplifying the Accounting for Income Taxes 740, December 15, 2020, |
Note 3 - Property and Equipment
Note 3 - Property and Equipment, Net | 9 Months Ended |
Sep. 30, 2020 | |
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, September 30, 2019 2020 $ $ (Unaudited) Office equipment 150 170 Laboratory equipment 114 116 Motor vehicles 23 23 Leasehold improvements 103 115 390 424 Less: accumulated depreciation (181 ) (235 ) Property and equipment, net 209 189 Depreciation expenses for the three nine September 30, 2019 $21 $61, three nine September 30, 2020 $22 $54, |
Note 4 - Long-term Loans
Note 4 - Long-term Loans | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 4. Long-term loans On March 28, 2019, three $1,493 RMB10,000 120.0% three March 28, 2022. On May 3, 2020, two $635 1%. |
Note 5 - Related Party Transact
Note 5 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 5. Related party transactions Loan from related parties In October December 2019, 60 $29 RMB200 nine September 30, 2020, 60 $32 RMB230 September 9, 2020. |
Note 6 - Income Taxes
Note 6 - Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. Income taxes There is no three nine September 30, 2019 2020. The Company recorded a full valuation allowance against deferred tax assets for all periods presented. There were no three nine September 30, 2020. not 12 |
Note 7 - Equity
Note 7 - Equity | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 7. Equity The movement of equity is as follows : BeyondSpring Inc.'s shareholders Accumulated Additional other Non Total Ordinary shares paid-in Accumulated comprehensive Subtotal controlling equity Shares Amount capital deficit income (loss) interests $ $ $ $ $ $ $ Balances at January 1, 2020 (audited) 27,885,613 3 246,979 (216,845 ) 140 30,277 854 31,131 Issuance of ordinary shares 2,613,590 - 31,395 - - 31,395 - 31,395 Share-based compensation 17,198 - 5,936 - - 5,936 132 6,068 Foreign currency translation adjustment loss - - - - (187 ) (187 ) (39 ) (226 ) Net loss - - - (43,377 ) - (43,377 ) (2,068 ) (45,445 ) Balances at September 30, 2020 (unaudited) 30,516,401 3 284,310 (260,222 ) (47 ) 24,044 (1,121 ) 22,923 Balances at January 1, 2019 (audited) 23,184,612 2 170,950 (178,760 ) 42 (7,766 ) (1,616 ) (9,382 ) Issuance of ordinary shares 2,679,578 1 44,956 - - 44,957 - 44,957 Capital contribution from noncontrolling interests - - 5,941 - - 5,941 4,142 10,083 Share-based compensation 100,000 - 1,750 - - 1,750 - 1,750 Capital injection shared by noncontrolling interests - - (578 ) - - (578 ) 578 - Foreign currency translation adjustment gain (loss) - - - - 183 183 (39 ) 144 Net loss - - - (24,012 ) - (24,012 ) (1,259 ) (25,271 ) Balances at September 30, 2019 (unaudited) 25,964,190 3 223,019 (202,772 ) 225 20,475 1,806 22,281 |
Note 8 - Restricted Net Assets
Note 8 - Restricted Net Assets | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | 8. Restricted net assets As a result of PRC laws and regulations, the Company's PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. As of December 31, 2019 September 30, 2020, $2,032 nil, |
Note 9 - Employee Defined Contr
Note 9 - Employee Defined Contribution Plan | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 9. 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 $20 $59 three nine September 30, 2019 $34 $81 three nine September 30, 2020, |
Note 10 - Net Loss Per Share
Note 10 - Net Loss Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 10. Net loss per share Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows: Three months ended Nine months ended September 30, September 30, 2019 2020 2019 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Numerator: Net loss attributable to BeyondSpring Inc.—basic and diluted $ (9,367 ) $ (14,540 ) $ (24,012 ) $ (43,377 ) Denominator: Weighted average number of ordinary shares outstanding—basic and diluted 25,309,776 30,303,093 23,819,453 28,658,215 Net loss per share —basic and diluted $ (0.37 ) $ (0.48 ) $ (1.01 ) $ (1.51 ) The effects of restricted shares and share options were excluded from the calculation of diluted loss per share as their effect would have been anti-dilutive during the three nine September 30, 2019 2020. |
