| COMMITMENTS AND CONTINGENCIES | NOTE
14 COMMITMENTS AND CONTINGENCIES License
and Other Agreements On
October 22, 2013, the Company entered into a patent license agreement (the “CareFusion Agreement”) with SensorMedics Corporation,
a subsidiary of CareFusion Corp. (“CareFusion”), pursuant to which the Company agreed to pay to CareFusion a non-refundable
upfront fee of $ 150,000 5 50,000 In
August 2015, BA Ltd. entered into an Option Agreement (the “Option Agreement”) with Pulmonox whereby BA Ltd. acquired the
option to purchase certain intellectual property assets and rights. On January 13, 2017, the Company exercised the Option and paid $ 500,000
to Pulmonox. The Company becomes obligated to
make certain one-time development and sales milestone payments to Pulmonox, commencing with the date on which the Company receives
regulatory approval for the commercial sale of the first product candidate qualifying under the Option Agreement. These milestone
payments are capped at a total of $ 87
million across three separate and distinct indications
that fall under the Option Agreement, with the majority of them, approximately $ 83
million, being related to sales
based on cumulative sales milestones for each of the three products. On
January 31, 2018, the Company and NitricGen, Inc. (“NitricGen”) entered into an agreement (the “NitricGen
Agreement”) to acquire a global, exclusive, transferable license and associated assets including intellectual property, know-how,
trade secrets and confidential information from NitricGen related to LungFit ® .
The Company acquired the licensing right to use the technology and agreed to pay NitricGen a total of $ 2,000,000
in future payments based upon the achievement
of certain milestones, as defined in the NitricGen Agreement, and royalties on sales of LungFit ® .
The Company paid NitricGen $ 100,000
upon the execution of the NitricGen Agreement,
$ 100,000
upon achieving the next milestone and issued
100,000
warrants to purchase the Company’s common
stock valued at $ 295,000
upon executing the NitricGen Agreement. The remaining
future milestone payments are $ 1,800,000
of which $ 1,500,000
is due six months after the first approval.
Employment
Agreements Certain
agreements between the Company and its officers contain a change of control provision for payment of severance arrangements. Supply
Agreement and Purchase Order In
August 2020, the Company entered into a supply agreement expiring on December
31, 2024 . The agreement will renew automatically
for successive three -year
periods unless and until the Company provides twelve months’ notice of intent not to renew. In July 2020, the Company placed a
non-cancellable purchase order and the outstanding amount remaining under the purchase order as of June 30, 2021 is approximately $ 1,054,000
with this supplier. Contingencies On March 16, 2018, Empery Asset Master, Ltd.,
Empery Tax Efficient, LP and Empery Tax Efficient II, LP, (collectively, “Empery”), filed a complaint in the NY Supreme Court
(the “NY Supreme Court”), relating to the notice of adjustment of both the exercise price of and the number of warrant shares
issuable under warrants issued to Empery in January 2017 (the “Empery Suit”). The Empery Suit alleges that, as a result of
certain circumstances in connection with the Company’s February 2018 offering, the 166,672 While the Company believes that it has complied
with the applicable protective features of the 2017 Warrants and properly adjusted the exercise price, if Empery were to prevail on all
claims, the new adjusted total number of warrant shares could be as follows: 319,967 159,869 252,672 3.66 1.57 While the Company asserted at trial and continues
to asset several meritorious defenses against the claims, the ultimate resolution of the matter, if unfavorable, could result in a material
loss. In addition to Empery, there are 1,139,220 Note
Regarding Forward-Looking Statements This
Quarterly Report on Form 10-Q contains “forward-looking statements.” We intend such forward-looking statements
to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this
Quarterly Report on Form 10-Q, including statements regarding our future results of operations and financial position, business
strategy, prospective product candidates and products, product approvals, timing of our clinical development activities, research
and development costs, timing and likelihood of success, and the plans and objectives of management for future operations and future
results of anticipated products are forward-looking statements. These statements involve known and unknown risks, uncertainties and
other important factors that may cause our actual results, performance or achievements to be materially different from any future
results, performance or achievements express or implied by the forward-looking statements. In some cases, you can identify forward-looking
statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,”
“expect,” “could,” “intend,” “target,” “project,” “contemplate,”
“believe,” “estimate,” “predict,” “potential”, or “continue” or the negative
of these terms or other similar conditional expressions. The forward-looking statements in this Quarterly Report are only predictions.
