Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 173

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 2
Chunk 173
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 Air, Inc for the nine months ended December 31, 2024, was ($38.6) million or a loss
of ($0.64) per share, basic and diluted. Our net loss attributed to common stockholders of Beyond Air, Inc for the nine months ended
December 31, 2023 was ($46.5) million or a loss of ($1.46) per share, basic and diluted.

Liquidity
and Capital Resources

Cash
Flows

Below
is a summary of our cash flows activities for the nine months ended December 31, 2024 and December 31, 2023:

    Nine Months Ended 

    December 31, 
  
    (in thousands) 
    2024  
    2023 

    Net cash provided by (used in): 

    Operating activities 
    $(31,261) 
    $(45,289)
  
    Investing activities 
     12,324  
     (10,568)
  
    Financing activities 
     12,146  
     27,274 
  
    Effect of exchange rate changes on cash and cash equivalents 
     (16) 
     18 
  
    Net increase (decrease) in cash, cash equivalents and restricted cash 
    $(6,776) 
    $(28,565)

Operating
Activities

For
the nine months ended December 31, 2024, the net cash used in operating activities was $31.2 million which was primarily due to our net
loss of $40.4 million, which includes $9.0 million of stock-based compensation, $2.5 million costs related to the extinguishment of the
Loan and Security agreement (the “Loan and Security Agreement”) with Avenue Capital Management II, L.P., as administrative
agent and collateral agent (the “Agent”), Avenue Venture Opportunities Fund, L.P., a Delaware limited partnership (“Avenue”),
and Avenue Venture Opportunities Fund II, L.P, a Delaware limited partnership (“Avenue 2” and, together with Avenue, the
“Lenders”), $2.2 million of depreciation and amortization, $1.6 million in prepayments and other assets, $0.9 million in
amortization of debt discount, offset by $ 4.5 million of accrued expenses (which included ($4.5) million of the payment of the final
tranche with Circassia Limited and its affiliates (“