Beyond Air Granted Extension by Nasdaq to Regain Compliance with Minimum Bid Requirement

Beyond Air, Inc. (NASDAQ: XAIR) has received an additional 180-day compliance period extension from The Nasdaq Stock Market LLC to regain compliance with the minimum bid price rule (Rule 5550(a)(2)). This announcement came in response to a notification from Nasdaq, allowing the Company to strive for compliance until August 4, 2025, without an immediate impact on the listing of the Company’s common stock.

Previously, on August 8, 2024, Nasdaq had notified Beyond Air that its common stock did not meet the minimum bid price per share requirement of $1.00 for 30 consecutive business days, necessitating a compliance period until February 4, 2025, which the Company did not achieve. Consequently, the Company submitted a request for an additional 180-day compliance period, which was granted on February 5, 2025.

During this extended compliance period, if the closing bid price of the Company’s stock reaches or exceeds $1.00 per share for at least ten consecutive business days, Nasdaq will confirm compliance. Beyond Air is prepared to effect a reverse stock split as a measure to regain compliance, if necessary, ten business days prior to the expiration date.

Failure to demonstrate compliance by August 4, 2025, may result in a delisting notification from Nasdaq. However, at present, the Company’s common stock will continue to be listed and traded on the Nasdaq Capital Market, provided it adheres to other listing requirements.

A press release issued by Beyond Air on February 5, 2025, provides further details on the notification received from Nasdaq. While the information in the press release is not considered as filed under the Securities Exchange Act of 1934, it offers insights into the Company’s efforts and intentions regarding compliance with Nasdaq regulations.

Beyond Air is engaged in the development of medical devices and biopharmaceuticals that utilize nitric oxide to address various medical conditions. The Company has FDA approval for its LungFit PH system designed for neonatal respiratory failure and is actively pursuing other treatment avenues, including severe lung infections and neurological disorders.

Investors and stakeholders closely monitoring Beyond Air’s compliance progress can stay updated through the Company’s official press releases and regulatory disclosures. The Company remains committed to fulfilling Nasdaq’s listing requirements and ensuring continued transparency with its shareholders during this pivotal period.END筇

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Beyond Air’s 8K filing here.

About Beyond Air

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.