We have based these forward-looking statements largely on our current expectations and projections about future events and financial
trends that we believe may affect our business, financial condition and results of operations. These forward-looking statements speak
only as of the date of this Quarterly Report on Form 10-Q and are subject to a number of important factors that could cause actual results
to differ materially from those in the forward-looking statements, including the factors described under the sections in this Quarterly
Report on Form 10-Q titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and
Results of Operations,” Item 1A “Risk Factors” contained in our most recently filed Annual Report on Form 10-K, as
well as the following:
● our
status as a development-stage company and our expectation to incur losses in the future;
● our
future capital needs and our need to raise additional funds;
● our
ability to obtain FDA approval of the PMA for the LungFit ®
● our
ability to build a pipeline of product candidates and develop and commercialize products;
● our
ability to enroll patients in clinical trials, timely and successfully complete those trials and receive necessary regulatory approvals;
● our
ability to maintain our existing or future collaborations or licenses;
● our
ability to protect and enforce our intellectual property rights;
● federal,
state, and foreign regulatory requirements, including the FDA regulation of our product candidates;
● our
ability to obtain and retain key executives and attract and retain qualified personnel;
● our
ability to successfully manage our growth; and
● our
ability to address business disruption and related risks resulting from the COVID-19 pandemic, which could have a material adverse
effect on our business plan. Moreover, we operate in an evolving environment.
New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and
uncertainties. You should read this Quarterly Report on Form
10-Q and the documents that we reference in this Quarterly Report on Form 10-Q completely and with the understanding that our actual
future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary
statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained
herein, whether as a result of any new information, future events, changed circumstances or otherwise. Beyond Air, Inc. the Beyond Air logo, and other
trademarks or service marks of Beyond Air, Inc. appearing in this Quarter Report on Form 10-Q are the property of Beyond Air, Inc. This
Quarterly Report on Form 10-Q also includes trademarks, tradenames and service marks that are the property of other organizations. Solely
for convenience, trademarks and tradenames referred to in this Quarterly Report on Form 10-Q appear without the ® Introduction We
are a clinical-stage medical device and biopharmaceutical company developing a nitric oxide (“NO”) generator and delivery
system (the “LungFit ® system”)
that is capable of generating NO from ambient air. The LungFit ®
platform can generate NO up to 400 parts per million
(“ppm”) for delivery to a patient’s lungs directly or via a ventilator. LungFit ®
can deliver NO either continuously or for a fixed
amount of time at various flow rates and has the ability to either titrate dose on demand or maintain a constant dose. We believe that
LungFit ® can
be used to treat patients on ventilators that require NO, as well as patients with chronic or acute severe lung infections via delivery
through a breathing mask or similar apparatus. Furthermore, we believe that there is a high unmet medical need for patients suffering
from certain severe lung infections that the LungFit ®
platform can potentially address. The Company’s
current areas of focus with LungFit ® are PPHN, AVP including COVID-19, BRO and NTM lung infection.
The Company’s current product candidates will be subject to premarket reviews and certifications or approvals by the U.S.
