AACR 2026 Data Positions Plinabulin as a Potential Backbone Agent to Combine with Antibody-Drug Conjugate (ADC)-Based Therapies to Improve Anti-Cancer Efficacy and Tolerability
SEED Advances First Molecular Glue Degrader into Clinical Development with Biomarker-Driven Strategy
“Plinabulin continues to demonstrate the ability to enhance both efficacy and tolerability in ADC-based regimens, supporting its positioning as a potential backbone agent across a rapidly evolving treatment landscape,” said Dr.
Recent Clinical Highlights
Plinabulin: Expanding Role as a Potentially Foundational Combination Therapy
- AACR 2026 data demonstrated that Plinabulin significantly enhances both efficacy and tolerability of topoisomerase inhibitor–based ADC regimens, with or without immune checkpoint inhibitors
- Preclinical findings showed:
- Improved complete response rate and survival outcomes
- Improved tolerability
- Enhanced CD8+ T cell / Treg ratio - shifting the tumor immune environment from suppression to attack
- These preclinical results suggest Plinabulin’s potential to address key limitations of current ADC therapies, including limited durability and dose-limiting safety concerns, and support Plinabulin’s positioning as a potential backbone agent across a broad range of ADC combination regimens
SEED Therapeutics: Advancing precision oncology through molecular glue degraders
- ST-01156 (RBM39 molecular glue degrader) advanced into Phase 1 clinical development, with the first dose cohort completed
- AACR 2026 data demonstrated:
- Complete tumor eradication in a neuroblastoma in vivo model
- Identification of MYC overexpression and CDKN2A/B deletion as potential predictive biomarkers
- This program represents a biomarker-driven precision oncology approach and highlights the productivity of SEED’s proprietary RITE3™ platform for targeted protein degradation
First Quarter Financial Results1
Continuing operations:
- R&D expenses were
$1.1 million for the three months endedMarch 31, 2026 compared to$0.9 million for the three months endedMarch 31, 2025 . The$0.2 million increase was primarily driven by increased drug manufacturing activities to prepare for potential future study initiation, partially offset by lower regulatory filing advisory and personnel expenses - G&A expenses were
$1.1 million for the three months endedMarch 31, 2026 compared to$1.7 million for the three months endedMarch 31, 2025 . The$0.6 million decrease was primarily driven by lower personnel and legal advisory expenses - Net loss was
$2.4 million for the three months endedMarch 31, 2026 compared to$2.6 million for the three months endedMarch 31, 2025 - Cash, cash equivalents, and short-term investments were
$7.9 million as ofMarch 31, 2026
Discontinued operations:
- Net loss was
$4.3 million for the three months endedMarch 31, 2026 , compared to net income of$3.8 million for the three months endedMarch 31, 2025 - Current assets were
$5.3 million as ofMarch 31, 2026
Note 1. As a result of
About
About SEED Therapeutics
SEED Therapeutics is a clinical-stage biotechnology company pioneering targeted protein degradation. Its proprietary RITE3™ platform is advancing novel molecular glue degraders across oncology, neurodegeneration, and immunology. SEED collaborates with Eli Lilly and Company and
Investor Contact: IR@beyondspringpharma.com
Media Contact: PR@beyondspringpharma.com
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 similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on BeyondSpring’s current knowledge, 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 a number of 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 from preclinical studies or clinical trials; the risk that preclinical results may not be predictive of clinical results; delays in, or failure to obtain, regulatory approvals; results that do not meet the Company’s expectations regarding the safety, efficacy, clinical utility, or regulatory pathway of the Company’s product candidates; increased competition in the market; the Company’s ability to meet Nasdaq’s continued listing requirements; and other risks described in BeyondSpring’s most recent Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission. All forward-looking statements made herein speak only as of the date of this release, and
Financial Tables to Follow
CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of | ||||||||
| As of | ||||||||
2025 | 2026 | |||||||
| $ | $ | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | 7,786 | 4,036 | ||||||
| Short-term investments | 4,775 | 3,827 | ||||||
| Advances to suppliers | 227 | 177 | ||||||
| Prepaid expenses and other current assets | 71 | 181 | ||||||
| Current assets of discontinued operations | 8,023 | 5,283 | ||||||
| Total current assets | 20,882 | 13,504 | ||||||
| Noncurrent assets: | ||||||||
| Property and equipment, net | 166 | 152 | ||||||
| Operating right-of-use assets | 305 | 240 | ||||||
| Other noncurrent assets | 224 | 126 | ||||||
| Noncurrent assets of discontinued operations | 4,356 | 4,384 | ||||||
| Total noncurrent assets | 5,051 | 4,902 | ||||||
| Total assets | 25,933 | 18,406 | ||||||
| Liabilities and equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | 363 | 646 | ||||||
| Accrued expenses | 938 | 1,278 | ||||||
| Current portion of operating lease liabilities | 320 | 246 | ||||||
| Other current liabilities | 822 | 937 | ||||||
| Current liabilities of discontinued operations | 11,133 | 9,263 | ||||||
| Total current liabilities | 13,576 | 12,370 | ||||||
| Noncurrent liabilities: | ||||||||
| Deferred revenue | 28,600 | 28,994 | ||||||
| Other noncurrent liabilities | 3,981 | 4,239 | ||||||
| Noncurrent liabilities of discontinued operations | 3,766 | 3,157 | ||||||
| Total noncurrent liabilities | 36,347 | 36,390 | ||||||
| Total liabilities | 49,923 | 48,760 | ||||||
| Shareholders’ deficit | ||||||||
| Ordinary shares ( | 4 | 4 | ||||||
| Additional paid-in capital | 375,664 | 375,739 | ||||||
| Accumulated deficit | (408,431 | ) | (410,590 | ) | ||||
| Accumulated other comprehensive income | 602 | 360 | ||||||
| Total BeyondSpring Inc.’s shareholders’ deficit | (32,161 | ) | (34,487 | ) | ||||
| Noncontrolling interests | 8,171 | 4,133 | ||||||
| Total shareholders’ deficit | (23,990 | ) | (30,354 | ) | ||||
| Total liabilities and shareholders’ deficit | 25,933 | 18,406 | ||||||
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Amounts in thousands of (Unaudited) | ||||||||
| Three months ended | ||||||||
| 2025 | 2026 | |||||||
| $ | $ | |||||||
| Revenue | - | - | ||||||
| Operating expenses | ||||||||
| Research and development | (874 | ) | (1,076 | ) | ||||
| General and administrative | (1,736 | ) | (1,156 | ) | ||||
| Loss from operations | (2,610 | ) | (2,232 | ) | ||||
| Foreign exchange gain, net | 29 | 50 | ||||||
| Interest income | 17 | 8 | ||||||
| Other income, net | - | 15 | ||||||
| Loss before income tax | (2,564 | ) | (2,159 | ) | ||||
| Income tax expenses | (20 | ) | (192 | ) | ||||
| Net loss from continuing operations | (2,584 | ) | (2,351 | ) | ||||
| Discontinued operations | ||||||||
| Loss from discontinued operations | (3,232 | ) | (4,323 | ) | ||||
| Gain on sale of subsidiary interests | 6,986 | - | ||||||
| Income tax expenses | - | - | ||||||
| Net income (loss) from discontinued operations | 3,754 | (4,323 | ) | |||||
| Net income (loss) | 1,170 | (6,674 | ) | |||||
| Less: Net loss attributable to noncontrolling interests from continuing operations | (75 | ) | (132 | ) | ||||
| Less: Net loss attributable to noncontrolling interests from discontinued operations | (3,232 | ) | (4,383 | ) | ||||
| Net income (loss) attributable to | 4,477 | (2,159 | ) | |||||
| Earnings (loss) per share, basic and diluted | ||||||||
| Continuing operations | (0.06 | ) | (0.05 | ) | ||||
| Discontinued operations | 0.17 | - | ||||||
| Basic and diluted earnings (loss) per share | 0.11 | (0.05 | ) | |||||
| Weighted-average shares outstanding | ||||||||
| Basic and diluted | 40,316,320 | 41,119,803 | ||||||
| Other comprehensive loss, net of tax of nil: | ||||||||
| Foreign currency translation adjustment loss from continuing operations | (151 | ) | (379 | ) | ||||
| Foreign currency translation adjustment loss from discontinued operations | (7 | ) | (47 | ) | ||||
| Comprehensive income (loss) | 1,012 | (7,100 | ) | |||||
| Less: Comprehensive loss attributable to noncontrolling interests from continuing operations | (130 | ) | (269 | ) | ||||
| Less: Comprehensive loss attributable to noncontrolling interests from discontinued operations | (3,238 | ) | (4,430 | ) | ||||
| Comprehensive income (loss) attributable to | 4,380 | (2,401 | ) | |||||
