6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 30, 2020

Commission File Number: 001-38024

BeyondSpring Inc.

BeyondSpring Inc.

28 Liberty Street, 39th Floor

New York, New York 10005

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

On September 3, 2020, BeyondSpring Inc. issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information contained in this report, except the second and third paragraphs of Exhibit 99.1, which contain certain quotes by the Chairman and Chief Executive Officer of BeyondSpring Inc., is hereby incorporated by reference into the Registration Statements on Form F-3, File No. 333-224437 and File No. 333-234193, and the Registration Statement on Form S-8, File No. 333-216639.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BeyondSpring Inc.
	By:	/s/ Lan Huang
	Name: Lan Huang
	Title: Chairman and Chief Executive Officer
Date: September 3,  2020

EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Press release, dated September 3, 2020.

EX-99.1

Exhibit 99.1

BeyondSpring Provides Second-Quarter 2020 Financial Results and Business Updates

- Reported Positive Topline Pre-Specified Interim Results from PROTECTIVE-2 (Study 106) Phase 3, Demonstrating Plinabulin’s Superiority in Combination with Neulasta for CIN Prevention vs. Neulasta Alone-

- Completed PROTECTIVE-2 Phase 3 Enrollment and On Track to Report Final Results in Q4 2020 / Expect to Submit NDA for CIN to the FDA by End of 2020 -

- Triple Plinabulin I/O Combination Achieved 100 Percent Complete Response in PD-1 Non-responsive Animal Model; To Initiate Clinical Studies at MD Anderson in H2 2020 -

NEW YORK, September 3, 2020 – BeyondSpring Inc. (the “Company” or “BeyondSpring”) (NASDAQ: BYSI), a global biopharmaceutical company focused on the development of innovative cancer therapies, announced today its financial results and provided an operational update for the three months ended June 30, 2020.

“BeyondSpring’s mission has been to develop innovative, transformative medicines that improve clinical outcomes in high unmet medical needs,” said Dr. Lan Huang, Co-Founder, Chairman and Chief Executive Officer of BeyondSpring. “With our lead asset, first-in-class agent Plinabulin in late stage developments in two large oncology market opportunities, CIN and NSCLC, we believe that we are at a significant inflection point that will potentially result in helping many patients in need.”

Dr. Huang continued, “We expect to file NDA for CIN, Plinabulin’s first indication, to the U.S. FDA by the end of the year. Plinabulin would potentially reduce infection and hospitalization after chemotherapy, and enable doctors to provide chemotherapy to their patients without compromise – this means stable doses, sustained cycles and the strongest regimens possible so that patients can stay the course with their treatment – for potential survival benefit.  As a potent antigen presenting cell inducer, we believe that Plinabulin is a ‘pipeline in a drug’ for multiple cancer indications.”

Select Second-Quarter 2020 and Recent Business Highlights

Recent Clinical Highlights

• Plinabulin in CIN indication

Positive Superior Topline Pre-Specified Interim Results from PROTECTIVE-2 Phase 3

In June 2020, BeyondSpring reported positive topline results of the pre-specified interim analysis of its PROTECTIVE-2 Phase 3 trial, evaluating Plinabulin in combination with Neulasta, compared to Neulasta alone. The interim results showed the combination’s significantly enhanced the efficacy of Neulasta in the “rate of Grade 4 neutropenia prevention” (p<0.01), the primary endpoint for the study, which is clinically meaningful. The enrollment of a total of 221 patients has been completed.

Expanded Access Program (EAP) Initiation

In August 2020, BeyondSpring initiated an EAP for Plinabulin in response to the recent NCCN guideline updates highlighting the need for maximum CIN prevention and resource allocation for COVID-19 patients. The program enables doctors across the U.S. to use Plinabulin, both alone and in combination with G-CSFs, to prevent CIN. The first patient dosed in the U.S. avoided Grade 4 neutropenia in Cycle 2 with the Plinabulin-Neulasta combination, despite experiencing Grade 4 neutropenia in Cycle 1 with Neulasta alone.

• Plinabulin in NSCLC indication

DSMB Recommends DUBLIN-3 (Study 103) Phase 3 for NSCLC to Continue Without Modification

In June 2020, BeyondSpring reported that it reached the pre-specified second interim analysis for DUBLIN-3 for NSCLC treatment with Plinabulin. Upon reviewing the efficacy and safety data of over 500 patients at an approximately 300-patient death event, the DSMB advised BeyondSpring to continue the study without any modifications. DUBLIN-3 is a global Phase 3 trial for Plinabulin in combination with docetaxel, compared to docetaxel alone, for the treatment of second- / third-line EGFR wild-type NSCLC.

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• Triple I/O Combination Therapy with Plinabulin

New Preclinical Data Demonstrates Immune-Enhancing Effects

In June 2020, BeyondSpring presented at the American Association for Cancer Research (AACR) Virtual Annual Meeting that the triple I/O combination of Plinabulin, anti-PD-1 and radiation demonstrated a 100 percent complete response in a PD-1 antibody model, indicating that Plinabulin enhances immuno-radiotherapy for cancer patients. The combination therapy is being advanced toward a Phase 1 clinical trial in patients who failed or progressed on PD-1 / PD-L1 antibody treatments. BeyondSpring expects the first patient dosing in H2 2020.

Recent Corporate Highlights

BeyondSpring Appoints Paul Friel to Chief Commercial Officer

In August 2020, BeyondSpring announced the appointment of Paul Friel to the role of Chief Commercial Officer. Mr. Friel has nearly 30 years of experience in the pharmaceutical and biotech industry. He has held positions as General Manager and President at Takeda Canada and Vice President of Sales for Vyaire. During his tenure with Takeda, Mr. Friel was instrumental in helping the organization expand its presence and grow to over 5,000 employees and $10 billion in sales.

Throughout Mr. Friel’s 24-years at TAP and Takeda, he served in multiple commercial roles and was responsible for business development, integration, geographic expansion and Head of Commercial for Latin America for Takeda. He later led Takeda expansions into Mexico, Brazil and Canada. In the last four years of Mr. Friel’s tenure at Takeda, he was integral for launching eight products, including the second fastest biologic launch in the U.S.

BeyondSpring Appoints Dr. Ravi Majeti to Board of Directors

During the same month, BeyondSpring also announced the appointment of Dr. Ravi Majeti, Co-Founder and former Board member of Forty Seven, Inc., and Chief, Division of Hematology, at Stanford University to the Company’s Board of Directors. Dr. Majeti co-founded Forty Seven in 2014 and was a major contributor to the research and technology that led to Forty Seven’s $4.9 billion acquisition by Gilead in March 2020.

Equity Financings

In June and July 2020, BeyondSpring closed a public offering of 2,219,500 ordinary shares and a private placement of 384,615 ordinary shares at $13.00 per share. Gross proceeds from the public offering and private placement were $33.9 million before deducting underwriting discounts, commissions and other offering expenses. The Company intends to use the net proceeds of the public offering and private placement to support the commercialization of Plinabulin, continued clinical and pre-clinical development and for general corporate purposes.

Financial Results for the Three Months Ended June 30, 2020

Research and development (“R&D”) expenses were $11.0 million for the quarter ended June 30, 2020, compared to $5.2 million for the quarter ended June 30, 2019. The $5.8 million increase was largely attributable to an increase of $4.9 million in clinical trial expenses.

General and administrative (“G&A”) expenses were $2.6 million for the quarter ended June 30, 2020, compared to $2.1 million for the quarter ended June 30, 2019. The $0.5 million increase was mainly due to an increase in cost related to pre-launch preparation of Plinabulin.

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Net loss attributable to the Company was $12.8 million for the quarter ended June 30, 2020, compared to $7.4 million for the quarter ended June 30, 2019.

As of June 30, 2020, the Company had a cash and cash equivalents of $38.1 million. The Company believes it has sufficient cash to support its clinical trials and submit an NDA in the U.S. for Plinabulin for the CIN indication, as well as to advance its immuno-oncology pipeline and protein degradation research platform.

