Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 63

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 sold by us under a Form S-3 registration statement,
including pursuant to the 2025 ATM, in any twelve-month period is limited to an aggregate amount that does not exceed one-third of our
public float. As of June 30, 2025, due to the SEC’s “baby shelf rules,” we are permitted to sell up to $5.8 million
of shares of common stock pursuant to the 2025 ATM. We will remain subject to the “baby shelf rules” under the Form S-3 registration
statement until such time as our public float exceeds $75.0 million. If shares of our common stock are sold, there is a 2.5% fee paid
to the sales agent.

With
respect to Beyond Cancer, discussions with investors continue in parallel to the advancement to a phase 1b combination study of UNO with
anti-PD1 therapy.

The
recent $2.0 million funding for NeuroNOS is still open as fundraising will continue for a period of time not to extend beyond the end
of calendar year 2025.

The
accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue operating as a going
concern. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the
normal course of business.

Our
future capital needs and the adequacy of our available funds will depend on many factors, including, but not necessarily limited to,
the cost and time necessary for the development, preclinical studies, clinical trials and certification or regulatory approval of our
other medical devices, indications as well as the commercial success of our approved product and any product candidates that receive
marketing approval by the FDA. We will be required to raise additional funds through sale of equity or debt securities or through strategic
collaborations and/or licensing agreements in order to fund operations until we are able to generate enough product or royalty revenues,
if any. Financing may not be available on acceptable terms, or at all, and our failure to raise capital when needed could have a material
adverse effect on our strategic objectives, results of operations and financial condition.

Our
ability to continue to operate beyond the third fiscal quarter of 2026 will be largely dependent upon the successful commercial launch
of LungFit® PH, as well as obtaining partners in other parts of the world, and raising additional funds to finance our
activities until we are generating cash flow from operations. Further, there are no assurances that we will be