Summary of BeyondSpring (BYSI) Q4 2021 Earnings Call

1Key Financial Results and Metrics

Q4 2021 Net Loss: $9.5 million, down from $17.6 million in Q4 2020.

Full Year 2021 Net Loss: $64.2 million, compared to $61.0 million in 2020.

R&D Expenses: $5.8 million in Q4 2021 (down from $8.4 million in Q4 2020); $36.9 million for the full year (down from $41.8 million in 2020).

G&A Expenses: $5.0 million in Q4 2021 (down from $10.4 million in Q4 2020); $30.7 million for the full year (up from $22.6 million in 2020).

Cash Position: $41.6 million in cash and $30.7 million in short-term investments as of December 31, 2021, totaling $72.4 million.

2Strategic Updates and Business Highlights

Plinabulin Development: Ongoing discussions with the China NMPA for the NDA review of Plinabulin in combination with G-CSF for chemotherapy-induced neutropenia (CIN). The G-CSF market in China is significant, with $1.2 billion in sales in 2020.

Positive Clinical Data: Announced positive top-line data from the Phase 3 DUBLIN-3 study for Plinabulin in non-small cell lung cancer (NSCLC), showing improved survival rates compared to docetaxel alone.

Partnership with Hengrui Pharmaceuticals: A strategic partnership for the development and commercialization of Plinabulin in Greater China, with potential milestone payments totaling approximately $171 million.

Pipeline Expansion: Continued development of Plinabulin in immuno-oncology combinations and other cancer indications.

3Forward Guidance and Outlook

NDA Filing: Targeting an NDA filing for Plinabulin in China by year-end 2022.

U.S. FDA Discussions: Engaging in discussions regarding additional studies required for U.S. approval of Plinabulin for CIN and NSCLC. The timeline for these studies remains uncertain.

4Bad News, Challenges, or Points of Concern

Regulatory Hurdles: The U.S. FDA has indicated that additional data is required for both the CIN and NSCLC indications, which could delay timelines for approval.

Data Applicability Concerns: The FDA has raised questions about the applicability of clinical data derived primarily from Chinese populations to the U.S. market, potentially complicating approval processes.

Increased G&A Expenses: Notable increase in G&A expenses for the full year 2021, attributed to higher pre-commercialization costs, which may not be sustainable in the long term.

5Notable Q&A Insights

China Approval for CIN: Management expressed optimism about the ongoing review process with the NMPA, citing positive meetings and strong data from the Phase 3 study.

U.S. FDA Study Requirements: Discussions with the FDA regarding the design of a second study for CIN are ongoing, with no definitive timeline provided.

Data Quality Assurance: Management reassured investors about the quality of data from Chinese trials, emphasizing adherence to good clinical practice (GCP) standards. Overall, BeyondSpring is focused on advancing its Plinabulin program amid regulatory challenges, while maintaining a solid cash position to support ongoing operations.