Beyond Air (XAIR) 10-Q 12 Nov 21 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Sep. 30, 2021	Nov. 11, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--03-31
Entity File Number	001-38892
Entity Registrant Name	BEYOND AIR, INC.
Entity Central Index Key	0001641631
Entity Tax Identification Number	47-3812456
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	900 Stewart Avenue
Entity Address, Address Line Two	Suite 301
Entity Address, City or Town	Garden City
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11530
City Area Code	516
Local Phone Number	665-8200
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	XAIR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,640,039

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Current assets
Cash and cash equivalents	$ 47,699	$ 34,631
Restricted cash	1,047	637
Grant receivable		425
Other current assets and prepaid expenses	1,550	1,530
Total current assets	50,295	37,223
Licensed right to use technology	356	375
Right-of-use lease assets	1,769	1,861
Property and equipment, net	1,424	929
Other assets	211	138
TOTAL ASSETS	54,056	40,525
Current liabilities
Accounts payable	2,241	1,325
Accrued expenses	4,352	1,805
Operating lease liability	178	113
Loan payable	140	557
Total current liabilities	6,912	3,800
Long-term liabilities
Operating lease liability	1,684	1,789
Long-term debt, net	4,539	4,472
Total liabilities	13,134	10,061
Commitments and contingencies
Stockholders’ equity
Preferred Stock, $0.0001 par value per share: 10,000,000 shares authorized, 0 shares issued and outstanding
Common Stock, $0.0001 par value per share: 100,000,000 shares authorized, 25,209,749 and 21,828,244 shares issued and outstanding as of September 30, 2021 and March 31, 2021, respectively	3	2
Treasury stock	(25)	(25)
Additional paid-in capital	136,840	110,948
Accumulated deficit	(95,897)	(80,462)
Total stockholders’ equity	40,921	30,464
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 54,056	$ 40,525

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, par value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	25,209,749	21,828,244
Common Stock, Shares, Outstanding	25,209,749	21,828,244

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
License revenues		$ 350		$ 579
Operating expenses:
Research and development	2,807	3,147	5,548	7,479
General and administrative	3,395	2,169	7,245	4,663
Operating expenses	6,201	5,316	12,793	12,142
Operating loss	(6,201)	(4,967)	(12,793)	(11,563)
Other income (loss)
Dividend and interest income	1	1	2	16
Interest expense	(161)	(159)	(323)	(322)
Foreign exchange loss	0	(7)	9	(6)
Estimated Liability for Contingent Loss	(2,330)		(2,330)	2
Total other income (loss)	(2,490)	(165)	(2,642)	(310)
Net loss	$ (8,692)	$ (5,132)	$ (15,435)	$ (11,874)
Net basic and diluted loss per share	$ (0.36)	$ (0.30)	$ (0.67)	$ (0.71)
Weighted average number of shares of common stock used in computing basic and diluted net loss per share	24,165,965	17,120,801	23,061,667	16,826,712

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Mar. 31, 2020	$ 2	$ (25)	$ 75,703	$ (57,587)	$ 18,092
Beginning balance, shares at Mar. 31, 2020	16,056,360
At the market stock issuance of common stock, net	$ 0		900		900
At-The-Market issuance of common stock, net, shares	113,712
Issuance of common stock upon exercise of warrants	$ 0		293		293
Issuance of common stock upon exercise of warrants, shares	70,538
Issuance of common stock upon exercise of stock options	$ 0		1		1
Issuance of common stock upon exercise of stock options, shares	2,340
Issuance of common stock pursuant to a Purchase Agreement, net	$ 0		3,642		3,642
Issuance of common stock pursuant to a Purchase Agreement, net, shares	568,605
Stock-based compensation			1,814		1,814
Issuance of common stock to investor relations firm	$ 0		242		242
Issuance of common stock to investor relations firm, shares	30,000
Net loss				(6,742)	(6,742)
Ending balance, value at Jun. 30, 2020	$ 2	(25)	82,593	(64,329)	18,241
Ending balance, shares at Jun. 30, 2020	16,841,555
Beginning balance, value at Mar. 31, 2020	$ 2	(25)	75,703	(57,587)	18,092
Beginning balance, shares at Mar. 31, 2020	16,056,360
Net loss					(11,874)
Ending balance, value at Sep. 30, 2020	$ 2	(25)	85,614	(69,461)	16,130
Ending balance, shares at Sep. 30, 2020	17,152,414
Beginning balance, value at Jun. 30, 2020	$ 2	(25)	82,593	(64,329)	18,241
Beginning balance, shares at Jun. 30, 2020	16,841,555
At the market stock issuance of common stock, net	$ 0		1,536		1,536
At-The-Market issuance of common stock, net, shares	227,527
Issuance of common stock upon exercise of warrants	$ 0		305		305
Issuance of common stock upon exercise of warrants, shares	83,332
Stock-based compensation			1,180		1,180
Net loss				(5,132)	(5,132)
Ending balance, value at Sep. 30, 2020	$ 2	(25)	85,614	(69,461)	16,130
Ending balance, shares at Sep. 30, 2020	17,152,414
Beginning balance, value at Mar. 31, 2021	$ 2	(25)	110,948	(80,462)	30,464
Beginning balance, shares at Mar. 31, 2021	21,828,244
At the market stock issuance of common stock, net	$ 0		7,481		7,482
At-The-Market issuance of common stock, net, shares	1,239,405
Issuance of common stock pursuant to a Purchase Agreement, net	$ 0		1,031		1,031
Issuance of common stock pursuant to a Purchase Agreement, net, shares	200,000
Stock-based compensation			1,216		1,216
Net loss				(6,743)	(6,743)
Ending balance, value at Jun. 30, 2021	$ 2	(25)	120,677	(87,205)	33,450
Ending balance, shares at Jun. 30, 2021	23,267,649
Beginning balance, value at Mar. 31, 2021	$ 2	(25)	110,948	(80,462)	30,464
Beginning balance, shares at Mar. 31, 2021	21,828,244
Net loss					(15,435)
Ending balance, value at Sep. 30, 2021	$ 3	(25)	136,840	(95,897)	40,921
Ending balance, shares at Sep. 30, 2021	25,209,749
Beginning balance, value at Jun. 30, 2021	$ 2	(25)	120,677	(87,205)	33,450
Beginning balance, shares at Jun. 30, 2021	23,267,649
At the market stock issuance of common stock, net	$ 0		14,958		14,958
At-The-Market issuance of common stock, net, shares	1,659,664
Issuance of common stock upon exercise of warrants	$ 0		0
Issuance of common stock upon exercise of warrants, shares	271,811
Issuance of common stock upon exercise of stock options	$ 0		50		50
Issuance of common stock upon exercise of stock options, shares	10,625
Stock-based compensation			1,155		1,155
Net loss				(8,692)	(8,692)
Ending balance, value at Sep. 30, 2021	$ 3	$ (25)	$ 136,840	$ (95,897)	$ 40,921
Ending balance, shares at Sep. 30, 2021	25,209,749

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net loss	$ (15,435)	$ (11,874)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	123	74
Amortization of licensed right to use technology	19	19
Stock-based compensation	2,371	2,995
Deferred revenue		(579)
Amortization of debt discount and accretion of debt issuance costs	67	67
Amortization of operating lease assets	97	36
Gain on cancellation of operating lease		(2)
Foreign currency adjustments	(5)	6
Changes in:
Grant Receivable	425
Other current assets and prepaid expenses	(20)	672
Accounts payable	909	(436)
Accrued expenses	2,551	250
Lease payments		(34)
Net cash used in operating activities	(8,898)	(8,806)
Cash flows from investing activities
Security Deposits made on rental properties	(73)
Purchase of property and equipment	(619)	(731)
Net cash used in investing activities	(692)	(731)
Cash flows from financing activities
Issuance of common stock in connection with a Purchase Agreement with Lincoln Park, At the Market Offerings, private placement, net, exercise of warrants and stock options	23,521	6,676
Payment of loan	(453)	(251)
Net cash provided by financing activities	23,068	6,425
(Decrease) increase in cash, cash equivalents and restricted cash	13,478	(3,112)
Cash, cash equivalents and restricted cash at beginning of period	35,268	25,465
Cash, cash equivalents and restricted cash at end of period	48,746	22,353
Supplemental disclosure of non-cash investing and financing activities
Right-of-use assets		237
Operating lease liability		237
Disposition of right-of-use asset		(17)
Disposition of operating lease liability		19
Stock issued to investor relations firm		242
Supplemental disclosure of cash flow items:
Interest paid	179	81
Income taxes paid