Food and Drug Administration, (the “FDA”), as well as similar regulatory agencies in other countries or regions. If approved,
the Company’s system will be marketed as a medical device in the United States. An
additional program of Beyond Air is solid tumors. For this indication the LungFit ® The
LungFit ® 2 2 2 With
respect to PPHN, Beyond Air’s novel LungFit ® ® ® The
Company’s novel LungFit ® > LungFit ® In
November 2020 we submitted a premarket approval (“PMA”)
application to the FDA for the use of LungFit ® ®
PH in PPHN to be greater than $300 million and
worldwide sales potential to be greater than $600 million. If regulatory approval is obtained, we anticipate a product launch in the
U.S. in the fourth quarter of calendar 2021 and will continue to launch in the EU and globally in 2022 and beyond. LungFit ® Acute
Viral Pneumonia (including COVID-19) Viral
pneumonia in adults is most commonly caused by rhinovirus, respiratory syncytial virus (“RSV”) and influenza virus. However,
newly emerging viruses (including SARS-CoV-1, SARS-CoV-2, avian influenza A, and H1N1 viruses) have been identified as pathogens contributing
to the overall burden of adult viral pneumonia. COVID-19 is an infectious disease caused by SARS-CoV-2, that has resulted in a global
pandemic. Excluding the pandemic, there are approximately 350,000 annual viral pneumonia hospitalizations in the US, and 16 million annual
viral pneumonia hospitalizations globally. For the broader AVP, we believe U.S. sales potential to be greater than $1.5 billion and worldwide
market potential to be greater than $3 billion. We
initiated a pilot study in late 2020 using Beyond Air’s novel LungFit ® Beyond
Air reported interim data from this ongoing trial at the American Thoracic
Society or ATS International Conference 2021, which was held virtually from May 14 through May 19. At the time of the data cut
off, the intent-to-treat (“ITT”) analysis population included 19 COVID-19 patients (9 NO + SST vs 10 SST). The data readout
showed that 150 ppm NO treatment administered via LungFit ® 2
Bronchiolitis
(BRO) Bronchiolitis
is the leading cause of hospital admission in children less than 1 year of age. The incidence is estimated to be 150 million new cases
a year worldwide, with 2-3% (over 3 million) of them severe enough to require hospitalization. Worldwide, 95% 3 The
Company’s BRO program is currently on hold due to the COVID-19
pandemic. The pivotal study for bronchiolitis was originally set to be performed in the winter of 2020/21 but was delayed due to the
pandemic. We have completed three successful pilot studies for bronchiolitis. A further analysis of the three previously reported pilot
studies was presented at the ATS International Conference 2021, which was held virtually from May 14 – May 19. Analysis across
the studies (n=198 infants, mean age 3.9 months) showed that 150 – 160 ppm NO administered intermittently was generally safe and
well tolerated with adverse event rates similar among treatment groups with no reported treatment-related serious adverse events. The
short course of treatments with intermittent high concentration inhaled NO was effective in shortening hospital length of stay and accelerating
time to fit for discharge – a composite endpoint of clinical signs and symptoms to indicate readiness to be evaluated for hospital
discharge. This treatment was also effective in accelerating time to stable oxygen saturation – measured as SpO2 ≥ 92%
in room air. Additionally, NO at a dose of 85 ppm NO showed no difference compared to control for all efficacy endpoints, while 150 ppm
NO showed statistical significance when compared to control. We
believe that the entirety of data at 150-160 ppm NO in both adult and infant patient populations supports further development
of LungFit ® LungFit ® NTM
lung infection is a rare and serious pulmonary disease associated with increased morbidity and mortality. Patients with NTM lung disease
may experience a multitude of symptoms such as fever, weight loss, cough, lack of appetite, night sweats, blood in the sputum and fatigue.
Patients with NTM lung disease, specifically Mycobacterium abscessus M.abscessus , M. abscessus There
are approximately 50,000 to 90,000 people with NTM infections in the U.S. In Asia, the number of patients suffering from NTM surpasses
what is seen in the U.S. There is one inhaled antibiotic approved for the treatment of refractory Mycobacterium avium complex (“MAC”).
