Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 797

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1A
Chunk 797
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 our approved product or product candidates. Such litigation or licenses
could be costly or not available on commercially reasonable terms.

Given the number of companies
developing various types of NO devices, it is difficult to conclusively assess our freedom to operate without infringing on third-party
rights. There are numerous companies that have pending patent applications and issued patents in the field of therapeutic NO delivery.
Our competitive position may suffer if patents issued to third parties or other third-party intellectual property rights cover our products
or elements thereof, or our manufacture or uses relevant to our development plans. In such cases, we may not be in a position to develop
or commercialize our approved product or product candidates unless we successfully pursue litigation to nullify or invalidate the third-party
intellectual property right concerned, or enter into a license agreement with the intellectual property right holder, if available on
commercially reasonable terms. There may be pending patent applications of which we are not aware, that if they result in issued patents,
could be alleged to be infringed by our approved product or product candidates. If such an infringement claim should be brought and be
successful, we may be required to pay substantial damages, be forced to abandon our approved product or product candidates or seek a license
from any patent holders. No assurances can be given that a license will be available on commercially reasonable terms, if at all.

60

It is also possible that we have failed
to identify relevant third-party patents or applications. Patent applications in the U.S. and elsewhere are published approximately 18
months after the earliest filing for which priority is claimed, with such earliest filing date being commonly referred to as the priority
date. Therefore, patent applications covering our approved product, product candidates or platform technology could have been filed by
others without our knowledge. Additionally, pending patent applications which have been published can, subject to certain limitations,
be later amended in a manner that could cover our platform technologies, our approved product or product candidates or the use of our
approved product or product candidates. Third-party intellectual property right holders may also actively bring infringement claims against
us. We cannot guarantee that we will be able to successfully settle or otherwise resolve such infringement claims. If we are unable to
successfully settle future claims on terms acceptable to us, we may be required to engage in or continue costly, unpredictable and time-consuming
litigation and may be prevented from or experience substantial delays in pursuing the development of and/or marketing our approved product
or product candidate. If we fail in any such dispute, in