Plinabulin (BeyondSpring's Lead Program):

   -- Phase 3 Survival Benefit Confirmed: Plinabulin combined with docetaxel 
      demonstrated statistically significant overall survival benefit vs. 
      standard of care docetaxel in EGFR wild-type NSCLC patients whose tumors 
      progressed after first line therapy -- DUBLIN-3 study results published 
      in The Lancet Respiratory Medicine 
 
   -- Confirmatory Trial Planned: Based on DUBLIN-3 Phase 3 data and US FDA 
      discussions, BeyondSpring is advancing DUBLIN-4, a confirmatory global 
      Phase 3 study in a biomarker-selected EGFR wild-type NSCLC patient 
      population progressed on immune checkpoint inhibitors (NCT07361484) 
 
   -- Overcoming Immunotherapy Resistance: Early clinical data at MD Anderson 
      Cancer Center and Peking Union Hospital suggest Plinabulin may restore 
      sensitivity to checkpoint inhibitors -- a significant unmet need 
      affecting most patients on PD-1/PD-L1 therapies -- Results published in 
      Cell Press journal Med 2025 and presented at SITC 2025 

SEED Therapeutics (Reported as Discontinued Operations):

   -- First Patient Dosed for lead oncology program: ST-01156, a novel oral 
      RBM39 degrader, initiated Phase 1a clinical trials in January 2026 
      following IND clearance in both the U.S. and China 
 
   -- Financing Strengthened: Completed $30 million Series A-3 financing; 
      appointed Dr. Bill Desmarais as Chief Financial Officer and Chief 
      Business Officer 

FLORHAM PARK, N.J., March 25, 2026 (GLOBE NEWSWIRE) -- BeyondSpring Inc. $(BYSI)$ ("BeyondSpring" or the "Company"), a clinical-stage company developing transformative therapies for the treatment of cancer and other diseases, today announced its financial results for the year ended December 31, 2025, and highlighted late-stage clinical progress for Plinabulin and strategic developments related to its equity interest in SEED Therapeutics ("SEED").

2025: Clinical and Operational Progress

"2025 was a year of important clinical and operational progress for BeyondSpring and SEED Therapeutics," said Dr. Lan Huang, Co-Founder, Chairman and Chief Executive Officer of BeyondSpring. "We advanced our Phase 3 Plinabulin program, generated meaningful clinical data, and strengthened our strategic and financial position."

"BeyondSpring made meaningful progress advancing Plinabulin in Phase 3 NSCLC, while SEED Therapeutics reached a critical milestone -- initiating its first clinical trial following IND clearance in both the U.S. and China -- and strengthened its leadership team and capital resources."

Positioned for 2026 and Beyond

"With a solid scientific and clinical foundation and clear regulatory pathways, we believe BeyondSpring and SEED are well positioned for the next stage of development," Dr. Huang concluded. "As we enter 2026, we remain focused on advancing the DUBLIN-4 confirmatory trial for Plinabulin in non-squamous EGFR wild-type NSCLC post immune checkpoint inhibitors, supporting SEED's Phase 1a clinical program for ST-01156 in solid tumors, and creating long-term value for our shareholders."

Recent Clinical and Business Updates

Plinabulin Demonstrates Overall Survival Benefit in Phase 3 NSCLC Study; Confirmatory Trial Planned

There is a significant unmet need in EGFR wild-type NSCLC following immune checkpoint inhibitor (ICI) therapy, where numerous Phase 3 studies have failed to improve overall survival over standard of care docetaxel.

BeyondSpring reported positive Phase 3 results from the DUBLIN-3 study evaluating plinabulin in combination with docetaxel in second- and third-line (2/3L) EGFR wild-type non-small cell lung cancer (NSCLC). The study demonstrated a statistically significant and clinically meaningful overall survival (OS) benefit compared to docetaxel alone (ITT, n=559), with results published in The Lancet Respiratory Medicine.

At IASLC North America and ESMO Asia in December 2025, BeyondSpring presented updated data from the mechanism-targeted non-squamous NSCLC population (n=332; 24-month after database lock), in which the combination achieved:

   -- OS hazard ratio $(HR)$ of 0.72 (p=0.0078) 
 
   -- Median OS improvement of 2.5 months vs. docetaxel 
 
   -- Doubling of 2-year and 3-year survival rates 
 
   -- Favorable safety profile, reducing grade 4 neutropenia from >30% to 5% 
      (p<0.0001) 

To date, over 700 patients have been treated with plinabulin across clinical studies, supporting the characterization of its safety and tolerability profile.

Based on these findings and discussions with the U.S. FDA, BeyondSpring plans to initiate the global Phase 3 DUBLIN-4 confirmatory study, focusing on a mechanism-enriched patient population of EGFR wild-type non-squamous NSCLC progressed on prior PD-1/L1 inhibitors with overall survival as the primary endpoint (NCT07361484).