Note 11 - Supplemental Balance
Note 11 - Supplemental Balance Sheet Information | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 11. Supplemental balance sheet information Other current liabilities consist of the following: As of December 31, As of September 30, 2019 2020 $ $ (Unaudited) Compensation related 226 320 Professional services - 267 Other taxes related 798 836 Others 65 128 Total 1,089 1,551 |
Note 12 - Share-based Compensat
Note 12 - Share-based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 12. Share-based compensation During the nine September 30, 2020, 1,661,943 14,394 The following table summarizes total share-based compensation expense recognized for the three nine September 30, 2019 2020: Three months ended Nine months ended September 30, September 30, 2019 2020 2019 2020 $ $ $ $ (Unaudited) (Unaudited) (Unaudited) (Unaudited) Research and development 125 257 502 4,008 General and administrative 337 1,519 1,248 2,074 Total 462 1,776 1,750 6,082 |
Note 13 - Subsequent Event
Note 13 - Subsequent Event | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. Subsequent event On November 12, 2020, $10,000 $10,000 $780,000 60% |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, 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 $45,445 nine September 30, 2020 $260,222 September 30, 2020. $36,783 nine September 30, 2020. September 30, 2020, $22,868 $30,874 The Company is implementing a cost reduction plan, which includes the deferral of certain research, development and clinical projects and reduction of administrative expenses until it obtains additional financings. With the implementation of the cost reduction plan, the Company anticipates that its current financial resources will enable it to meet its operational expense and capital expenditure needs into the fourth 2021. Therefore, the management believes that the substantial doubt about the Company's ability to continue as a going concern within one |
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 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value measurements The Company measures certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three • Level 1— • Level 2— • Level 3— no ASC 820, Fair Value Measurements and Disclosures 820” three 1 2 3 Financial instruments of the Company primarily include cash, 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, 2019 September 30, 2020. As of December 31, 2019 September 30, 2020, $1,436 $2,108, $1,373 $2,002, 2 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements New accounting standard that have not In December 2019, 2019 12, Income Taxes (Topic 740 Simplifying the Accounting for Income Taxes 740, December 15, 2020, |
Note 1 - Nature of the Busine_2
Note 1 - Nature of the Business and Basis of Preparation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Subsidiaries [Table Text Block] | Name of company Place of incorporation Date of Percentage of Principal BeyondSpring Pharmaceuticals Inc. (“BeyondSpring US”) Delaware, United States of America (“U.S.”) June 18, 2013 100% Clinical trial activities BeyondSpring Ltd. The British Virgin Islands (“BVI”) December 3, 2014 100% Holding company BeyondSpring (HK) Limited (“BeyondSpring HK”) Hong Kong January 13, 2015 100% Holding company Wanchun Biotechnology Limited (“BVI Biotech”) BVI April 1, 2015 100% Holding company Wanchun Biotechnology (Shenzhen) Ltd. (“Wanchun Shenzhen”) The People's Republic of China (“PRC”) April 23, 2015 100% Holding company Dalian Wanchunbulin Pharmaceuticals Ltd. (“Wanchunbulin”) PRC May 6, 2015 57.97% Clinical trial activities BeyondSpring Pharmaceuticals Australia PTY Ltd. (“BeyondSpring Australia”) Australia March 3, 2016 100% Clinical trial activities Beijing Wanchun Pharmaceutical Technology Ltd. (“Beijing Wanchun”) PRC May 21, 2018 57.97% Clinical trial activities SEED Therapeutics Inc. (“SEED”) BVI June 25, 2019 100% Pre-clinical development activities SEED Technology Limited (“SEED Technology”) BVI December 9, 2019 57.97% Holding company |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, September 30, 2019 2020 $ $ (Unaudited) Office equipment 150 170 Laboratory equipment 114 116 Motor vehicles 23 23 Leasehold improvements 103 115 390 424 Less: accumulated depreciation (181 ) (235 ) Property and equipment, net 209 189 |
