BeyondSpring Launches $11.9M ATM Program Amid Nasdaq Delisting Fight
BYSI sits 73% above its 52-week low of $0.566 on elevated volume (10.0× avg).
Summary
BeyondSpring filed a prospectus supplement for a new ATM program with Citizens JMP Securities to sell up to 9.2 million shares, capped at $11.9 million, while fighting a Nasdaq delisting notice. The ATM program carries a commission rate of up to 3.0%, and the Share Purchase Agreement targets enrollment of 221–265 patients.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — The 8-K discloses the ATM program's commission rate of up to 3.0% and the Share Purchase Agreement's target enrollment range of 221–265 patients.
Key Events · Financing and Capital Events · BYSI
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New · · SEC 8-K
Share Purchase Agreement Enrollment Target
The Share Purchase Agreement targets enrollment of 221–265 patients.
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Updated · · SEC 8-K
New ATM Program with Citizens
BeyondSpring entered into an Open Market Sale Agreement with Citizens JMP Securities to sell up to 9,200,000 ordinary shares from time to time, with a maximum aggregate offering price of $11,942,800. The ATM program carries a commission rate of up to 3.0%.
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Dilution and Pricing
At the assumed offering price of $0.7772 per share (last reported sale price on September 25, 2026), gross proceeds would be approximately $7.15 million. New investors would experience immediate dilution of $1.36 per share in net tangible book value.
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Nasdaq Delisting Risk
The company received a Nasdaq delisting notice on September 17, 2026, after its stock traded below $1.00 for 30 consecutive business days. It has until March 16, 2027, to regain compliance.
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Prior ATM Terminated
The 2019 ATM program with Jefferies LLC was terminated effective September 9, 2026, after selling 630,228 shares of the 2,202,080 shares authorized.
Analysis · BYSI · Life Sciences
BeyondSpring has entered into a new at-the-market sales agreement with Citizens JMP Securities to sell up to 9.2 million ordinary shares, capped at $11.9 million in aggregate proceeds. The ATM program carries a commission rate of up to 3.0%. The company is raising capital while its stock trades below $1.00 and it faces a Nasdaq delisting notice received September 17, 2026. The ATM provides a lifeline to fund R&D and general corporate purposes, but the drip-feed of shares into a depressed market creates persistent overhang and further dilution for existing holders. The company also disclosed the termination of its prior 2019 ATM program with Jefferies and a China divestiture of its BeyondSpring Ltd. subsidiary, signaling a strategic restructuring of its operations. The Share Purchase Agreement targets enrollment of 221–265 patients.
How filings like this one have moved
In the 30 days to Nov 3, 2026, 32.3% of the 2077 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BYSI was trading at $0.98 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $46.1M. The 52-week trading range was $0.57 to $2.44. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.