<SEC-DOCUMENT>0001415889-25-022967.txt : 20250825
<SEC-HEADER>0001415889-25-022967.hdr.sgml : 20250825
<ACCEPTANCE-DATETIME>20250825194654
ACCESSION NUMBER:		0001415889-25-022967
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250821
FILED AS OF DATE:		20250825
DATE AS OF CHANGE:		20250825

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Cui Xiangmin
		CENTRAL INDEX KEY:			0001487815
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38024
		FILM NUMBER:		251252333

	MAIL ADDRESS:	
		STREET 1:		NO. 14 EAST HUSHAN ROAD
		STREET 2:		TAI'AN CITY
		CITY:			SHANDONG
		STATE:			F4
		ZIP:			000000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Decheng Capital China Life Sciences USD Fund II, L.P.
		CENTRAL INDEX KEY:			0001650291
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38024
		FILM NUMBER:		251252336

	BUSINESS ADDRESS:	
		STREET 1:		MAPLES CORPORATE SERVICES, UGLAND HOUSE
		STREET 2:		PO BOX 309, SOUTH CHURCH ST, GEORGE TOWN
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		345-949-8066

	MAIL ADDRESS:	
		STREET 1:		MAPLES CORPORATE SERVICES, UGLAND HOUSE
		STREET 2:		PO BOX 309, SOUTH CHURCH ST, GEORGE TOWN
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Decheng Capital China Life Sciences USD Fund III, L.P.
		CENTRAL INDEX KEY:			0001736814
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38024
		FILM NUMBER:		251252338

	BUSINESS ADDRESS:	
		STREET 1:		UGLAND HOUSE, PO BOX 309
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		345-949-8066

	MAIL ADDRESS:	
		STREET 1:		UGLAND HOUSE, PO BOX 309
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Decheng Capital Global Healthcare GP, LLC
		CENTRAL INDEX KEY:			0001949027
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38024
		FILM NUMBER:		251252334

	BUSINESS ADDRESS:	
		STREET 1:		UGLAND HOUSE, PO BOX 309
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		(345) 949-8066

	MAIL ADDRESS:	
		STREET 1:		UGLAND HOUSE, PO BOX 309
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Decheng Capital Management III (Cayman), LLC
		CENTRAL INDEX KEY:			0001747821
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38024
		FILM NUMBER:		251252337

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 309
		STREET 2:		UGLAND HOUSE
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		345-949-8066

	MAIL ADDRESS:	
		STREET 1:		PO BOX 309
		STREET 2:		UGLAND HOUSE
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Decheng Capital Global Healthcare Fund (Master), LP
		CENTRAL INDEX KEY:			0001949026
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38024
		FILM NUMBER:		251252335

	BUSINESS ADDRESS:	
		STREET 1:		UGLAND HOUSE, PO BOX 309
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		(345) 949-8066

	MAIL ADDRESS:	
		STREET 1:		UGLAND HOUSE, PO BOX 309
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BeyondSpring Inc.
		CENTRAL INDEX KEY:			0001677940
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		100 CAMPUS DRIVE, WEST SIDE, 4TH FLOOR
		STREET 2:		SUITE 410
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932
		BUSINESS PHONE:		646-528-4184

	MAIL ADDRESS:	
		STREET 1:		100 CAMPUS DRIVE, WEST SIDE, 4TH FLOOR
		STREET 2:		SUITE 410
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-08252025_110849.xml
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<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-08-21</periodOfReport>

