Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2021 | |
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, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q1 |
Amendment Flag | false |
Audited Consolidated Balance Sh
Audited Consolidated Balance Sheet as of December 31, 2020 and Unaudited Interim Condensed Consolidated Balance Sheet as of March 31, 2021 - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 90,574 | $ 109,537 |
Advances to suppliers | 3,436 | 3,505 |
Prepaid expenses and other current assets | 362 | 358 |
Total current assets | 94,372 | 113,400 |
Noncurrent assets: | ||
Property and equipment, net | 175 | 184 |
Operating lease right-of-use assets | 1,250 | 2,174 |
Other noncurrent assets | 1,296 | 1,280 |
Total noncurrent assets | 2,721 | 3,638 |
Total assets | 97,093 | 117,038 |
Current liabilities: | ||
Accounts payable | 1,569 | 2,216 |
Accrued expenses | 5,756 | 5,607 |
Current portion of operating lease liabilities | 505 | 787 |
Deferred revenue | 1,350 | 1,350 |
Long-term loans, current portion | 1,526 | |
Other current liabilities | 1,924 | 3,806 |
Total current liabilities | 12,630 | 13,766 |
Noncurrent liabilities: | ||
Long-term loans | 635 | 2,167 |
Operating lease liabilities | 673 | 1,359 |
Deferred revenue | 7,587 | 7,925 |
Total noncurrent liabilities | 8,895 | 11,451 |
Total liabilities | 21,525 | 25,217 |
Commitments and contingencies | ||
Mezzanine Equity | ||
Contingently redeemable noncontrolling interests | 5,196 | 5,196 |
Equity | ||
Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 39,141,913 and 39,106,476 shares issued and outstanding as of December 31, 2020 and March 31, 2021, respectively) | 4 | 4 |
Additional paid-in capital | 367,555 | 366,451 |
Accumulated deficit | (294,806) | (277,818) |
Accumulated other comprehensive loss | (247) | (297) |
Total BeyondSpring Inc.’s shareholders’ equity | 72,506 | 88,340 |
Noncontrolling interests | (2,134) | (1,715) |
Total equity | 70,372 | 86,625 |
Total liabilities, mezzanine equity and equity | $ 97,093 | $ 117,038 |
Audited Consolidated Balance _2
Audited Consolidated Balance Sheet as of December 31, 2020 and Unaudited Interim Condensed Consolidated Balance Sheet as of March 31, 2021 (Parentheticals) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
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) | 39,106,476 | 39,141,913 |
Ordinary shares, outstanding (in shares) | 39,106,476 | 39,141,913 |
Unaudited Interim Condensed Con
Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2020 and 2021 - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenue | $ 338 | |
Operating expenses | ||
Research and development | (11,311) | (13,704) |
General and administrative | (6,447) | (2,928) |
Loss from operations | (17,420) | (16,632) |
Foreign exchange loss, net | (31) | (74) |
Interest income | 32 | 64 |
Interest expense | (24) | (21) |
Other income | 1 | |
Loss before income tax | (17,443) | (16,662) |
Income tax benefit | 0 | 0 |
Net loss | (17,443) | (16,662) |
Less: Net loss attributable to noncontrolling interests | (455) | (578) |
Net loss attributable to BeyondSpring Inc. | $ (16,988) | $ (16,084) |
Net loss per share | ||
Basic and diluted (in dollars per share) | $ (0.44) | $ (0.58) |
Weighted average shares outstanding | ||
Basic and diluted (in shares) | 39,004,609 | 27,732,449 |
Other comprehensive loss, net of tax of nil: | ||
Foreign currency translation adjustment gain | $ 73 | $ 53 |
Comprehensive loss | (17,370) | (16,609) |
Less: Comprehensive loss attributable to noncontrolling interests | (432) | (582) |
Comprehensive loss attributable to BeyondSpring Inc. | $ (16,938) | $ (16,027) |
Unaudited Interim Condensed C_2
Unaudited Interim Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2020 and 2021 - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (17,443) | $ (16,662) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Share-based compensation | 1,122 | 3,470 |
Depreciation expenses | 17 | 15 |
Non-cash operating lease expense | 99 | 157 |
Loss on disposal of right-of-use assets | 22 | |
Changes in assets and liabilities: | ||
Advances to suppliers | 69 | 135 |
Prepaid expenses and other current assets | (4) | (42) |
Other noncurrent assets | (16) | 5 |
Accounts payable | (647) | 2,603 |
Accrued expenses | 187 | (1,164) |
Operating lease liabilities | (165) | (163) |
Other current liabilities | (1,843) | 596 |
Deferred revenue | (338) | |
Net cash used in operating activities | (18,940) | (11,050) |
Cash flows from investing activities: | ||
