Beyond Air® Announces Termination of Agreement to Sell Its NeuroNOS Subsidiary to XTL Biopharmaceuticals Ltd.
Rhea-AI Summary
Beyond Air (NASDAQ: XAIR) announced that the previously disclosed proposed sale of its NeuroNOS subsidiary to XTL Biopharmaceuticals Ltd. will not proceed. A January 2026 letter of intent expired on March 9, 2026 and the parties did not execute a definitive agreement.
The company said it will retain its interest in NeuroNOS, continue to evaluate strategic alternatives for the NeuroNOS platform, and remain focused on advancing its core nitric oxide platform and LungFit programs.
Positive
- Retains majority ownership of NeuroNOS (LOI expired Mar 9, 2026)
- Will continue evaluating strategic alternatives for NeuroNOS
- Remains focused on advancing core nitric oxide platform and LungFit programs
Negative
- Proposed sale to XTL terminated; no definitive agreement (LOI expired Mar 9, 2026)
News Market Reaction – XAIR
In the Mar 10 session, XAIR declined 4.02%, reflecting a moderate negative market reaction. Argus tracked a trough of -3.0% from its starting point during tracking. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 20 | Clinical review commentary | Positive | -7.3% | Independent review on high-dose inhaled nitric oxide antimicrobial potential. |
| Feb 13 | Earnings and update | Positive | +2.9% | Q3 2026 results with 105% YoY revenue growth and NeuroNOS LOI terms. |
| Feb 04 | Clinical data abstract | Positive | -5.2% | Selection to present Phase 1 UNO data at AACR 2026 meeting. |
| Jan 27 | Investor conferences | Neutral | -5.9% | Planned participation in two early-February healthcare investor conferences. |
| Jan 26 | Earnings call schedule | Neutral | -7.5% | Announcement of date and access details for Q3 2026 results call. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent XAIR news often saw negative next-day moves, even on seemingly constructive updates, with earnings being the main exception showing a positive reaction.
Over the last few months, XAIR has released a series of updates on its nitric oxide platforms and corporate activities. A Jan 14 LOI to sell 85% of NeuroNOS to XTL and subsequent earnings on Feb 13 highlighted revenue growth and that proposed transaction. Other items included conference participation and clinical data presentations. Several of these events saw share price declines, making today’s positive move on the NeuroNOS deal termination a divergence from prior reactions.
Key Terms
letter of intent financial
definitive agreement financial
small-molecule medical
oncology medical
nitric oxide medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
GARDEN CITY, N.Y., March 10, 2026 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR) (“Beyond Air” or the “Company”), a commercial stage medical device and biopharmaceutical company focused on harnessing the power of nitric oxide (NO) to improve the lives of patients, today announced that the previously disclosed proposed transaction with XTL Biopharmaceuticals Ltd. (“XTL”) relating to Beyond Air’s NeuroNOS subsidiary has been terminated.
The companies entered into a letter of intent in January 2026 regarding a potential transaction in which XTL would acquire Beyond Air’s majority ownership interest in NeuroNOS Ltd. The letter of intent expired on March 9, 2026, in accordance with its terms, and the parties did not enter into a definitive agreement.
“While the proposed transaction will not proceed, Beyond Air remains committed to maximizing the value of the NeuroNOS platform,” said Steve Lisi, Chairman and Chief Executive Officer of Beyond Air. “We continue to believe NeuroNOS represents a compelling opportunity based on its proprietary small-molecule platform and development programs targeting neurological disorders and oncology.”
Beyond Air will continue to evaluate strategic alternatives for NeuroNOS and remains focused on advancing its core nitric oxide platform and LungFit® programs
About Beyond Air®, Inc.
Beyond Air is a commercial-stage medical device and biopharmaceutical company dedicated to harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders, and solid tumors. The Company has received FDA approval and CE Mark for its first system, LungFit PH, for the treatment of term and near-term neonates with hypoxic respiratory failure. Beyond Air is currently advancing its other revolutionary LungFit systems in clinical trials for the treatment of severe lung infections such as viral community-acquired pneumonia (including COVID-19) and nontuberculous mycobacteria (NTM).
About NeuroNOS
NeuroNOS is at the forefront of developing innovative treatments for neurodevelopmental and neurodegenerative disorders. The company specializes in creating therapies based on small molecules that cross the blood-brain barrier to regulate Nitric Oxide (NO) levels in the brain. Preclinical studies conducted by NeuroNOS have demonstrated that NO is present at elevated levels in children with Autism Spectrum Disorder (ASD) and adults suffering from brain-related diseases, such as Alzheimer's and brain cancers. The company's research has shown that managing NO levels in the brain is crucial for maintaining normal brain function. By leveraging this groundbreaking science, NeuroNOS aims to bring transformative therapies to those affected by these challenging conditions, ultimately improving individuals' lives. Through collaborations with leading research institutions and experts in the field, the company is committed to advancing medical innovation and delivering life-changing treatments. For more information, please visit https://www.neuro-nos.com.
Forward Looking Statements
This press release contains “forward-looking statements” concerning the potential safety and efficacy of inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate, as well as its therapeutic potential in a number of indications; and the potential impact on patients and anticipated benefits associated with inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate. Forward-looking statements include statements about expectations, beliefs, or intentions regarding product offerings, business, results of operations, strategies or prospects. You can identify such forward-looking statements by the words “appears,” “expects,” “plans,” “anticipates,” “believes” “expects,” “intends,” “looks,” “projects,” “goal,” “assumes,” “targets” and similar expressions and/or the use of future tense or conditional constructions (such as “will,” “may,” “could,” “should” and the like) and by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from any future results expressed or implied by the forward-looking statements. These forward-looking statements are only predictions and reflect views as of the date they are made with respect to future events and financial performance. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including risks related to the ability to raise additional capital; the timing and results of future pre-clinical studies and clinical trials; the potential that regulatory authorities, including the FDA and comparable non-U.S. regulatory authorities, may not grant or may delay approval for our product candidates; the approach to discover and develop novel drugs, which is unproven and may never lead to efficacious or marketable products; the ability to fund and the results of further pre-clinical studies and clinical trials of our product candidates; obtaining, maintaining and protecting intellectual property utilized by products; obtaining regulatory approval for products; competition from others using similar technology and others developing products for similar uses; dependence on collaborators; and other risks, which may, in part, be identified and described in the “Risk Factors” section of Beyond Air’s most recent Annual Report on Form 10-K and other of its filings with the Securities and Exchange Commission, all of which are available on Beyond Air’s website. Beyond Air undertakes no obligation to update, and have no policy of updating or revising, these forward-looking statements, except as required by applicable law.
CONTACTS:
Investor Relations contacts
Corey Davis, Ph.D.
LifeSci Advisors, LLC
Cdavis@lifesciadvisors.com
(212) 915-2577
