BeyondSpring is a clinical-stage biopharmaceutical company whose primary asset is Plinabulin, a small molecule anti-cancer drug derived from a marine compound. Plinabulin works by activating GEF-H1, a protein that triggers dendritic cell maturation and T-cell activation against tumors — a mechanism BeyondSpring argues is distinct from, and complementary to, existing checkpoint inhibitors like PD-1/PD-L1 antibodies. The company's primary target indication is second- and third-line EGFR wild-type non-small cell lung cancer (NSCLC) in patients who have progressed on prior checkpoint inhibitor therapy. BeyondSpring completed a Phase 3 study (DUBLIN-3) of Plinabulin combined with docetaxel versus docetaxel alone, showing an overall survival benefit and a significant reduction in chemotherapy-induced neutropenia. BeyondSpring plans to file an NDA with China's NMPA as an initial regulatory priority, and is planning a confirmatory global Phase 3 trial for U.S. and rest-of-world approval. In China, BeyondSpring has a commercialization agreement with Jiangsu Hengrui, under which BeyondSpring's subsidiary retains manufacturing rights and net sales proceeds while Hengrui handles commercialization costs. BeyondSpring also holds a stake in SEED Therapeutics, a separate company developing a molecular glue targeted protein degradation platform with partnerships with Eli Lilly and Eisai, though BeyondSpring is actively selling down this stake. BeyondSpring generates no commercial revenue and funds operations through equity financings, partnership proceeds, and SEED stake monetization, while pursuing a licensing or co-development partner for ex-China rights to Plinabulin.