Acquisitions of property and equipment | (8) | (9) |
Net cash used in investing activities | (8) | (9) |
Cash flows from financing activities: | ||
Issuance costs of ordinary shares and redeemable noncontrolling interests | (82) | |
Loans from related parties | 14 | |
Net cash provided by (used in) financing activities | (82) | 14 |
Effect of foreign exchange rate changes, net | 67 | 29 |
Net decrease in cash and cash equivalents | (18,963) | (11,016) |
Cash and cash equivalents at beginning of period | 109,537 | 35,933 |
Cash and cash equivalents at end of period | 90,574 | 24,917 |
Supplemental disclosures of cash flow information | ||
Interest paid | 22 | 21 |
Interest received | 24 | 117 |
Non-cash activities: | ||
Operating right-of-use assets obtained (released) in exchange for operating lease liabilities | $ (803) | $ 226 |
Note 1 - Nature of the Business
Note 1 - Nature of the Business and Basis of Preparation | 3 Months Ended |
Mar. 31, 2021 | |
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 of March 31, 2021, Percentage of Date of ownership by the Principal Name of company Place of incorporation incorporation Company activities BeyondSpring Pharmaceuticals Inc. Delaware, (“BeyondSpring US ”) 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. The People's Republic of China (“Wanchun Shenzhen”) (“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% Holding company SEED Therapeutics Inc. (“SEED”) BVI June 25, 2019 58.97% Pre-clinical development activities SEED Technology Limited (“SEED Technology”) BVI December 9, 2019 57.97% Holding company SEED Therapeutics US, Inc. (“SEED US”) Delaware, U.S. November 25, 2020 58.97% Pre-clinical development activities The accompanying unaudited interim condensed consolidated balance sheet as of March 31, 2021, three March 31, 2020 2021, three March 31, 2020 2021, December 31, 2020. 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, 2021 not 2021. December 31, 2020 not December 31, 2020. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
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 $17,443 three March 31, 2021 $294,806 March 31, 2021. $18,940 three March 31, 2021. March 31, 2021, $81,742 $90,574 Based on the Company's cash and cash equivalents on hand on March 31, 2021, not one 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 measurement of right-of-use assets and lease liabilities, fair value of financial instruments and estimating of useful life for property and equipment. Management bases the estimates on historical experience, known trends and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates. Fair value measurements The Company applies ASC 820, Fair Value Measurements and Disclosures 820” 820 ASC 820 three • Level 1—Observable • Level 2—Other • Level 3—Unobservable no ASC 820 three 1 2 3 Financial instruments of the Company primarily include cash and cash equivalents, accounts payable, redeemable noncontrolling interests, forward liability and long-term loans. The redeemable noncontrolling interests were initially recorded at issuance price net of issuance costs. The Company recognizes changes in the redemption value immediately as they occur and adjusts the carrying value of the redeemable noncontrolling interests to equal the redemption value at the end of each reporting period. The Company measures its forward liability at fair value on a recurring basis. As of December 31, 2020 March 31, 2021, As of December 31, 2020 March 31, 2021, $2,167 $635, $2,136 $634, 2 Liabilities measured at fair value on a recurring basis as of December 31, 2020 March 31, 2021 Fair value measurement Recurring fair value measurement Total Fair Value Quoted prices in ( Level 1) Significant ( Level 2) Significant (Level 3) $ $ $ $ As of December 31, 2020 (audited): Forward liability (Note 3) 278 - - 278 As of March 31, 2021 (unaudited): Forward liability (Note 3) 278 - - 278 The Company determined the fair value of the forward liability with the assistance of an independent third December 31, 2020 March 31, 2021 For the three March 31, 2021, not The following table represents the assumptions used to estimate the fair value of the forward liability. Valuation technique Unobservable inputs Range Forward liability Discounted cash flow Fair value of underlying security 2.65 The following table presents a reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3 Forward liability $ Balance as of December 31, 2020 (audited) 278 Gains or losses from changes in fair value - Balance as of March 31, 2021 (unaudited) 278 |
