Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

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 August 2024

Commission File Number: 001-38024

BeyondSpring Inc.

BeyondSpring Inc.
100 Campus Drive, West Side, 4th Floor, Suite 410
Florham Park, New Jersey 07932
(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 ☐

On August 29, 2024, BeyondSpring Inc. (the “Company”) reported financial results for the six months ended June 30, 2024.

This Report on Form 6-K is incorporated by reference into the Registration Statement on Form F-3, File No. 333-280153, and the Registration Statements on Form S-8, File No. 333-216639 and File No. 333-240082, of the Company.

BEYONDSPRING INC.

CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2023 AND JUNE 30, 2024

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

	December 31, 2023			June 30, 2024
	$			$
				(Unaudited)
Assets
Current assets:
Cash and cash equivalents		7,809			8,397
Restricted Cash		9,941			-
Short-term investments		193			5,963
Advances to suppliers		306			280
Prepaid expenses and other current assets		170			279
Total current assets		18,419			14,919

Noncurrent assets:
Property and equipment, net		1,628			1,487
Operating lease right-of-use assets		4,397			4,050
Other noncurrent assets		364			441
Total noncurrent assets		6,389			5,978

Total assets		24,808			20,897

Liabilities and equity

Current liabilities:
Accounts payable		1,407			2,119
Accrued expenses		2,581			1,772
Current portion of operating lease liabilities		631			656
Deferred revenue		1,751			2,001
Other current liabilities		1,588			1,639
Total current liabilities		7,958			8,187

Noncurrent liabilities:
Operating lease liabilities		3,364			3,030
Deferred revenue		33,242			32,343
Other noncurrent liabilities		3,705			3,612
Total noncurrent liabilities		40,311			38,985

Total liabilities		48,269			47,172

Commitments and contingencies

Mezzanine equity
Contingently redeemable noncontrolling interests		11,874			12,274

Shareholder's deficit
Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 39,015,476 and 40,300,350 shares issued and outstanding as of December 31, 2023 and June 30, 2024, respectively)		4			4
Additional paid-in capital		368,599			372,117
Accumulated deficit		(396,302	)		(403,564	)
Accumulated other comprehensive income		894			1,258

Total BeyondSpring Inc.’s shareholders’ deficit		(26,805	)		(30,185	)
Noncontrolling interests		(8,530	)		(8,364	)
Total shareholders' deficit		(35,335	)		(38,549	)

Total liabilities, mezzanine equity and shareholders' deficit		24,808			20,897

BEYONDSPRING INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF

COMPREHENSIVE LOSS FOR THE SIX MONTHS ENDED JUNE 30, 2023 AND 2024

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

	Six months ended June 30,
	2023			2024
	$			$

Revenue		875			1,000

Operating expenses
Research and development		(9,214	)		(4,149	)
General and administrative		(5,145	)		(4,273	)

Loss from operations		(13,484	)		(7,422	)
Foreign exchange loss, net		(200	)		(83	)
Interest income		281			46
Other income, net		133			82

Loss before income tax		(13,270	)		(7,377	)
Income tax benefits		9			-

Net loss		(13,261	)		(7,377	)
Less: Net loss attributable to noncontrolling interests		(541	)		(115	)
Net loss attributable to BeyondSpring Inc.		(12,720	)		(7,262	)

Net loss per share
Basic and diluted		(0.33	)		(0.19	)

Weighted-average shares outstanding
Basic and diluted		38,976,761			39,070,994

Other comprehensive loss, net of tax of nil:
Foreign currency translation adjustment		1,249			576
Unrealized holding loss		(5	)		-
Comprehensive loss		(12,017	)		(6,801	)
Less: Comprehensive gain (loss) attributable to noncontrolling interests		(84	)		97
Comprehensive loss attributable to BeyondSpring Inc.		(11,933	)		(6,898	)

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: Chairperson and Chief Executive Officer

Date: August 29, 2024

EXHIBIT INDEX

Exhibit No.	Exhibit

101.INS	Inline XBRL Instance Document
101.SCH	Inline XBRL Taxonomy Extension Schema Document
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
104	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