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	6 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	NOTE 1 ORGANIZATION AND BUSINESS Beyond Air, Inc. (together with its subsidiaries, “Beyond Air” or the “Company”) was incorporated on April 28, 2015 under Delaware law. On June 25, 2019, the Company’s name was changed to Beyond Air, Inc. from AIT Therapeutics, Inc. The Company has the following wholly-owned subsidiaries: Beyond Air Ltd. (“BA Ltd.”) incorporated on May 1, 2011 in Israel. Beyond Air Australia Pty Ltd., incorporated on December 17, 2019 in Australia. Beyond Air Ireland Limited, incorporated on March 5, 2020 in Ireland. Beyond Cancer Ltd, incorporated on August 13, 2021 in Bermuda. Beyond Air is a clinical-stage medical device and biopharmaceutical company developing a nitric oxide (“NO”) generator and delivery system (the “LungFit ® ® ® ® ® ® Liquidity Risks and Uncertainties The Company used cash in operating activities of $ 5.0 million for the three months ended September 30, 2021, and has accumulated losses of $ 95.9 million. The Company had cash, cash equivalents and restricted cash of $ 48.7 million as of September 30, 2021. Based on management’s current business plan, the Company estimates that it will have enough cash and liquidity sufficient to finance its operating requirements for at least one year from the date of filing these financial statements. The Company’s future capital needs and the adequacy of its available funds will depend on many factors, including, but not necessarily limited to, the actual cost and time necessary for current and anticipated preclinical studies, clinical trials and other actions needed to obtain regulatory approval of the Company’s medical devices in development as well as the cost to launch the Company’s first product for PPHN, assuming approval of Beyond Air’s Pre-Market Approval Process (PMA). 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 on its strategic objectives, results of operations and financial condition. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1 ORGANIZATION AND BUSINESS (continued) Liquidity Risks and Uncertainties The Company’s access to capital and liquidity currently includes the following: a) An At-The-Market Equity Offering Sales Agreement, dated April 2, 2020 (the “ATM”) for $ 50 million, of which approximately $ 14.5 million remained as of September 30, 2021 (see Note 5). b) A $ 40 million stock purchase agreement with Lincoln Park Capital Fund, LLC (“LPC”) dated as of May 14, 2020 (the “Stock Purchase Agreement”), of which approximately $ 28.2