Anticipated Milestones

The following outlines the Company’s anticipated upcoming milestones and projected timelines:

• Final data readout for PROTECTIVE-2 Phase 3 for CIN – Q4 2020

• NDA submission for Plinabulin for CIN in the U.S. – end of 2020

• Final topline data readout for DUBLIN-3 for NSCLC – H1 2021

• Rolling NDA submission for Plinabulin for NSCLC in China – H1 2021

• NDA submission for Plinabulin for NSCLC in the U.S. – H2 2021

Conference Call and Webcast Information

BeyondSpring’s management will host a conference call and webcast today at 8 a.m. Eastern Time to discuss the financial results and provide a corporate update. The dial-in numbers for the conference call are 1-877-451-6152 (U.S.) or 1-201-389-0879 (international). Please reference conference ID: 13709037. A live webcast will be available on BeyondSpring’s website at www.beyondspringpharma.com under “Events & Presentations” in the Investors section. An archived replay of the webcast will be available for 30 days.

About BeyondSpring

Headquartered in New York, BeyondSpring is a global, clinical-stage biopharmaceutical company focused on developing innovative immuno-oncology cancer therapies to improve clinical outcomes for patients with high unmet medical needs. BeyondSpring’s first-in-class lead immune asset, Plinabulin, is a potent antigen-presenting cell (APC) inducer. It is currently in two Phase 3 clinical trials for two severely unmet medical needs indications: one is for the prevention of chemotherapy-induced neutropenia (CIN), the most frequent cause for a chemotherapy regimen dose’s decrease, delay, downgrade or discontinuation, which can lead to suboptimal clinical outcomes. The other is for non-small cell lung cancer (NSCLC) treatment in EGFR wild-type patients. As a “pipeline drug,” Plinabulin is in various I/O combination studies to boost PD-1 / PD-L1 antibody anti-cancer effects. In addition to Plinabulin, BeyondSpring’s extensive pipeline includes three pre-clinical immuno-oncology assets and a drug discovery platform dubbed “molecular glue” that uses the protein degradation pathway.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements that are not historical facts. Words such as “will,” “expect,” “anticipate,” “plan,” “believe,” “design,” “may,” “future,” “estimate,” “predict,” “objective,” “goal,” or variations thereof and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on BeyondSpring’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, difficulties raising the anticipated amount needed to finance the Company’s future operations on terms acceptable to the Company, if at all, unexpected results of clinical trials, delays or denial in regulatory approval process, results that do not meet our expectations regarding the potential safety, the ultimate efficacy or clinical utility of our product candidates, increased competition in the market, and other risks described in BeyondSpring’s most recent Form 20-F on file with the U.S. Securities and Exchange Commission. All forward-looking statements made herein speak only as of the date of this release and BeyondSpring undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.

Contacts

Scott Eckstein / Caitlin Kasunich

KCSA Strategic Communications

212.896.1210 / 212.896.1241

seckstein@kcsa.com / ckasunich@kcsa.com

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BEYONDSPRING INC.

AUDITED CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2019 AND

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2020

(Amounts in thousands of U.S. Dollars (“$”), except for number of shares and per share data)

		December 31,		June 30,
	Note	2019		2020
		$		$
				(Unaudited)
Assets
Current assets:
Cash and cash equivalents		35,933		38,080
Advances to suppliers		4,519		4,330
Prepaid expenses and other current assets		410		567
Total current assets		40,862		42,977
Noncurrent assets:
Property and equipment, net	3	209		194
Operating lease right-of-use assets		2,538		2,464
Other noncurrent assets		946		1,088
Total noncurrent assets		3,693		3,746
Total assets		44,555		46,723
Liabilities and equity
Current liabilities:
Accounts payable		2,537		1,947
Accrued expenses		5,861		7,187
Due to related parties	5	29		61
Current portion of operating lease liabilities		537		649
Other current liabilities	11	1,089		1,462
Total current liabilities		10,053		11,306
Noncurrent liabilities:
Long-term loans	4	1,436		2,050
Operating lease liabilities		1,935		1,745
Total noncurrent liabilities		3,371		3,795
Total liabilities		13,424		15,101
Equity:
Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 27,885,613 and 30,117,881 shares issued and outstanding as of December 31, 2019 and June 30, 2020, respectively)	7	3		3
Additional paid-in capital	7	246,979		277,618
Accumulated deficit	7	(216,845	)	(245,682	)
Accumulated other comprehensive income	7	140		197
Total BeyondSpring Inc.’s shareholder’s equity		30,277		32,136
Noncontrolling interests	7	854		(514	)
Total equity		31,131		31,622
Total liabilities and equity		44,555		46,723

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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BEYONDSPRING INC.

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF

COMPREHENSIVE LOSS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2019 AND 2020

(Amounts in thousands of U.S. Dollars (“$”), except for number of shares and per share data)

(Unaudited)

		Three months ended						Six months ended
		June 30,						June 30,
	Note	2019			2020			2019			2020
			$			$			$			$
Revenue			-			-			-			-
Operating expenses
Research and development			(5,202	)		(11,028	)		(11,532	)		(24,732	)
General and administrative			(2,147	)		(2,589	)		(3,786	)		(5,517	)
Loss from operations			(7,349	)		(13,617	)		(15,318	)		(30,249	)
Foreign exchange gain (loss), net			(169	)		9			4			(65	)
Interest expense			(103	)		(21	)		(140	)		(42	)
Interest income			1			28			7			92
Other income			-			2			-			3
Loss before income tax			(7,620	)		(13,599	)		(15,447	)		(30,261	)
Income tax benefit	6		-			-			-			-
Net loss			(7,620	)		(13,599	)		(15,447	)		(30,261	)
Less: Net loss attributable to noncontrolling interests			(268	)		(846	)		(802	)		(1,424	)
Net loss attributable to BeyondSpring Inc.			(7,352	)		(12,753	)		(14,645	)		(28,837	)
Net loss per share
Basic and diluted	10		(0.32	)		(0.46	)		(0.64	)		(1.04	)
Weighted-average shares outstanding
Basic and diluted	10		23,094,161			27,921,026			23,061,941			27,826,737
Other comprehensive loss, net of tax of nil:
Foreign currency translation adjustment gain (loss)			225			(2	)		31			51
Comprehensive loss			(7,395	)		(13,601	)		(15,416	)		(30,210	)
Less: Comprehensive loss attributable to noncontrolling interests			(230	)		(848	)		(805	)		(1,430	)
Comprehensive loss attributable to BeyondSpring Inc.			(7,165	)		(12,753	)		(14,611	)		(28,780	)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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BEYONDSPRING INC.

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2019 AND 2020

 (Amounts in thousands of U.S. Dollars (“$”))

(Unaudited)

		Six months ended June 30,
	Note	2019			2020
		$			$
Operating activities:
Net loss			(15,447	)		(30,261	)
Adjustments to reconcile net loss to net cash from operating activities:
Share-based compensation	12		1,287			4,306
Depreciation expenses	3		41			32
Non-cash operating lease expense			260			296
Changes in operating assets and liabilities:
Advances to suppliers			86			189
Due from related parties			481			-
Prepaid expenses and other current assets			106			(115	)
Other noncurrent assets			(48	)		(142	)
Accounts payable			(1,130	)		(590	)
Accrued expenses			589			1,326
Due to related parties			25			-
Operating lease liabilities			(297	)		(300	)
Other current liabilities			944			(65	)
Net cash used in operating activities			(13,103	)		(25,324	)
Investing activities:
Acquisitions of property and equipment			(4	)		(17	)
Net cash used in investing activities			(4	)		(17	)
Financing activities:
Proceeds from issuance of ordinary shares, net of underwriting discounts and commissions			5,596			26,938
Payments of offering costs			(6	)		(147	)
Proceeds from loans	4		2,986			635
Proceeds from related party borrowings	5		1,350			32
Net cash provided by financing activities			9,926			27,458
Effect of foreign exchange rate changes, net			(34	)		30
Net increase/(decrease) in cash and cash equivalents			(3,215	)		2,147
Cash and cash equivalents at beginning of period			3,889			35,933
Cash and cash equivalents at end of period			674			38,080
Supplemental disclosures
Non-cash activities:
Operating right-of-use assets obtained in exchange for operating lease liabilities			-			222

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

1. Nature of the business and basis of preparation

BeyondSpring Inc. (the “Company”) was incorporated in the Cayman Islands on November 21, 2014. The Company and its subsidiaries (collectively, the “Group”) are principally engaged in clinical stage biopharmaceutical activities focused on the development of innovative cancer therapies. The Company is under the control of Mr. Linqing Jia and Dr. Lan Huang as a couple (collectively, the “Founders”) since its incorporation.

