Baird Initiates BeyondSpring With Outperform On Plinabulin Potential

BeyondSpring Inc’s BYSI lead candidate plinabulin is likely to receive approval around the Nov. 30 PDUFA date for chemotherapy-induced neutropenia (CIN), according to Baird.

The BeyondSpring Analyst: Joel Beatty initiated coverage of BeyondSpring with an Outperform rating and a price target of $50.

The BeyondSpring Thesis: There seems to be “strong market opportunity for plinabulin for CIN,” Beatty said in the initiation note.

“We conservatively project WW sales of plinabulin for the CIN indication alone reaching ~$500M/year in 2027,” he added.

The analyst further said that there are “several data points suggesting that plinabulin may have anticancer activity, providing several paths to upside.”

While plinabulin seems to be “well-positioned for China,” the “wholly owned targeted protein degradation subsidiary Seed Therapeutics appears underappreciated and validated” by the partnership with Eli Lilly and Co LLY, Beatty noted.

BYSI Price Action: Shares of BeyondSpring had risen by 5.69% to $24.32 at the time of publication Thursday.

Image by fernando zhiminaicela from Pixabay