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions to the Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The accompanying unaudited condensed consolidated balance sheet as of September 30, 2021 has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2021 (the “2021 Annual Report”), was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 10, 2021 and amended on July 23, 2021. The unaudited condensed consolidated financial statements and related disclosures should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the 2021 Annual Report. Principles of Consolidation These unaudited condensed consolidated financial statements include the accounts of the Company and the accounts of all of the Company’s subsidiaries. All intercompany balances and transactions have been eliminated in the accompanying financial statements. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its significant estimates including accruals for expenses under consulting, licensing agreements, and clinical trials, stock-based compensation, and the determination of deferred tax attributes and the valuation allowance thereon. Other Risks and Uncertainties The Company is subject to risks common to medical device and development stage companies including, but not limited to, new technological innovations, regulatory approval, dependence on key personnel, protection of proprietary technology, compliance with government regulations, product liability, uncertainty of market acceptance of products and the potential need to obtain additional financing. The Company is dependent on third-party suppliers and, in some cases single-source suppliers. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 SIGNIFICANT ACCOUNTING POLICIES (continued) The Company’s products require approval or clearance from the FDA prior to commencement of commercial sales in the United States. There can be no assurance that the Company’s products will receive all of the required approvals or clearances. Approvals or clearances are also required in foreign jurisdictions in which the Company may license or sell its products. If the Company is denied such approvals or clearances or such approvals or clearances are delayed, such denial or delay may have a material adverse impact on the Company’s results of operations, financial position and liquidity. Further, there can be no assurance that the Company’s product will be accepted in the marketplace, nor can there be any assurance that any future products can be developed or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products will be successfully marketed, if at all. 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 ® due to the redundancy in parts and suppliers with ventilator manufacturing which has since been remedied. The Company continuously assesses the impact COVID-19 may have on the Company’s business plans and its ability to conduct the preclinical studies and clinical trials as well as on the Company’s reliance on third-party manufacturing and global supply chains. However, there can be no assurance that the Company will be able to avoid part or all of any impact from COVID-19 or its consequences if a resurgence occurs. The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment in a U.S. government money market fund to be cash equivalents. The Company maintains its cash and cash equivalents in highly rated financial institutions in Israel, Ireland and the U.S., the balances of which, at times, may exceed federally insured limits. The Company has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements. As of September 30, 2021 and March 31, 2021, restricted cash included $ 1,019 thousand and $ 619 thousand designated for a contract manufacturer, respectively. This cash is expected to be used for materials and parts that require long lead times. See Note 14 for additional restrictions subsequent to year end. The following table is the reconciliation of the presentation and disclosure of financial instruments as shown on the Company’s consolidated statements of cash flows: SCHEDULE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (amounts in thousands) September 30, 2021 September 30, 2020 Cash and cash equivalents $ 47,699 $ 21,717 Restricted cash 1,047 636 Total $ 48,746 $ 22,353 Revenue Recognition The Company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. To determine revenue recognition for contracts with customers, the Company performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligation(s) in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligation(s) in the contract and (v) recognize revenue when (or as) the Company satisfies the performance obligation(s). At contract inception, the Company assesses the goods or services promised within each contract, assesses whether each promised good or service is distinct and identifies those promised goods or services that are performance obligations. The Company uses judgment to determine (a) the number of performance obligations based on the determination under step (ii) above and whether those performance obligations are distinct from other performance obligations in the contract (b) the transaction price under step (iii) above and (c) the stand-alone selling price for each performance obligation identified in the contract for the allocation of the transaction price in step (iv) above. The Company also uses judgment to determine whether milestones or other variable consideration, except for royalties, should be included in the transaction price. The transaction price is allocated to each performance obligation on an estimated stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under contract are satisfied. Where a portion of non-refundable up-front fees or other payments received are allocated to continuing performance obligations under the terms of a license arrangement, such fees or other payments are recorded as contract liabilities and recognized as revenue when (or as) the underlying performance obligation is satisfied. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 SIGNIFICANT ACCOUNTING POLICIES (continued) Grant receivable Under a collaboration arrangement with the Cystic Fibrosis Foundation (“CFF”), grant milestones are achieved subject to certain performance steps and requirements under a development program. Grant milestones are recorded as reimbursements against the applicable portion of the Company’s research and development expenses. Such reimbursements are reflected as a reduction of research and development expenses in the Company’s consolidated statements of operations, as the performance of research and development services for reimbursement is not considered to be an ongoing component or central to the Company’s operations. Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. To date, the Company views its operations and manages its business as one Research and Development Research and development expenses are charged to the statement of operations as incurred. Research and development expenses include salaries, benefits, stock-based compensation and costs incurred by outside laboratories, manufacturers, clinical research organizations, consultants, and accredited facilities in connection with preclinical studies and clinical trials. Research and development expenses are partially offset by the benefit of tax incentive payments for qualified research and development expenditures from the Australian tax authority (“AU Tax Rebates”). The Company does not record AU Tax Rebates until payment is received due to the uncertainty of receipt. To date, the Company has not received any AU Tax Rebates. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 SIGNIFICANT ACCOUNTING POLICIES (continued) Foreign Exchange Transactions The Company’s subsidiaries transact in U.S. dollars, Euros, New Israeli Shekels and Australian dollars. The Company’s main operations are in the United States and the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. The Company translated its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations as of September 30, 2021 and March 31, 2021 were not material. Gains or losses from foreign currency transactions are included in other income (expense) in the statement of operations as foreign currency exchange gain/(loss). Stock-Based Compensation The Company measures the cost of employee and non-employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. Fair value for restricted stock awards is valued using the closing price of the Company’s common stock on the date of grant. The grant date fair value is recognized over the requisite service period during which an employee and non-employee is required to provide service in exchange for the award. The grant date fair value of employee and non-employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. Due to the Company’s limited trading history, the Company utilizes weighting of its historical volatility and the implied volatility based on an aggregate of guideline companies. The Company uses the simplified method to estimate the expected term. Property and Equipment Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful life of the assets as follows: SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS Computer equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Five or Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset Licensed Right to Use Technology Licensed right to use technology that is considered platform technology with alternative future uses is recorded as an intangible asset and is amortized on a straight-line method over its estimated useful life, determined to be thirteen years (see Note 14). The expected amortization expense for the next five years and thereafter is as follows for the year ended March 31 (in thousands): SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE Remainder of 2022 $ 19 2023 38 2024 38 2025 38 2026 38 Thereafter 184 Total $ 356 Long-Lived Assets The Company assess the impairment of long-lived assets on an ongoing basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors that the Company considers as potential triggers of an impairment review include the following: ● significant underperformance relative to expected historical or projected future operating results, ● significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business, ● significant negative regulatory or economic trends, and ● significant technological changes, which would render the platform technology, equipment, and manufacturing processes obsolete. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 SIGNIFICANT ACCOUNTING POLICIES (continued) Long-Lived Assets Recoverability of assets that will continue to be used in the Company’s operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimates of future costs. There were no events during the reporting periods that were deemed to be a triggering event that would require an impairment assessment. Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of September 30, 2021 and March 31, 2021, the Company recorded a valuation allowance to the full extent of the Company’s net deferred tax assets since the likelihood of realization of the benefit does not meet the more-likely-than-not threshold. The Company files U.S. federal, various state, and international income tax returns. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances. Such adjustment is reflected in the tax provision when appropriate . Net Income (Loss) Per Share Basic and diluted net loss per share attributable to common stockholders is computed by dividing the net loss and deemed dividend from a warrant modification to common stockholders, if any, by the weighted average number of shares of common stock outstanding for the period. The dilutive effect of outstanding options, warrants, restricted stock and other stock-based compensation awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The calculation of diluted net income (loss) attributed to common stockholders per share excludes all anti-dilutive shares of common stock. For periods in which the Company has reported net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because such shares of common stock are not assumed to have been issued if their effect is anti-dilutive, see Note 9. New Accounting Standards There are no recently issued accounting standards that have been adopted in the current period or will be adopted in future periods that have had or are expected to have a material impact on the Company’s consolidated financial position or results of operations. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	NOTE 3 FAIR VALUE MEASUREMENT The Company’s financial instruments primarily include cash, cash equivalents, restricted cash, accounts payable, and a short-term loan. Due to the short-term nature of these financial instruments, the carrying amounts of these assets and liabilities approximate their fair value. The long-term debt approximates fair value due to the prevailing market conditions for similar debt with remaining maturity and terms. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value. A fair value hierarchy has been established for valuation inputs that give the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 - quoted prices in active markets for identical assets or liabilities; Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4 PROPERTY AND EQUIPMENT Property and equipment consist of the following as of September 30, 2021 and March 31, 2021: SCHEDULE OF PROPERTY AND EQUIPMENT (in thousands) September 30, 2021 March 31, 2021 Clinical and medical equipment $ 1,211 $ 1,074 Computer equipment 276 152 Furniture and fixtures 251 133 Leasehold improvements 262 22 2,000 1,381 Accumulated depreciation and amortization (576 ) (453 ) $ 1,424 $ 929 Depreciation and amortization expense for the three months ended September 30, 2021 and September 30, 2020 was $ 65 40 123 74 BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 5 STOCKHOLDERS’ EQUITY On April 2, 2020, the Company entered into an ATM for $ 50 million utilizing the Company’s shelf registration statement on Form S-3. Under the ATM, the Company may sell shares of its common stock having aggregate sales proceeds of up to $ 50 million from time to time and at various prices, subject to the conditions and limitations set forth in the sales agreement. If shares of the Company’s common stock are sold, there is a three percent fee paid to the sales agent. For the three months ended September 30, 2021 and September 30, 2020, the Company received net proceeds of $ 15.0 million and $ 1.5 million from the sale of 1,659,664 and 227,527 shares of the Company’s common stock, respectively. For the six months ended September 30, 2021 and September 30, 2020, the Company received net proceeds of $ 22.4 million and $ 2.4 million from the sale of 2,899,069 and 341,239 shares of the Company’s common stock, respectively. As of September 30, 2021, there was a balance of approximately $ 14.5 million available under the ATM. On May 14, 2020, the Company entered into the Stock Purchase Agreement with LPC, which provides for the issuance of up to $ 40 0.25 1.0 3.6 200,000 568,605 28.2 Restricted Stock The fair value for the restricted stock awards was valued at the closing price of the Company’s common stock on the date of grant. Restricted stock vests annually over five years A summary of the Company’s restricted stock awards for the period ended September 30, 2021 is as follows: SCHEDULE OF CHANGE IN WARRANTS OPTIONS Number Of Shares Weighted Average Grant Date Fair Value Unvested as of April 1, 2021 554,200 5.07 Forfeited (17,000 ) 5.23 Unvested as of September 30, 2021 537,200 $ 5.07 Stock-based compensation related to these stock issuances for the three months ended September 30, 2021 and September 30, 2020 was $ 161 377 319 771 Stock Option Plan The Company’s Third Amended and Restated 2013 Equity Incentive Plan (the “2013 Plan”) allows for awards to officers, directors, employees, and consultants of stock options, restricted stock units and restricted shares of the Company’s common stock. The vesting terms of the options issued under the 2013 Plan are generally four years 5,600,000 520,011 BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 5 STOCKHOLDERS’ EQUITY (continued) A summary of the Company’s options for the six months ended September 30, 2021, is as follows: SCHEDULE OF OPTION ACTIVITY Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Number Price - Life- Value Of Options Options Options (thousands) Options outstanding as of April 1, 2021 4,195,097 $ 4.91 8.4 $ 2,609 Granted 171,500 8.43 Exercised (10,625 ) 4.69 Forfeited (84,312 ) 5.06 Outstanding as of September 30, 2021 4,271,660 $ 4.98 7.8 $ 26,221 Exercisable as of September 30, 2021 2,042,035 $ 4.47 6.8 $ 13,584 As of September 30, 2021, the Company has unrecognized stock-based compensation expense of approximately $ 5.2 million related to unvested stock options which is expected to be expensed over the weighted average remaining service period of 2.4 years. An option to purchase 75,000 7.92 and $ 5.13 per share during the six months ended September 30, 2021 and September 30, 2020, respectively. The following were utilized on the date of the grants: SCHEDULE OF ASSUMPTION OF BLACK-SCHOLES OPTION PRICING MODEL September 30, 2021 September 30, 2020 Risk-free interest rate 0.1 % 0.5 - 0.7 % Expected volatility 90.3 90.5 87.8 92.5 % Dividend yield 0 % 0 % Expected terms (in years) 6.25 5.18 6.25 The following summarizes the components of stock-based compensation expense which include stock options and restricted stock for the three and six months ended September 30, 2021 and September 30, 2020, respectively SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three Months Ended Six Months Ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Research and development $ 379 $ 452 $ 744 $ 1,289 General and administrative 776 728 1,627 1,706 Total stock-based compensation expense $ 1,155 $ 1,180 $ 2,371 $ 2,995 On March 4, 2021, the stockholders approved the 2021 Employee Stock Purchase Plan “the ESPP”. The purpose of the ESPP is to encourage and to enable eligible employees of the Company, through after-tax payroll deductions, to acquire proprietary interests in the Company through the purchase and ownership of shares of common stock. The ESPP is intended to benefit the Company and its stockholders by (a) incentivizing participants to contribute to the success of the Company and to operate and manage the Company’s business in a manner that will provide for the Company’s long-term growth and profitability and that will benefit its stockholders and other important stakeholders and (b) encouraging participants to remain in the employ of the Company. As of September 30, 2021 and March 31, 2021, there were no 750,000 Warrants A summary of the Company’s outstanding warrants as of September 30, 2021 is as follows: SUMMARY OF COMPANY’S OUTSTANDING WARRANTS Warrant Holders Number Of Warrants Exercise Price Date of Expiration January 2017 offering – investors 2,561,568 $ 3.66 January 2022 March 2017 offering – investors 68,330 $ 3.66 March 2022 March 2017 offering - placement agent 7,541 $ 3.66 March 2022 Third-party license agreement 208,333 $ 4.80 January 2024 March 2020 loan (see Note 12) 172,187 $ 7.26 March 2025 Total 3,017,959 (a) These warrants have down round protection. For both the three and six months ended September 30, 2021, 415,664 warrants were exercised on a cashless basis in exchange for 271,811 shares. For the three and six months ended September 30, 2020, there were 83,332 and 153,870 warrants exercised for $ 305 thousand and $ 598 thousand, respectively. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

OTHER CURRENT ASSETS AND PREPAI

OTHER CURRENT ASSETS AND PREPAID EXPENSES	6 Months Ended
	Sep. 30, 2021
Other Current Assets And Prepaid Expenses
OTHER CURRENT ASSETS AND PREPAID EXPENSES	NOTE 6 OTHER CURRENT ASSETS AND PREPAID EXPENSES A summary of current assets and prepaid expenses as of September 30, 2021 and March 31, 2021 is as follows: SCHEDULE OF CURRENT ASSETS AND PREPAID EXPENSES (in thousands) September 30, 2021 March 31, 2021 Research and development $ 663 $ 272 Insurance 378 971 Professional 125 - Value added tax receivable 56 41 Other 327 246 Total $ 1,550 $ 1,530

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
ACCRUED EXPENSES	NOTE 7 ACCRUED EXPENSES A summary of the accrued expenses as of September 30, 2021 and March 31, 2021 is as follows: SUMMARY OF ACCRUED EXPENSES September 30, 2021 March 31, 2021 Research and development $ 700 $ 585 Professional fees 719 709 Employee salaries and benefits 458 270 Other 2,475 242 Total $ 4,352 $ 1,805 On September 30, 2021, the Company recorded an estimate for a contingent loss of $ 2.4 million related to the Empery litigation, see Note 14.