On May 21, 2019, the Company entered into a sales agreement with Jefferies LLC (“Jefferies”) to act as an agent in selling the Company’s ordinary shares in an at-the-market (“ATM”) offering program. As of June 30, 2020, the Company received aggregate gross proceeds of $13,185 on 630,228 ordinary shares sold in respect thereof.

In June 2020, the Company completed a public offering of an aggregate of 2,219,500 ordinary shares of the Company at a public offering price of $13.00 per share for net proceeds of $26,395.

On June 18, 2020, the Company entered into a share subscription agreement for the sale of an aggregate of 384,615 ordinary shares at $13.00 per share in a private placement transaction (the “Private Placement”). Gross proceeds of $5,000 was received in July 2020.

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BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

1. Nature of the business and basis of preparation (continued)

As of June 30, 2020, the subsidiaries of the Company are as follows:

 

Name of company	Place of incorporation	Date of incorporation	Percentage of ownership by the Company	Principal activities
BeyondSpring Pharmaceuticals Inc. (“BeyondSpring US”)	Delaware, United States of America (“U.S.”)	June 18, 2013	100%	Clinical trial activities
BeyondSpring Ltd.	The British Virgin Islands (“BVI”)	December 3, 2014	100%	Holding company
BeyondSpring (HK) Limited (“BeyondSpring HK”)	Hong Kong	January 13, 2015	100%	Holding company
Wanchun Biotechnology Limited (“BVI Biotech”)	BVI	April 1, 2015	100%	Holding company
Wanchun Biotechnology (Shenzhen) Ltd. (“Wanchun Shenzhen”)	The People’s Republic of China (“PRC”)	April 23, 2015	100%	Holding company
Dalian Wanchunbulin Pharmaceuticals Ltd. (“Wanchunbulin”)	PRC	May 6, 2015	57.97%	Clinical trial activities
BeyondSpring Pharmaceuticals Australia PTY Ltd. (“BeyondSpring Australia”)	Australia	March 3, 2016	100%	Clinical trial activities
Beijing Wanchun Pharmaceutical Technology Ltd. (“Beijing Wanchun”)	PRC	May 21, 2018	57.97%	Clinical trial activities
SEED Therapeutics Inc. (“SEED”)	BVI	June 25, 2019	100%	Holding company
SEED Technology Limited (“SEED Technology”)	BVI	December 9, 2019	57.97%	Holding company

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BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

1. Nature of the business and basis of preparation (continued)

The accompanying unaudited interim condensed consolidated balance sheet as of June 30, 2020, the unaudited interim condensed consolidated statements of comprehensive loss for the three and six months ended June 30, 2019 and 2020, the cash flows for the six months ended June 30, 2019 and 2020, and the related footnote disclosures are unaudited. These unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) for interim financial information using accounting policies that are consistent with those used in the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2019. Accordingly, these unaudited interim condensed consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements.

In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all normal recurring adjustments necessary to present fairly the financial position, operating results and cash flows of the Company for each of the periods presented. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of results to be expected for any other interim period or for the full year of 2020. The consolidated balance sheet as of December 31, 2019 was derived from the audited consolidated financial statements at that date but does not include all of the disclosures required by U.S. GAAP for annual financial statements. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2019.

2. Summary of significant accounting policies

Basis of consolidation

The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation.

Going concern

According to Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements - Going Concern (“ASC 205-40”), management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the company’s ability to continue as a going concern within one year after the date that the financial statements are issued. This evaluation initially does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued, and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued.

The Company has incurred operating losses and negative cash flows from operations since inception. To date, the Company has no product revenue and management expects operating losses to continue for the foreseeable future, and has primarily funded these losses through equity financings. The Company incurred a net loss of $30,261 during the six months ended June 30, 2020 and has an accumulated deficit of $245,682 as of June 30, 2020. Net cash used in operations was approximately $25,324 for the six months ended June 30, 2020. As of June 30, 2020, the Company had $31,671 net current assets and $38,080 cash and cash equivalents on hand.

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BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

2. Summary of significant accounting policies (continued)

Going concern (continued)

Based on the Company’s cash and cash equivalents on hand at June 30, 2020 and the $5,000 proceeds received in July 2020 from the Private Placement, management does not believe that there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date these financial statements are issued. The accompanying unaudited interim condensed consolidated financial statements have been prepared on a going concern basis.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to share-based compensation, clinical trial accrual, valuation allowance for deferred tax assets, estimating uncertain tax position, measurement of operating right-of-use assets and lease liabilities and estimating of useful life for property and equipment. Management bases the estimates on historical experience, known trends and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.

Fair value measurements

The Company measures certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows:

• Level 1— Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2— Other inputs that are directly or indirectly observable in the marketplace.

• Level 3— Unobservable inputs which are supported by little or no market activity.

ASC 820, Fair Value Measurements and Disclosures (“ASC 820”) describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

Financial instruments of the Company primarily include cash, due to related parties, accounts payable and long-term loans. Except for the long-term loans, the carrying values of these financial instruments approximated their fair value due to their short-term nature as of December 31, 2019 and June 30, 2020.

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BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

2. Summary of significant accounting policies (continued)

Fair value measurements (continued)

As of December 31, 2019 and June 30, 2020, the total carrying amount of long-term loans was $1,436 and $2,050, compared with an estimated fair value of $1,373 and $1,925, respectively. The fair value of the long-term loans is estimated by discounting cash flows using interest rates currently available for debts with similar terms and maturities (Level 2 fair value measurement).

Recent accounting pronouncements

New accounting standard that have not yet been adopted

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This update simplifies the accounting for income taxes as part of the FASB’s overall initiative to reduce complexity in accounting standards. The amendments include removal of certain exceptions to the general principles of ASC 740, and simplification in several other areas such as accounting for a franchise tax (or similar tax) that is partially based on income. The update is effective in fiscal years beginning after December 15, 2020, and interim periods therein, and early adoption is permitted. Certain amendments in this update should be applied retrospectively or modified retrospectively, all other amendments should be applied prospectively. The Company is currently evaluating the impact on its financial statements of adopting this guidance.

3. Property and equipment, net

Property and equipment consist of the following:

	December 31, 2019			June 30, 2020
		$			$
				(Unaudited)
Office equipment		150			158
Laboratory equipment		114			113
Motor vehicles		23			22
Leasehold improvements		103			114
		390			407
Less: accumulated depreciation		(181	)		(213	)
Property and equipment, net		209			194

Depreciation expenses for the three and six months ended June 30, 2019 were $23 and $41, respectively. Depreciation expenses for the three and six months ended June 30, 2020 were $17 and $32, respectively.

11

BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

4. Long-term loans

On March 28, 2019, the Company borrowed a three-year term loan with a principal amount of $1,493 (RMB10,000) from China Construction Bank, which bears an annual interest rate of 120.0% of the three-year loan interest rate quoted by the People’s Bank of China. The loan is guaranteed by the shareholder of the Company, Shenzhen Sangel Capital Management Limited Company (“Shenzhen Sangel”) and Mr. Mulong Liu, a shareholder of Shenzhen Sangel. The maturity date of the loan is March 28, 2022.

On May 3, 2020, the Company obtained a two-year term loan with a principal amount of $635 from Citibank, North America (“Citibank”) under a Paycheck Protection Program initiated by U.S. Small Business Administration. The loan bears an annual interest rate of 1%. Under the Paycheck Protection Program, the Company is eligible to apply for forgiveness of the loan in an amount equal to the sum of certain qualified costs.

5. Related party transactions

Loan from related parties

In October and December 2019, the Company borrowed 60-day interest-free loans totaling of $29 (RMB200) from Dalian Wanchun Biotechnology Co., Ltd. (“Wanchun Biotech”). During the six months ended June 30, 2020, the Company borrowed 60-day interest-free loans totaling of $32 (RMB230) from Wanchun Biotech. The maturity of the loans was extended to October 2020.

6. Income taxes

There is no provision for income taxes because the Company and its subsidiaries were in a cumulative loss position for the three and six months ended June 30, 2019 and 2020.

The Company recorded a full valuation allowance against deferred tax assets for all periods presented. There were no material changes in unrecognized tax benefits and related interest and penalties for the three and six months ended June 30, 2020. The Company does not anticipate that the amount of existing unrecognized tax benefits will significantly change within the next 12 months.

