Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 17

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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to safely deliver UNO in excess of 10,000 ppm directly to a solid tumor. This program has advanced to a phase 1 human clinical trial.

On
November 4, 2021, Beyond Air reorganized its oncology business into a new private company called Beyond Cancer. Beyond Air’s preclinical
oncology team and the exclusive right to the intellectual property portfolio utilizing UNO for the treatment of solid tumors now reside
with Beyond Cancer. Beyond Air has 80% ownership in Beyond Cancer.

The
second program which does not utilize the LungFit® platform partially inhibits neuronal nitric oxide synthase (nNOS) in the brain
to treat neurological conditions. The first target indication is autism spectrum disorder (“ASD”). On June 15, 2023, the
Company announced that it has entered into an agreement with Yissum Research Development Company of the Hebrew University of Jerusalem,
LTD. (the “University”) to acquire the commercial rights for nNOS inhibitors being developed for the treatment of ASD and
other neurological conditions. Currently, there are no FDA-approved therapies specifically for the treatment of ASD. Under the terms
of the agreement, Beyond Air will make payments to the University over the three-year period from the date of the agreement for pre-clinical
work. Also, the Company will pay a low single-digit royalty on net sales and certain one-time payments based on clinical, regulatory
and sales milestones. The Company expects this program to progress from preclinical to a phase 1 first-in-human clinical trial by the
end of 2026.

On
March 24, 2025, Beyond Air reorganized its neurology business into a new private company called NeuroNOS. Beyond Air’s infrastructure,
for example regulatory, quality, legal, etc, will continue to support the NeruoNOS team. Beyond Air has 88.2% ownership in NeuroNOS.

The
Company’s current product candidates will be subject to premarket reviews and approvals by the FDA, certification through the conduct
of a conformity assessment by a notified body in the European Union (the “EU”), as well as comparable foreign regulatory
authorities’ reviews or approvals in other countries or regions.

On July 14, 2025, the Company effectuated
a one-for-twenty (1:20) reverse stock split (the “2025 Reverse Stock Split”). The Company’s common stock began trading
on the Nasdaq Stock Market on a split-adjusted basis