EXCLUSIVE: BeyondSpring CEO Talks Better-Than-Expected Trial Results That Sent The Stock Soaring
4:26 pm ET August 5, 2021 (Benzinga) Print
BeyondSpring Inc (NASDAQ: BYSI) recently announced positive topline data from its DUBLIN-3 registrational trial in plinabulin in combination with docetaxel for the treatment of second and third line non-small cell lung cancer.
The study showed survival benefits and side effect reduction, BeyondSpring CEO Lan Huang said Thursday on Benzinga's Stock Market Livestream.
BeyondSpring is focused on developing transformative cancer medicines for patients, Huang said.
BeyondSpring has plans to discuss the company's positive trial data with the FDA later this year, she said.
There are 1.9 million patients who develop lung cancer globally each year, Huang said, adding the market for BeyondSpring is "huge."
The stock surged nearly 150% higher following the announcement this week. The BeyondSpring CEO told Benzinga the company doesn't have any plans to initiate a share offering at this time.
Huang told Benzinga BeyondSpring has $91 million on its balance sheet, which will take the company into July of 2022.
She attributes the dramatic move in the stock price to the better-than-expected trial results.
Along with the ongoing plinabulin trials, the company has three other preclinical drug trials in the pipeline, Huang said.
BeyondSpring is always thinking about potential partnerships that could help accelerate the development of the company's transformative cancer medicines, the CEO said.
BeyondSpring's current FDA submission received FDA priority review with a PDUFA date of Nov. 30.
The November deadline "is definitely a very important day," Huang told Benzinga.
BYSI Price Action: BeyondSpring shares pulled back 18.36% in Thursday's session, closing at $21.70.
See the full interview here:
BYSI Price Action: BeyondSpring has traded as high as $30 and as low as $8.90over a 52-week period.
At last check Thursday, the stock was down 15.90% at $22.29.
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