Note 3 - Collaboration Revenue
Note 3 - Collaboration Revenue | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Collaboration Revenue Disclosure [Text Block] | 3. Collaboration revenue On November 12, 2020, no three Under the Collaboration Agreement, Lilly paid SEED an upfront non-refundable fee of $10,000 November 2020. $780,000 808, 606. Under ASC 606, Revenue from Contracts with Customers 606” , the Company determined the license under the Ub Platform Technology is not three 7 not In connection with the Collaboration Agreement, the Company and SEED Technology (collectively, the “BYSI Entities”) transferred certain contracts, know-how, materials and equipment, and documents related to a proprietary technology platform to SEED for 9,631,941 1 1 1,194,030 1 1,990,000 2 2 1 $2.5125 2 14 “A2 1,990,000 2 $2.5125 November 12, 2022, A2 2 third 2 2 $5,267 $278, The Company recognized collaboration revenue of nil $338 three March 31, 2020 2021, three March 31, 2021 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment, Net | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. Property and equipment, net Property and equipment consist of the following: December 31, 2020 March 31, 2021 $ $ (Unaudited) Office equipment 181 191 Laboratory equipment 121 120 Motor vehicles 24 24 Leasehold improvements 116 115 442 450 Less: accumulated depreciation (258 ) (275 ) Property and equipment, net 184 175 Depreciation expenses for the three March 31, 2020 2021 $15 $17, |
Note 5 - Loans
Note 5 - Loans | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 5. Loans On March 28, 2019, three $1,493 RMB10,000 5.45% March 31, 2021. March 28, 2022. On May 3, 2020, two $635 1% May 3, 2022. The aggregate contractual maturities of all borrowings due subsequent to March 31, 2021 Maturity dates Amounts $ (Unaudited) Year ending December 31, 2021 - Year ending December 31, 2022 2,161 Total 2,161 |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 6. Related party transactions In February 2020, 60 $14 RMB100 September 2020. |
Note 7 - Income Taxes
Note 7 - Income Taxes | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 7. Income taxes There is no three March 31, 2020 2021. The Company recorded a full valuation allowance against deferred tax assets for all periods presented. There were no three March 31, 2021. not 12 |
Note 8 - Equity
Note 8 - Equity | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. Equity The movement of equity is as follows : BeyondSpring Inc.'s shareholders Accumulated Additional other Non Ordinary share paid-in Accumulated comprehensive controlling Total Shares Amount capital deficit (loss) gain Subtotal interests equity $ $ $ $ $ $ $ Balances at January 1, 2021 (audited) 39,141,913 4 366,451 (277,818 ) (297 ) 88,340 (1,715 ) 86,625 Share-based compensation (35,437 ) - 1,104 - - 1,104 13 1,117 Foreign currency translation adjustment gain - - - - 50 50 23 73 Net loss - - - (16,988 ) - (16,988 ) (455 ) (17,443 ) Balances at March 31, 2021 (unaudited) 39,106,476 4 367,555 (294,806 ) (247 ) 72,506 (2,134 ) 70,372 Balances at January 1, 2020 (audited) 27,885,613 3 246,979 (216,845 ) 140 30,277 854 31,131 Share-based compensation 3,293 - 3,438 - - 3,438 32 3,470 Foreign currency translation adjustment gain (loss) - - - - 57 57 (4 ) 53 Net loss - - - (16,084 ) - (16,084 ) (578 ) (16,662 ) Balances at March 31, 2020 (unaudited) 27,888,906 3 250,417 (232,929 ) 197 17,688 304 17,992 |
Note 9 - Restricted Net Assets
Note 9 - Restricted Net Assets | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | 9. 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, 2020 March 31, 2021, nil |
Note 10 - Employee Defined Cont
Note 10 - Employee Defined Contribution Plan | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 10. 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 $26 $61 three March 31, 2020 2021, |
Note 11 - Net Loss Per Share
Note 11 - Net Loss Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 11. Net loss per share Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows: Three months ended March 31, 2020 2021 (Unaudited) (Unaudited) Numerator: Net loss attributable to BeyondSpring Inc.—basic and diluted $ (16,084 ) $ (16,988 ) Denominator: Weighted average number of ordinary shares outstanding—basic and diluted 27,732,449 39,004,609 Net loss per share —basic and diluted $ (0.58 ) $ (0.44 ) The effects of unvested 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 March 31, 2020 2021. |
Note 12 - Supplemental Balance
