BYSI Form 4: Decheng Funds and Dr. Cui Disclose Multi-Day Share Sales
Rhea-AI Filing Summary
Decheng Capital affiliates and Dr. Xiangmin Cui reported sales of BeyondSpring Inc. (BYSI) ordinary shares across three days in September 2025. The filings show Fund III sold 9,050 shares on 09/09/2025 at a weighted average price of $1.97, 8,176 shares on 09/10/2025 at $1.93, and 3,820 shares on 09/11/2025 at $1.90 (weighted averages covering ranges $1.90–$2.00 and $1.87–$1.94). After these transactions Fund III beneficially owned 1,874,710 shares. Related Decheng entities report additional indirect holdings: Fund II 1,617,409 shares and Global Healthcare Fund 891,734 shares. The Form 4s identify Decheng Capital Management entities and Dr. Cui as reporting persons and include standard disclosure footnotes about beneficial ownership and weighted average pricing.
Positive
- Timely disclosure of insider transactions via Form 4s covering 09/09/2025 through 09/11/2025
- Detailed pricing disclosure including weighted-average prices and stated price ranges with offer to provide per-trade breakdown
- Clear post-transaction holdings reported for Fund III (1,874,710 shares), Fund II (1,617,409 shares) and Global Healthcare Fund (891,734 shares)
Negative
- Insider dispositions occurred: Fund III sold 9,050, 8,176 and 3,820 shares on 09/09–09/11/2025 respectively
- Concentration remains with related parties: multiple Decheng entities and the manager are named as potentially beneficial owners, indicating significant indirect holdings
Insights
TL;DR: Multiple disclosed insider sales by Decheng funds and the manager over three days, with detailed weighted-average prices and post-sale holdings.
The Form 4 filings present sequential dispositions totaling 21,046 shares from Fund III across 09/09–09/11/2025 with weighted-average prices reported and a clear reconciliation of post-transaction beneficial ownership of 1,874,710 shares for Fund III. The filings properly identify related reporting entities and include standard footnotes explaining indirect ownership through general partners and manager roles. For investors assessing ownership concentration, the filings provide explicit post-sale share counts for three Decheng entities.
TL;DR: Filing demonstrates compliance with Section 16 reporting; multiple related parties signed and disclosed indirect ownership.
The documents show formal execution by Decheng Capital entities and Xiangmin Cui with attestations and footnotes clarifying that GP entities and Dr. Cui may be deemed beneficial owners but disclaim ownership except for pecuniary interest. The inclusion of weighted average price footnotes and offer to provide per-price details on request aligns with disclosure norms. This is a routine disclosure of insider transactions rather than a governance action altering control.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 3,820 | $1.90 | $7K |
| Sale | Ordinary Shares | 8,176 | $1.93 | $16K |
| Sale | Ordinary Shares | 9,050 | $1.97 | $18K |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.90 to $2.00 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. These securities are held directly by Decheng Capital China Life Sciences USD Fund III, L.P. ("Fund III"). Decheng Capital Management III (Cayman), LLC ("GP III") 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.87 to $1.94 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. These securities are held directly by Decheng Capital China Life Sciences USD Fund II, L.P. ("Fund II"). Decheng Capital Management II (Cayman), LLC ("GP II") 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. These securities are held directly by Decheng Capital Global Healthcare Fund (Master), LP ("Healthcare"). Decheng Capital Global Healthcare GP, LLC ("Healthcare GP") 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.
