Beyond Air Inc Stock Price, News & Analysis

Beyond Air, Inc. (NASDAQ: XAIR) announced acceptance of two e-posters for the CHEST 2020 Annual Meeting from October 18th to 21st. The first study evaluates two doses of inhaled nitric oxide for bronchiolitis, led by Aviv Goldbart, MD. The second highlights nitric oxide's potential as an anti-coronavirus agent, authored by Matan Goldshtein, PhD. Beyond Air's LungFit™ system is in clinical trials targeting severe lung infections, including COVID-19. For more details, the e-posters will be available on the CHEST 2020 website and Beyond Air's site.

Beyond Air, Inc. (NASDAQ: XAIR) announced the acceptance of its e-poster presentation at the IASLC North America Conference on Lung Cancer 2020, scheduled for October 16-17, 2020. The presentation, titled New Class of Cancer Vaccination Using a Single Injection of Nitric Oxide Shows Promising Results in a Lung Cancer Mouse Model, will be led by Hila Confino, PhD. This highlights the company's focus on innovative treatments using inhaled nitric oxide for respiratory conditions and solid tumors. The final e-poster and audio presentation will be available on the NACLC website and Beyond Air's website.

Beyond Air, Inc. (NASDAQ: XAIR) reported results from a compassionate use case study of inhaled nitric oxide (NO) for treating pulmonary Mycobacterium abscessus disease. Conducted at the National Heart, Lung, and Blood Institute, the study involved a 24-year-old cystic fibrosis patient with treatment-resistant M. abscessus. After a 21-day treatment regimen, the patient experienced improved respiratory symptoms and quality of life, although no significant change in bacterial cultures was noted. Results indicate a heterogeneous response to NO, suggesting longer treatments may be necessary for resistant strains. A 12-week study is planned for later this year.

Beyond Air, Inc. (NASDAQ: XAIR) reported its fiscal first-quarter results ending June 30, 2020, with revenues of $229,161, a decrease from $627,469 year-over-year. The company incurred a net loss of $6.7 million (or ($0.40) per share) compared to a net loss of $6.2 million (or ($0.67) per share) last year. Key developments include initiating a U.S. COVID-19 clinical study, executing a commercial supply agreement for the LungFit™ system, and achieving positive results in bronchiolitis studies. The PMA for LungFit™ PH is expected to be submitted to the FDA by the end of September 2020.

Beyond Air, Inc. (NASDAQ: XAIR) announced it will report financial results for its fiscal first quarter on August 6, 2020, before market opening. The conference call and webcast will begin at 8:30 a.m. ET. Beyond Air focuses on developing inhaled Nitric Oxide for respiratory conditions, including severe lung infections and pulmonary hypertension. Their innovative LungFit™ device generates NO from ambient air, delivering it precisely to patients. The company is advancing clinical trials targeting infections like SARS-CoV-2 and exploring treatment options for solid tumors in pre-clinical settings.

Beyond Air, Inc. (NASDAQ: XAIR) announced significant clinical progress and financial results for Q4 and the fiscal year ended March 31, 2020. The company achieved primary and secondary endpoints in a bronchiolitis study using high concentration nitric oxide. It also enrolled the first patient in a U.S. COVID-19 study and received Health Canada's approval for a similar study. Financially, Beyond Air reported a revenue decrease to $1.4 million from $7.7 million year-over-year, with a net loss of $20.5 million for the fiscal year. The company ended with $25.5 million in cash.

Beyond Air, Inc. (NASDAQ: XAIR) announced financial results for the fiscal fourth quarter and year ended March 31, 2020, to be reported after market close on June 22, 2020. The management team will host a conference call and webcast at 4:30 p.m. ET on the same day. Beyond Air is developing the LungFit™ system to deliver inhaled nitric oxide for treating pulmonary diseases, including severe lung infections and pulmonary hypertension. The device has the potential to generate up to 400 ppm of nitric oxide, which may address conditions inadequately treated by existing methods.

Beyond Air, Inc. (NASDAQ: XAIR) announced positive results from its third pilot study of inhaled Nitric Oxide (NO) in treating bronchiolitis in infants. The study revealed that 150 ppm NO significantly improved time to discharge and reduced hospital stay compared to lower concentrations and controls. Conducted in Israel with 89 participants under 12 months, the trial reported no serious adverse events related to NO therapy. The CEO emphasized the importance of these findings for future studies, particularly in COVID-19 treatments.

Beyond Air, Inc. (NASDAQ: XAIR) announced a new common stock purchase agreement with Lincoln Park Capital Fund, LLC for up to $40 million. This agreement extends until May 2023 and replaces an old one set to expire in August 2021. The company can sell 325,000 shares at $8.58 each, a 10% premium to the recent average price. This capital aims to support the advancement of its LungFit™ programs amid macroeconomic uncertainty. The agreement allows Beyond Air to control timing and terms of future investments without extensive financial covenants.