12

BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

7. Equity (deficit)

The movement of equity (deficit) is as follows:

	BeyondSpring Inc.’s shareholders
	Ordinary share				Additional paid-in			Accumulated			Accumulated other comprehensive		Subtotal			Non controlling			Total equity
	Shares		Amount		capital			deficit			(loss) gain					interests			(deficit)
				$		$			$			$		$			$			$
Balances at January 1, 2020 (audited)		27,885,613		3		246,979			(216,845	)		140		30,277			854			31,131
Issuance of ordinary shares		2,228,975		-		26,395			-			-		26,395			-			26,395
Share-based compensation		3,293		-		4,244			-			-		4,244			62			4,306
Foreign currency translation adjustment gain (loss)		-		-		-			-			57		57			(6	)		51
Net loss		-		-		-			(28,837	)		-		(28,837	)		(1,424	)		(30,261	)
Balances at June 30, 2020 (unaudited)		30,117,881		3		277,618			(245,682	)		197		32,136			(514	)		31,622
Balances at January 1, 2019 (audited)		23,184,612		2		170,950			(178,760	)		42		(7,766	)		(1,616	)		(9,382	)
Issuance of ordinary shares		309,868		-		5,429			-			-		5,429			-			5,429
Share-based compensation		100,000		-		1,287			-			-		1,287			-			1,287
Capital injection shared by noncontrolling interests		-		-		(578	)		-			-		(578	)		578			-
Foreign currency translation adjustment gain (loss)		-		-		-			-			34		34			(3	)		31
Net loss		-		-		-			(14,645	)		-		(14,645	)		(802	)		(15,447	)
Balances at June 30, 2019 (unaudited)		23,594,480		2		177,088			(193,405	)		76		(16,239	)		(1,843	)		(18,082	)

8. Restricted net assets

As a result of PRC laws and regulations, the Company’s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. As of December 31, 2019 and June 30, 2020, amounts restricted were the net assets of the Company’s PRC subsidiaries, which amounted to $2,032 and nil, respectively.

9. Employee defined contribution plan

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the Company’s PRC subsidiaries make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The Company has no legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefits, which were expensed as incurred, were $18 and $39 for the three and six months ended June 30, 2019 and were $21 and $47 for the three and six months ended June 30, 2020, respectively.

13

BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

10. Net loss per share

Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows:

	Three months ended June 30,						Six months ended June 30,
	2019 (Unaudited)			2020 (Unaudited)			2019 (Unaudited)			2020 (Unaudited)
Numerator:
Net loss attributable to BeyondSpring Inc.—basic and diluted	$	(7,352	)	$	(12,753	)	$	(14,645	)	$	(28,837	)
Denominator:
Weighted average number of ordinary shares outstanding—basic and diluted		23,094,161			27,921,026			23,061,941			27,826,737
Net loss per share —basic and diluted	$	(0.32	)	$	(0.46	)	$	(0.64	)	$	(1.04	)

The effects of restricted shares and share options were excluded from the calculation of diluted loss per share as their effect would have been anti-dilutive during the three and six months ended June 30, 2019 and 2020.

11. Supplemental balance sheet information

Other current liabilities consist of the following:

	As of December 31, 2019		As of June 30, 2020
		$		$
			(Unaudited)
Compensation related		226		228
Professional services		-		374
Other taxes related		798		815
Others		65		45
Total		1,089		1,462

14

BEYONDSPRING INC.

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”), except for number of shares and per share data)

12. Share-based compensation

During the six months ended June 30, 2020, the Company granted a total of 381,420 share options and 3,293 restricted shares, respectively.

The following table summarizes total share-based compensation expense recognized for the three and six months ended June 30, 2019 and 2020:

	Three months ended June 30,				Six months ended June 30,
	2019		2020		2019		2020
		$		$		$		$
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Research and development		220		568		376		3,751
General and administrative		696		268		911		555
Total		916		836		1,287		4,306

15

XML

Document And Entity Information	6 Months Ended
	Jun. 30, 2020
Document Information [Line Items]
Entity Registrant Name	BeyondSpring Inc.
Entity Central Index Key	0001677940
Current Fiscal Year End Date	--12-31
Document Type	6-K
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

XML

Audited Consolidated Balance Sheet as of December 31, 2019 and Unaudited Interim Condensed Consolidated Balance Sheet as of June 30, 2020 - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 38,080	$ 35,933
Advances to suppliers	4,330	4,519
Prepaid expenses and other current assets	567	410
Total current assets	42,977	40,862
Noncurrent assets:
Property and equipment, net	194	209
Operating lease right-of-use assets	2,464	2,538
Other noncurrent assets	1,088	946
Total noncurrent assets	3,746	3,693
Total assets	46,723	44,555
Current liabilities:
Accounts payable	1,947	2,537
Accrued expenses	7,187	5,861
Due to related parties	61	29
Current portion of operating lease liabilities	649	537
Other current liabilities	1,462	1,089
Total current liabilities	11,306	10,053
Noncurrent liabilities:
Long-term loans	2,050	1,436
Operating lease liabilities	1,745	1,935
Total noncurrent liabilities	3,795	3,371
Total liabilities	15,101	13,424
Equity:
Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 27,885,613 and 30,117,881 shares issued and outstanding as of December 31, 2019 and June 30, 2020, respectively)	3	3
Additional paid-in capital	277,618	246,979
Accumulated deficit	(245,682)	(216,845)
Accumulated other comprehensive income	197	140
Total BeyondSpring Inc.’s shareholder’s equity	32,136	30,277
Noncontrolling interests	(514)	854
Total equity	31,622	31,131
Total liabilities and equity	$ 46,723	$ 44,555

XML

Audited Consolidated Balance Sheet as of December 31, 2019 and Unaudited Interim Condensed Consolidated Balance Sheet as of June 30, 2020 (Parentheticals) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Ordinary shares, par value (in dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, authorized (in shares)	500,000,000	500,000,000
Ordinary shares, issued (in shares)	30,117,881	27,885,613
Ordinary shares, outstanding (in shares)	30,117,881	27,885,613

XML

Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended June 30, 2019 and 2020 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue			$ 0
Operating expenses
Research and development	(11,028)	(5,202)	(24,732)	(11,532)
General and administrative	(2,589)	(2,147)	(5,517)	(3,786)
Loss from operations	(13,617)	(7,349)	(30,249)	(15,318)
Foreign exchange gain (loss), net	9	(169)	(65)	4
Interest expense	(21)	(103)	(42)	(140)
Interest income	28	1	92	7
Other income	2		3
Loss before income tax	(13,599)	(7,620)	(30,261)	(15,447)
Income tax benefit	0	0	0	0
Net loss	(13,599)	(7,620)	(30,261)	(15,447)
Less: Net loss attributable to noncontrolling interests	(846)	(268)	(1,424)	(802)
Net loss attributable to BeyondSpring Inc.	$ (12,753)	$ (7,352)	$ (28,837)	$ (14,645)
Net loss per share
Basic and diluted (in dollars per share)	$ (0.46)	$ (0.32)	$ (1.04)	$ (0.64)
Weighted-average shares outstanding
Basic and diluted (in shares)	27,921,026	23,094,161	27,826,737	23,061,941
Other comprehensive loss, net of tax of nil:
Foreign currency translation adjustment gain (loss)	$ (2)	$ 225	$ 51	$ 31
Comprehensive loss	(13,601)	(7,395)	(30,210)	(15,416)
Less: Comprehensive loss attributable to noncontrolling interests	(848)	(230)	(1,430)	(805)
Comprehensive loss attributable to BeyondSpring Inc.	$ (12,753)	$ (7,165)	$ (28,780)	$ (14,611)

XML

Unaudited Interim Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2019 and 2020 - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net loss	$ (30,261)	$ (15,447)
Adjustments to reconcile net loss to net cash from operating activities:
Share-based compensation	4,306	1,287
Depreciation expenses	32	41
Non-cash operating lease expense	296	260
Changes in operating assets and liabilities:
Advances to suppliers	189	86
Due from related parties		481
Prepaid expenses and other current assets	(115)	106
Other noncurrent assets	(142)	(48)
Accounts payable	(590)	(1,130)
Accrued expenses	1,326	589
Due to related parties		25
Operating lease liabilities	(300)	(297)
Other current liabilities	(65)	944
Net cash used in operating activities	(25,324)	(13,103)
Investing activities:
Acquisitions of property and equipment	(17)	(4)
Net cash used in investing activities	(17)	(4)
Financing activities:
Proceeds from issuance of ordinary shares, net of underwriting discounts and commissions	26,938	5,596
Payments of offering costs	(147)	(6)
Proceeds from loans	635	2,986
Proceeds from related party borrowings	32	1,350
Net cash provided by financing activities	27,458	9,926
Effect of foreign exchange rate changes, net	30	(34)
Net increase/(decrease) in cash and cash equivalents	2,147	(3,215)
Cash and cash equivalents at beginning of period	35,933	3,889
Cash and cash equivalents at end of period	38,080	674
Non-cash activities:
Operating right-of-use assets obtained in exchange for operating lease liabilities	$ 222

XML

Note 1 - Nature of the Business and Basis of Preparation

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Nature of Operations [Text Block]

1. Nature of the business and basis of preparation

BeyondSpring Inc. (the “Company”) was incorporated in the Cayman Islands on

November 21, 2014.

