BeyondSpring Inc. (BYSI), a clinical-stage biopharmaceutical company, has surged 11.90% in aftermarket trading session. Consequently, BYSI stock is trading at $14.86 at the time of the writing. On Thursday, BYSI closed the day at $13.28 after gaining an increase of 4.90% during the mid-day session. The constant increase is attributable to the anticipated US FDA approval of Plinabulin, the company’s lead product and elective immunomodulating microtubule-binding agent (SIMBA). For the moment, let’s discuss some recent developments related to BYSI stock.
BYSI Q2 2021 Financial Highlights
On 10th September, BYSI released the financial results for the second quarter of the fiscal year 2021. The quarter ended on 30th June 2021. The company had cash and cash equivalents of $51.30 million on 30th June 2021. The total revenue generated by the company during the period was $0.33 million. The loss suffered from operations by the company during the period was $19.97 million against $13.61 million for the same period of 2020. The net loss bore by the company during the period was $19.89 million against $13.59 million for the same period of 2020. The net loss per basic and diluted share for the quarter was $0.46 against $0.49 for the same quarter of 2020.
Alongside the financial results, BYSI also shed a light on the upcoming milestones. The company said that 30th November 2021 would be the PDUFA date for the Plinabulin in CIN prevention. During fiscal 2022, the company expected Phase 2 Data plinabulin, nivolumab, and pilimumab in checkpoint inhibitor-resistant SCLC. During the first half of fiscal 2022, the company expected to achieve NDA Submission for plinabulin in NSCLC.
Dr. Lan Huang, co-founder, chairwoman, and chief executive officer of BYSI, while commenting on the results said that the company had a very productive first half of fiscal 2021 as it obtained positive data from the registrational trial of plinabulin in 2nd/3rd line NSCLC. He hoped that the company is truly on the cusp of unlocking the tremendous potential of plinabulin to help many patients in need.
Future Outlook for BYSI
During the last three months, BYSI stock has declined more than 55%, the prime reason being the uncertainty associated with the company’s product, Plinabulin. With the FDA approval, however, chances are that the stock starts capturing the investor interest in a short time.