Form 4: Decheng Capital Disposes 54,728 BeyondSpring Shares, Keeps Large Stakes
Rhea-AI Filing Summary
Decheng Capital entities and Dr. Xiangmin Cui reported insider sales of BeyondSpring Inc. (BYSI) ordinary shares on August 18-20, 2025. The filing shows three reported dispositions totaling 54,728 shares sold by Decheng Capital China Life Sciences USD Fund III, L.P. at weighted average prices of $2.03 (47,668 shares), $1.77 (3,604 shares) and $1.74 (3,456 shares). After these transactions, Fund III reported beneficial ownership of 1,919,444 shares (indirect). Related Decheng entities also reported indirect holdings of 1,617,409 and 891,734 shares respectively. The filing includes standard footnotes explaining weighted average prices and the indirect ownership through GP and manager relationships.
Positive
- Comprehensive disclosure of insider sales with weighted-average price ranges and post-transaction beneficial ownership figures
- Substantial indirect holdings remain across Decheng funds: 1,919,444; 1,617,409; and 891,734 shares
Negative
- Insider dispositions total 54,728 shares sold on August 18-20, 2025 at weighted-average prices between $1.74 and $2.03
- Sales indicate a reduction in Fund III's indirect stake (now 1,919,444 shares) compared with pre-transaction levels shown in the form
Insights
TL;DR: Reporting persons executed modest insider sales totalling 54,728 BYSI shares over three days; significant indirect holdings remain.
The Form 4 discloses systematic dispositions by Decheng Capital China Life Sciences USD Fund III, L.P. across August 18-20, 2025, at weighted average prices between $1.74 and $2.03. These sales reduced Fund III's reported indirect stake to 1,919,444 shares but leave substantial aggregate indirect ownership when combined with Fund II and Healthcare master fund positions. The filing is explicit about price ranges and clarifies beneficial ownership via GP entities and Dr. Cui's manager role, without reporting derivative transactions.
TL;DR: Multiple Decheng entities and Dr. Cui properly disclosed insider dispositions and indirect ownership; disclosures include required footnotes.
The submission follows Section 16 reporting conventions: it lists the reporting persons, their addresses, relation to the issuer (director and 10% owner boxes checked), transaction codes ("S" for sale), and post-transaction indirect holdings. Footnotes document weighted-average pricing ranges and the chain of beneficial ownership through GP entities and managerial roles. No amendments or derivative holdings are reported, and signatures are provided for all reporting entities.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 3,456 | $1.74 | $6K |
| Sale | Ordinary Shares | 3,604 | $1.77 | $6K |
| Sale | Ordinary Shares | 47,668 | $2.03 | $97K |
| 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 $1.85 to $2.04 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 $1.75 to $1.85 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.72 to $1.76 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.
