Beyond Air said last night that it implemented a capital conservation strategy that will extend its cash runway and focus its resources on ramping up the commercial program for LungFit PH and maintain the timeline for the second generation LungFit PH. The company reduced headcount by over 20% since January 1. The study of LungFit PRO to treat viral community-acquired pneumonia has been placed on hold due to the strategic prioritization. The trials evaluating LungFit GO for the treatment of nontuberculous mycobacteria and COPD have also been placed on hold. Beyond Air’s net cash burn rate is expected to be less than $30M in fiscal 2025, which assumes the company hits certain revenue targets.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XAIR:
- Beyond Air® Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update
- Options Volatility and Implied Earnings Moves Today, June 24, 2024
- Options Volatility and Implied Earnings Moves This Week, June 24 – June 27, 2024
- XAIR Earnings this Week: How Will it Perform?
- Beyond Air® Appoints David Webster as Chief Commercial Officer