Current guideline-based approaches to treat NTM lung disease involve multi-drug regimens of antibiotics that may cause severe, long lasting
side effects, and treatment can be as long as 18 months or more. Median survival for NTM MAC patients is approximately 13 years while
median survival for patients with other variations of NTM is typically 4.6 years. The prevalence of human disease attributable to NTM
has increased over the past two decades. In a study conducted between 2007 and 2016, researchers found that the prevalence of NTM in
the U.S. is increasing at approximately 7.5% per year. M. abscessus treatment costs are estimated to be more than double that of MAC.
In total, a 2015 publication from co-authors from several U.S. government departments stated that annual cases in 2014 cost the
U.S. healthcare system approximately $1.7 billion. For this indication, we believe U.S. sales potential to be greater than $1 billion
and worldwide sales potential to be greater than $2.5 billion. In
December 2020 we began a 12-week, multi-center, open-label clinical trial in Australia and we plan to enroll approximately 20 adult patients
with chronic refractory NTM lung disease. We received a grant of up to $2.17 million from the Cystic Fibrosis Foundation to fund this
study and advance the clinical development of inhaled NO to treat NTM pulmonary disease. The trial is enrolling both cystic fibrosis
(“CF”) and non-CF patients infected with MAC or M. abscessus ® We
anticipate reporting interim data in the fall of calendar year 2021, likely at a scientific conference. We will release top-line results
for the full data set approximately six months later. If the trial is successful, we would anticipate commencing a pivotal study in the
first half of calendar year 2023. The Company’s program
in chronic obstructive pulmonary disease (“COPD”) is in the pre-clinical stage and will remain there, subject to obtaining
additional financing. Ultra-High
Concentration NO in solid tumors For the
Company’s solid tumor program, we have released pre-clinical data at several medical/scientific conferences showing the
promise of delivering NO at concentrations of 20,000 ppm – 200,000 ppm directly to tumors. Results showed that local tumor
ablation with NO conveyed anti-tumor immunity to the host. In the Company’s most recent release of data, 8 of 11 mice
treated with a single administration of 25,000 ppm NO over 5 minutes were resistant to a subsequent tumor challenge and 11 of 11
mice treated with 50,000 ppm NO were resistant to a subsequent tumor challenge. Pre-clinical work will continue throughout most of
2021 with a goal of receiving regulatory approval to initiate a first-in-human trial by the end of calendar year 2021. COVID-19 The development of the Company’s
product candidates could be further disrupted and adversely affected by a resurgence of the COVID-19 pandemic. The Company
experienced significant delays in the supply chain for LungFit ® Critical
Accounting Estimates and Policies A
critical accounting policy is one that is both important to the portrayal of a company’s financial condition and results of operations
and requires management’s most difficult, subjective or complex judgments, often as a result of the need to make estimates about
the effect of matters that are inherently uncertain. The
Company’s unaudited consolidated financial statements are presented in accordance with U.S. GAAP, and all applicable U.S. GAAP
accounting standards effective as of June 30, 2021 have been taken into consideration in preparing the unaudited consolidated
financial statements. The preparation of unaudited consolidated financial statements requires estimates and assumptions that affect
the reported amounts of assets, liabilities, expenses and related disclosures. Some of those estimates are subjective and complex,
and, consequently, actual results could differ from those estimates. The following accounting policies and estimates have been
highlighted as significant because changes to certain judgments and assumptions inherent in these policies could affect the
Company’s consolidated financial statements:
● Use
of Estimates,
● Research
and development expenses,
● Stock-based
compensation expenses, and
● Income
Taxes Off-Balance-Sheet
Arrangements As
of June 30, 2021, we did not have any off-balance-sheet arrangements as defined in the rules and regulations of the Securities
and Exchange Commission the (“SEC”). Results
of Operations Below
