Financing ·
FDA grants Fast Track for Plinabulin in NSCLC; BeyondSpring sells China unit to Biolin, raises up to $9.2M via ATM equity offering
BYSIBeyondSpring Inc.
BeyondSpring Inc. announced that the FDA granted Fast Track designation for Plinabulin combined with docetaxel in post-immunotherapy non-squamous NSCLC patients without actionable genomic alterations. Concurrently, the company entered into a Share Purchase and Collaboration Agreement to sell its wholly owned subsidiary BeyondSpring Ltd., which holds interests in Chinese subsidiary Dalian Wanchunbulin Pharmaceuticals Ltd., to Biolin Investment Limited for no cash consideration. In exchange, Biolin will fund the China portion of the global Phase 3 DUBLIN-4 trial, expected to enroll approximately 221 patients, representing roughly half of the total planned enrollment of 442 patients. The transaction aims to substantially reduce BeyondSpring's cash requirements while securing access to clinical data for its registration strategy. Additionally, BeyondSpring established an at-the-market equity offering program allowing it to sell up to 9,200,000 ordinary shares through Citizens JMP Securities LLC with a commission of up to 3.0%. BeyondSpring Inc. is a clinical-stage biopharmaceutical company developing innovative cancer therapies.