Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 32

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 12
Chunk 32
---
 $404 
  
    Interest paid 
    $1,197  
    $1,759 
  
    Income taxes paid 
    $-  
    $- 

The
accompanying notes are an integral part of these consolidated financial statements.

F-8

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE
1 ORGANIZATION AND BUSINESS

Beyond
Air, Inc. (together with its subsidiaries, “Beyond Air” or the “Company”) was incorporated on April 28, 2015
under Delaware law. On June 25, 2019, the Company’s name was changed to Beyond Air, Inc. from AIT Therapeutics, Inc.

The
Company is a commercial-stage medical device and biopharmaceutical company developing a platform of nitric oxide (“NO”) generators
and delivery systems (the “LungFit® platform”) capable of generating NO from ambient air. The Company’s
first device, LungFit® PH (“LungFit® PH”) received premarket approval (“PMA”) from
the U.S. Food and Drug Administration (“FDA”) in June 2022. The NO generated by the LungFit® PH system is indicated to
improve oxygenation and reduce the need for extracorporeal membrane oxygenation in term and near-term (>34 weeks gestation) neonates
with hypoxic respiratory failure associated with clinical or echocardiographic evidence of pulmonary hypertension in conjunction with
ventilatory support and other appropriate agents. This condition is commonly referred to as persistent pulmonary hypertension of the
newborn (“PPHN”). The LungFit® platform can generate NO up to 400 parts per million (“ppm”) for
delivery to a patient’s lungs directly or via a ventilator. LungFit® can deliver NO either continuously or for a
fixed amount of time at various flow rates and has the ability to either titrate dose on demand or maintain a constant dose. In July
2022, the Company commenced marketing LungFit® PH in the United States for PPHN as a medical device.

On
November 26, 2024, the Company received European CE mark approval of the LungFit PH® system for the following:

    ●
    The
    treatment of infants >34 weeks gestation with hypoxic respiratory failure associated with clinical or echocardiographic
    evidence of pulmonary hypertension, in order to improve oxygenation