Note 7 - Equity (Tables)
Note 7 - Equity (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | BeyondSpring Inc.'s shareholders Accumulated Additional other Non Total Ordinary shares paid-in Accumulated comprehensive Subtotal controlling equity Shares Amount capital deficit income (loss) interests $ $ $ $ $ $ $ Balances at January 1, 2020 (audited) 27,885,613 3 246,979 (216,845 ) 140 30,277 854 31,131 Issuance of ordinary shares 2,613,590 - 31,395 - - 31,395 - 31,395 Share-based compensation 17,198 - 5,936 - - 5,936 132 6,068 Foreign currency translation adjustment loss - - - - (187 ) (187 ) (39 ) (226 ) Net loss - - - (43,377 ) - (43,377 ) (2,068 ) (45,445 ) Balances at September 30, 2020 (unaudited) 30,516,401 3 284,310 (260,222 ) (47 ) 24,044 (1,121 ) 22,923 Balances at January 1, 2019 (audited) 23,184,612 2 170,950 (178,760 ) 42 (7,766 ) (1,616 ) (9,382 ) Issuance of ordinary shares 2,679,578 1 44,956 - - 44,957 - 44,957 Capital contribution from noncontrolling interests - - 5,941 - - 5,941 4,142 10,083 Share-based compensation 100,000 - 1,750 - - 1,750 - 1,750 Capital injection shared by noncontrolling interests - - (578 ) - - (578 ) 578 - Foreign currency translation adjustment gain (loss) - - - - 183 183 (39 ) 144 Net loss - - - (24,012 ) - (24,012 ) (1,259 ) (25,271 ) Balances at September 30, 2019 (unaudited) 25,964,190 3 223,019 (202,772 ) 225 20,475 1,806 22,281 |
Note 10 - Net Loss Per Share (T
Note 10 - Net Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2019 2020 2019 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Numerator: Net loss attributable to BeyondSpring Inc.—basic and diluted $ (9,367 ) $ (14,540 ) $ (24,012 ) $ (43,377 ) Denominator: Weighted average number of ordinary shares outstanding—basic and diluted 25,309,776 30,303,093 23,819,453 28,658,215 Net loss per share —basic and diluted $ (0.37 ) $ (0.48 ) $ (1.01 ) $ (1.51 ) |
Note 11 - Supplemental Balanc_2
Note 11 - Supplemental Balance Sheet Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Other Current Liabilities [Table Text Block] | As of December 31, As of September 30, 2019 2020 $ $ (Unaudited) Compensation related 226 320 Professional services - 267 Other taxes related 798 836 Others 65 128 Total 1,089 1,551 |
Note 12 - Share-based Compens_2
Note 12 - Share-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2019 2020 2019 2020 $ $ $ $ (Unaudited) (Unaudited) (Unaudited) (Unaudited) Research and development 125 257 502 4,008 General and administrative 337 1,519 1,248 2,074 Total 462 1,776 1,750 6,082 |
Note 1 - Nature of the Busine_3
Note 1 - Nature of the Business and Basis of Preparation (Details Textual) - USD ($) | Jun. 18, 2020 | Jul. 31, 2020 | Jun. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 |
Proceeds from Issuance of Common Stock | $ 31,933,000 | $ 44,957,000 | ||||
Public Offering [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,219,500 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 13 | |||||
Proceeds from Issuance of Common Stock, Net | $ 28,854,000 | |||||
Private Placement [Member] | ||||||
Proceeds from Issuance of Common Stock | $ 5,000,000 | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 384,615 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 13 | |||||
Jefferies [Member] | ||||||
Proceeds from Issuance of Common Stock | $ 13,185 | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 630,228 |
Note 1 - Nature of the Busine_4
Note 1 - Nature of the Business and Basis of Preparation - Schedule of Subsidiaries (Details) | Sep. 30, 2020 |
Equity method investment, ownership percentage | 57.97% |
BeyondSpring Pharmaceuticals Inc. [Member] | |
Equity method investment, ownership percentage | 100.00% |
BeyondSpring Ltd. [Member] | |
Equity method investment, ownership percentage | 100.00% |
BeyondSpring HK Limited [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 | 57.97% |
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 | 57.97% |
