Benzinga | Jan 12, 2022 05:44AM EST

BeyondSpring Cuts On-Third Of Its Workforce

BeyondSpring Inc (NASDAQ:BYSI) plans to reduce its U.S. workforce by 35%, including reassignment of certain personnel to subsidiaries, which is expected to result in cost savings that will extend the cash runway.

* The reorganization follows the FDA Complete Response Letter for plinabulin marketing application to prevent chemotherapy-induced neutropenia (CIN).

* Related: BeyondSpring's New Plinabulin Data Shows Fast Onset In Preventing Chemo-Induced Neutropenia.

* From now on, BeyondSpring will prioritize: The advancement of the regulatory process of plinabulin in CIN in China and the U.S. NDA filing and regulatory process of non-small cell lung cancer (NSCLC) in the U.S. and China Advancement of immune-oncology (IO) trials with plinabulin in triple combination IO therapy in various cancers.

* Price Action: BYSI shares closed at $4.38 on Tuesday.