Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 172

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 2
Chunk 172
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Lenders”), and
change in fair value of the derivative liability of $0.1 million, $0.1 million losses incurred on disposal of fixed assets in
relation to office closures offset by a decrease of $0.4 million in interest expense.

Other
income/(expense) for the nine months ended December 31, 2024, and December 31, 2023, was an expense of $3.1 million and income of $0.6
million, respectively. The $3.7 million increase in expense is mainly due to a change in fair value of warrant liability of $0.5 million
on the Loan and Security Agreement, in addition to decreased $0.8 million of interest and dividend income from our investments in marketable
securities, $2.5 million related to the loss on partial extinguishment of the Loan and Security agreement, an increase in interest expense
of $0.4 million, $0.2 million losses incurred on disposal of fixed assets in relation to office closures and offset by a decrease of
$0.6 million of non-product related litigation and change in fair value of the derivative liability of $0.2 million on the Loan and Security
Agreement.

Net
Loss Attributable to Non-controlling Interests

Net
loss attributed to non-controlling interests for the three months ended December 31, 2024, was $0.3 million, compared to $1.0 million
for the three months ended December 31, 2023. Net loss attributed to non-controlling interests for the nine months ended December 31,
2024, was $1.8 million, compared to $3.2 million for the nine months ended December 31, 2023. Non-controlling interests represent 20%
of the net loss of our Beyond Cancer subsidiary, which was established in November 2021.

 34 

Net
Loss Attributed to Common Stockholders

Net
loss attributed to common stockholders of Beyond Air, Inc for the three months ended December 31, 2024, was ($13.1) million or a loss
of ($0.15) per share, basic and diluted. Our net loss attributed to common stockholders of Beyond Air, Inc for the three months ended
December 31, 2023 was ($16.2) million or a loss of ($0.50) per share, basic and diluted.

Net
loss attributed to common stockholders of Beyond