BeyondSpring dives after FDA declines to approve blood disorder drug

Beyondspring

01/12/2021 13:56

** Shares of drug developer  BYSI.O  down 49.6% at $6.44
premarket, set to open at a record low 
    ** U.S. FDA declines to approve co's experimental therapy,
plinabulin, for prevention of chemotherapy-induced neutropenia
(CIN), citing need for an additional study  urn:newsml:reuters.com:*:nL4N2SM34W 
    ** Neutropenia refers to a decrease in the number of white
blood cells, a common complication of chemotherapy
    ** FDA says that data from co's late-stage study did not
sufficiently provide evidence of benefit
    ** Co says it will work closely with the FDA to continue
development of the drug 
    ** Up to Tuesday's close, stock had risen 4.67% YTD 
    
    

 (Reporting by Oishee Majumdar in Bengaluru)
 ((oishee.majumdar@thomsonreuters.com;))