BeyondSpring closes sale of BeyondSpring Ltd. to Biolin for DUBLIN-4 data rights, $53.7M pro forma gain

BeyondSpring Inc.

Closed Sept. 30, 2026 sale of all BeyondSpring Ltd. shares, which indirectly held Bulin and SEED Technology, to Biolin Investment Limited; no cash consideration was paid.
Consideration is noncash: Investor funds China portion of DUBLIN-4 Phase 3 trial of Plinabulin plus docetaxel in NSCLC; BYSI gets exclusive perpetual royalty-free license to Bulin Data.
Clawback: if Bulin misses Target Enrollment within three years, Investor returns equity based on shortfall, including 100% of equity if shortfall is 90% or greater.
Pro forma preliminary gain on Sale $53.7M; accumulated deficit improves to $(358.5)M from $(411.4)M, and total shareholders' deficit turns positive at $17.3M.
Deconsolidates BeyondSpring Ltd. and SEED disposal groups; retains ~29% of SEED voting power via common and Series A-1 preferred, with right to elect two directors.

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