Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 59

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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.8 million in Beyond Cancer), stock-based compensation costs $0.3 million ($0.1 million in Beyond Air and $0.2 million
in Beyond Cancer), pre-clinical studies $0.3 million ($0.1 million in NeuroNos and $0.2 million in Beyond Cancer), clinical studies $0.1
million in Beyond Air, professional fees $0.2 million and a reduction in Gen II device development costs of $0.2 million in Beyond Air.

Selling,
General and Administrative Expenses

Selling,
general and administrative expenses for the three months ended June 30, 2025 were $4.7 million as compared to $7.2 million for the three
months ended June 30, 2024. The decrease of $2.5 million was attributed primarily to a decrease in spend in salaries $0.8 million ($0.7
million in Beyond Air and $0.1 million in Beyond Cancer), stock-based compensation costs $1.5 million ($0.8 million in Beyond Air and
$0.7 million in Beyond Cancer), $0.1 million marketing and advertising costs for Beyond Air and $0.1 million in legal fees.

Other
Income/Expense

Other
expense for the three months ended June 30, 2025 were $0.5 million as compared to other income of $0.5 million for the three months ended
June 30, 2024. The increase in expense of $1.0 million was attributed primarily to the prior period gain associated with the change in
fair value of the derivative liability of $1.0 million. The derivative liability was extinguished in the prior year and no fair value
measurement of such instrument occurred during the current period. Additionally, the decrease in interest expense of $0.5 million is
due to the Company’s current debt facility compared to the debt outstanding in the comparative period. The decrease in interest
expense is offset by a $0.4 million decrease of dividend and interest income.

Net
Loss Attributable to Non-controlling Interests

Net
loss attributed to non-controlling interests for the three months ended June 30, 2025, was $0.4 million, compared to $0.9 million for
the three months ended June 30, 2024. Non-controlling interests represent 20% of the net loss of our Beyond Cancer subsidiary and 11.8%
of the net loss of our NeuroNos subsidiary