Document And Entity Information	6 Months Ended
Document And Entity Information	Jun. 30, 2024
Document Information [Line Items]
Document Type	6-K
Entity File Number	001-38024
Entity Registrant Name	BeyondSpring Inc
Entity Address, Address Line One	100 Campus Drive, West Side, 4th Floor, Suite 410
Entity Address, City or Town	Florham Park
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07932
Document Period End Date	Jun. 30, 2024
Entity Central Index Key	0001677940
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Audited Consolidated Balance Sheet as of December 31, 2023 and Unaudited Interim Condensed Consolidated Balance Sheet as of June 30, 2024 - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 8,397	$ 7,809
Restricted Cash	0	9,941
Short-term investments	5,963	193
Advances to suppliers	280	306
Prepaid expenses and other current assets	279	170
Total current assets	14,919	18,419
Noncurrent assets:
Property and equipment, net	1,487	1,628
Operating lease right-of-use assets	4,050	4,397
Other noncurrent assets	441	364
Total noncurrent assets	5,978	6,389
Total assets	20,897	24,808
Current liabilities:
Accounts payable	2,119	1,407
Accrued expenses	1,772	2,581
Current portion of operating lease liabilities	656	631
Deferred revenue	2,001	1,751
Other current liabilities	1,639	1,588
Total current liabilities	8,187	7,958
Noncurrent liabilities:
Operating lease liabilities	3,030	3,364
Deferred revenue	32,343	33,242
Other noncurrent liabilities	3,612	3,705
Total noncurrent liabilities	38,985	40,311
Total liabilities	47,172	48,269
Commitments and Contingencies
Mezzanine equity
Contingently redeemable noncontrolling interests	12,274	11,874
Shareholder's deficit
Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 39,015,476 and 40,300,350 shares issued and outstanding as of December 31, 2023 and June 30, 2024, respectively)	4	4
Additional paid-in capital	372,117	368,599
Accumulated deficit	(403,564)	(396,302)
Accumulated other comprehensive income	1,258	894
Total BeyondSpring Inc.’s shareholders’ deficit	(30,185)	(26,805)
Noncontrolling interests	(8,364)	(8,530)
Total shareholders' deficit	(38,549)	(35,335)
Total liabilities, mezzanine equity and shareholders' deficit	$ 20,897	$ 24,808

Audited Consolidated Balance Sheet as of December 31, 2023 and Unaudited Interim Condensed Consolidated Balance Sheet as of June 30, 2024 (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	500,000,000	500,000,000
Common Stock, Shares Authorized (in shares)	500,000,000	500,000,000
Common Stock, Shares, Issued (in shares)	40,300,350	39,015,476
Common Stock, Shares, Outstanding (in shares)	40,300,350	39,015,476

Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss for the Six Months Ended June 30, 2023 and 2024 - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue	$ 1,000	$ 875
Operating expenses
Research and development	(4,149)	(9,214)
General and administrative	(4,273)	(5,145)
Loss from operations	(7,422)	(13,484)
Foreign exchange loss, net	(83)	(200)
Interest income	46	281
Other income, net	82	133
Loss before income tax	(7,377)	(13,270)
Income tax benefits	0	9
Net loss	(7,377)	(13,261)
Less: Net loss attributable to noncontrolling interests	(115)	(541)
Net loss attributable to BeyondSpring Inc.	$ (7,262)	$ (12,720)
Net loss per share
Basic and diluted (in dollars per share)	$ (0.19)	$ (0.33)
Weighted-average shares outstanding
Basic and diluted (in shares)	39,070,994	38,976,761
Other comprehensive loss, net of tax of nil:
Foreign currency translation adjustment	$ 576	$ 1,249
Unrealized holding loss	0	(5)
Comprehensive loss	(6,801)	(12,017)
Less: Comprehensive gain (loss) attributable to noncontrolling interests	97	(84)
Comprehensive loss attributable to BeyondSpring Inc.	$ (6,898)	$ (11,933)