Plinabulin Shows Potential to Overcome PD-1/PD-L1 Resistance

Emerging clinical data suggests plinabulin may help address acquired resistance to PD-1/PD-L1 therapies -- a major challenge affecting approximately 60% of patients, with limited therapies for these progressed patients. With PD-1/PD-L1 therapies representing a multi-billion-dollar market, addressing resistance remains one of the most significant opportunities in oncology.

Presentations at ASCO 2025 and SITC 2025 on multiple early-stage and investigator-initiated studies of Plinabulin combinations:

   -- Plinabulin + pembrolizumab + docetaxel (303 study, NCT05599789): A Phase 
      2 study conducted at Peking Union Hospital in China in metastatic NSCLC 
      patients progressing on PD-1/PD-L1 inhibitors (n=47) demonstrated: 
 
          -- Median progression-free survival $(PFS)$ of 7.0 months 
 
          -- Disease control rate (DCR) of 85% and overall response rate $(ORR)$ 
             of 18.2% 
 
          -- Median OS not reached with 24-month overall survival rate of 66% 
 
          -- Whole blood analysis indicated higher proportions of activated 
             CD4+/CD8+ T-cells post treatment 
 
   -- Plinabulin + PD-1 inhibitor + radiation (NCT04902040): A Phase 1 study 
      conducted at MD Anderson Cancer Center across eight tumor types resistant 
      to checkpoint inhibitors showed: 
 
          -- DCR of 54% and ORR of 23% 
 
          -- Mechanistic evidence of dendritic cell maturation and immune 
             activation 
 
          -- Identification of a potential predictive biomarker (GEF-H1 immune 
             signature) 
 
          -- These findings, published in Med 2025 (Cell Press), support 
             plinabulin's proposed immune-priming mechanism and its potential 
             role in combination strategies to restore tumor sensitivity to 
             immunotherapy 

BeyondSpring Business Update

   -- In January 2025, BeyondSpring entered into definitive agreements to sell 
      a portion of its Series A-1 Preferred Shares of SEED for gross proceeds 
      of approximately $35.4 million to advance late-stage clinical development 
      of Plinabulin. First closing of approximately $7.35 million was completed 
      in February 2025. 

SEED Therapeutics (Reported as Discontinued Operations) Advances First Clinical Program and Strengthens Organization

SEED Therapeutics continued to make progress in 2025 and early 2026, advancing its targeted protein degradation platform and pipeline.

Key highlights include:

   -- ST-01156, a novel oral RBM39 degrader: 
 
          -- Received U.S. FDA Orphan Drug and Rare Pediatric Disease 
             Designations 
 
          -- Achieved IND clearance in both the U.S. and China 
 
          -- Dosed first patient in a Phase 1a study in January 2026 
 
   -- ST-01156 Phase 1a enrolling at leading U.S. cancer centers: Dana-Farber, 
      Massachusetts General Hospital, Memorial Sloan Kettering, MD Anderson 
      Cancer Center, Hoag, and City of Hope 
 
   -- Presentation at AACR 2025 on ST-01156 mechanism and preclinical studies 
      including complete tumor regression in Ewing sarcoma and other cancer 
      models; new degrader approaches in KRAS G12D degradation 

SEED Business Update

   -- Completed a $30 million Series A-3 financing 
 
   -- Appointed Dr. Bill Desmarais as Chief Financial Officer and Chief 
      Business Officer 
 
   -- Named a finalist for the 2025 Prix Galien USA "Best Start-Up" Award 

Full-Year 2025 Financial Results(1)

Continuing operations:

   -- R&D expenses: $4.4 million (vs. $2.6 million in 2024), driven by 
      increased drug manufacturing, NSCLC data management, Plinabulin 
      combination research, regulatory consulting, and personnel costs 
 
   -- G&A expenses: $4.6 million (vs. $6.1 million in 2024), driven by lower 
      personnel costs, reduced consulting expenses, and lower corporate 
      overhead 
 
   -- Net loss: $8.7 million (vs. $8.9 million in 2024) 
 
   -- Cash, cash equivalents, and short-term investments: $12.6 million as of 
      December 31, 2025 

Discontinued operations:

   -- Net loss: $5.5 million (vs. $7.8 million in 2024) 
 
   -- Current assets: $8.0 million as of December 31, 2025 

Note 1. As a result of BeyondSpring entering into definitive agreements to sell a portion of its Series A-1 Preferred Shares of SEED, SEED's operations met the criteria as discontinued operations under ASC 205-20 for financial reporting purposes.

About BeyondSpring

BeyondSpring (NASDAQ: BYSI) is a clinical-stage biopharmaceutical company developing first-in-class therapies addressing high unmet medical needs. Its lead asset, Plinabulin, is in late-stage clinical development as an anti-cancer agent in NSCLC and other indications. Plinabulin's novel mechanism as a dendritic cell maturation agent supports both anti-cancer activity and immune modulation, offering a unique approach to restoring tumor sensitivity to checkpoint inhibitors. Learn more at https://beyondspringpharma.com.

About SEED Therapeutics

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March 25, 2026 08:30 ET (12:30 GMT)