LEASES

LEASES	6 Months Ended
	Sep. 30, 2021
Leases
LEASES	NOTE 8 LEASES On April 1, 2019, the Company early adopted ASU No. 2016-02, Leases (Topic 842), as amended (“ASU 2016-02”), which generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. The right-of use assets and operating lease liability as of September 30, 2021 and March 31, 2021 are as follows: SCHEDULE OF OPERATING LEASE LIABILITY (in thousands) September 30, 2021 March 31, 2021 Right-of-use assets $ 1,769 $ 1,861 Operating lease liability short-term $ 178 $ 113 Operating lease liability long-term 1,684 1,789 Total $ 1,862 $ 1,903 Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected remaining lease term. Certain adjustments to the right-of-use asset may be required for items such as prepaid or accrued rent. The interest rate implicit in the Company’s leases is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. Operating lease expense is recognized on a straight-line basis over the lease term and is included in general and administrative and research development expenses. The Company has other operating lease agreements with commitments of less than one year or that are not significant. The Company elected the practical expedient option and as such these lease payments are expensed as incurred. SCHEDULE OF LEASE OTHER INFORMATION Other Information for the Six Months Ended September 30, 2021 Cash paid for amounts included in the measurement of lease liabilities (thousands): $ 118 Right-of-use assets obtained in exchange for new operating lease liabilities: - Weighted average remaining lease term — operating leases 8.8 Weighted average discount rate — operating leases 8.3 % SCHEDULE OF MATURITY OF LEASE LIABILITIES Maturity of Lease Liabilities Operating Leases Payments remaining for the year ended March 31 (in thousands): 2022 $ 148 2023 328 2024 287 2025 277 2026 285 Thereafter 1,329 Total lease payments 2,654 Less: interest (792 ) Present value of lease liabilities $ 1,862 BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

BASIC AND DILUTED NET INCOME (L

BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE	NOTE 9 BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE The following potentially dilutive securities were not included in the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: SCHEDULE OF POTENTIAL ANTI-DILUTIVE SECURITIES September 30, 2021 September 30, 2020 Common stock warrants 3,017,959 5,019,854 Common stock options 4,271,660 3,193,249 Restricted stock 537,200 708,800 Total 7,826,819 8,921,903

LICENSE AGREEMENT

LICENSE AGREEMENT	6 Months Ended
	Sep. 30, 2021
License Agreement
LICENSE AGREEMENT	NOTE 10 LICENSE AGREEMENT On January 23, 2019, the Company entered into an agreement for commercial rights (the “Circassia Agreement”) with Circassia Limited and its affiliates (collectively, “Circassia”) for PPHN and future related indications at concentrations of < 80 ppm in the hospital setting in the United States and China. On December 18, 2019, the Company terminated the Circassia Agreement. On May 25, 2021, the Company entered into a settlement with Circassia, see Note 14. As of March 31, 2021, the Company met its performance obligation under the Circassia Agreement and revenue therefrom has been previously recognized. License revenue of $ 0 350 0 579

GRANT COLLABORATON AGREEMENT

GRANT COLLABORATON AGREEMENT	6 Months Ended
	Sep. 30, 2021
Grant Collaboraton Agreement
GRANT COLLABORATON AGREEMENT	NOTE 11 GRANT COLLABORATON AGREEMENT On February 10, 2021, the Company received a grant for up to $ 2.17 million from the CFF to advance the clinical development of high concentration NO for the treatment of Nontuberculous Mycobacteria, or NTM pulmonary disease, which disproportionally affects cystic fibrosis (“CF”) patients. Under the terms of the grant agreement, the funding will be allocated to the ongoing LungFit ® 10% of net sales. The royalties are capped at four times the grant actually paid to the Company. For the three and six months ended September 30, 2021, the Company recognized $ 207 432 BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

LONG-TERM LOAN

LONG-TERM LOAN	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
LONG-TERM LOAN	NOTE 12 LONG-TERM LOAN On March 17, 2020, the Company entered into the Facility Agreement with certain lenders for up to $ 25.0 million in five tranches of $ 5.0 million per tranche. Such tranches are at the option of the Company provided, however that the Company may only utilize tranches three through five following FDA approval of the LungFit ® 10% per year which is to be paid quarterly. The loans may be prepaid with certain prepayment penalties. The effective interest rate for this loan is 13.3% per year. Each tranche shall be repaid in installments commencing on June 15, 2023 with all amounts outstanding under any tranche due on March 17, 2025. The Company received proceeds from the first tranche in fiscal year 2020. A lender who is an over 5% stockholder loaned the Company $ 3,160 thousand of the first tranche and, as such, related party interest expense for the three months ended September 30, 2021 and September 30, 2020 was $ 158 thousand and $ 158 thousand (not including amortization of debt discount and deferred offering costs), respectively. In connection with the first tranche, the Company issued, in March 2020, warrants to the lenders for the purchase of 172,826 shares of the Company’s common stock at $ 7.26 per share. The warrants expire in five years . There are additional warrant issuances associated with each tranche. If the second tranche of $ 5 million is utilized by the Company, the warrants that will be issued are up to 25% of their commitment value divided by the five-day volume-weighted average price (“VWAP”) prior to the utilization date. If any of tranches three to five are utilized by the Company, the warrants that will be issued are up to 10% of their commitment value divided by the five-day VWAP. The Company allocated the fair market value of the warrants at the date of grant to stockholders’ equity and reflected a debt discount of $ 595 thousand. Debt discount and debt issuance costs are amortized over the life of the loan. A summary of the long-term loan balance as of September 30, 2021 and March 31, 2021 is as follows: SCHEDULE OF LONG-TERM LOAN (in thousands) September 30, 2021 March 31, 2021 Face value of loan $ 5,000 $ 5,000 Debt discount (595 ) (595 ) Accretion of debt discount 183 123 Amortization of debt offering costs 22 15 Debt offering costs (71 ) (71 ) Total $ 4,539 $ 4,472 SCHEDULE OF MATURITY OF LONG-TERM LOAN Maturity of Long-Term Loan (in thousands) September 30, 2021 2022 $ - 2023 500 2024 2,250 2025 2,250 Total $ 5,000 During October 2021, the Company amended the Facility agreement to offer the lenders the ability to accept redemption of all amounts outstanding from the first tranche of $ 5.0 November 10, 2021 See Note 15.

LOAN PAYABLE

LOAN PAYABLE	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
LOAN PAYABLE	NOTE 13 LOAN PAYABLE As of September 30, 2021 and March 31, 2021 in connection with the Company’s insurance policy, a loan was used to finance part of the premium. The following details concerning each loan are as follows: SCHEDULE OF LOAN PAYABLE September 30, 2021 March 31, 2021 (in thousands) Amount outstanding $ 140 $ 557 Monthly payments $ 70 $ 70 Number of monthly payments remaining 2 8 Interest rate 3.2 % 3.2 % Due date November 2021 November 2021 BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
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 thousand that is credited against future royalty payments, and is obligated to pay 5% royalties of any licensed product net sales, but at least $ 50 thousand per annum during the term of the agreement. As of September 30, 2021, the Company has not paid any royalties to CareFusion since the Company has not received any revenues from the technology associated with the license under the CareFusion Agreement. The term of the CareFusion Agreement extends through the life of applicable patents and may be terminated by either party with 60 days’ prior written notice in the event of a breach of the CareFusion Agreement, and may be terminated unilaterally by CareFusion with 30 days’ prior written notice in the event that the Company does not meet certain milestones. 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 (the “Option”). On January 13, 2017, the Company exercised the Option and paid $ 500 thousand to Pulmonox. The Company is 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 such payments, 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 ® 2.0 million in future payments based upon the achievement of certain milestones, as defined in the NitricGen Agreement, and royalties on sales of LungFit ® 100 thousand upon the execution of the NitricGen Agreement, $ 100 thousand upon achieving the next milestone and issued 100,000 warrants to purchase the Company’s common stock valued at $ 295 thousand upon the execution of the NitricGen Agreement. The remaining future milestone payments are $ 1.8 million of which $ 1.5 million is due six months after the first approval of the eNOGenerator by the FDA or the European Medicines Agency. On May 25, 2021, the Company and Circassia Limited entered into a Settlement Agreement resolving all claims by and between both parties and mutually terminating the Circassia agreement disclosed in Note 10. Pursuant to the terms of the Settlement Agreement, the Company agreed to pay Circassia $ 10.5 2.5 million 3.5 4.5 ® 6 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 12 months’ notice of the intent not to renew the agreement. The Company has placed several purchase orders under the aforementioned agreement. The non-cancellable portion of the purchase orders with this supplier as of September 30, 2021 is approximately $ 1.1 million. Additionally, long lead time materials in the amount of $ 1.0 million have been ordered on behalf of the Company, see Note 2. 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 Supreme Court of the State of New York (the “Trial Court”) against the Company relating to anti-dilution provisions in a 2016 warrant agreement (the “2016 Warrant Agreement”) for 166,672 On August 20, 2020, the Trial Court denied the Company’s summary judgment motion as to the first and third claims for relief, but dismissed the second claim for declaratory judgment as moot (the “August 20 Decision”). The Appellate Division First Department denied the Company’s appeal of the August 20 Decision on September 30, 2021. In an event subsequent to September 30, 2021, following a three-day bench trial, the Trial Court issued a decision on October 14, 2021, finding in favor of Empery on the two remaining claims, granting reformation of the Warrant Agreement, and awarding Empery damages in the aggregate amount of approximately $ 5.8 The Company intends to appeal the October 14 decision. Pending appeal, the Company is required to use approximately $ 7.4 million of cash as collateral to secure a supersedeas bond for the full amount of damages and interest in the case that the Company is unsuccessful in its appeal. The Company, in consultation with outside legal counsel, believe that they have several meritorious defenses against the claims, and the decision of the Trial Court. However, the ultimate resolution of the matter on appeal, if unfavorable, could result in losses in excess of the Company’s current estimate which may be material to the financial statements. See Note 7. In addition to Empery, there were 1,139,220 2017 Warrants held by investors who did not participate in the February 2018 financing transaction. Any further adjustments to the 2017 Warrants pursuant to their antidilution provisions may result in additional dilution to the interests of the Company’s stockholders and may adversely affect the market price of the Company’s common stock. The antidilution provisions may also limit the Company’s ability to obtain additional financing on terms favorable to it. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 15 SUBSEQUENT EVENTS The following transactions occurred subsequent to September 30, 2021: - Following a three-day bench trial, the Trial Court issued a decision on October 14, 2021, finding in favor of Empery, awarding Empery damages in the aggregate amount of approximately $ 5.8 million plus prejudgment interest. The Company intends to appeal the October 14 Decision. The Company will use approximately $ 7.4 million of cash as collateral for a supersedeas bond pending the appeal, see Note 14. - During October 2021, the Company amended the Facility agreement to offer the lenders the ability to accept redemption of all amounts outstanding from the first tranche of $ 5.0 November 10, 2021 - On November 4, 2021, the Company announced that Beyond Air, Inc. and Beyond Cancer, Ltd (“Beyond Cancer”) became parties to several intracompany agreement pursuant to which the Company, through its subsidiaries is licensing certain intellectual property and other assets related to, or necessary for the development, commercialization, manufacture and distribution of certain cancer treatment products and/or technologies to a wholly owned subsidiary of the Company (the Transaction). In connection with and concurrently with the closing of the Transaction, Beyond Cancer is issuing and selling common shares, par value $ 1.00 3 10.00 23.9