    <issuer>
        <issuerCik>0001677940</issuerCik>
        <issuerName>BeyondSpring Inc.</issuerName>
        <issuerTradingSymbol>BYSI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001736814</rptOwnerCik>
            <rptOwnerName>Decheng Capital China Life Sciences USD Fund III, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DECHENG CAPITAL</rptOwnerStreet1>
            <rptOwnerStreet2>3000 SAND HILL ROAD, BLDG. 2, SUITE 110</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001747821</rptOwnerCik>
            <rptOwnerName>Decheng Capital Management III (Cayman), LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DECHENG CAPITAL</rptOwnerStreet1>
            <rptOwnerStreet2>3000 SAND HILL ROAD, BLDG. 2, SUITE 110</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001650291</rptOwnerCik>
            <rptOwnerName>Decheng Capital China Life Sciences USD Fund II, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DECHENG CAPITAL</rptOwnerStreet1>
            <rptOwnerStreet2>3000 SAND HILL ROAD, BLDG. 2, SUITE 110</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
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            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001949026</rptOwnerCik>
            <rptOwnerName>Decheng Capital Global Healthcare Fund (Master), LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DECHENG CAPITAL</rptOwnerStreet1>
            <rptOwnerStreet2>3000 SAND HILL ROAD, BLDG. 2, SUITE 110</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
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            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001949027</rptOwnerCik>
            <rptOwnerName>Decheng Capital Global Healthcare GP, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DECHENG CAPITAL</rptOwnerStreet1>
            <rptOwnerStreet2>3000 SAND HILL ROAD, BLDG. 2, SUITE 110</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001487815</rptOwnerCik>
            <rptOwnerName>Cui Xiangmin</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DECHENG CAPITAL</rptOwnerStreet1>
            <rptOwnerStreet2>3000 SAND HILL ROAD, BLDG. 2, SUITE 110</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2025-08-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3034</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.79</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1916410</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Decheng Capital China Life Sciences USD Fund III, L.P.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2025-08-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2376</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.75</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1914034</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Decheng Capital China Life Sciences USD Fund III, L.P.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2025-08-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>300</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.77</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1913734</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Decheng Capital China Life Sciences USD Fund III, L.P.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1617409</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Decheng Capital China Life Sciences USD Fund II, L.P.</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>891734</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Decheng Capital Global Healthcare Fund (Master), LP</value>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.74 to $1.86 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F2">These securities are held directly by Decheng Capital China Life Sciences USD Fund III, L.P. (&quot;Fund III&quot;). Decheng Capital Management III (Cayman), LLC (&quot;GP III&quot;) is the general partner of Fund III. Dr. Cui is the manager of GP III. Each of Fund III, GP III and Dr. Cui may be deemed to beneficially own the securities held by Fund III. Each of GP III and Dr. Cui disclaims beneficial ownership of these securities, except to the extent of its or his proportionate pecuniary interest therein.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.75 to $1.77 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F4">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.75 to $1.78 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F5">These securities are held directly by Decheng Capital China Life Sciences USD Fund II, L.P. (&quot;Fund II&quot;). Decheng Capital Management II (Cayman), LLC (&quot;GP II&quot;) is the general partner of Fund II. Dr. Cui is the manager of GP II. Each of Fund II, GP II and Dr. Cui may be deemed to beneficially own the securities held by Fund II. Each of GP II and Dr. Cui disclaims beneficial ownership of these securities, except to the extent of its or his proportionate pecuniary interest therein.</footnote>
        <footnote id="F6">These securities are held directly by Decheng Capital Global Healthcare Fund (Master), LP (&quot;Healthcare&quot;). Decheng Capital Global Healthcare GP, LLC (&quot;Healthcare GP&quot;) is the general partner of Healthcare. Dr. Cui is the manager of Healthcare GP. Each of Healthcare GP and Dr. Cui may be deemed to beneficially own the securities held by Healthcare. Each of Healthcare GP and Dr. Cui disclaims beneficial ownership of these securities, except to the extent of its or his proportionate pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Decheng Capital China Life Sciences USD Fund III, L.P., By Decheng Capital Management III (Cayman), LLC, its General Partner, By /s/ Xiangmin Cui, Manager</signatureName>
        <signatureDate>2025-08-25</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Decheng Capital Management III (Cayman), LLC, By /s/Xiangmin Cui, Manager</signatureName>
        <signatureDate>2025-08-25</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Decheng Capital China Life Sciences USD Fund II, L.P., By Decheng Capital Management II (Cayman), LLC, its General Partner, By /s/ Xiangmin Cui, Manager</signatureName>
        <signatureDate>2025-08-25</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Decheng Capital Global Healthcare Fund (Master), LP, By Decheng Capital Global Healthcare GP, LLC, its General Partner, By Decheng Capital LLC, its Manager, By /s/ Xiangmin Cui, Manager</signatureName>
        <signatureDate>2025-08-25</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Decheng Capital Global Healthcare GP, LLC, By Decheng Capital LLC, its Manager, By /s/ Xiangmin Cui, Manager</signatureName>
        <signatureDate>2025-08-25</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Xiangmin Cui</signatureName>
        <signatureDate>2025-08-25</signatureDate>
    </ownerSignature>
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