BeyondSpring Inc. reported its financial results for the second quarter of 2025, revealing a consolidated net loss of $4.6 million, a slight increase from a loss of $4.1 million in the same period of the previous year. For the six months ending June 30, 2025, the company recorded a net loss of $3.5 million, a significant improvement compared to a loss of $7.4 million for the first half of 2024. The company continues to operate without generating revenue from product sales, as it remains focused on the development of its lead asset, Plinabulin, and other clinical-stage therapies.
Operating expenses for the second quarter of 2025 totaled $1.9 million, which included $1.0 million in research and development costs, up from $0.8 million in the same quarter of 2024. The increase in R&D expenses was attributed to higher professional service fees related to regulatory activities and an increased volume of research supporting Plinabulin combination therapies. General and administrative expenses decreased to $0.9 million from $1.8 million year-over-year, primarily due to reduced consulting costs and a smaller administrative workforce.
In terms of strategic developments, BeyondSpring is in the process of divesting a significant portion of its interest in SEED Therapeutics Inc., with agreements in place to sell Series A-1 Preferred Shares for approximately $35.4 million. The first closing of this transaction occurred in February 2025, generating $7.4 million in cash. Following this transaction, BeyondSpring's ownership in SEED is expected to decrease from approximately 40.12% to 14.37% after subsequent closings, which are anticipated to occur by the end of 2026.
The company’s cash and cash equivalents stood at $9.5 million as of June 30, 2025, reflecting a net increase of $7.1 million during the first half of the year, primarily due to cash inflows from the sale of subsidiary interests. BeyondSpring continues to explore various financing options to support its ongoing clinical development and operational needs, as it anticipates significant expenses in the coming years related to its product candidates and regulatory activities.
Looking ahead, BeyondSpring remains focused on advancing its clinical trials for Plinabulin, which is being studied in multiple cancer indications. The company plans to file a New Drug Application (NDA) with the National Medical Products Administration (NMPA) in China, contingent upon successful trial outcomes. Despite the ongoing challenges in securing funding and navigating market conditions, BeyondSpring aims to leverage its strategic partnerships and research capabilities to enhance its product pipeline and ultimately achieve commercialization.
About BeyondSpring Inc.
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