The company's financial position is increasingly precarious, evidenced by a deeply negative equity balance of -$34.5 million and an accumulated deficit of -$410.6 million as of 2026Q1.
| Total Current Assets | 13.5M | 20.88M | 28.58M | 18.42M | 38.52M | 75.12M | 113.4M | 40.86M | 5.87M | 32.34M | 14.71M | 10.94M | 1.17M |
| Cash & Short-Term Investments | 7.86M | 12.56M | 2.92M | 15.34M | 37.27M | 72.37M | 109.54M | 35.93M | 3.89M | 30.55M | 11.69M | 10.82M | 392K |
| Cash Only | 4.04M | 7.79M | 2.92M | 15.34M | 34.4M | 41.63M | 109.54M | 35.93M | 3.89M | 27.48M | 11.69M | 10.82M | 392K |
| Short-Term Investments | 3.83M | 4.78M | 0 | 0 | 2.87M | 30.74M | 0 | 0 | 0 | 3.07M | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 764K |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.21M | 0 | 799K | 89K | 16K |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | 9.19K | - | 16.2K | 3.25K | - |
| Other Current Assets | 5.64M | 8.32M | 25.41M | 2.79M | 763K | 1.02M | 358K | 410K | 1.69M | 264K | 2.66M | 26K | 2K |
| Total Non-Current Assets | 4.9M | 5.05M | 5.74M | 6.39M | 7.7M | 6.53M | 3.64M | 3.69M | 1.19M | 484K | 201K | 34K | 0 |
| Property, Plant & Equipment | 392K | 471K | 752K | 1.05M | 7.35M | 4.95M | 2.36M | 2.75M | 282K | 123K | 80K | 34K | 0 |
| Fixed Asset Turnover | 0.00x | - | - | - | 0.18x | 0.27x | 0.08x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 4.51M | 4.58M | 4.99M | 5.34M | 347K | 1.57M | 1.28M | 946K | 910K | 361K | 121K | 0 | 0 |
| Total Assets | 18.41M | 25.93M | 34.31M | 24.81M | 46.22M | 81.65M | 117.04M | 44.55M | 7.06M | 32.83M | 14.91M | 10.97M | 1.17M |
| Asset Turnover | 0.00x | - | - | - | 0.03x | 0.02x | 0.00x | - | - | - | - | - | - |
| Asset Growth % | -40.35% | -24.43% | 38.32% | -46.33% | -43.39% | -30.24% | 162.68% | 530.82% | -78.48% | 120.2% | 35.9% | 834.41% | - |
| Total Current Liabilities | 12.37M | 13.58M | 11.01M | 7.96M | 7.35M | 15.15M | 13.77M | 10.05M | 16.45M | 4.79M | 2.61M | 1.31M | 2.74M |
| Accounts Payable | 646K | 363K | 295K | 561K | 1.08M | 1.66M | 2.22M | 2.54M | 9.59M | 3.38M | 444K | 300K | 206K |
| Days Payables Outstanding | 7.58K | 1.52K | - | 678.03 | - | - | - | 12.03K | 72.89K | 38.54K | 9K | 10.95K | - |
| Short-Term Debt | 246K | 320K | 0 | 258K | 0 | 1.57M | 0 | 29K | 0 | 0 | 210K | 0 | 0 |
| Deferred Revenue (Current) | 85.51M | 28.6M | 27.4M | 1.75M | 1.35M | 1.37M | 1.35M | 6.88M | 0 | 0 | 1.43M | 0 | 0 |
| Other Current Liabilities | -17.52M | -15.71M | -17.58M | 4.4M | 1.45M | 6.17M | 2.95M | -6.02M | 1.36M | 606K | 523K | 802K | 2.54M |
| Current Ratio | 1.09x | 1.54x | 2.60x | 2.31x | 5.24x | 4.96x | 8.24x | 4.06x | 0.36x | 6.75x | 5.64x | 8.34x | 0.43x |
| Quick Ratio | 1.09x | 1.54x | 2.60x | 2.31x | 5.24x | 4.96x | 8.24x | 4.06x | 0.28x | 6.75x | 5.33x | 8.27x | 0.42x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 36.39M | 36.35M | 37.59M | 40.31M | 41.88M | 45.57M | 11.45M | 3.37M | 9.59M | 3.38M | 654K | 300K | 7.83M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 2.17M | 1.44M | 0 | 0 | 0 | 0 | 7.83M |
| Capital Lease Obligations | 263K | 0 | 307K | 589K | 4M | 1.47M | 1.36M | 1.94M | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 5.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 36.39M | 7.75M | 9.88M | 11.55M | 3.66M | 709K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 48.76M | 49.92M | 48.6M | 48.27M | 49.23M | 60.73M | 25.22M | 13.42M | 16.45M | 4.79M | 2.61M | 1.31M | 10.57M |
| Total Debt | 246K | 320K | 589K | 847K | 4.96M | 3.58M | 4.31M | 3.94M | 0 | 0 | 210K | 0 | 7.83M |
| Net Debt | -3.79M | -7.47M | -2.33M | -14.49M | -29.43M | -38.05M | -105.22M | -32M | -3.89M | -27.48M | -11.48M | -10.82M | 7.43M |
| Debt / Equity | -0.01x | - | - | - | - | 0.17x | 0.05x | 0.13x | - | - | 0.02x | - | - |
| Debt / EBITDA | -0.03x | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.45x | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | -2123.53x | -741.97x | -749.84x | -194.79x | - | - | -69.88x | -14.05x | -2.53x |
| Total Equity | -30.35M | -23.99M | -14.29M | -23.46M | -3.01M | 20.92M | 91.82M | 31.13M | -9.38M | 28.04M | 12.3M | 9.66M | -9.39M |
