Shares of the BeyondSpring Inc. (BYSI) stock skyrocketed today on August 4, 2021. The whopping increase in the share price came after the announcement of positive topline results from the DUBLIN-3 Registrational trial. BYSI stock price saw a huge push of 181.52% to reach $27.11 a share at the time of this writing. The stock was gaining in the previous trade and closed at $9.63 with a 1.58% gain. Let’s deep dive to explore more of it.
What’s Happening?
BeyondSpring Inc. is the pharmaceutical stock mainly focusing on developing therapeutics to treat cancer patients. According to today’s announcement, its DUBLIN-3 registrational trial showed positive topline results. In the trial, plinabulin was combined with docetaxel to treat 2nd/ 3rd line Non-Small Cell Lung Cancer with EFGR wild type. The team conducting the trial compared the results of this combination with docetaxel alone. The results showed that the primary endpoint showed statistically improved overall survival with the combination as compared to docetaxel alone. The secondary endpoint met with significant improvement in ORR, PFS, and 24- and 36-month OS rates. The incidence of Grade 4 neutropenia showed a significant reduction.
The DUBLIN-3 Phase 3 trial consisted of 559 patients in 2nd and 3rd line NSCLC, EGFR wild type participated globally. The treatment period was 21 days in which patients dosed with docetaxel (75 mg/m2 on day 1) and plinabulin (30 mg/m2 on days 1 and 8) vs. docetaxel alone (75 mg/m2, day 1). The overall survival was the primary endpoint and statistical results showed significant improvement as compared to docetaxel alone.
The previous activity of BYSI stock:
BYSI stock on July 14, 2021, announced that it has appointed Brendan Delaney to its Board of Directors, effective immediately. Mr. Delaney is a professional in commercial oncology drug launches with more than 25 years of experience. He is also currently serving Constellation Pharma as the Chief Commercial Officer.
Financial View of BYSI stock:
In the first quarter of 2021, BYSI stock spent $11.3 million in R&D expenses and $6.4 million in G&A expenses. Net loss was $17.0 million for Q1 2021 as compared to $16.1 million in the same quarter of last year. BYSI stock reported $90.6 million in cash and cash equivalents by the end of March 2021.
Conclusion:
BYSI stock captivated the attention of investors after the positive topline results of the DUBLIN-3 phase-3 trial. The stock price increased more than tripled at one time in the stock market. As a result, short-term traders took advantage and generated high profits.
