Company: XAIR
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001493152-25-006903
Chunk: 8

Company: Beyond Air, Inc.
Filing Date: 2025-02-14
Form: 424B5
Chunk 8
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 on page S-5 of this prospectus supplement, and under             
 similar headings in other documents incorporated by reference into this prospectus supplement and the accompanying prospectus.      |
| Nasdaq                
 Capital Market Symbol |     | “XAIR”.                                                                                                                             |

| S-4 |

<div align='center'>RISK FACTORS</div>

Investing in our securities involves a high degree of risk. Before deciding whether to invest in our securities, you should carefully consider the risk factors we describe in this prospectus supplement, any related free writing prospectus for a specific offering of securities, as well as those incorporated by reference into this prospectus supplement or accompanying prospectus (including, without limitation, in our Annual Report on Form 10-K for the year ended March 31, 2024). You should also carefully consider other information contained and incorporated by reference in this prospectus supplement and the accompanying prospectus, including our financial statements and the related notes thereto incorporated by reference herein. The risks and uncertainties described in this prospectus supplement and our other filings with the SEC incorporated by reference herein are not the only ones we face. Additional risks and uncertainties not presently known to us or that we currently consider immaterial may also adversely affect us. Our business, financial condition or results of operations could be materially harmed by these risks. In such case, the value of our securities could decline and you may lose all or part of your investment.

<div align='center'>Risks Relating to Our Common Stock</div>

Recent trading in our common stock has been volatile and may continue to be volatile in the future.

Our common stock has recently experienced extreme volatility. In February 2024, our common stock closed as high as $2.15 per share and in January 2025 as low as $0.359 per share. Our common stock may continue to be volatile and could materially fall for a number of reasons including:

● announcements of technological innovations or new products by us or our competitors;

● announcement of FDA approval, disapproval or delay of approval of our product candidates or other product-related actions;

● developments involving our discovery efforts and clinical trials;

● developments or disputes concerning patents or proprietary rights, including announcements of infringement, interference or other litigation against us or our potential licensees;

● developments involving our efforts to commercialize our products, including developments impacting the timing of commercialization;

● announcements concerning our competitors, or the biotechnology, pharmaceutical or drug delivery industry in general;

● public concerns as to the safety or efficacy of our approved product