Note 12 - Supplemental Balance Sheet Information | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 12. Supplemental balance sheet information Other current liabilities consist of the following: As of December 31, As of March 31, 2020 2021 $ $ ( Unaudited) Compensation related 2,222 714 Professional services 373 46 Other taxes related 857 876 Forward liability 278 278 Others 76 10 Total 3,806 1,924 |
Note 13 - Share based Compensat
Note 13 - Share based Compensation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 13. Share-based compensation During the three March 31, 2021, 100,208 1,426 The following table summarizes total share-based compensation expense recognized for the three March 31, 2020 2021: Three months ended March 31, 2020 2021 $ $ (Unaudited) (Unaudited) Research and development 3,183 8 General and administrative 287 1,114 Total 3,470 1,122 |
Note 14 - Contingently Redeemab
Note 14 - Contingently Redeemable Noncontrolling Interests | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | 14. Contingently redeemable noncontrolling interests The Company determined that Series A- 2 may at the option of the holders on or after an agreed upon date outside the sole control of SEED The Company concluded that the Series A- 2 not The holder of the Series A- 2 2 2 not not 2 not not no No 2 $0.50 $2.5125. third Since the fair value of the Series A- 2 March 31, 2021, no three March 31, 2021. |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15. Commitments and contingencies Legal Proceedings From time to time, we may not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
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 $17,443 three March 31, 2021 $294,806 March 31, 2021. $18,940 three March 31, 2021. March 31, 2021, $81,742 $90,574 Based on the Company's cash and cash equivalents on hand on March 31, 2021, not one |
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 measurement of right-of-use assets and lease liabilities, fair value of financial instruments and estimating of useful life for property and equipment. Management bases the estimates on historical experience, known trends and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value measurements The Company applies ASC 820, Fair Value Measurements and Disclosures 820” 820 ASC 820 three • Level 1—Observable • Level 2—Other • Level 3—Unobservable no ASC 820 three 1 2 3 Financial instruments of the Company primarily include cash and cash equivalents, accounts payable, redeemable noncontrolling interests, forward liability and long-term loans. The redeemable noncontrolling interests were initially recorded at issuance price net of issuance costs. The Company recognizes changes in the redemption value immediately as they occur and adjusts the carrying value of the redeemable noncontrolling interests to equal the redemption value at the end of each reporting period. The Company measures its forward liability at fair value on a recurring basis. As of December 31, 2020 March 31, 2021, As of December 31, 2020 March 31, 2021, $2,167 $635, $2,136 $634, 2 Liabilities measured at fair value on a recurring basis as of December 31, 2020 March 31, 2021 Fair value measurement Recurring fair value measurement Total Fair Value Quoted prices in ( Level 1) Significant ( Level 2) Significant (Level 3) $ $ $ $ As of December 31, 2020 (audited): Forward liability (Note 3) 278 - - 278 As of March 31, 2021 (unaudited): Forward liability (Note 3) 278 - - 278 The Company determined the fair value of the forward liability with the assistance of an independent third December 31, 2020 March 31, 2021 For the three March 31, 2021, not The following table represents the assumptions used to estimate the fair value of the forward liability. Valuation technique Unobservable inputs Range Forward liability Discounted cash flow Fair value of underlying security 2.65 The following table presents a reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3 Forward liability $ Balance as of December 31, 2020 (audited) 278 Gains or losses from changes in fair value - Balance as of March 31, 2021 (unaudited) 278 |
Note 1 - Nature of the Busine_2