SEED Therapuetics Inc. [Member] | |
Equity method investment, ownership percentage | 100.00% |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | (15,184) | $ (9,824) | (45,445) | (25,271) | |
Retained Earnings (Accumulated Deficit), Ending Balance | (260,222) | (260,222) | $ (216,845) | ||
Net Cash Provided by (Used in) Operating Activities, Total | (36,783) | $ (35,480) | |||
Net Current Assets | 22,868 | 22,868 | |||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 30,874 | 30,874 | 35,933 | ||
Long-term Debt, Total | 2,108 | 2,108 | 1,436 | ||
Long-term Debt, Fair Value | $ 2,002 | $ 2,002 | $ 1,373 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Depreciation, Total | $ 22 | $ 21 | $ 54 | $ 61 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Property, plant, and equipment, gross | $ 424 | $ 390 |
Less: accumulated depreciation | (235) | (181) |
Property and equipment, net | 189 | 209 |
Office Equipment [Member] | ||
Property, plant, and equipment, gross | 170 | 150 |
Laboratory Equipment [Member] | ||
Property, plant, and equipment, gross | 116 | 114 |
Automobiles [Member] | ||
Property, plant, and equipment, gross | 23 | 23 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 115 | $ 103 |
Note 4 - Long-term Loans (Detai
Note 4 - Long-term Loans (Details Textual) $ in Thousands, ¥ in Millions | May 03, 2020USD ($) | Mar. 28, 2019USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Mar. 28, 2019CNY (¥) |
Long-term Debt, Total | $ 2,108 | $ 1,436 | |||
Term Loan [Member] | China Construction Bank [Member] | |||||
Debt Instrument, Term (Year) | 3 years | ||||
Long-term Debt, Total | $ 1,493 | ¥ 10 | |||
Term Loan [Member] | China Construction Bank [Member] | Three Yearr Loan Interest Rate Quoted by People's Bank of China [Member] | |||||
Debt Instrument, Annual Interest Rate Based on Variable Rate | 120.00% | ||||
Paycheck Protection Program CARES Act [Member] | |||||
Proceeds from Issuance of Long-term Debt, Total | $ 635 |
Note 5 - Related Party Transa_2
Note 5 - Related Party Transactions (Details Textual) ¥ in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Sep. 30, 2020USD ($) | Sep. 30, 2020CNY (¥) | |
Dalian Wanchun Biotechnology Co., Ltd. [Member] | ||||
Proceeds from Short-term Debt, Total | $ 29 | ¥ 200 | $ 32 | ¥ 230 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 | $ 0 | $ 0 |
Note 7 - Equity - Schedule of S
Note 7 - Equity - Schedule of Stockholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balances | $ 31,131 | $ (9,382) | ||
Issuance of ordinary shares | 31,395 | 44,957 | ||
Share-based compensation | 6,068 | |||
Foreign currency translation adjustment gain (loss) | $ (277) | $ 113 | (226) | 144 |
Net loss | (15,184) | (9,824) | (45,445) | (25,271) |
Capital contribution from noncontrolling interests | 10,083 | |||
Share-based compensation | 1,750 | |||
Capital injection shared by noncontrolling interests | ||||
Balances | $ 22,923 | $ 22,281 | $ 22,923 | $ 22,281 |
Common Stock [Member] | ||||
Balances (in shares) | 27,885,613 | 23,184,612 | ||
Balances | $ 3 | $ 2 | ||
Issuance of ordinary shares (in shares) | 2,613,590 | 2,679,578 | ||
Issuance of ordinary shares | $ 1 | |||
Share-based compensation (in shares) | 17,198 | 100,000 | ||
Share-based compensation | ||||
Foreign currency translation adjustment gain (loss) | ||||
Net loss | ||||
Capital contribution from noncontrolling interests | ||||
Share-based compensation | ||||
Capital injection shared by noncontrolling interests | ||||
Balances (in shares) | 30,516,401 | 25,964,190 | 30,516,401 | 25,964,190 |
Balances | $ 3 | $ 3 | $ 3 | $ 3 |
Additional Paid-in Capital [Member] | ||||
Balances | 246,979 | 170,950 | ||
Issuance of ordinary shares | 31,395 | 44,956 | ||
Share-based compensation | 5,936 | |||
Foreign currency translation adjustment gain (loss) | ||||
Net loss | ||||
Capital contribution from noncontrolling interests | 5,941 | |||
Share-based compensation | 1,750 | |||
Capital injection shared by noncontrolling interests | (578) | |||
Balances | 284,310 | 223,019 | 284,310 | 223,019 |
Retained Earnings [Member] | ||||
Balances | (216,845) | (178,760) | ||
