BeyondSpring Cuts On-Third Of Its Workforce

BeyondSpring Inc BYSI plans to reduce its U.S. workforce by 35%, including reassignment of certain personnel to subsidiaries, which is expected to result in cost savings that will extend the cash runway.

• The reorganization follows the FDA Complete Response Letter for plinabulin marketing application to prevent chemotherapy-induced neutropenia (CIN).
• Related: BeyondSpring's New Plinabulin Data Shows Fast Onset In Preventing Chemo-Induced Neutropenia.
• From now on, BeyondSpring will prioritize:
  • The advancement of the regulatory process of plinabulin in CIN in China and the U.S.
  • NDA filing and regulatory process of non-small cell lung cancer (NSCLC) in the U.S. and China
  • Advancement of immune-oncology (IO) trials with plinabulin in triple combination IO therapy in various cancers.
• Price Action: BYSI shares closed at $4.38 on Tuesday.