BeyondSpring Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017
BeyondSpring Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported loss from operations of $47,791,000 compared with $1,915,000 for the same period a year ago. Loss before income tax was $47,712,000 compared with $1,909,000 for the same period a year ago. Net loss attributable to BeyondSpring Inc. was $47,396,000 or $2.66 per basic and diluted share compared with $1,844,000 or $0.12 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $5,279,000 compared with $1,991,000 for the same period a year ago. Acquisitions of property and equipment was $14,000. This increase in net loss was primarily due to increased research and development costs. The increased research and development costs mainly related to continuing Phase 3 clinical trial of Plinabulin in combination with docetaxel for patients with advanced NSCLC who have measurable lung lesions, and preparations to start registrational clinical program of Plinabulin to prevent chemotherapy-induced neutropenia.