Beyond Air® Appoints Dan Moorhead as Chief Financial Officer

Rhea-AI Summary

Beyond Air (NASDAQ: XAIR) appointed Dan Moorhead as Chief Financial Officer, effective January 5, 2026. Duke Dewrell will resume his prior role as Controller on that date.

Mr. Moorhead brings >20 years of finance leadership, including serving as CFO of Zynex from June 2017 to August 2025. The company granted an inducement option exercisable for 70,000 shares, effective January 5, 2026, with a 10-year term and four-year vesting (25% after one year, then annual thirds). The exercise price equals the last reported Nasdaq sale price on December 31, 2025. The award was approved by the independent compensation committee and is subject to the company's equity incentive plan.

Positive

• CFO appointment effective Jan 5, 2026
• 20+ years of finance leadership experience
• Inducement option aligns CFO with long-term performance

Negative

• Inducement option for 70,000 shares introduces potential shareholder dilution
• Exercise price tied to Dec 31, 2025 last sale price (market-timed)

Key Figures

CFO start date January 5, 2026 Effective date of Dan Moorhead’s appointment as CFO

Inducement option size 70,000 shares Common stock underlying inducement stock option grant

Option term 10 years Term of the inducement stock option award

Vesting period 4 years Total vesting period for inducement stock option

Initial vesting tranche 25% Portion vesting on first anniversary of grant date

Finance experience More than 20 years Dan Moorhead’s finance leadership experience

Market Reality Check

$0.6991 Last Close

Volume Volume 182,523 is 1.33x the 20-day average of 136,835 ahead of this CFO announcement. normal

Technical Shares at $0.7046 are trading below the 200-day MA of $3 and sit close to the 52-week low of $0.6733 and far from the 52-week high of $11.2.

Peers on Argus

XAIR fell 6.33% with peers SINT (-3.49%), AIMD (-2.56%), INBS (-9.66%) and NVNO (-5.4%) also down, while DHAI was flat, indicating broader weakness in related small-cap medical device names.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 17	Distribution agreements	Positive	+2.7%	New LungFit PH distribution deals expanding reach to 39 countries.
Nov 26	CFO transition	Neutral	+1.5%	Planned CFO resignation with interim appointment and continued advisory role.
Nov 10	Earnings and update	Neutral	-1.1%	Q2 FY2026 results, stronger revenue and guidance but ongoing losses.
Nov 05	Financing agreements	Positive	+1.1%	Up to $32M in promissory note and equity line to extend cash runway.
Oct 23	Earnings call notice	Neutral	+4.0%	Scheduling of Q2 FY2026 results release and conference call.

Pattern Detected

Recent company news, including financing and international LungFit PH agreements, has generally seen modestly positive or limited stock reactions, with only one mild divergence on earnings.

Recent Company History

Over the last few months, Beyond Air reported fiscal Q2 FY2026 results on Nov 10, 2025, highlighting $1.8M in revenue and updated $8–$10M guidance alongside ongoing losses and going-concern language. The company then secured up to $32M in financing on Nov 5, 2025 and expanded LungFit PH distribution to 39 countries via new agreements on Dec 17, 2025. A CFO transition was announced on Nov 26, 2025. Today’s permanent CFO appointment follows that transition and recent capital-raising steps.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-09-30

Beyond Air has an active S-3/A shelf filed on Sep 30, 2025 expiring Sep 30, 2028, which is not yet effective and shows 1 recorded usage via a 424B3 supplement on Dec 16, 2025. Separately, recent SEC filings describe an equity line and promissory note financing with Streeterville and related resale registration of up to 1,600,000 shares.

Market Pulse Summary

This announcement establishes permanent financial leadership with Dan Moorhead’s appointment as CFO effective January 5, 2026, replacing the recent interim structure. The inducement grant of 70,000 options with a four-year vesting schedule ties compensation to long-term performance. In context of recent financing with Streeterville and the active S-3/A shelf, investors may monitor future capital-raising activity, progress toward anticipated FDA decisions for second-generation LungFit PH, and updates on revenue growth versus ongoing losses.

Key Terms

nitric oxide medical

"focused on harnessing the power of nitric oxide (NO) to improve the lives"

A simple signaling molecule made of one nitrogen and one oxygen atom that acts like a tiny messenger in the body, telling blood vessels to widen, controlling breathing and influencing immune responses. Investors care because products that deliver, mimic, or measure this gas—such as inhaled therapies, drugs that boost its effects, or diagnostic tests—can affect patient outcomes, regulatory approvals and market value; think of it as a traffic controller for blood and air flow whose tools can become investable medical products.

exercise price financial

"is exercisable for the purchase of 70,000 shares ... at an exercise price equal"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

equity incentive plan financial

"subject to the terms and conditions of the Company's Amended and Restated 2013 Equity Incentive Plan"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

FDA approval regulatory

"team prepares for the highly anticipated FDA approval of the second generation"

FDA approval is the U.S. Food and Drug Administration’s formal authorization for a drug, vaccine, or medical device to be marketed and sold after reviewers determine it meets standards for safety and effectiveness. For investors it’s a pivotal milestone because it opens the door to legal, large-scale sales and can sharply boost revenue potential while reducing regulatory uncertainty—like receiving a safety certificate that lets a new bridge carry traffic and tolls.