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions to the Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The accompanying unaudited condensed consolidated balance sheet as of September 30, 2021 has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2021 (the “2021 Annual Report”), was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 10, 2021 and amended on July 23, 2021. The unaudited condensed consolidated financial statements and related disclosures should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the 2021 Annual Report.
Principles of Consolidation	Principles of Consolidation These unaudited condensed consolidated financial statements include the accounts of the Company and the accounts of all of the Company’s subsidiaries. All intercompany balances and transactions have been eliminated in the accompanying financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its significant estimates including accruals for expenses under consulting, licensing agreements, and clinical trials, stock-based compensation, and the determination of deferred tax attributes and the valuation allowance thereon.
Other Risks and Uncertainties	Other Risks and Uncertainties The Company is subject to risks common to medical device and development stage companies including, but not limited to, new technological innovations, regulatory approval, dependence on key personnel, protection of proprietary technology, compliance with government regulations, product liability, uncertainty of market acceptance of products and the potential need to obtain additional financing. The Company is dependent on third-party suppliers and, in some cases single-source suppliers. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 SIGNIFICANT ACCOUNTING POLICIES (continued) The Company’s products require approval or clearance from the FDA prior to commencement of commercial sales in the United States. There can be no assurance that the Company’s products will receive all of the required approvals or clearances. Approvals or clearances are also required in foreign jurisdictions in which the Company may license or sell its products. If the Company is denied such approvals or clearances or such approvals or clearances are delayed, such denial or delay may have a material adverse impact on the Company’s results of operations, financial position and liquidity. Further, there can be no assurance that the Company’s product will be accepted in the marketplace, nor can there be any assurance that any future products can be developed or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products will be successfully marketed, if at all. 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 ® due to the redundancy in parts and suppliers with ventilator manufacturing which has since been remedied. The Company continuously assesses the impact COVID-19 may have on the Company’s business plans and its ability to conduct the preclinical studies and clinical trials as well as on the Company’s reliance on third-party manufacturing and global supply chains. However, there can be no assurance that the Company will be able to avoid part or all of any impact from COVID-19 or its consequences if a resurgence occurs. The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment in a U.S. government money market fund to be cash equivalents. The Company maintains its cash and cash equivalents in highly rated financial institutions in Israel, Ireland and the U.S., the balances of which, at times, may exceed federally insured limits. The Company has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements. As of September 30, 2021 and March 31, 2021, restricted cash included $ 1,019 thousand and $ 619 thousand designated for a contract manufacturer, respectively. This cash is expected to be used for materials and parts that require long lead times. See Note 14 for additional restrictions subsequent to year end. The following table is the reconciliation of the presentation and disclosure of financial instruments as shown on the Company’s consolidated statements of cash flows: SCHEDULE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (amounts in thousands) September 30, 2021 September 30, 2020 Cash and cash equivalents $ 47,699 $ 21,717 Restricted cash 1,047 636 Total $ 48,746 $ 22,353
Revenue Recognition	Revenue Recognition The Company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. To determine revenue recognition for contracts with customers, the Company performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligation(s) in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligation(s) in the contract and (v) recognize revenue when (or as) the Company satisfies the performance obligation(s). At contract inception, the Company assesses the goods or services promised within each contract, assesses whether each promised good or service is distinct and identifies those promised goods or services that are performance obligations. The Company uses judgment to determine (a) the number of performance obligations based on the determination under step (ii) above and whether those performance obligations are distinct from other performance obligations in the contract (b) the transaction price under step (iii) above and (c) the stand-alone selling price for each performance obligation identified in the contract for the allocation of the transaction price in step (iv) above. The Company also uses judgment to determine whether milestones or other variable consideration, except for royalties, should be included in the transaction price. The transaction price is allocated to each performance obligation on an estimated stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under contract are satisfied. Where a portion of non-refundable up-front fees or other payments received are allocated to continuing performance obligations under the terms of a license arrangement, such fees or other payments are recorded as contract liabilities and recognized as revenue when (or as) the underlying performance obligation is satisfied. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 SIGNIFICANT ACCOUNTING POLICIES (continued)
Grant receivable	Grant receivable Under a collaboration arrangement with the Cystic Fibrosis Foundation (“CFF”), grant milestones are achieved subject to certain performance steps and requirements under a development program. Grant milestones are recorded as reimbursements against the applicable portion of the Company’s research and development expenses. Such reimbursements are reflected as a reduction of research and development expenses in the Company’s consolidated statements of operations, as the performance of research and development services for reimbursement is not considered to be an ongoing component or central to the Company’s operations.
Segment Reporting	Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. To date, the Company views its operations and manages its business as one
Research and Development	Research and Development Research and development expenses are charged to the statement of operations as incurred. Research and development expenses include salaries, benefits, stock-based compensation and costs incurred by outside laboratories, manufacturers, clinical research organizations, consultants, and accredited facilities in connection with preclinical studies and clinical trials. Research and development expenses are partially offset by the benefit of tax incentive payments for qualified research and development expenditures from the Australian tax authority (“AU Tax Rebates”). The Company does not record AU Tax Rebates until payment is received due to the uncertainty of receipt. To date, the Company has not received any AU Tax Rebates. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 SIGNIFICANT ACCOUNTING POLICIES (continued)
Foreign Exchange Transactions	Foreign Exchange Transactions The Company’s subsidiaries transact in U.S. dollars, Euros, New Israeli Shekels and Australian dollars. The Company’s main operations are in the United States and the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. The Company translated its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations as of September 30, 2021 and March 31, 2021 were not material. Gains or losses from foreign currency transactions are included in other income (expense) in the statement of operations as foreign currency exchange gain/(loss).
Stock-Based Compensation	Stock-Based Compensation The Company measures the cost of employee and non-employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. Fair value for restricted stock awards is valued using the closing price of the Company’s common stock on the date of grant. The grant date fair value is recognized over the requisite service period during which an employee and non-employee is required to provide service in exchange for the award. The grant date fair value of employee and non-employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. Due to the Company’s limited trading history, the Company utilizes weighting of its historical volatility and the implied volatility based on an aggregate of guideline companies. The Company uses the simplified method to estimate the expected term.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful life of the assets as follows: SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS Computer equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Five or Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset
Licensed Right to Use Technology	Licensed Right to Use Technology Licensed right to use technology that is considered platform technology with alternative future uses is recorded as an intangible asset and is amortized on a straight-line method over its estimated useful life, determined to be thirteen years (see Note 14). The expected amortization expense for the next five years and thereafter is as follows for the year ended March 31 (in thousands): SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE Remainder of 2022 $ 19 2023 38 2024 38 2025 38 2026 38 Thereafter 184 Total $ 356
Long-Lived Assets	Long-Lived Assets The Company assess the impairment of long-lived assets on an ongoing basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors that the Company considers as potential triggers of an impairment review include the following: ● significant underperformance relative to expected historical or projected future operating results, ● significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business, ● significant negative regulatory or economic trends, and ● significant technological changes, which would render the platform technology, equipment, and manufacturing processes obsolete. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 SIGNIFICANT ACCOUNTING POLICIES (continued) Long-Lived Assets Recoverability of assets that will continue to be used in the Company’s operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimates of future costs. There were no events during the reporting periods that were deemed to be a triggering event that would require an impairment assessment.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of September 30, 2021 and March 31, 2021, the Company recorded a valuation allowance to the full extent of the Company’s net deferred tax assets since the likelihood of realization of the benefit does not meet the more-likely-than-not threshold. The Company files U.S. federal, various state, and international income tax returns. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances. Such adjustment is reflected in the tax provision when appropriate .
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic and diluted net loss per share attributable to common stockholders is computed by dividing the net loss and deemed dividend from a warrant modification to common stockholders, if any, by the weighted average number of shares of common stock outstanding for the period. The dilutive effect of outstanding options, warrants, restricted stock and other stock-based compensation awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The calculation of diluted net income (loss) attributed to common stockholders per share excludes all anti-dilutive shares of common stock. For periods in which the Company has reported net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because such shares of common stock are not assumed to have been issued if their effect is anti-dilutive, see Note 9.
New Accounting Standards	New Accounting Standards There are no recently issued accounting standards that have been adopted in the current period or will be adopted in future periods that have had or are expected to have a material impact on the Company’s consolidated financial position or results of operations. BEYOND AIR, INC. AND ITS SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SCHEDULE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	The following table is the reconciliation of the presentation and disclosure of financial instruments as shown on the Company’s consolidated statements of cash flows: SCHEDULE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (amounts in thousands) September 30, 2021 September 30, 2020 Cash and cash equivalents $ 47,699 $ 21,717 Restricted cash 1,047 636 Total $ 48,746 $ 22,353
SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS	Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful life of the assets as follows: SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS Computer equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Five or Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset
SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE	The expected amortization expense for the next five years and thereafter is as follows for the year ended March 31 (in thousands): SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE Remainder of 2022 $ 19 2023 38 2024 38 2025 38 2026 38 Thereafter 184 Total $ 356

