Beyond Air fires 20% of staff as revenue guidance for LungFit falls [Yahoo! Finance]
Beyond Air, Inc. (XAIR)
Company Research
Source: Yahoo! Finance
The grim decision was made despite the company reporting a revenue of $1.2m, an improvement from the zero revenue generated in the previous fiscal year. Beyond Air also downgraded revenue expectations for its only commercial product, LungFit PH, to over $10m for FY 2025, from the previous guidance of $12-16m. Following the release of year-end guidance, Beyond Air's stock fell over 16% in premarket trading, compared to market close on the previous day. The company reported cash reserves of $34.5m, as of 31 March 2024. LungFit PH was approved as the treatment of hypoxic respiratory failure in term and near-term neonates by the US Food and Drug Administration (FDA) in 2022. The device makes nitric oxide from room air and delivers it into a ventilator breathing circuit to support better oxygenation of blood. “Two upcoming milestones that are expected to drive additional revenue growth include the pending FDA decision on the cardiac surgery indication and development of a second gen
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XAIR
News
- Beyond Air, Inc. (NASDAQ: XAIR) had its price target lowered by analysts at Piper Sandler from $7.00 to $3.50. They now have an "overweight" rating on the stock.MarketBeat
- Beyond Air, Inc. (NASDAQ: XAIR) was downgraded by analysts at BTIG Research from a "buy" rating to a "neutral" rating.MarketBeat
- Beyond Air, Inc. (XAIR) Reports Q4 Loss, Misses Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Beyond Air® Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update [Yahoo! Finance]Yahoo! Finance
- Beyond Air® Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate UpdateGlobeNewswire
XAIR
Earnings
- 6/24/24 - Miss
XAIR
Sec Filings
- 6/27/24 - Form 8-K
- 6/24/24 - Form 10-K
- 6/18/24 - Form 8-K
- XAIR's page on the SEC website