The Company and its subsidiaries (collectively, the “Group”) are principally engaged in clinical stage biopharmaceutical activities focused on the development of innovative cancer therapies. The Company is under the control of Mr. Linqing Jia and Dr. Lan Huang as a couple (collectively, the “Founders”) since its incorporation.

On

May 21, 2019,

the Company entered into a sales agreement with Jefferies LLC (“Jefferies”) to act as an agent in selling the Company's ordinary shares in an at-the-market (“ATM”) offering program. As of

June 30, 2020,

the Company received aggregate gross proceeds of

$13,185

on

630,228

ordinary shares sold in respect thereof.

In

June 2020,

the Company completed a public offering of an aggregate of

2,219,500

ordinary shares of the Company at a public offering price of

$13.00

per share for net proceeds of

$26,395.

On

June 18, 2020,

the Company entered into a share subscription agreement for the sale of an aggregate of

384,615

ordinary shares at

$13.00

per share in a private placement transaction (the “Private Placement”). Gross proceeds of

$5,000

was received in

July 2020.

As of

June 30, 2020,

the subsidiaries of the Company are as follows:

Name of company	Place of incorporation	Date of incorporation	Percentage of ownership by the Company	Principal activities
BeyondSpring
Pharmaceuticals Inc.	Delaware,
(“BeyondSpring US ”)	United States of America (“U.S.”)	June 18, 2013	100%	Clinical trial activities
BeyondSpring Ltd.	The British Virgin Islands (“BVI”)	December 3, 2014	100%	Holding company
BeyondSpring (HK) Limited
(“BeyondSpring HK”)	Hong Kong	January 13, 2015	100%	Holding company
Wanchun Biotechnology
Limited (“BVI Biotech”)	BVI	April 1, 2015	100%	Holding company
Wanchun Biotechnology
(Shenzhen) Ltd.	The People's Republic of China
(“Wanchun Shenzhen”)	(“PRC”)	April 23, 2015	100%	Holding company
Dalian Wanchunbulin
Pharmaceuticals Ltd.
(“Wanchunbulin”)	PRC	May 6, 2015	57.97%	Clinical trial activities
BeyondSpring Pharmaceuticals
Australia PTY Ltd.
(“BeyondSpring Australia”)	Australia	March 3, 2016	100%	Clinical trial activities
Beijing Wanchun Pharmaceutical
Technology Ltd.
(“Beijing Wanchun”)	PRC	May 21, 2018	57.97%	Clinical trial activities
SEED Therapeutics Inc.
(“SEED”)	BVI	June 25, 2019	100%	Holding company
SEED Technology Limited
(“SEED Technology”)	BVI	December 9, 2019	57.97%	Holding company

The accompanying unaudited interim condensed consolidated balance sheet as of

June 30, 2020,

the unaudited interim condensed consolidated statements of comprehensive loss for the

three

and

six

months ended

June 30, 2019

and

2020,

the cash flows for the

six

months ended

June 30, 2019

and

2020,

and the related footnote disclosures are unaudited. These unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) for interim financial information using accounting policies that are consistent with those used in the preparation of the Company's audited consolidated financial statements for the year ended

December 31, 2019.

Accordingly, these unaudited interim condensed consolidated financial statements do

not

include all of the information and footnotes required by U.S. GAAP for annual financial statements.

In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all normal recurring adjustments necessary to present fairly the financial position, operating results and cash flows of the Company for each of the periods presented. The results of operations for the

three

and

six

months ended

June 30, 2020

are

not

necessarily indicative of results to be expected for any other interim period or for the full year of

2020.

The consolidated balance sheet as of

December 31, 2019

was derived from the audited consolidated financial statements at that date but does

not

include all of the disclosures required by U.S. GAAP for annual financial statements. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company's consolidated financial statements for the year ended

December 31, 2019.

XML

Note 2 - Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Significant Accounting Policies [Text Block]

2. Summary of significant accounting policies

Basis of consolidation

The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation.

Going concern

According to Accounting Standards Codification (“ASC”)

205

-

40,

Presentation of Financial Statements - Going Concern

(“ASC

205

-

40”

), management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the company's ability to continue as a going concern within

one

year after the date that the financial statements are issued. This evaluation initially does

not

take into consideration the potential mitigating effect of management's plans that have

not

been fully implemented as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the company's ability to continue as a going concern. The mitigating effect of management's plans, however, is only considered if both (

1

) it is probable that the plans will be effectively implemented within

one

year after the date that the financial statements are issued, and (

2

) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within

one

year after the date that the financial statements are issued.

The Company has incurred operating losses and negative cash flows from operations since inception. To date, the Company has

no

product revenue and management expects operating losses to continue for the foreseeable future, and has primarily funded these losses through equity financings. The Company incurred a net loss of

$30,261

during the

six

months ended

June 30, 2020

and has an accumulated deficit of

$245,682

as of

June 30, 2020.

Net cash used in operations was approximately

$25,324

for the

six

months ended

June 30, 2020.

As of

June 30, 2020,

the Company had

$31,671

net current assets and

$38,080

cash and cash equivalents on hand.

Based on the Company's cash and cash equivalents on hand at

June 30, 2020

and the

$5,000

proceeds received in

July 2020

from the Private Placement, management does

not

believe that there is substantial doubt about the Company's ability to continue as a going concern within

one

year after the date these financial statements are issued. The accompanying unaudited interim condensed consolidated financial statements have been prepared on a going concern basis.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are

not

limited to share-based compensation, clinical trial accrual, valuation allowance for deferred tax assets, estimating uncertain tax position, measurement of operating right-of-use assets and lease liabilities and estimating of useful life for property and equipment. Management bases the estimates on historical experience, known trends and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.

Fair value measurements

The Company measures certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a

three

-level hierarchy, as follows:

• Level 1— Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2— Other inputs that are directly or indirectly observable in the marketplace.

• Level 3— Unobservable inputs which are supported by little or no market activity.

ASC

820,

Fair Value Measurements and Disclosures

(“ASC

820”

) describes

three

main approaches to measuring the fair value of assets and liabilities: (

1

) market approach; (

2

) income approach and (

3

) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

Financial instruments of the Company primarily include cash, due to related parties, accounts payable and long-term loans. Except for the long-term loans, the carrying values of these financial instruments approximated their fair value due to their short-term nature as of

December 31, 2019

and

June 30, 2020.

As of

December 31, 2019

and

June 30, 2020,

the total carrying amount of long-term loans was

$1,436

and

$2,050,

compared with an estimated fair value of

$1,373

and

$1,925,

respectively. The fair value of the long-term loans is estimated by discounting cash flows using interest rates currently available for debts with similar terms and maturities (Level

2

fair value measurement).

Recent accounting pronouncements

New accounting standard that have

not

yet been adopted

In

December 2019,

the FASB issued ASU

2019

-

12,

 Income Taxes (Topic

740

):

Simplifying the Accounting for Income Taxes

. This update simplifies the accounting for income taxes as part of the FASB's overall initiative to reduce complexity in accounting standards. The amendments include removal of certain exceptions to the general principles of ASC

740,

and simplification in several other areas such as accounting for a franchise tax (or similar tax) that is partially based on income. The update is effective in fiscal years beginning after

December 15, 2020,

and interim periods therein, and early adoption is permitted. Certain amendments in this update should be applied retrospectively or modified retrospectively, all other amendments should be applied prospectively. The Company is currently evaluating the impact on its financial statements of adopting this guidance.

