0001171843-26-001908
SEC filingBeyondSpring Inc., a clinical-stage biopharmaceutical company, reported a net loss of $14.2 million for the fiscal year ended December 31, 2025. The loss before income tax from continuing operations was $8.6 million, with an income tax expense of $90 thousand. Total assets decreased to $25.9 million, including $7.8 million in cash and cash equivalents, $4.8 million in short-term investments, and $20.9 million in total current assets. Total liabilities stood at $49.9 million, driven by $28.6 million in deferred revenue and discontinued operations liabilities, resulting in a total shareholders' deficit of $24.0 million. Cash flows reflected heavy R&D investment, with net cash used in operating activities of $19.8 million, partially offset by $10.8 million provided by investing activities, mainly $7.4 million from the sale of subsidiary interests and $18.4 million from short-term investment maturities, and $5.0 million from financing activities including $2.0 million from ordinary share issuance. Net decrease in cash was $3.9 million. The company continues development of Plinabulin and its pipeline, with no revenue reported, emphasizing liquidity management amid ongoing clinical trials and discontinued operations.
BeyondSpring Inc. recorded a net loss of $14.2 million for FY 2025, starting from the cash flow statement reconciliation. Loss before income tax was -$8.6 million, with income tax expense of $90K after adjustments including changes in valuation allowance of -$577K and other items. No prior year figures are provided for direct comparison. Balance sheet shows total assets of $25.9M, down implicitly from operations, with shareholders' deficit of -$24.0M due to accumulated deficit of -$408.4M offset by $375.7M additional paid-in capital. Discontinued operations contribute $8.0M current assets and $11.1M current liabilities. Shares outstanding increased to 41,122,320 from 40,316,320 in 2024.
No revenue figures are disclosed in the XBRL data or document content for FY 2025. As a clinical-stage biopharmaceutical company focused on Plinabulin and pipeline assets, operations remain pre-commercialization with expenses dominated by R&D contracts and no segment revenue breakdown provided.
No gross profit, operating income, or margin metrics are available. Profitability is negative, reflected in the $14.2M net loss and $8.6M pre-tax loss, driven by R&D and operational costs. Share-based compensation was $722K, depreciation $87K, and non-cash lease expenses $747K in cash flow adjustments. Tax reconciliation shows effective rate impacts from preferential rates, R&D credits, and valuation changes.
Net cash used in operating activities was -$19.8M, adjusted for $7.0M gain on subsidiary sale, $1.8M accrued expenses increase, and $722K share-based compensation. Investing provided $10.8M, including $7.4M subsidiary proceeds, $18.4M investment maturities minus $14.9M purchases. Financing yielded $5.0M from $2.0M share issuance and $2.7M noncontrolling contributions. Cash decreased $3.9M to $7.8M, with continuing operations cash at $15.3M excluding discontinued $2.4M. Liquidity includes $4.8M short-term investments; liabilities feature $28.6M deferred revenue and $36.3M noncurrent total.
No specific management guidance on future financials is provided. Strategic focus remains on Plinabulin as a pipeline-in-a-drug for cancer, with pre-clinical immune agents and equity in SEED. Risks include funding needs, potential dilution, lease commitments through 2027, and government grant obligations for subsidiary Wanchunbulin until 2033. Critical estimates involve R&D accruals; ongoing clinical development may require additional capital.