Welcome to our dedicated page for Beyond Air news (Ticker: XAIR), a resource for investors and traders seeking the latest updates and insights on Beyond Air stock.
Beyond Air, Inc. develops and commercializes nitric oxide-based medical device and biopharmaceutical programs. Its recurring news centers on LungFit PH, a tankless inhaled nitric oxide system that uses Plasma Pulse Technology to generate nitric oxide from room air, and on commercial access through hospital purchasing channels.
Company updates also cover nitric oxide programs for respiratory indications, including severe lung infections, and Beyond Cancer's ultra-high concentration nitric oxide, or UNO, platform for investigational solid-tumor immunotherapy. Additional recurring themes include clinical data presentations, scientific publications, intellectual property, leadership changes, investor conferences, and governance matters.
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.