Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 593

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1
Chunk 593
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 identify patentable aspects of our research and development
output before it is too late to obtain patent protection.

The patent position of medical
device, biotechnology and pharmaceutical companies generally is highly uncertain and involves complex legal and factual questions for
which legal principles remain unsolved. The patent applications that we own or in-license may fail to result in issued patents with claims
that cover our approved product or product candidates in the U.S. or in other foreign countries. There is no assurance that all potentially
relevant prior art relating to our patents and patent applications has been found, which can invalidate a patent or prevent a patent from
issuing from a pending patent application. Even if patents do successfully issue, and even if such patents cover our approved product
or product candidates, third parties may challenge their validity, enforceability or scope, which may result in such patents being narrowed,
found unenforceable or invalidated. Furthermore, even if they are unchallenged, our patents and patent applications may not adequately
protect our intellectual property, provide exclusivity for our approved product or product candidates or prevent others from designing
around our claims. Any of these outcomes could impair our ability to prevent competition from third parties, which may have an adverse
impact on our business.

We have filed several patent applications
directed to various aspects of our approved product and product candidates. We cannot offer any assurances about which, if any, patents
will issue, the breadth of any such patent or whether any issued patents will be found invalid and unenforceable or will be threatened
by third parties. Any successful opposition to these patents or any other patents owned by or licensed to us after patent issuance could
deprive us of rights necessary for the successful commercialization of our approved product or any product candidates that we may develop.
Further, if we encounter delays in certification or regulatory approvals, the period of time during which we could market a product candidate
under patent protection could be reduced. In addition, some or all of our patent applications may not result in issued patents.

If we cannot obtain and maintain
effective patent rights for our approved product or product candidates, we may not be able to compete effectively and our business and
results of operations would be harmed.

Intellectual property rights of third parties
could adversely affect our ability to commercialize our approved product or product candidates, and we might be required to litigate or
obtain licenses from third parties in order to develop or market our approved product or product candidates. Such litigation or licenses
could be costly