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	Property and equipment consist of the following as of September 30, 2021 and March 31, 2021: SCHEDULE OF PROPERTY AND EQUIPMENT (in thousands) September 30, 2021 March 31, 2021 Clinical and medical equipment $ 1,211 $ 1,074 Computer equipment 276 152 Furniture and fixtures 251 133 Leasehold improvements 262 22 2,000 1,381 Accumulated depreciation and amortization (576 ) (453 ) $ 1,424 $ 929

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
SCHEDULE OF CHANGE IN WARRANTS OPTIONS	A summary of the Company’s restricted stock awards for the period ended September 30, 2021 is as follows: SCHEDULE OF CHANGE IN WARRANTS OPTIONS Number Of Shares Weighted Average Grant Date Fair Value Unvested as of April 1, 2021 554,200 5.07 Forfeited (17,000 ) 5.23 Unvested as of September 30, 2021 537,200 $ 5.07
SCHEDULE OF OPTION ACTIVITY	A summary of the Company’s options for the six months ended September 30, 2021, is as follows: SCHEDULE OF OPTION ACTIVITY Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Number Price - Life- Value Of Options Options Options (thousands) Options outstanding as of April 1, 2021 4,195,097 $ 4.91 8.4 $ 2,609 Granted 171,500 8.43 Exercised (10,625 ) 4.69 Forfeited (84,312 ) 5.06 Outstanding as of September 30, 2021 4,271,660 $ 4.98 7.8 $ 26,221 Exercisable as of September 30, 2021 2,042,035 $ 4.47 6.8 $ 13,584
SCHEDULE OF ASSUMPTION OF BLACK-SCHOLES OPTION PRICING MODEL	The following were utilized on the date of the grants: SCHEDULE OF ASSUMPTION OF BLACK-SCHOLES OPTION PRICING MODEL September 30, 2021 September 30, 2020 Risk-free interest rate 0.1 % 0.5 - 0.7 % Expected volatility 90.3 90.5 87.8 92.5 % Dividend yield 0 % 0 % Expected terms (in years) 6.25 5.18 6.25
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE	The following summarizes the components of stock-based compensation expense which include stock options and restricted stock for the three and six months ended September 30, 2021 and September 30, 2020, respectively SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three Months Ended Six Months Ended September 30, September 30, (in thousands) 2021 2020 2021 2020 Research and development $ 379 $ 452 $ 744 $ 1,289 General and administrative 776 728 1,627 1,706 Total stock-based compensation expense $ 1,155 $ 1,180 $ 2,371 $ 2,995
SUMMARY OF COMPANY’S OUTSTANDING WARRANTS	A summary of the Company’s outstanding warrants as of September 30, 2021 is as follows: SUMMARY OF COMPANY’S OUTSTANDING WARRANTS Warrant Holders Number Of Warrants Exercise Price Date of Expiration January 2017 offering – investors 2,561,568 $ 3.66 January 2022 March 2017 offering – investors 68,330 $ 3.66 March 2022 March 2017 offering - placement agent 7,541 $ 3.66 March 2022 Third-party license agreement 208,333 $ 4.80 January 2024 March 2020 loan (see Note 12) 172,187 $ 7.26 March 2025 Total 3,017,959 (a) These warrants have down round protection.

OTHER CURRENT ASSETS AND PREP_2

OTHER CURRENT ASSETS AND PREPAID EXPENSES (Tables)	6 Months Ended
	Sep. 30, 2021
Other Current Assets And Prepaid Expenses
SCHEDULE OF CURRENT ASSETS AND PREPAID EXPENSES	A summary of current assets and prepaid expenses as of September 30, 2021 and March 31, 2021 is as follows: SCHEDULE OF CURRENT ASSETS AND PREPAID EXPENSES (in thousands) September 30, 2021 March 31, 2021 Research and development $ 663 $ 272 Insurance 378 971 Professional 125 - Value added tax receivable 56 41 Other 327 246 Total $ 1,550 $ 1,530

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
SUMMARY OF ACCRUED EXPENSES	A summary of the accrued expenses as of September 30, 2021 and March 31, 2021 is as follows: SUMMARY OF ACCRUED EXPENSES September 30, 2021 March 31, 2021 Research and development $ 700 $ 585 Professional fees 719 709 Employee salaries and benefits 458 270 Other 2,475 242 Total $ 4,352 $ 1,805

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Sep. 30, 2021
Leases
SCHEDULE OF OPERATING LEASE LIABILITY	SCHEDULE OF OPERATING LEASE LIABILITY (in thousands) September 30, 2021 March 31, 2021 Right-of-use assets $ 1,769 $ 1,861 Operating lease liability short-term $ 178 $ 113 Operating lease liability long-term 1,684 1,789 Total $ 1,862 $ 1,903
SCHEDULE OF LEASE OTHER INFORMATION	SCHEDULE OF LEASE OTHER INFORMATION Other Information for the Six Months Ended September 30, 2021 Cash paid for amounts included in the measurement of lease liabilities (thousands): $ 118 Right-of-use assets obtained in exchange for new operating lease liabilities: - Weighted average remaining lease term — operating leases 8.8 Weighted average discount rate — operating leases 8.3 %
SCHEDULE OF MATURITY OF LEASE LIABILITIES	SCHEDULE OF MATURITY OF LEASE LIABILITIES Maturity of Lease Liabilities Operating Leases Payments remaining for the year ended March 31 (in thousands): 2022 $ 148 2023 328 2024 287 2025 277 2026 285 Thereafter 1,329 Total lease payments 2,654 Less: interest (792 ) Present value of lease liabilities $ 1,862

BASIC AND DILUTED NET INCOME _2

BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE (Tables)	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
SCHEDULE OF POTENTIAL ANTI-DILUTIVE SECURITIES	The following potentially dilutive securities were not included in the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: SCHEDULE OF POTENTIAL ANTI-DILUTIVE SECURITIES September 30, 2021 September 30, 2020 Common stock warrants 3,017,959 5,019,854 Common stock options 4,271,660 3,193,249 Restricted stock 537,200 708,800 Total 7,826,819 8,921,903

LONG-TERM LOAN (Tables)

LONG-TERM LOAN (Tables)	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
SCHEDULE OF LONG-TERM LOAN	A summary of the long-term loan balance as of September 30, 2021 and March 31, 2021 is as follows: SCHEDULE OF LONG-TERM LOAN (in thousands) September 30, 2021 March 31, 2021 Face value of loan $ 5,000 $ 5,000 Debt discount (595 ) (595 ) Accretion of debt discount 183 123 Amortization of debt offering costs 22 15 Debt offering costs (71 ) (71 ) Total $ 4,539 $ 4,472
SCHEDULE OF MATURITY OF LONG-TERM LOAN	SCHEDULE OF MATURITY OF LONG-TERM LOAN Maturity of Long-Term Loan (in thousands) September 30, 2021 2022 $ - 2023 500 2024 2,250 2025 2,250 Total $ 5,000