Note 1 - Nature of the Business and Basis of Preparation (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Subsidiaries [Table Text Block] | Percentage of Date of ownership by the Principal Name of company Place of incorporation incorporation Company activities BeyondSpring Pharmaceuticals Inc. Delaware, (“BeyondSpring US ”) 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. The People's Republic of China (“Wanchun Shenzhen”) (“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% Holding company SEED Therapeutics Inc. (“SEED”) BVI June 25, 2019 58.97% Pre-clinical development activities SEED Technology Limited (“SEED Technology”) BVI December 9, 2019 57.97% Holding company SEED Therapeutics US, Inc. (“SEED US”) Delaware, U.S. November 25, 2020 58.97% Pre-clinical development activities |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair value measurement Recurring fair value measurement Total Fair Value Quoted prices in ( Level 1) Significant ( Level 2) Significant (Level 3) $ $ $ $ As of December 31, 2020 (audited): Forward liability (Note 3) 278 - - 278 As of March 31, 2021 (unaudited): Forward liability (Note 3) 278 - - 278 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Valuation technique Unobservable inputs Range Forward liability Discounted cash flow Fair value of underlying security 2.65 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Forward liability $ Balance as of December 31, 2020 (audited) 278 Gains or losses from changes in fair value - Balance as of March 31, 2021 (unaudited) 278 |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2020 March 31, 2021 $ $ (Unaudited) Office equipment 181 191 Laboratory equipment 121 120 Motor vehicles 24 24 Leasehold improvements 116 115 442 450 Less: accumulated depreciation (258 ) (275 ) Property and equipment, net 184 175 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturity dates Amounts $ (Unaudited) Year ending December 31, 2021 - Year ending December 31, 2022 2,161 Total 2,161 |
Note 8 - Equity (Tables)
Note 8 - Equity (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | BeyondSpring Inc.'s shareholders Accumulated Additional other Non Ordinary share paid-in Accumulated comprehensive controlling Total Shares Amount capital deficit (loss) gain Subtotal interests equity $ $ $ $ $ $ $ Balances at January 1, 2021 (audited) 39,141,913 4 366,451 (277,818 ) (297 ) 88,340 (1,715 ) 86,625 Share-based compensation (35,437 ) - 1,104 - - 1,104 13 1,117 Foreign currency translation adjustment gain - - - - 50 50 23 73 Net loss - - - (16,988 ) - (16,988 ) (455 ) (17,443 ) Balances at March 31, 2021 (unaudited) 39,106,476 4 367,555 (294,806 ) (247 ) 72,506 (2,134 ) 70,372 Balances at January 1, 2020 (audited) 27,885,613 3 246,979 (216,845 ) 140 30,277 854 31,131 Share-based compensation 3,293 - 3,438 - - 3,438 32 3,470 Foreign currency translation adjustment gain (loss) - - - - 57 57 (4 ) 53 Net loss - - - (16,084 ) - (16,084 ) (578 ) (16,662 ) Balances at March 31, 2020 (unaudited) 27,888,906 3 250,417 (232,929 ) 197 17,688 304 17,992 |
Note 11 - Net Loss Per Share (T
Note 11 - Net Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, 2020 2021 (Unaudited) (Unaudited) Numerator: Net loss attributable to BeyondSpring Inc.—basic and diluted $ (16,084 ) $ (16,988 ) Denominator: Weighted average number of ordinary shares outstanding—basic and diluted 27,732,449 39,004,609 Net loss per share —basic and diluted $ (0.58 ) $ (0.44 ) |
Note 12 - Supplemental Balanc_2
Note 12 - Supplemental Balance Sheet Information (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Other Current Liabilities [Table Text Block] | As of December 31, As of March 31, 2020 2021 $ $ ( Unaudited) Compensation related 2,222 714 Professional services 373 46 Other taxes related 857 876 Forward liability 278 278 Others 76 10 Total 3,806 1,924 |
Note 13 - Share based Compens_2
Note 13 - Share based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended March 31, 2020 2021 $ $ (Unaudited) (Unaudited) Research and development 3,183 8 General and administrative 287 1,114 Total 3,470 1,122 |
Note 1 - Nature of the Busine_3
Note 1 - Nature of the Business and Basis of Preparation - Schedule of Subsidiaries (Details) | Mar. 31, 2021 |
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 Australia [Member] | |
Equity method investment, ownership percentage | 100.00% |
Beijing Wanchun Pharmaceutical Technology Ltd. [Member] | |
Equity method investment, ownership percentage | 57.97% |
SEED Therapeutics1 Inc. [Member] | |
Equity method investment, ownership percentage | 58.97% |
SEED Technology Limited [Member] | |
Equity method investment, ownership percentage | 57.97% |
SEED Therapeutics US, Inc. [Member] | |
Equity method investment, ownership percentage | 58.97% |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | $ (17,443) | $ (16,662) | |
