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 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.