Beyond Air, Inc. (XAIR) Reports In-Line Q1 EPS, Revenues Beat

Beyond Air, Inc. (NASDAQ: XAIR) reported Q1 EPS of ($0.30), in-line with the analyst estimate of ($0.30). Revenue for the quarter came in at $349.6 thousand versus the consensus estimate of $120 thousand.

“Over the past few months we have achieved several significant milestones, both regulatory and clinical, across our development pipeline. Most notably, we filed a PMA for the LungFit™ PH system for the treatment of PPHN, which will be subject to the standard 180-day FDA review. If approved, LungFit™ PH will be our first commercially available product from the LungFit™ platform technology that generates nitric oxide from ambient air. I am very proud and humbled by the resilience and execution of the Beyond Air team, as we have faced many pandemic related setbacks. We are now on a clear path towards recognizing the potential of our LungFit™ platform for the treatment of respiratory conditions with the goal of improving the lives of patients,” said Steve Lisi, Chairman and Chief Executive Officer of Beyond Air.

“As the coronavirus pandemic continues to adversely affect everyday life in the United States and around the world, the Beyond Air team has adapted. Site initiation visits are ongoing for the acute viral pneumonia study, which includes patients infected with SARS-CoV-2, and we have overcome significant logistical challenges with our at-home NTM lung infection study, which is expected to begin next month. The team also identified a new opportunity in the development pipeline for ultra-high concentration gNO to treat solid tumors. This program has generated exciting preclinical data demonstrating the conveyance of tumor immunity to the host, which we have presented at three different major medical and scientific conferences this year. We believe this new approach has the potential to elicit a paradigm shift in the standard of care for solid tumors and their metastases, which are responsible for approximately 90% of all cancer-related deaths,” concluded Mr. Lisi.

For earnings history and earnings-related data on Beyond Air, Inc. (XAIR) click here.

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