Retained Earnings (Accumulated Deficit), Ending Balance | (294,806) | $ (277,818) | |
Net Cash Provided by (Used in) Operating Activities, Total | (18,940) | $ (11,050) | |
Net Current Assets | 81,742 | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 90,574 | 109,537 | |
Long-term Debt, Excluding Current Maturities, Total | 635 | 2,167 | |
Long-term Debt, Fair Value | 634 | $ 2,136 | |
Product [Member] | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 0 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Schedule of Fair Value of Assets and Liabilities Measured On Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Reported Value Measurement [Member] | ||
Forward liability (Note 3) | $ 278 | $ 278 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Forward liability (Note 3) | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Forward liability (Note 3) | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Forward liability (Note 3) | $ 278 | $ 278 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Assumptions Used to Estimate the Fair Value of the Forward Liability (Details) | Mar. 31, 2021 |
Fair Value of Underlying Security [Member] | Valuation, Income Approach [Member] | |
Forward liability | 2.65 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Reconciliation of Changes in Fair Value (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Balance | $ 278 |
Gains or losses from changes in fair value | |
Balance | $ 278 |
Note 3 - Collaboration Revenue
Note 3 - Collaboration Revenue (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Nov. 12, 2020 | Nov. 30, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Nov. 12, 2022 |
Revenue from Contract with Customer, Including Assessed Tax | $ 338 | ||||
Research Collaboration and License Agreement with Eli Lilly [Member] | Series A-2 Preferred Shares [Member] | |||||
Redeemable Noncontrolling Interest, Equity, Preferred, Fair Value | 5,267 | ||||
Research Collaboration and License Agreement with Eli Lilly [Member] | SEED Therapeutics Inc. [Member] | |||||
Collaborative Arrangement, Upfront Cash Payment | $ 10,000 | ||||
Derivative Liability, Total | 278 | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 338 | ||||
Research Collaboration and License Agreement with Eli Lilly [Member] | SEED Therapeutics Inc. [Member] | Series A-1 Convertible Preferred Shares [Member] | |||||
Stock Issued for Transfer of Assets, Shares (in shares) | 9,631,941 | ||||
Research Collaboration and License Agreement with Eli Lilly [Member] | SEED Therapeutics Inc. [Member] | Series A-1 Preferred Shares [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,194,030 | ||||
Research Collaboration and License Agreement with Eli Lilly [Member] | SEED Therapeutics Inc. [Member] | Series A-2 Preferred Shares [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,990,000 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 2.5125 | ||||
Research Collaboration and License Agreement with Eli Lilly [Member] | SEED Therapeutics Inc. [Member] | Additional Series A-2 Preferred Shares [Member] | Forecast [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,990,000 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 2.5125 | ||||
Research Collaboration and License Agreement with Eli Lilly [Member] | SEED Therapeutics Inc. [Member] | Maximum [Member] | |||||
Collaborative Arrangement, Equity Investment | $ 780,000 |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Depreciation, Total | $ 17 | $ 15 |
Note 4 - Property and Equipme_4
Note 4 - Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Property, plant, and equipment, gross | $ 450 | $ 442 |
Less: accumulated depreciation | (275) | (258) |
Property and equipment, net | 175 | 184 |
Office Equipment [Member] | ||
Property, plant, and equipment, gross | 191 | 181 |
Laboratory Equipment [Member] | ||
Property, plant, and equipment, gross | 120 | 121 |
Automobiles [Member] | ||
Property, plant, and equipment, gross | 24 | 24 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 115 | $ 116 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) $ in Thousands, ¥ in Millions | May 03, 2020USD ($) | Mar. 28, 2019USD ($) | Mar. 31, 2021USD ($) | Mar. 28, 2019CNY (¥) |
Long-term Debt, Total | $ 2,161 | |||
Term Loan [Member] | China Construction Bank [Member] | ||||
Debt Instrument, Term (Year) | 3 years | |||
Long-term Debt, Total | $ 1,493 | ¥ 10 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.45% | |||
Paycheck Protection Program CARES Act [Member] | ||||