LOAN PAYABLE (Tables)

LOAN PAYABLE (Tables)	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
SCHEDULE OF LOAN PAYABLE	As of September 30, 2021 and March 31, 2021 in connection with the Company’s insurance policy, a loan was used to finance part of the premium. The following details concerning each loan are as follows: SCHEDULE OF LOAN PAYABLE September 30, 2021 March 31, 2021 (in thousands) Amount outstanding $ 140 $ 557 Monthly payments $ 70 $ 70 Number of monthly payments remaining 2 8 Interest rate 3.2 % 3.2 % Due date November 2021 November 2021

ORGANIZATION AND BUSINESS (Deta

ORGANIZATION AND BUSINESS (Details Narrative) - USD ($) $ in Thousands	May 14, 2021	Apr. 02, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Net Cash Provided by (Used in) Operating Activities			$ 5,000	$ (8,898)	$ (8,806)
Retained Earnings (Accumulated Deficit)			95,897	95,897		$ 80,462
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents			$ 48,746	48,746	22,353
Proceeds from Issuance or Sale of Equity		$ 50,000
Remaining for issuance of equity				14,500
Stock Purchase Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Issuance of Common Stock				$ 1,000	$ 3,600
Stock Purchase Agreement [Member] | Lincoln Park Capital Fund, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Issuance of Common Stock	$ 40,000
Purchase agreement, description				$28.2 million remains available as of September 30, 2021. The Stock Purchase Agreement provides for issuances through May 2023 at the Company’s discretion (see Note 5).
Remaining available issuance of common stock				$ 28,200

SCHEDULE OF CASH AND CASH EQUIV

SCHEDULE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 47,699	$ 34,631	$ 21,717
Restricted cash	1,047		636
Total	$ 48,746		$ 22,353

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS (Details)	6 Months Ended
	Sep. 30, 2021
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	7 years
Clinical and Medical Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of assets, description	Five or Fifteen years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of assets, description	Shorter of term of lease or estimated useful life of the asset

SCHEDULE OF FUTURE EXPECTED AMO

SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE (Details)	Mar. 31, 2021USD ($)
Accounting Policies [Abstract]
Remainder of 2022	$ 19
2023	38
2024	38
2025	38
2026	38
Thereafter	184
Total	$ 356

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) $ in Thousands	6 Months Ended
	Sep. 30, 2021USD ($)Number	Mar. 31, 2021USD ($)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Number of Operating Segments | Number	1
Finite-Lived Intangible Asset, Useful Life	13 years
Contract Manufacturer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restricted Cash | $	$ 1,019	$ 619

SCHEDULE OF PROPERTY AND EQUI_2

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,000	$ 1,381
Accumulated depreciation and amortization	(576)	(453)
Property and equipment, net	1,424	929
Clinical and Medical Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,211	1,074
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	276	152
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	251	133
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 262	$ 22

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 65	$ 40	$ 123	$ 74

SCHEDULE OF CHANGE IN WARRANTS

SCHEDULE OF CHANGE IN WARRANTS OPTIONS (Details)	6 Months Ended
	Sep. 30, 2021$ / sharesshares
Equity [Abstract]
Unvested Number of Shares, Beginning balance | shares	554,200
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares	$ 5.07
Number of Shares, Forfeited | shares	(17,000)
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	$ 5.23
Unvested Number of Shares, Ending balance | shares	537,200
Weighted Average Grant Date Fair Value, Ending balance | $ / shares	$ 5.07

SCHEDULE OF OPTION ACTIVITY (De

SCHEDULE OF OPTION ACTIVITY (Details) - Share-based Payment Arrangement [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding at beginning of period	4,195,097
Weighted Average Exercise Price - Options, Outstanding at beginning of period	$ 4.91
Weighted Average Remaining Contractual Life - Options, Outstanding at beginning of period	8 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding at beginning of period	$ 2,609
Number of Options Outstanding, Granted	171,500
Weighted Average Exercise Price - Options, Granted	$ 8.43
Number of Options Outstanding, Exercised	(10,625)
Weighted Average Exercise Price - Options, Exercised	$ 4.69
Number of Options Outstanding, Forfeited	(84,312)
Weighted Average Exercise Price - Options, Forfeited	$ 5.06
Number of Options, Outstanding at ending of period	4,271,660
Weighted Average Exercise Price - Options, Outstanding at ending of period	$ 4.98
Weighted Average Remaining Contractual Life - Options, Outstanding at end of period	7 years 9 months 18 days
Aggregate Intrinsic Value, Outstanding at end of period	$ 26,221
Number of Options Outstanding, Exercisable	2,042,035
Weighted Average Exercise Price - Options, Exercisable	$ 4.47
Weighted Average Remaining Contractual Life - Options, Exercisable	6 years 9 months 18 days
Aggregate Intrinsic Value, Exercisable	$ 13,584

SCHEDULE OF ASSUMPTION OF BLACK

SCHEDULE OF ASSUMPTION OF BLACK-SCHOLES OPTION PRICING MODEL (Details)	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Risk-free interest rate	0.10%
Dividend yield	0.00%	0.00%
Expected term (in years)	6 years 3 months
Maximum [Member]
Risk-free interest rate		0.50%
Expected volatility	90.50%	92.50%
Expected term (in years)		6 years 3 months
Minimum [Member]
Risk-free interest rate		0.70%
Expected volatility	90.30%	87.80%
Expected term (in years)		5 years 2 months 4 days

SCHEDULE OF STOCK-BASED COMPENS

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total stock-based compensation expense	$ 1,155	$ 1,180	$ 2,371	$ 2,995
Research and Development [Member]
Total stock-based compensation expense	379	452	744	1,289
General and Administrative [Member]
Total stock-based compensation expense	$ 776	$ 728	$ 1,627	$ 1,706

SUMMARY OF COMPANY_S OUTSTANDIN

SUMMARY OF COMPANY’S OUTSTANDING WARRANTS (Details)	6 Months Ended
	Sep. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants	3,017,959
Third Party License Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants	208,333
Exercise Price | $ / shares	$ 4.80
Date of Expiration	January 2024
January 2017 [Member] | Investor [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants	2,561,568
Exercise Price | $ / shares	$ 3.66
Date of Expiration	January 2022	[1]
March 2017 [Member] | Investor [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants	68,330
Exercise Price | $ / shares	$ 3.66
Date of Expiration	March 2022	[1]
March 2017 [Member] | Placement Agent [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants	7,541
Exercise Price | $ / shares	$ 3.66
Date of Expiration	March 2022	[1]
March 2020 [Member] | Loan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants	172,187
Exercise Price | $ / shares	$ 7.26
Date of Expiration	March 2025
[1]	These warrants have down round protection.

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	May 14, 2020	Apr. 02, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense			$ 1,155	$ 1,180	$ 2,371	$ 2,995
Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted					75,000
2013 Incentive Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					4 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights					The vesting terms of the options issued under the 2013 Plan are generally four years and expire in ten years from the grant date.
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			5,600,000		5,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			520,011		520,011
2021 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant							0
Common Stock, Capital Shares Reserved for Future Issuance							750,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense			$ 161	$ 377	$ 319	$ 771
Restricted Stock Units (RSUs) [Member] | Officers, Employees and Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					5 years
Unvested Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount			$ 5,200		$ 5,200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term					2 years 4 months 24 days
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price					$ 7.92	$ 5.13
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised			415,664	83,332	271,811	153,870
Proceeds from Warrant Exercises			$ 305		$ 598
At-The-Market Equity Offering [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, consideration received on transaction		$ 50,000
Proceeds from issuance of common stock			$ 15,000	$ 1,500	$ 22,400	$ 2,400
Sale of stock, number of shares issued in transaction			1,659,664	227,527	2,899,069	341,239
Shares available under agreement, value					$ 14,500
Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from issuance of common stock					$ 1,000	$ 3,600
Sale of stock, number of shares issued in transaction					200,000	568,605
Shares available under agreement, value					$ 28,200
Sale of stock, price per share	$ 0.25
Stock Purchase Agreement [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, consideration received on transaction	$ 40,000

SCHEDULE OF CURRENT ASSETS AND

SCHEDULE OF CURRENT ASSETS AND PREPAID EXPENSES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Total	$ 1,550	$ 1,530
Research and Development [Member]
Total	663	272
Insurance [Member]
Total	378	971
Professional [Member]
Total	125
Value added tax receivable [Member]
Total	56	41
Other [Member]
Total	$ 327	$ 246

SUMMARY OF ACCRUED EXPENSES (De

SUMMARY OF ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Payables and Accruals [Abstract]
Research and development	$ 700	$ 585
Professional fees	719	709
Employee salaries and benefits	458	270
Other	2,475	242
Total	$ 4,352	$ 1,805