Issuance of ordinary shares | ||||
Share-based compensation | ||||
Foreign currency translation adjustment gain (loss) | ||||
Net loss | (43,377) | (24,012) | ||
Capital contribution from noncontrolling interests | ||||
Share-based compensation | ||||
Capital injection shared by noncontrolling interests | ||||
Balances | (260,222) | (202,772) | (260,222) | (202,772) |
AOCI Attributable to Parent [Member] | ||||
Balances | 140 | 42 | ||
Issuance of ordinary shares | ||||
Share-based compensation | ||||
Foreign currency translation adjustment gain (loss) | (187) | 183 | ||
Net loss | ||||
Capital contribution from noncontrolling interests | ||||
Share-based compensation | ||||
Capital injection shared by noncontrolling interests | ||||
Balances | (47) | 225 | (47) | 225 |
Parent [Member] | ||||
Balances | 30,277 | (7,766) | ||
Issuance of ordinary shares | 31,395 | 44,957 | ||
Share-based compensation | 5,936 | |||
Foreign currency translation adjustment gain (loss) | (187) | 183 | ||
Net loss | (43,377) | (24,012) | ||
Capital contribution from noncontrolling interests | 5,941 | |||
Share-based compensation | 1,750 | |||
Capital injection shared by noncontrolling interests | (578) | |||
Balances | 24,044 | 20,475 | 24,044 | 20,475 |
Noncontrolling Interest [Member] | ||||
Balances | 854 | (1,616) | ||
Issuance of ordinary shares | ||||
Share-based compensation | 132 | |||
Foreign currency translation adjustment gain (loss) | (39) | (39) | ||
Net loss | (2,068) | (1,259) | ||
Capital contribution from noncontrolling interests | 4,142 | |||
Share-based compensation | ||||
Capital injection shared by noncontrolling interests | 578 | |||
Balances | $ (1,121) | $ 1,806 | $ (1,121) | $ 1,806 |
Note 8 - Restricted Net Assets
Note 8 - Restricted Net Assets (Details Textual) $ in Thousands | Dec. 31, 2019USD ($) |
Restricted Net Assets | $ 2,032 |
Note 9 - Employee Defined Con_2
Note 9 - Employee Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Defined Contribution Plan, Cost | $ 34 | $ 20 | $ 81 | $ 59 |
Note 10 - Net Loss Per Share -
Note 10 - Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net loss attributable to BeyondSpring Inc.—basic and diluted | $ (14,540) | $ (9,367) | $ (43,377) | $ (24,012) |
Weighted average number of ordinary shares outstanding—basic and diluted (in shares) | 30,303,093 | 25,309,776 | 28,658,215 | 23,819,453 |
Net loss per share —basic and diluted (in dollars per share) | $ (0.48) | $ (0.37) | $ (1.51) | $ (1.01) |
Note 11 - Supplemental Balanc_3
Note 11 - Supplemental Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Compensation related | $ 320 | $ 226 |
Professional services | 267 | |
Other taxes related | 836 | 798 |
Others | 128 | 65 |
Total | $ 1,551 | $ 1,089 |
Note 12 - Share-based Compens_3
Note 12 - Share-based Compensation (Details Textual) | 9 Months Ended |
Sep. 30, 2020shares | |
Share-based Payment Arrangement, Option [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,661,943 |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 14,394 |
Note 12 - Share-based Compens_4
Note 12 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Allocated Share-based Compensation Expense | $ 1,776 | $ 462 | $ 6,082 | $ 1,750 |
Research and Development Expense [Member] | ||||
Allocated Share-based Compensation Expense | 257 | 125 | 4,008 | 502 |
General and Administrative Expense [Member] | ||||
Allocated Share-based Compensation Expense | $ 1,519 | $ 337 | $ 2,074 | $ 1,248 |
Note 13 - Subsequent Event (Det
Note 13 - Subsequent Event (Details Textual) - USD ($) $ in Millions | Nov. 16, 2020 | Sep. 30, 2020 |
Ownership Percentage in Subsidiaries | 57.97% | |
Subsequent Event [Member] | SEED Therapeutics Inc. [Member] | ||
Ownership Percentage in Subsidiaries | 60.00% | |
Research Collaboration and License Agreement with Eli Lilly [Member] | SEED Therapeutics Inc. [Member] | Subsequent Event [Member] | ||
Collaborative Arrangement, Upfront Cash Payment | $ 10 | |
Research Collaboration and License Agreement with Eli Lilly [Member] | SEED Therapeutics Inc. [Member] | Subsequent Event [Member] | Maximum [Member] | ||
Collaborative Arrangement, Equity Investment | $ 780 |