Debt Instrument, Term (Year) | 2 years | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | |||
Proceeds from Issuance of Long-term Debt, Total | $ 635 |
Note 5 - Loans - Schedule of Ma
Note 5 - Loans - Schedule of Maturities (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Long term debt, 2021 | |
Long term debt, 2022 | 2,161 |
Total | $ 2,161 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Details Textual) - 1 months ended Feb. 29, 2020 $ in Thousands, ¥ in Millions | USD ($) | CNY (¥) |
Dalian Wanchun Biotechnology Co., Ltd. [Member] | ||
Proceeds from Short-term Debt, Total | $ 14 | ¥ 0.1 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Note 8 - Equity - Schedule of S
Note 8 - Equity - Schedule of Stockholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Balances | $ 86,625 | $ 31,131 |
Share-based compensation | 1,117 | 3,470 |
Foreign currency translation adjustment gain | 73 | 53 |
Net loss | (17,443) | (16,662) |
Balances | $ 70,372 | $ 17,992 |
Common Stock [Member] | ||
Balances (in shares) | 39,141,913 | 27,885,613 |
Balances | $ 4 | $ 3 |
Share-based compensation (in shares) | 35,437 | 3,293 |
Share-based compensation | ||
Foreign currency translation adjustment gain | ||
Net loss | ||
Balances (in shares) | 39,106,476 | 27,888,906 |
Balances | $ 4 | $ 3 |
Additional Paid-in Capital [Member] | ||
Balances | 366,451 | 246,979 |
Share-based compensation | 1,104 | 3,438 |
Foreign currency translation adjustment gain | ||
Net loss | ||
Balances | 367,555 | 250,417 |
Retained Earnings [Member] | ||
Balances | (277,818) | (216,845) |
Share-based compensation | ||
Foreign currency translation adjustment gain | ||
Net loss | (16,988) | (16,084) |
Balances | (294,806) | (232,929) |
AOCI Attributable to Parent [Member] | ||
Balances | (297) | 140 |
Share-based compensation | ||
Foreign currency translation adjustment gain | 50 | 57 |
Net loss | ||
Balances | (247) | 197 |
Parent [Member] | ||
Balances | 88,340 | 30,277 |
Share-based compensation | 1,104 | 3,438 |
Foreign currency translation adjustment gain | 50 | 57 |
Net loss | (16,988) | (16,084) |
Balances | 72,506 | 17,688 |
Noncontrolling Interest [Member] | ||
Balances | (1,715) | 854 |
Share-based compensation | 13 | 32 |
Foreign currency translation adjustment gain | 23 | (4) |
Net loss | (455) | (578) |
Balances | $ (2,134) | $ 304 |
Note 9 - Restricted Net Assets
Note 9 - Restricted Net Assets (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Restricted Net Assets | $ 0 | $ 0 |
Note 10 - Employee Defined Co_2
Note 10 - Employee Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Defined Contribution Plan, Cost | $ 61 | $ 26 |
Note 11 - Net Loss Per Share -
Note 11 - Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net loss attributable to ordinary shareholders | $ (16,988) | $ (16,084) |
Weighted average number of ordinary shares outstanding—basic and diluted (in shares) | 39,004,609 | 27,732,449 |
Net loss per share —basic and diluted (in dollars per share) | $ (0.44) | $ (0.58) |
Note 12 - Supplemental Balanc_3
Note 12 - Supplemental Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Compensation related | $ 714 | $ 2,222 |
Professional services | 46 | 373 |
Other taxes related | 876 | 857 |
Forward liability | 278 | 278 |
Others | 10 | 76 |
Total | $ 1,924 | $ 3,806 |
Note 13 - Share based Compens_3
Note 13 - Share based Compensation (Details Textual) | 3 Months Ended |
Mar. 31, 2021shares | |
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) | 100,208 |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,426 |
Note 13 - Share based Compens_4
Note 13 - Share based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Allocated Share-based Compensation Expense | $ 1,122 | $ 3,470 |
Research and Development Expense [Member] | ||
Allocated Share-based Compensation Expense | 8 | 3,183 |
General and Administrative Expense [Member] | ||
Allocated Share-based Compensation Expense | $ 1,114 | $ 287 |
Note 14 - Contingently Redeem_2
Note 14 - Contingently Redeemable Noncontrolling Interests (Details Textual) - Series A-2 Preferred Shares [Member] - Research Collaboration and License Agreement with Eli Lilly [Member] - SEED Therapeutics Inc. [Member] $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($)$ / shares | |
Temporary Equity, Stock Issued During Period, Value, New Issues | $ | $ 0 |
Share Price (in dollars per share) | $ / shares | $ 0.50 |
Convertible Instrument, Conversion Price (in dollars per share) | $ / shares | $ 2.5125 |
Preferred Stock, Accretion of Redemption Discount | $ | $ 0 |