are the results of operations for the three months ended June 30, 2021 and June 30, 2020:
For the Three June 30,
2021 2020
License revenue $ - $ 229,161
Operating expenses
Research and development 2,741,041 4,331,814
General and administrative 3,850,265 2,494,014
Operating loss (6,591,306 ) (6,596,667 )
Other income (loss)
Dividend income 706 14,985
Foreign exchange gain 9,859 1,275
Interest expense (162,143 ) (163,240 )
Other - 1,843
Total other loss (151,578 ) (145,137 )
Net loss $ (6,742,884 ) $ (6,741,804 )
Net loss per share – basic and diluted $ (0.31 ) $ (0.41 )
Weighted average number of common shares outstanding – basic and diluted 21,945,235 16,529,392 Comparison
of Three Months Ended June 30, 2021 with the Three Months Ended June 30, 2020 License
Revenue On
January 23, 2019, the Company entered into an agreement for commercial rights (the “Circassia Agreement”) with Circassia
for PPHN and future related indications at concentrations of < Research
and Development Expenses Research
and development expenses for the three months ended June 30, 2021 were $2,741,041 as compared to $4,331,814 for the three months
ended June 30, 2020. The decrease of $1,590,773 was primarily attributed to less expenses for PPHN due to the submission of the PMA
in November 2020 and a decrease in non-cash compensation expense of $472,898. General
and Administrative Expenses General and
administrative expenses for the three months ended June 30, 2021 and June 30, 2020 were $3,850,265 and $2,494,014, respectively. The
increase of $1,356,251 was attributed primarily to changing legal counsel, increase in professional fees, preparation for the
commercial launch, increase in salaries and benefits and insurance. Cash
Flows Below
is a summary of the Company’s cash flows activities for the three months ended June 30, 2021 and June
30, 2020:
Three
Months Ended
June
30,
2021 2020
Net
cash provided by (used in):
Operating
activities $ (3,918,178 ) $ (5,485,465 )
Investing
activities (27,055 ) (243,527 )
Financing
activities 8,305,518 4,709,098
Net
increase (decrease) in cash, cash equivalents and restricted cash $ 4,360,285 $ (1,019,894 ) Operating
Activities For the three months
ended June 30, 2021 the net cash used in operating activities was $3,918,178 which was primarily due to the Company’s net loss
of $6,742,884, offset by non-cash stock-based compensation expense of $1,215,911, cash provided from a grant receivable of $425,000,
a decrease in prepaid expenses of $205,032 and an increase of $946,648 of accounts payable. For the three months ended June 30, 2020
the net cash used in operating activities was $5,484,465 which was primarily due to the Company’s net loss of $6,741,804 and a
decrease of $335,893 from accounts payable. In addition, there was non-cash stock-based compensation expense of $1,815,654 and
amortization of deferred revenue of $229,161. Investing
Activities For
the three months ended June 30, 2021 and June 30, 2020, net cashed used in investing activities was $27,055 and $243,527, respectively, which was
for the purchase of property and equipment. Financing
Activities Net
cash provided by financing activities for the three months ended June 30, 2021 was $8,305,518 and which was primarily from the net
proceeds for the issuance of common stock related to the Stock Purchase Agreement and ATM of $8,512,867 offset by a loan payment of
$207,349. Net cash provided by financing activities for the three months ended June 30, 2020 was $4,709,098 which was primarily from
the net proceeds from the issuance of common stock issued related to the Stock Purchase Agreement with LPC, net proceeds the
issuance of common stock in connection with ATM and proceeds from the issuance of common stock from warrant exercises of $4,834,877
offset by a loan payment of $125,779. Contractual Obligations There
have been no material changes to our contractual obligations since March 31, 2021. For a summary of our contractual obligations,
see Item 7 of Part II of our Annual Report on Form 10-K . Liquidity
and Capital Resources Overview We
have not generated any revenue from the sale of products, and we do not expect to generate revenue from sale of our products until certification
or regulatory approval is received for our product candidates. We had an operating cash flow decrease of $3.9 million for the three months
ended June 30, 2021 and we have experienced an accumulated loss of $87.2 million as of June 30, 2021. As of June 30, 2021, we
had cash, cash equivalents and restricted cash of $39.6 million. We believe that our cash, cash equivalents of June 30, 2021, will enable