| Equity Growth % | -213.02% | -67.94% | 39.11% | -680.21% | -114.37% | -77.21% | 194.95% | 431.82% | -133.46% | 127.95% | 27.35% | 202.82% | - |
| Book Value per Share | -0.74 | -0.59 | -0.36 | -0.60 | -0.08 | 0.54 | 3.06 | 1.26 | -0.41 | 1.34 | 0.73 | 0.61 | -0.59 |
| Total Shareholders' Equity | -34.49M | -32.16M | -32.9M | -26.8M | -5.98M | 26.68M | 88.34M | 30.28M | -7.77M | 27.08M | 12.15M | 8.95M | -9.39M |
| Common Stock | 4K | 4K | 4K | 4K | 4K | 4K | 4K | 3K | 2K | 2K | 2K | 2K | 1K |
| Retained Earnings | -410.59M | -408.43M | -407.43M | -396.3M | -375.28M | -342M | -277.82M | -216.84M | -178.76M | -123.89M | -32.13M | -20.12M | -12.15M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 360K | 602K | 1.34M | 894K | 436K | -523K | -297K | 140K | 42K | -182K | -91K | -53K | -42K |
| Minority Interest | 4.13M | 8.17M | 18.61M | 3.34M | 2.97M | -5.76M | 3.48M | 854K | -1.62M | 960K | 147K | 708K | 0 |
Imminent liquidity and insolvency
As reported in recent financial filings, BeyondSpring's total assets have declined from $37.1 million in 2025Q1 to $18.4 million by 2026Q1, reflecting a rapid contraction in the company's resource base as it struggles to fund ongoing clinical operations without a viable commercial revenue stream.
The consistent decline in total assets alongside a persistent negative equity position suggests that the company is consuming its remaining capital to sustain operations. This trajectory indicates that the business model is currently unsustainable without significant external capital injections or a successful pivot in its regulatory strategy.
Based on 2026Q1 data, BeyondSpring's cash reserves have plummeted to $4.0 million, a significant reduction from the $12.5 million reported in 2025Q3, which severely limits the company's operational runway and heightens the risk of near-term insolvency absent immediate financing or partnership milestones.
The current ratio of 1.09 provides a razor-thin margin of safety, suggesting that the company lacks the liquidity buffer necessary to absorb further clinical trial delays or regulatory setbacks. Investors should monitor the burn rate closely, as the current cash position appears insufficient to support the firm's high fixed-cost R&D structure for more than a few quarters.
According to the latest balance sheet, BeyondSpring maintains a deeply negative equity position of -$34.5 million as of 2026Q1, driven by an accumulated deficit of -$410.6 million, which underscores the long-term value destruction inherent in the company's current clinical-stage development model.
The persistent negative equity position indicates that the company has exhausted its initial capital and is operating entirely on the hope of future milestone payments or equity dilution. This structure leaves common shareholders with no tangible book value and places the firm in a precarious position regarding potential future financing terms.
As evidenced by quarterly filings, deferred revenue has fluctuated significantly, dropping from $57.2 million in 2025Q4 to $29.0 million in 2026Q1, which suggests that the company's ability to recognize revenue from its Seed Therapeutics platform remains highly inconsistent and dependent on specific, non-recurring partnership events.
The volatility in deferred revenue highlights the lack of predictable, recurring income streams, making it difficult to forecast the company's future cash inflows. This reliance on lumpy milestone recognition creates a disconnect between accounting revenue and actual cash availability, further complicating the assessment of the firm's long-term viability.
Quick answers to the most common questions about buying BYSI stock.
As of 2025, BeyondSpring Inc. (BYSI) had total assets of $25.9M including $20.9M in current assets.
BeyondSpring Inc. (BYSI) carries total debt of $0.3M, offset by $12.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
BeyondSpring Inc. (BYSI) has total shareholders' equity (book value) of $-32.2M ($-0.59 book value per share). Book value represents the net worth of the company belonging to common stock holders.
BeyondSpring Inc. (BYSI) reported a current ratio of 1.54x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.