XML

Note 3 - Property and Equipment, Net

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

3. Property and equipment, net

Property and equipment consist of the following:

	December 31,		June 30,
	2019		2020
	$		$
			(Unaudited)
Office equipment	150		158
Laboratory equipment	114		113
Motor vehicles	23		22
Leasehold improvements	103		114
	390		407
Less: accumulated depreciation	(181	)	(213	)
Property and equipment, net	209		194

Depreciation expenses for the

three

and

six

months ended

June 30, 2019

were

$23

and

$41,

respectively. Depreciation expenses for the

three

and

six

months ended

June 30, 2020

were

$17

and

$32,

respectively.

XML

Note 4 - Long-term Loans

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Long-term Debt [Text Block]

4. Long-term loans

On

March 28, 2019,

the Company borrowed a

three

-year term loan with a principal amount of

$1,493

(

RMB10,000

) from China Construction Bank, which bears an annual interest rate of

120.0%

of the

three

-year loan interest rate quoted by the People's Bank of China. The loan is guaranteed by the shareholder of the Company, Shenzhen Sangel Capital Management Limited Company (“Shenzhen Sangel”) and Mr. Mulong Liu, a shareholder of Shenzhen Sangel. The maturity date of the loan is

March 28, 2022.

On

May 3, 2020,

the Company obtained a

two

-year term loan with a principal amount of

$635

from Citibank, North America (“Citibank”) under a Paycheck Protection Program initiated by U.S. Small Business Administration. The loan bears an annual interest rate of

1%.

Under the Paycheck Protection Program, the Company is eligible to apply for forgiveness of the loan in an amount equal to the sum of certain qualified costs.

XML

Note 5 - Related Party Transactions

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

5. Related party transactions

Loan from related parties

In

October

and

December 2019,

the Company borrowed

60

-day interest-free loans totaling of

$29

(

RMB200

) from Dalian Wanchun Biotechnology Co., Ltd. (“Wanchun Biotech”). During the

six

months ended

June 30, 2020,

the Company borrowed

60

-day interest-free loans totaling of

$32

(

RMB230

) from Wanchun Biotech. The maturity of the loans was extended to

October 2020.

XML

Note 6 - Income Taxes

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Income Tax Disclosure [Text Block]

6. Income taxes

There is

no

provision for income taxes because the Company and its subsidiaries were in a cumulative loss position for the

three

and

six

months ended

June 30, 2019

and

2020.

The Company recorded a full valuation allowance against deferred tax assets for all periods presented. There were

no

material changes in unrecognized tax benefits and related interest and penalties for the

three

and

six

months ended

June 30, 2020.

The Company does

not

anticipate that the amount of existing unrecognized tax benefits will significantly change within the next

12

months.

XML

Note 7 - Equity (Deficit)

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

7. Equity (deficit)

The movement of equity (deficit) is as follows

:

	BeyondSpring Inc.'s shareholders
							Accumulated
			Additional				other			Non		Total
	Ordinary share		paid-in		Accumulated		comprehensive	Subtotal		controlling		equity
	Shares	Amount	capital		deficit		(loss) gain			interests		(deficit)
		$	$		$		$	$		$		$
Balances at January 1, 2020 (audited)	27,885,613	3	246,979		(216,845	)	140	30,277		854		31,131
Issuance of ordinary shares	2,228,975	-	26,395		-		-	26,395		-		26,395
Share-based compensation	3,293	-	4,244		-		-	4,244		62		4,306
Foreign currency translation adjustment gain (loss)	-	-	-		-		57	57		(6	)	51
Net loss	-	-	-		(28,837	)	-	(28,837	)	(1,424	)	(30,261	)
Balances at June 30, 2020 (unaudited)	30,117,881	3	277,618		(245,682	)	197	32,136		(514	)	31,622
Balances at January 1, 2019 (audited)	23,184,612	2	170,950		(178,760	)	42	(7,766	)	(1,616	)	(9,382	)
Issuance of ordinary shares	309,868	-	5,429		-		-	5,429		-		5,429
Share-based compensation	100,000	-	1,287		-		-	1,287		-		1,287
Capital injection shared by noncontrolling interests	-	-	(578	)	-		-	(578	)	578		-
Foreign currency translation adjustment gain (loss)	-	-	-		-		34	34		(3	)	31
Net loss	-	-	-		(14,645	)	-	(14,645	)	(802	)	(15,447	)
Balances at June 30, 2019 (unaudited)	23,594,480	2	177,088		(193,405	)	76	(16,239	)	(1,843	)	(18,082	)

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Note 8 - Restricted Net Assets

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Restricted Assets Disclosure [Text Block]

8. Restricted net assets

As a result of PRC laws and regulations, the Company's PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. As of

December 31, 2019

and

June 30, 2020,

amounts restricted were the net assets of the Company's PRC subsidiaries, which amounted to

$2,032

and

nil,

respectively.

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Note 9 - Employee Defined Contribution Plan

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

9. Employee defined contribution plan

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the Company's PRC subsidiaries make contributions to the government for these benefits based on certain percentages of the employees' salaries. The Company has

no

legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefits, which were expensed as incurred, were

$18

and

$39

for the

three

and

six

months ended

June 30, 2019

and were

$21

and

$47

for the

three

and

six

months ended

June 30, 2020,

respectively.

XML

Note 10 - Net Loss Per Share

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

10. Net loss per share

Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows:

	Three months ended						Six months ended
	June 30,						June 30,
		2019			2020			2019			2020
		(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Numerator:
Net loss attributable to BeyondSpring Inc.
—basic and diluted	$	(7,352	)	$	(12,753	)	$	(14,645	)	$	(28,837	)
Denominator:
Weighted average number of ordinary shares outstanding—basic and diluted		23,094,161			27,921,026			23,061,941			27,826,737
Net loss per share —basic and diluted	$	(0.32	)	$	(0.46	)	$	(0.64	)	$	(1.04	)

The effects of restricted shares and share options were excluded from the calculation of diluted loss per share as their effect would have been anti-dilutive during the

three

and

six

months ended

June 30, 2019

and

2020.

XML

Note 11 - Supplemental Balance Sheet Information

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

11. Supplemental balance sheet information

Other current liabilities consist of the following:

	As of December 31,	As of June 30,
	2019	2020
	$	$
		(Unaudited)
Compensation related	226	228
Professional services	-	374
Other taxes related	798	815
Others	65	45
Total	1,089	1,462

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Note 12 - Share-based Compensation

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

12. Share-based compensation

During the

six

months ended

June 30, 2020,

the Company granted a total of

381,420

share options and

3,293

restricted shares, respectively.

The following table summarizes total share-based compensation expense recognized for the

three

and

six

months ended

June 30, 2019

and

2020:

	Three months ended			Six months ended
	June 30,			June 30,
		2019	2020		2019	2020
		$	$		$	$
		(Unaudited)	(Unaudited)		(Unaudited)	(Unaudited)
Research and development		220	568		376	3,751
General and administrative		696	268		911	555
Total		916	836		1,287	4,306

XML

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of consolidation

The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation.

Going Concern, Policy [Policy Text Block}

Going concern

According to Accounting Standards Codification (“ASC”)

205

-

40,

Presentation of Financial Statements - Going Concern

(“ASC

205

-

40”

), management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the company's ability to continue as a going concern within

one

year after the date that the financial statements are issued. This evaluation initially does

not

take into consideration the potential mitigating effect of management's plans that have

not

been fully implemented as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the company's ability to continue as a going concern. The mitigating effect of management's plans, however, is only considered if both (

1

) it is probable that the plans will be effectively implemented within

one

year after the date that the financial statements are issued, and (

2

) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within

one

year after the date that the financial statements are issued.

The Company has incurred operating losses and negative cash flows from operations since inception. To date, the Company has

no

product revenue and management expects operating losses to continue for the foreseeable future, and has primarily funded these losses through equity financings. The Company incurred a net loss of

$30,261

during the

six

months ended

June 30, 2020

and has an accumulated deficit of

$245,682

as of

June 30, 2020.