ACCRUED EXPENSES (Details Narra

ACCRUED EXPENSES (Details Narrative) $ in Millions	Sep. 30, 2021USD ($)
Payables and Accruals [Abstract]
Asset Acquisition, Contingent Consideration, Liability, Current	$ 2.4

SCHEDULE OF OPERATING LEASE LIA

SCHEDULE OF OPERATING LEASE LIABILITY (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Leases
Right-of-use assets	$ 1,769	$ 1,861
Operating lease liability short-term	178	113
Operating lease liability long-term	1,684	1,789
Total	$ 1,862	$ 1,903

SCHEDULE OF LEASE OTHER INFORMA

SCHEDULE OF LEASE OTHER INFORMATION (Details)	6 Months Ended
	Sep. 30, 2021USD ($)
Leases
Cash paid	$ 118
Weighted-average remaining lease term - operating leases	8 years 9 months 18 days
Weighted-average discount rate - operating leases	8.30%

SCHEDULE OF MATURITY OF LEASE L

SCHEDULE OF MATURITY OF LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Leases
2022	$ 148
2023	328
2024	287
2025	277
2026	285
Thereafter	1,329
Total lease payments	2,654
Less: interest	(792)
Present value of lease liabilities	$ 1,862	$ 1,903

SCHEDULE OF POTENTIAL ANTI-DILU

SCHEDULE OF POTENTIAL ANTI-DILUTIVE SECURITIES (Details) - shares	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	7,826,819	8,921,903
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,017,959	5,019,854
Common Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,271,660	3,193,249
Restricted Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	537,200	708,800

LICENSE AGREEMENT (Details Narr

LICENSE AGREEMENT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue from contract with customer		$ 350,000		$ 579,000
License Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue from contract with customer	$ 0	$ 350,000	$ 0	$ 579,000

GRANT COLLABORATON AGREEMENT (D

GRANT COLLABORATON AGREEMENT (Details Narrative) - USD ($) $ in Thousands	Feb. 10, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Product Information [Line Items]
Research and Development Expense		$ 2,807	$ 3,147	$ 5,548	$ 7,479
Cystic Fibrosis Foundation [Member]
Product Information [Line Items]
Grants Receivable	$ 2,170
Reduction of research and development expenses		207		207
Research and Development Expense		$ 432		$ 432
Cystic Fibrosis Foundation [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration Risk, Percentage	10.00%

SCHEDULE OF LONG-TERM LOAN (Det

SCHEDULE OF LONG-TERM LOAN (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Debt Disclosure [Abstract]
Face value of loan	$ 5,000	$ 5,000
Debt discount	(595)	(595)
Accretion of debt discount	183	123
Amortization of debt offering costs	22	15
Debt offering costs	(71)	(71)
Total	$ 4,539	$ 4,472

SCHEDULE OF MATURITY OF LONG-TE

SCHEDULE OF MATURITY OF LONG-TERM LOAN (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
2022
2023	500
2024	2,250
2025	2,250
Total	$ 5,000

SCHEDULE OF LOAN PAYABLE (Detai

SCHEDULE OF LOAN PAYABLE (Details) Number in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)Number	Mar. 31, 2021USD ($)Number
Debt Disclosure [Abstract]
Amount outstanding	$ 140	$ 557
Monthly payments	$ 70	$ 70
Number of monthly payments remaining | Number	2	8
Debt interest rate	3.20%	3.20%
Due date	November 2021	November 2021

LONG-TERM LOAN (Details Narrati

LONG-TERM LOAN (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Mar. 17, 2020	Oct. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Loans Payable			$ 140		$ 140		$ 557
Debt Instrument, Interest Rate, Stated Percentage			3.20%		3.20%		3.20%
Interest Expense			$ 161	$ 159	$ 323	$ 322
Lenders [Member] | Facility Agreement [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	10.00%
Debt Instrument, Maturity Date, Description	Each tranche shall be repaid in installments commencing on June 15, 2023 with all amounts outstanding under any tranche due on March 17, 2025.
Proceeds from Loans					3,160
Interest Expense					$ 158	$ 158
Lenders [Member] | Facility Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt maturity date		Nov. 10, 2021
Lenders [Member] | Facility Agreement [Member] | Warrant [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights								172,826
Class of Warrant or Right, Exercise Price of Warrants or Rights								$ 7.26
Warrants and Rights Outstanding, Term			5 years		5 years
Fair Value Adjustment of Warrants					$ 595
Lenders [Member] | Facility Agreement [Member] | One Tranche [Member]
Debt Instrument [Line Items]
Loans Payable	$ 5,000
Lenders [Member] | Facility Agreement [Member] | One Tranche [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Loans Payable		$ 5,000
Lenders [Member] | Facility Agreement [Member] | Five Tranches [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	13.30%
Lenders [Member] | Facility Agreement [Member] | Second Tranche [Member]
Debt Instrument [Line Items]
Loans Payable	$ 5,000
Warrants description	the warrants that will be issued are up to 25% of their commitment value divided by the five-day volume-weighted average price (“VWAP”) prior to the utilization date. If any of tranches three to five are utilized by the Company, the warrants that will be issued are up to 10% of their commitment value divided by the five-day VWAP.
Maximum [Member] | Lenders [Member] | Facility Agreement [Member]
Debt Instrument [Line Items]
Loans Payable	$ 25,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) $ in Thousands	Oct. 14, 2021USD ($)	May 25, 2021USD ($)	Jan. 31, 2018USD ($)shares	Jan. 13, 2017USD ($)	Oct. 22, 2013USD ($)	Sep. 30, 2021USD ($)	Mar. 31, 2021shares	Mar. 16, 2018shares
Loss Contingencies [Line Items]
Litigation settlement amount		$ 10,500
Loss contingency payments		6,000
Outstanding Amount Under Purchase						$ 1,000
Subsequent Event [Member]
Loss Contingencies [Line Items]
Damages sought value	$ 5,800
Collateral amount	$ 7,400
Warrant [Member]
Loss Contingencies [Line Items]
Warrants issued | shares								166,672
Settled Litigation One [Member]
Loss Contingencies [Line Items]
Litigation settlement amount		2,500
Nitric Gen Inc [Member]
Loss Contingencies [Line Items]
Revenue recognition milestone payment			$ 2,000
Circassia Limited [Member] | Settled Litigation One [Member]
Loss Contingencies [Line Items]
Litigation settlement amount		3,500
Circassia Limited [Member] | Settled Litigation Two [Member]
Loss Contingencies [Line Items]
Litigation settlement amount		$ 4,500
Empery Asset Master, Ltd [Member] | 2017 Warrants [Member]
Loss Contingencies [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares							1,139,220
Option Agreement [Member]
Loss Contingencies [Line Items]
Payments for development and milestone payment				$ 500
Milestone payments				87,000
Sales related milestones payments				$ 83,000
Tranche B Warrants [Member]
Loss Contingencies [Line Items]
Revenue recognition milestone payment			1,800
Tranche B Warrants [Member] | Tranche B Warrants [Member]
Loss Contingencies [Line Items]
Revenue recognition milestone payment			1,500
Tranche B Warrants [Member] | Nitric Gen Inc [Member]
Loss Contingencies [Line Items]
Payments for Royalties			$ 100
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares			100,000
Options to purchase common stock, value.			$ 295
CareFusion [Member] | Patent License Agreement [Member]
Loss Contingencies [Line Items]
[custom:NonrefundableUpfrontFee]					$ 150
[custom:RoyaltyPercentage]					0.05
Payments for Royalties					$ 50
Supplier [Member]
Loss Contingencies [Line Items]
Outstanding Amount Under Purchase						$ 1,100

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Nov. 04, 2021	Oct. 14, 2021	Oct. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Mar. 17, 2020
Subsequent Event [Line Items]
Loans Payable				$ 140	$ 557
Common Stock, par value				$ 0.0001	$ 0.0001
Facility Agreement [Member] | Lenders [Member] | One Tranche [Member]
Subsequent Event [Line Items]
Loans Payable						$ 5,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Loss Contingency, Damages Sought, Value		$ 5,800
Collateral amount		$ 7,400
Sale of stock transaction, description	In connection with and concurrently with the closing of the Transaction, Beyond Cancer is issuing and selling common shares, par value $1.00 to certain investors pursuant to a subscription agreement (the Offering). The offering consists of up to an aggregate of 3 million common shares of Beyond Cancer, Ltd. at a purchase price of $10.00 per share. The Transaction and the Offering are expected to close in December, 2021. Funds committed to the financial statement release date approximated $23.9 million.
Common Stock, par value	$ 1
Common stock, shares issued	3
Shares issued price per share	$ 10
Received on transaction value	$ 23,900
Subsequent Event [Member] | Facility Agreement [Member] | Lenders [Member]
Subsequent Event [Line Items]
Debt Instrument, Maturity Date			Nov. 10, 2021
Subsequent Event [Member] | Facility Agreement [Member] | Lenders [Member] | One Tranche [Member]
Subsequent Event [Line Items]
Loans Payable			$ 5,000