us to fund our operating expenses and capital expenditure for at least one year from the date of filing these financial statements. Our future capital needs and
the adequacy of its available funds will depend on many factors, including, but not necessarily limited to, the cost and time necessary
for the development, clinical studies and certification or regulatory approval of our other medical devices, indications as well as the
commercial success of our first product candidates that receive marketing approval by the FDA. The Company may be required to
raise additional funds through equity or debt securities offerings or strategic collaboration and/or licensing agreements
in order to fund operations until it is able to generate enough product or royalty revenues, if any. Such financing may
not be available on acceptable terms, or at all, and the Company’s failure to raise capital when needed could have a material
adverse effect its strategic objectives, results of operations and financial condition. There can be
no assurance that we will be able to obtain additional equity or debt financing on terms acceptable to us, if at all. On
March 17, 2020, we entered into a facility agreement with certain lenders (“Facility Agreement”) pursuant to which the lenders
agreed to loan up to $25,000,000 in five tranches of $5,000,000 per tranche at our option, provided however that we may only utilize
tranches three through five following FDA approval of LungFit ® On
April 2, 2020, we entered an At-The-Market Equity Offering Sales Agreement with SunTrust Robinson Humphrey, Inc. and Oppenheimer &
Co. (the “ATM”). Under the ATM, we may sell shares of our common stock having aggregate sales proceeds of up to $50 million,
from time to time and at various prices. If shares of our common stock are sold, there is a three percent fee paid to the sales agent.
As of June 30, 2021, there was a balance of approximately $29.9 million available under the ATM. On
May 14, 2020, we entered into the $40 million Stock Purchase Agreement (with Lincoln Park Capital Fund, LLC
(“LPC”), which replaced the former $20 million purchase agreement with LPC, dated August 10, 2018. The Stock Purchase
Agreement provides for the issuance of up to $40 million of our common stock, which we may sell from time to time in our sole
discretion, to LPC over the next 36 months, subject to the conditions and limitations in the New Stock Purchase Agreement. As of June
30, 2021, there was a balance of approximately $28.2 million available under the New Stock Purchase Agreement. Our
ability to continue to operate beyond twelve months from the filing of this Form 10-K will be largely dependent upon the approval of
our PMA for the PPHN medical device, the expected timing and commercial acceptance of the launch this device, as well as obtaining partners
in other parts of the world, and raising additional funds to finance our activities until we are generating cash flow from operations.
Further, there are no assurances that we will be successful in obtaining an adequate level of financing for the development and commercialization
of our other product candidates. There
are numerous risks and uncertainties associated with the development of our NO delivery system and we are unable to estimate the amounts
of increased capital outlays and operating expenses associated with completing the research and development of our product candidates. Our
future capital requirements will depend on many factors, including:
● the
effects of the COVID-19 pandemic on our business, the medical community and the global economy;
● the
progress and costs of our preclinical studies, clinical trials and other research and development activities;
● the
costs of commercializing the LungFit ®
● the
scope, prioritization and number of our clinical trials and other research and development programs;
● the
costs and timing of obtaining certification or regulatory approval for our product candidates;
● the
costs of filing, prosecuting, enforcing and defending patent claims and other intellectual property rights;
● the
costs of, and timing for, strengthening our manufacturing agreements for production of sufficient clinical quantities of our product
candidate;
● the
potential costs of contracting with third parties to provide marketing and distribution services for us or for building such capacities
internally;
● the
costs of acquiring or undertaking the development and commercialization efforts for additional, future therapeutic applications of