Net cash used in operations was approximately

$25,324

for the

six

months ended

June 30, 2020.

As of

June 30, 2020,

the Company had

$31,671

net current assets and

$38,080

of cash and cash equivalents on hand.

Based on the Company's cash and cash equivalents on hand at

June 30, 2020

and the

$5,000

proceeds received in

July 2020

from the Private Placement, management does

not

believe that there is substantial doubt about the Company's ability to continue as a going concern within

one

year after the date these financial statements are issued. The accompanying unaudited interim condensed consolidated financial statements have been prepared on a going concern basis.

Use of Estimates, Policy [Policy Text Block]

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are

not

limited to share-based compensation, clinical trial accrual, valuation allowance for deferred tax assets, estimating uncertain tax position, measurement of operating right-of-use assets and lease liabilities and estimating of useful life for property and equipment. Management bases the estimates on historical experience, known trends and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair value measurements

The Company measures certain financial assets and liabilities at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a

three

-level hierarchy, as follows:

• Level 1— Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2— Other inputs that are directly or indirectly observable in the marketplace.

• Level 3— Unobservable inputs which are supported by little or no market activity.

ASC

820,

Fair Value Measurements and Disclosures

(“ASC

820”

) describes

three

main approaches to measuring the fair value of assets and liabilities: (

1

) market approach; (

2

) income approach and (

3

) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

Financial instruments of the Company primarily include cash, due to related parties, accounts payable and long-term loans. Except for the long-term loans, the carrying values of these financial instruments approximated their fair value due to their short-term nature as of

December 31, 2019

and

June 30, 2020.

As of

December 31, 2019

and

June 30, 2020,

the total carrying amount of long-term loans was

$1,436

and

$2,050,

compared with an estimated fair value of

$1,373

and

$1,925,

respectively. The fair value of the long-term loans is estimated by discounting cash flows using interest rates currently available for debts with similar terms and maturities (Level

2

fair value measurement).

New Accounting Pronouncements, Policy [Policy Text Block]

Recent accounting pronouncements

New accounting standard that have

not

yet been adopted

In

December 2019,

the FASB issued ASU

2019

-

12,

 Income Taxes (Topic

740

):

Simplifying the Accounting for Income Taxes

. This update simplifies the accounting for income taxes as part of the FASB's overall initiative to reduce complexity in accounting standards. The amendments include removal of certain exceptions to the general principles of ASC

740,

and simplification in several other areas such as accounting for a franchise tax (or similar tax) that is partially based on income. The update is effective in fiscal years beginning after

December 15, 2020,

and interim periods therein, and early adoption is permitted. Certain amendments in this update should be applied retrospectively or modified retrospectively, all other amendments should be applied prospectively. The Company is currently evaluating the impact on its financial statements of adopting this guidance.

XML

Note 1 - Nature of the Business and Basis of Preparation (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Subsidiaries [Table Text Block]

Name of company	Place of incorporation	Date of incorporation	Percentage of ownership by the Company	Principal activities
BeyondSpring
Pharmaceuticals Inc.	Delaware,
(“BeyondSpring US ”)	United States of America (“U.S.”)	June 18, 2013	100%	Clinical trial activities
BeyondSpring Ltd.	The British Virgin Islands (“BVI”)	December 3, 2014	100%	Holding company
BeyondSpring (HK) Limited
(“BeyondSpring HK”)	Hong Kong	January 13, 2015	100%	Holding company
Wanchun Biotechnology
Limited (“BVI Biotech”)	BVI	April 1, 2015	100%	Holding company
Wanchun Biotechnology
(Shenzhen) Ltd.	The People's Republic of China
(“Wanchun Shenzhen”)	(“PRC”)	April 23, 2015	100%	Holding company
Dalian Wanchunbulin
Pharmaceuticals Ltd.
(“Wanchunbulin”)	PRC	May 6, 2015	57.97%	Clinical trial activities
BeyondSpring Pharmaceuticals
Australia PTY Ltd.
(“BeyondSpring Australia”)	Australia	March 3, 2016	100%	Clinical trial activities
Beijing Wanchun Pharmaceutical
Technology Ltd.
(“Beijing Wanchun”)	PRC	May 21, 2018	57.97%	Clinical trial activities
SEED Therapeutics Inc.
(“SEED”)	BVI	June 25, 2019	100%	Holding company
SEED Technology Limited
(“SEED Technology”)	BVI	December 9, 2019	57.97%	Holding company

XML

Note 3 - Property and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Property, Plant and Equipment [Table Text Block]

	December 31,		June 30,
	2019		2020
	$		$
			(Unaudited)
Office equipment	150		158
Laboratory equipment	114		113
Motor vehicles	23		22
Leasehold improvements	103		114
	390		407
Less: accumulated depreciation	(181	)	(213	)
Property and equipment, net	209		194

XML

Note 7 - Equity (Deficit) (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Stockholders Equity [Table Text Block]

	BeyondSpring Inc.'s shareholders
							Accumulated
			Additional				other			Non		Total
	Ordinary share		paid-in		Accumulated		comprehensive	Subtotal		controlling		equity
	Shares	Amount	capital		deficit		(loss) gain			interests		(deficit)
		$	$		$		$	$		$		$
Balances at January 1, 2020 (audited)	27,885,613	3	246,979		(216,845	)	140	30,277		854		31,131
Issuance of ordinary shares	2,228,975	-	26,395		-		-	26,395		-		26,395
Share-based compensation	3,293	-	4,244		-		-	4,244		62		4,306
Foreign currency translation adjustment gain (loss)	-	-	-		-		57	57		(6	)	51
Net loss	-	-	-		(28,837	)	-	(28,837	)	(1,424	)	(30,261	)
Balances at June 30, 2020 (unaudited)	30,117,881	3	277,618		(245,682	)	197	32,136		(514	)	31,622
Balances at January 1, 2019 (audited)	23,184,612	2	170,950		(178,760	)	42	(7,766	)	(1,616	)	(9,382	)
Issuance of ordinary shares	309,868	-	5,429		-		-	5,429		-		5,429
Share-based compensation	100,000	-	1,287		-		-	1,287		-		1,287
Capital injection shared by noncontrolling interests	-	-	(578	)	-		-	(578	)	578		-
Foreign currency translation adjustment gain (loss)	-	-	-		-		34	34		(3	)	31
Net loss	-	-	-		(14,645	)	-	(14,645	)	(802	)	(15,447	)
Balances at June 30, 2019 (unaudited)	23,594,480	2	177,088		(193,405	)	76	(16,239	)	(1,843	)	(18,082	)

XML

Note 10 - Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three months ended						Six months ended
	June 30,						June 30,
		2019			2020			2019			2020
		(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Numerator:
Net loss attributable to BeyondSpring Inc.
—basic and diluted	$	(7,352	)	$	(12,753	)	$	(14,645	)	$	(28,837	)
Denominator:
Weighted average number of ordinary shares outstanding—basic and diluted		23,094,161			27,921,026			23,061,941			27,826,737
Net loss per share —basic and diluted	$	(0.32	)	$	(0.46	)	$	(0.64	)	$	(1.04	)

XML

Note 11 - Supplemental Balance Sheet Information (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Other Current Liabilities [Table Text Block]

	As of December 31,	As of June 30,
	2019	2020
	$	$
		(Unaudited)
Compensation related	226	228
Professional services	-	374
Other taxes related	798	815
Others	65	45
Total	1,089	1,462

XML

Note 12 - Share-based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Three months ended			Six months ended
	June 30,			June 30,
		2019	2020		2019	2020
		$	$		$	$
		(Unaudited)	(Unaudited)		(Unaudited)	(Unaudited)
Research and development		220	568		376	3,751
General and administrative		696	268		911	555
Total		916	836		1,287	4,306

XML

Note 1 - Nature of the Business and Basis of Preparation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended		6 Months Ended
	Jun. 18, 2020	Mar. 21, 2019	Jul. 31, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Proceeds from Issuance of Common Stock					$ 26,938	$ 5,596
Public Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)				2,219,500
Shares Issued, Price Per Share (in dollars per share)				$ 13	$ 13
Proceeds from Issuance of Common Stock, Net				$ 26,395
Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	384,615
Shares Issued, Price Per Share (in dollars per share)	$ 13
Private Placement [Member] | Subsequent Event [Member]
Proceeds from Issuance of Common Stock			$ 5,000
Jefferies [Member]
Proceeds from Issuance of Common Stock		$ 13,185
Stock Issued During Period, Shares, New Issues (in shares)		630,228

