Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 178

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 2
Chunk 178
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 principal
amount of $11,500,000; (ii) ten-year term; (iii) interest of 15% per annum of which 12% shall be payable in kind through July 2026; (iv)
a royalty interest of 8% of our net sales on a quarterly basis from July 2026 until the facility is repaid in full; and (v) we shall
issue the lenders warrants to purchase shares of common stock at an exercise price of $0.3793 per share, in an aggregate amount equal
to the quotient of the principal divided by the exercise price. The Company finalized this loan and security agreement on November 1,
2024.

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 successful in obtaining
an adequate level of financing for the development and commercialization of our other product candidates.

There
are numerous risks and uncertainties associated with the development of our NO delivery system and we are unable to estimate the amounts
of increased capital outlays and operating expenses associated with the completion of the research and development of our product candidates.

 36 

Our
future capital requirements will depend on many factors, including:

    ●
    the
    progress and costs of our preclinical studies, clinical trials and other research and development activities;
  
    ●
    the
    costs of commercializing the LungFit® system;
  
    ●
    the
    scope, prioritization and number of our clinical trials and other research and development programs;
  
    ●
    the
    costs and timing of obtaining certification or regulatory approval for our product candidates;
  
    ●
    the
    costs of filing, prosecuting, enforcing and defending patent claims and other intellectual property rights;
  
    ●
    the
    costs of, and timing for, strengthening our manufacturing agreements for production of sufficient clinical quantities of our product
    candidates;
  
    ●
    the
    potential costs of contracting with third parties to provide marketing and distribution services for us or for building such capacities
    internally;
  
    ●
    the
    costs of acquiring or undertaking the development and commercialization efforts for additional, future therapeutic applications of
    our product candidates;
  
    ●