our product candidates;
● the
magnitude of our general and administrative expenses; and
● any
cost that we may incur under current and future in-and out-licensing arrangements relating to our product candidates. We
are exposed to market risks in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial
position due to adverse changes in financial market prices and rates. Our market risk exposure is primarily a result of foreign currency
exchange rates. Evaluation
of Disclosure Controls and Procedures We
carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer
(our principal executive officer) and Chief Financial Officer (our principal financial officer), of the effectiveness
of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange
Act. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required
to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s
management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate,
to allow timely decisions regarding required disclosure. Management recognizes that any controls and procedures, no matter how well
designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment
in evaluating the cost-benefit relationship of possible controls and procedures. Based upon our evaluation, our Chief Executive Officer
and Chief Financial Officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level
as of June 30, 2021. Changes
in Internal Control Over Financial Reporting During
the three months ended June 30, 2021, there was no change in our internal controls over financial reporting that materially affected,
or is reasonably likely to materially affect our, internal controls over financial reporting. OTHER INFORMATION See
Note 14 to our unaudited consolidated financial statements. There have been no material
changes with respect to risk factors previously disclosed in the Company’s Form 10-K for the year ended March 31, 2021, filed with
the Securities and Exchange Commission on June 10, 2021. None. None. Not Applicable. Not Applicable.
Exhibit No. Description
3.1 Amended and Restated Certificate of Incorporation of AIT Therapeutics, Inc., dated January 9, 2017, filed as Exhibit 3.1 to our Current Report on Form 8-K, as amended and filed with the SEC on March 15, 2017, and incorporated herein by reference.
3.2 Certificate of Amendment of the Amended and Restated Certificate of Incorporation, dated June 25, 2019, filed as Exhibit 3.3 to our Annual Report on Form 10-K, as filed with the SEC on June 28, 2019, and incorporated herein by reference.
3.3 Form of Second Certificate of Amendment of the Amended and Restated Certificate of Incorporation of Beyond Air, Inc. (included in Appendix C to our Definitive Proxy Statement, filed with the SEC on January 22, 2021 and incorporated herein by reference).
3.4 Amended and Restated Bylaws of AIT Therapeutics, Inc., filed as Exhibit 3.2 to our Current Report on Form 8-K, as amended and filed with the SEC on March 15, 2017, and incorporated herein by reference.
4.1 Form of Common Stock Certificate, filed as Exhibit 4.1 to our Current Report on Form 8-K, as amended and filed with the SEC on March 15, 2017, and incorporated herein by reference.
4.2 Form of Warrant to Purchase Common Stock, by and among AIT Therapeutics, Inc. and the Holders party thereto, filed as Exhibit 10.3 to our Current Report on Form 8-K, as amended and filed with the SEC on March 15, 2017, and incorporated herein by reference.
4.3 Form of Warrant to Purchase Common Stock, by and among AIT Therapeutics, Inc. and the Holders party thereto, filed as Exhibit 4.1 to our Current Report on Form 8-K, as filed with the SEC on April 4, 2017, and incorporated herein by reference.
4.4 Form of Warrant to Purchase Common Stock, by and among AIT Therapeutics, Inc. and the Holders party thereto, filed as Exhibit 4.1 to our Current Report on Form 8-K, as filed with the SEC on February 22, 2018, and incorporated herein by reference.
4.5 Form of Warrant to Purchase Common Stock, filed as Exhibit 4.1 to our Current Report on Form 8-K, as filed with the SEC on March 20, 2020 and incorporated herein by reference.
10.1*# Settlement Agreement and Release, dated May 26, 2021, by and between Beyond Air, Inc. and Circassia Limited.
10.2* Executive Employment Agreement, dated June 30, 2018, by and between AIT Therapeutics, Inc. and Steven Lisi.
10.3* Executive Employment Agreement, dated June 30, 2018, by and between AIT Therapeutics, Inc. and Amir Avniel.
31.1 Certification of Chief Execut |