AI-generated analysis. Not financial advice.

GARDEN CITY, N.Y., Dec. 30, 2025 (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 the appointment of Dan Moorhead as Chief Financial Officer, effective January 5, 2026. Duke Dewrell, the Company's Controller, who had assumed CFO responsibilities at the Company on an interim basis in November 2025, will resume his prior role as of that date.

"It is a pleasure to welcome Dan to the Beyond Air team,” said Steve Lisi, Chairman and Chief Executive Officer of Beyond Air. “He brings a strong track record of guiding companies through significant growth and developing high-performing finance organizations that can support commercial scale. I look forward to leveraging his experience as we continue advancing our strategy and build a market-leading company.”

“I am honored to join the Beyond Air team at such a pivotal moment in the Company’s evolution. As market awareness continues to build around LungFit PH and the team prepares for the highly anticipated FDA approval of the second generation LungFit PH and subsequent commercial launch, I look forward to working closely with the leadership team to ensure strong financial stewardship and support the successful execution of our commercial strategy,” stated Mr. Moorhead.

Mr. Moorhead brings more than 20 years of finance leadership experience across both public and private companies. From June 2017 to August 2025, he served as Chief Financial Officer of Zynex, Inc., a publicly traded, commercial-stage medical device company, where he implemented a disciplined budgeting and forecasting framework and supported the company’s multi-year commercial expansion. Prior to Zynex, Mr. Moorhead spent 10 years at Evolving Systems, Inc. (acquired by PartnerOne, Inc.), serving as Chief Financial Officer following earlier roles as Vice President of Finance & Administration and Corporate Controller. Mr. Moorhead is a CPA and holds a B.B.A. in Accounting from the University of Northern Colorado.

In connection with his appointment, the Company granted an inducement stock option award (the "Inducement Option") to Mr. Moorhead upon his entering into employment with the Company in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4) (the "Inducement Award"). The Inducement Option is being granted effective as of January 5, 2026 and is exercisable for the purchase of 70,000 shares of the Company's common stock, at an exercise price equal to the last reported sale price on Nasdaq on December 31, 2025. The Inducement Award was approved by the independent compensation committee of the Board in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4). The Inducement Option has a ten-year term and will vest over a four-year period, with 25% of the shares underlying the stock option award vesting on the first anniversary of the date of grant and annually thereafter in three equal installments, subject to Mr. Moorhead's continued service with the Company through the applicable vesting dates. The Inducement Award is subject to the terms and conditions of the Company's Amended and Restated 2013 Equity Incentive Plan.

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).

The Company has also partnered with The Hebrew University of Jerusalem to advance a pre-clinical program dedicated to the treatment of autism spectrum disorder (ASD) and other neurological disorders. Additionally, Beyond Cancer, Ltd., an affiliate of Beyond Air, is investigating ultra-high concentrations of NO with a proprietary delivery system to target certain solid tumors in the pre-clinical setting. For more information, visit www.beyondair.net.

About LungFit *
Beyond Air's LungFit is a cylinder-free, phasic flow generator and delivery system designated as a medical device by the U.S. Food and Drug Administration (FDA). The ventilator-compatible version of the device can generate NO from ambient air on demand for delivery to the lungs at concentrations ranging from 1 ppm to 80 ppm. The LungFit system could potentially replace large, high-pressure NO cylinders, providing significant advantages in the hospital setting, including greatly reducing inventory and storage requirements, improving overall safety by eliminating NO2 purging steps, and offering other operational benefits.

LungFit can also deliver NO at concentrations at or above 80 ppm for potentially treating severe acute lung infections in the hospital setting (e.g., COVID-19, bronchiolitis) and chronic, refractory lung infections in the home setting (e.g., NTM). With the elimination of cylinders, Beyond Air intends to offer NO treatment in the home setting.

*Beyond Air's LungFit PH is approved for commercial use in the United States, European Union, and many other countries around the world. Beyond Air's other LungFit systems are not approved for commercial use and are for investigational use only. Beyond Air is not suggesting NO use over 80 ppm or use at home.

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 and Beyond Cancer undertake 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

FAQ

Who is the new CFO of Beyond Air (NASDAQ: XAIR) and when does he start?

Dan Moorhead will become CFO of Beyond Air effective January 5, 2026.

What is the inducement award granted to Beyond Air's new CFO (XAIR)?

An inducement stock option exercisable for 70,000 shares, with a 10-year term and four-year vesting.

How is the exercise price determined for the XAIR CFO option?

The exercise price equals the last reported Nasdaq sale price on December 31, 2025.

What is the vesting schedule for Dan Moorhead's XAIR option award?

25% vests on the first anniversary of grant, then annually in three equal installments.

Who will serve as Beyond Air's Controller after the CFO appointment (XAIR)?

Duke Dewrell will resume his prior role as Controller as of January 5, 2026.

What experience does Dan Moorhead bring to Beyond Air (XAIR)?

More than 20 years of finance leadership, including CFO of Zynex from June 2017–Aug 2025.