XML

Note 1 - Nature of the Business and Basis of Preparation - Schedule of Subsidiaries (Details)	Jun. 30, 2020
BeyondSpring Pharmaceuticals Inc. [Member]
Equity method investment, ownership percentage
BeyondSpring U.S. [Member]
Equity method investment, ownership percentage	100.00%
BeyondSpring Ltd. [Member]
Equity method investment, ownership percentage	100.00%
BeyondSpring HK Limited [Member]
Equity method investment, ownership percentage	100.00%
BeyondSpring HK [Member]
Equity method investment, ownership percentage	100.00%
Wanchun Biotechnology Limited [Member]
Equity method investment, ownership percentage	100.00%
Wanchun Biotechnology (Shenzhen) Ltd. [Member]
Equity method investment, ownership percentage	100.00%
Dalian Wanchunbulin Pharmaceuticals Ltd. (“Wanchunbulin”) [Member]
Equity method investment, ownership percentage	57.97%
BeyondSpring Pharmaceuticals Australia PTY Ltd. (“BeyondSpring Australia”) [Member]
Equity method investment, ownership percentage	100.00%
Beijing Wanchun Pharmaceutical Technology Ltd. [Member]
Equity method investment, ownership percentage	57.97%
SEED Therapuetics Inc. [Member]
Equity method investment, ownership percentage	100.00%
SEED Technology Limited [Member]
Equity method investment, ownership percentage	57.97%

XML

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenue from Contract with Customer, Including Assessed Tax				$ 0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total		(13,599)	$ (7,620)	(30,261)	(15,447)
Retained Earnings (Accumulated Deficit), Ending Balance		(245,682)		(245,682)		$ (216,845)
Net Cash Provided by (Used in) Operating Activities, Total				(25,324)	(13,103)
Net Current Assets		31,671		31,671
Cash and Cash Equivalents, at Carrying Value, Ending Balance		38,080		38,080		35,933
Proceeds from Issuance of Common Stock				26,938	$ 5,596
Long-term Debt, Total		2,050		2,050		1,436
Long-term Debt, Fair Value		$ 1,925		$ 1,925		$ 1,373
Private Placement [Member] | Subsequent Event [Member]
Proceeds from Issuance of Common Stock	$ 5,000

XML

Note 3 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Depreciation, Total	$ 17	$ 23	$ 32	$ 41

XML

Note 3 - Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, plant, and equipment, gross	$ 407	$ 390
Less: accumulated depreciation	(213)	(181)
Property and equipment, net	194	209
Office Equipment [Member]
Property, plant, and equipment, gross	158	150
Laboratory Equipment [Member]
Property, plant, and equipment, gross	113	114
Automobiles [Member]
Property, plant, and equipment, gross	22	23
Leasehold Improvements [Member]
Property, plant, and equipment, gross	$ 114	$ 103

XML

Note 4 - Long-term Loans (Details Textual) $ in Thousands, ¥ in Millions	May 03, 2020 USD ($)	Mar. 28, 2019 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)	Mar. 28, 2019 CNY (¥)
Long-term Debt, Total			$ 2,050	$ 1,436
Term Loan [Member] | China Construction Bank [Member]
Debt Instrument, Term (Year)		3 years
Long-term Debt, Total		$ 1,493			¥ 10
Term Loan [Member] | China Construction Bank [Member] | Three Yearr Loan Interest Rate Quoted by People's Bank of China [Member]
Debt Instrument, Annual Interest Rate Based on Variable Rate		120.00%
Paycheck Protection Program CARES Act [Member]
Proceeds from Issuance of Long-term Debt, Total	$ 635

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Note 5 - Related Party Transactions (Details Textual) ¥ in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CNY (¥)	Jun. 30, 2020 USD ($)	Jun. 30, 2020 CNY (¥)
Dalian Wanchun Biotechnology Co., Ltd. [Member]
Proceeds from Short-term Debt, Total	$ 29	¥ 200	$ 32	¥ 230

XML

Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Expense (Benefit), Total	$ 0	$ 0	$ 0	$ 0

XML

Note 7 - Equity (Deficit) - Schedule of Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Balances			$ 31,131	$ (9,382)
Issuance of ordinary shares			26,395	5,429
Share-based compensation			4,306
Foreign currency translation adjustment gain (loss)	$ (2)	$ 225	51	31
Net loss	(13,599)	(7,620)	(30,261)	(15,447)
Share-based compensation				1,287
Capital injection shared by noncontrolling interests
Balances	$ 31,622	$ (18,082)	$ 31,622	$ (18,082)
Common Stock [Member]
Balances (in shares)			27,885,613	23,184,612
Balances			$ 3	$ 2
Issuance of ordinary shares (in shares)			2,228,975	309,868
Issuance of ordinary shares
Share-based compensation (in shares)			3,293	100,000
Share-based compensation
Foreign currency translation adjustment gain (loss)
Net loss
Share-based compensation
Capital injection shared by noncontrolling interests
Balances (in shares)	30,117,881	23,594,480	30,117,881	23,594,480
Balances	$ 3	$ 2	$ 3	$ 2
Additional Paid-in Capital [Member]
Balances			246,979	170,950
Issuance of ordinary shares			26,395	5,429
Share-based compensation			4,244
Foreign currency translation adjustment gain (loss)
Net loss
Share-based compensation				1,287
Capital injection shared by noncontrolling interests				(578)
Balances	277,618	177,088	277,618	177,088
Retained Earnings [Member]
Balances			(216,845)	(178,760)
Issuance of ordinary shares
Share-based compensation
Foreign currency translation adjustment gain (loss)
Net loss			(28,837)	(14,645)
Share-based compensation
Capital injection shared by noncontrolling interests
Balances	(245,682)	(193,405)	(245,682)	(193,405)
AOCI Attributable to Parent [Member]
Balances			140	42
Issuance of ordinary shares
Share-based compensation
Foreign currency translation adjustment gain (loss)			57	34
Net loss
Share-based compensation
Capital injection shared by noncontrolling interests
Balances	197	76	197	76
Parent [Member]
Balances			30,277	(7,766)
Issuance of ordinary shares			26,395	5,429
Share-based compensation			4,244
Foreign currency translation adjustment gain (loss)			57	34
Net loss			(28,837)	(14,645)
Share-based compensation				1,287
Capital injection shared by noncontrolling interests				(578)
Balances	32,136	(16,239)	32,136	(16,239)
Noncontrolling Interest [Member]
Balances			854	(1,616)
Issuance of ordinary shares
Share-based compensation			62
Foreign currency translation adjustment gain (loss)			(6)	(3)
Net loss			(1,424)	(802)
Share-based compensation
Capital injection shared by noncontrolling interests				578
Balances	$ (514)	$ (1,843)	$ (514)	$ (1,843)

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Note 8 - Restricted Net Assets (Details Textual) $ in Thousands	Dec. 31, 2019 USD ($)
Restricted Net Assets	$ 2,032

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Note 9 - Employee Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Defined Contribution Plan, Cost	$ 21	$ 18	$ 47	$ 39

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Note 10 - Net Loss Per Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net loss attributable to BeyondSpring Inc.—basic and diluted	$ (12,753)	$ (7,352)	$ (28,837)	$ (14,645)
Weighted average number of ordinary shares outstanding—basic and diluted (in shares)	27,921,026	23,094,161	27,826,737	23,061,941
Net loss per share —basic and diluted (in dollars per share)	$ (0.46)	$ (0.32)	$ (1.04)	$ (0.64)

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Note 11 - Supplemental Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Compensation related	$ 228	$ 226
Professional services	374
Other taxes related	815	798
Others	45	65
Total	$ 1,462	$ 1,089

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Note 12 - Share-based Compensation (Details Textual)	6 Months Ended
	Jun. 30, 2020 shares
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	381,420
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	3,293

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Note 12 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Allocated Share-based Compensation Expense	$ 836	$ 916	$ 4,306	$ 1,287
Research and Development Expense [Member]
Allocated Share-based Compensation Expense	568	220	3,751	376
General and Administrative Expense [Member]
Allocated Share-based Compensation Expense	$ 268	$ 696	$ 555	$ 911