INSTITUTIONAL RESEARCH Biotechnology INITIATION REPORT Member FINRA/SIPC Toll-Free: 561-391-5555 ⬧ www.DawsonJames.com ⬧ 1 North Federal Highway - Suite 500 ⬧ Boca Raton, FL 33432 BeyondSpring (NASDAQ/BYSI) August 16, 2019 BUY: A New Approach to Cancer Chemo Care Jason H. Kolbert BeyondSpring’s Plinabulin is well positioned to change the treatment paradigm for Head of Healthcare Research cancer. Plinabulin is advancing towards approval for NSCLC treatment and 646-465-6891 chemotherapy-induced neutropenia (CIN) prevention in both the U.S. and China.
[email protected] Investment Highlights The Market Opportunity (China initially, the U.S.) for NSCLC is Large. It’s projected that with over $122B in pharmaceutical sales, China is one of the largest markets in the world. Some forecasts project revenues to reach over $167B by 2020 with an annual growth Current Price $16.00 rate approaching 10%. There are over two million cases of lung cancer every year worldwide, Price Target $39.00 with the mortality rate from the disease in China expected to increase by 40% over the next Estimates F2019E F2020E F2020E 10 years. BeyondSpring and Plinabulin have great potential to address what many see as an Expenses ($000s) $ 45,000 $ 57,736 $ 68,001 1Q March $ 7,969 $ 13,279 $ 15,640 unmet medical need. 2Q June $ 10,800 $ 13,857 $ 16,320 3Q September $ 11,700 $ 15,011 $ 17,680 Prophylactic Advantage in Fighting Neutropenia. Presently, the market for 4Q December $ 14,531 $ 15,589 $ 18,360 Estimates F2019E F2020E F2020E chemotherapy-induced neutropenia (CIN) is dominated by Neulasta and Neupogen.