VCAP

Beyond Air® Reports Financial Results for Third Quarter of Fiscal Year 2024

Retrieved on: 
Monday, February 12, 2024

“In the third quarter of fiscal year 2024, we reported solid sequential revenue growth of more than 60% compared with the second quarter.

Key Points: 
  • “In the third quarter of fiscal year 2024, we reported solid sequential revenue growth of more than 60% compared with the second quarter.
  • This increasing demand for our current LungFit PH system was seen even as we prepared to launch a key software update.
  • As our inventory of upgraded LungFit PH grows, we expect to be able to meet accelerating demand over the next several quarters.
  • General and administrative expenses for the three months ended December 31, 2023 and December 31, 2022 were $9.8 million and $8.9 million, respectively.

Next-Generation Family of Ethernet Switches Features Time Sensitive Networking and Scalable Port Bandwidths from 46 Gbps to 102 Gbps

Retrieved on: 
Tuesday, January 16, 2024

To provide designers with a reliable and robust network solution with deterministic communication, Microchip Technology (Nasdaq: MCHP) today announces its next-generation of LAN969x Ethernet switches with Time Sensitive Networking (TSN), scalable bandwidths from 46 Gbps to 102 Gbps and a powerful 1 GHz single-core Arm® Cortex®-A53 CPU.

Key Points: 
  • To provide designers with a reliable and robust network solution with deterministic communication, Microchip Technology (Nasdaq: MCHP) today announces its next-generation of LAN969x Ethernet switches with Time Sensitive Networking (TSN), scalable bandwidths from 46 Gbps to 102 Gbps and a powerful 1 GHz single-core Arm® Cortex®-A53 CPU.
  • For applications that require greater redundancy, the LAN969x Ethernet switches can be configured with High-availability Seamless Redundancy (HSR) and Parallel Redundancy Protocol (PRP).
  • “Prior to the introduction of Microchip’s LAN969x Ethernet switches, customers who wanted to implement TSN and HSR/PRP features required multiple ICs.
  • The new family of LAN969x mid-range Ethernet switches rounds out Microchip’s portfolio of TSN switches.

Beyond Air® Reports Financial Results for Second Quarter of Fiscal Year 2024

Retrieved on: 
Monday, November 13, 2023

“Market confidence in our superior LungFit PH technology continues to grow along with our market penetration and opportunities.

Key Points: 
  • “Market confidence in our superior LungFit PH technology continues to grow along with our market penetration and opportunities.
  • I am proud of our progress and want to thank our customers who gave us the opportunity to succeed over the past year.
  • Aside from these one-time payments, cash burn in the quarter was $10.1 million which is in line with our guidance of approximately $10 million per quarter.
  • As of September 30, 2023, the Company had cash, restricted cash, cash equivalents and marketable securities of $43.9 million.

Beyond Air® Reports Financial Results for First Quarter of Fiscal Year 2024

Retrieved on: 
Thursday, August 10, 2023

“We concluded the first quarter of our fiscal year 2024 with LungFit PH adopted as the nitric oxide system of choice at several hospitals in the United States.

Key Points: 
  • “We concluded the first quarter of our fiscal year 2024 with LungFit PH adopted as the nitric oxide system of choice at several hospitals in the United States.
  • Our commercial team has implemented training programs and support at each of these hospitals, and report that LungFit PH has been well received.
  • General and administrative expenses for the three months ended June 30, 2023 and June 30, 2022 were $10.9 million and $8.2 million, respectively.
  • As of June 30, 2023, the Company had cash, cash equivalents and marketable securities of $57.0 million and $2.7 million in restricted cash.

Beyond Air® Reports Financial Results for Fourth Quarter and Fiscal Year-End 2023

Retrieved on: 
Thursday, June 22, 2023

Selling, general and administrative expenses for the fiscal year ended March 31, 2023, increased to $34.7 million, compared with $18.4 million for the fiscal year ended March 31, 2022.

Key Points: 
  • Selling, general and administrative expenses for the fiscal year ended March 31, 2023, increased to $34.7 million, compared with $18.4 million for the fiscal year ended March 31, 2022.
  • As a reminder, the Company paid $2.5 million to Circassia in the 2nd fiscal quarter of 2023, we have another $3.5 million to pay in the 2nd fiscal quarter of 2024 with the final $4.5 million not due until the 2nd quarter of fiscal 2025.
  • Other income and expense was a $7.3 million loss for the fiscal year ended March 31, 2023, compared with a $3.4 million loss for the fiscal year ended March 31, 2022.
  • The increase of $3.9 million was primarily due to a non-product related legal matter that was resolved in the fourth fiscal quarter of 2023.

Beyond Air® Reports Financial Results for the Third Quarter of Fiscal Year 2023

Retrieved on: 
Thursday, February 9, 2023

GARDEN CITY, N.Y., Feb. 09, 2023 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR) (“Beyond Air” or the “Company”) a commercial stage medical device and biopharmaceutical company focused on developing inhaled nitric oxide (NO) for the treatment of patients with respiratory conditions, including serious lung infections and pulmonary hypertension, and, through its affiliate Beyond Cancer, Ltd., ultra-high concentration nitric oxide (UNO) for the treatment of solid tumors, today announced financial results for its third fiscal quarter ended December 31, 2022.

Key Points: 
  • “We are successfully executing on our planned limited launch of LungFit PH in the United States.
  • General and administrative expenses for the fiscal quarter ended December 31, 2022 increased to $8.9 million, compared with $4.9 million for the fiscal quarter ended December 31, 2021.
  • As of December 31, 2022, the Company reported cash and cash equivalents, marketable securities, and restricted cash of $63.2 million.
  • Through the first nine months of the Company’s fiscal year 2023, total cash burn was $27.0 million which includes $2.5 million in non-recurring expense.

Beyond Air® Announces that Annals of the American Thoracic Society Published a Review of the Third Pilot Study of High Dose Nitric Oxide for Bronchiolitis

Retrieved on: 
Monday, October 3, 2022

The manuscript in the Annals of the American Thoracic Society is available at (https://doi.org/10.1513/AnnalsATS.202103-348OC).

Key Points: 
  • The manuscript in the Annals of the American Thoracic Society is available at (https://doi.org/10.1513/AnnalsATS.202103-348OC).
  • This multicenter, double-blind, randomized-controlled study enrolled 89 patients under the age of 12 months who were hospitalized with moderate-severe bronchiolitis.
  • The patients were randomized equally across three arms: standard supportive therapy (SST); 85 ppm NO + SST and 150 ppm NO + SST.
  • The primary endpoint was time to fit-to-discharge (FTD), a composite of the modified TAL score and sustained oxygen saturation on room air.

Embroker Expands Suite of Product Lines Available by Vertical Markets, Deepens Specific Industry Expertise

Retrieved on: 
Tuesday, September 20, 2022

Because of the evolving federal laws surrounding cannabis, insurers and brokers have been reluctant to target their services toward dispensaries.

Key Points: 
  • Because of the evolving federal laws surrounding cannabis, insurers and brokers have been reluctant to target their services toward dispensaries.
  • Our new scalable dispensary product is one example of how Embroker is providing targeted insurance products tailored to specific vertical markets, continued Jennings.
  • Embroker has deep expertise in the startup space and is now further extending that into its offerings.
  • With a Net Promoter Score (NPS) of 70+, Embroker is also the highest rated business insurance company in the market.