Beyond Air Granted 180-Day Extension by Nasdaq to Regain Compliance with Minimum Bid Requirement Garden City, NY

Beyond Air Granted 180-Day Extension by

Nasdaq to Regain Compliance with Minimum Bid Requirement

Garden City, NY, February 5, 2025 -

Beyond Air, Inc. (NASDAQ: XAIR) ("Beyond Air" or the "Company"), a commercial stage medical device and biopharmaceutical

company focused on harnessing the power of nitric oxide (NO) to improve the lives of patients, today announced it received a notification

from The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company has been granted an additional 180-day compliance period,

or until August 4, 2025 to regain compliance with Nasdaq's minimum bid price rule (Rule 5550(a)(2)). The notification has no immediate

effect on the listing of the Company's common stock, and the common stock will continue to trade on the Nasdaq Capital Market under

Nasdaq's determination is based on the Company

meeting all other applicable requirements for listing on the Nasdaq Capital Market, with the exception of the bid price requirement, and

the Company's written notice of its intention to cure the deficiency during the second compliance period and, if necessary, by effecting

a reverse share split.

In a notification letter dated August 8, 2024,

Nasdaq had first informed the Company that, based on the previous 30 consecutive business days, the Company's common stock no longer

met the minimum $1.00 bid price per share requirement and in accordance with Nasdaq's Listing Rules, the Company was provided 180

calendar days, or until February 4, 2025, to regain compliance. The Company did not regain compliance with the minimum $1.00 bid price

per share requirement during the first 180 calendar day compliance period and submitted a written request to Nasdaq's staff to afford

the Company an additional 180-day compliance period to cure the deficiency, which the Company was granted in a notification letter dated

If at any time before August 4, 2025, the closing

bid price of the Company's security is at least $1.00 per share for a minimum of 10 consecutive business days, the Company will

regain compliance with this Nasdaq rule and this matter will be closed. However, Nasdaq may, in its discretion, require the Company to

maintain a bid price of at least $1.00 per share for a period in excess of ten consecutive business days, but generally no more than 20

consecutive business days, before determining that the Company has demonstrated an ability to maintain long-term compliance.

About Beyond Air , Inc.

Beyond Air is a commercial stage medical device

and biopharmaceutical company dedicated to harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of

patients suffering from respiratory illnesses, neurological disorders, and solid tumors. The Company has received FDA approval for its

first system, LungFit PH, for the treatment of term and near-term neonates with hypoxic respiratory failure. Beyond Air is currently

advancing its other revolutionary LungFit systems in clinical trials for the treatment of severe lung infections such as viral community-acquired

pneumonia (including COVID-19), and nontuberculous mycobacteria (NTM) among others. Also, the Company has also partnered with The Hebrew

University of Jerusalem to advance a pre-clinical program dedicated to the treatment of autism spectrum disorder (ASD) and other neurological

disorders. Additionally, Beyond Cancer, Ltd., an affiliate of Beyond Air, is investigating ultra-high concentrations of NO with a proprietary

delivery system to target certain solid tumors in the pre-clinical setting. For more information, visit www.beyondair.net.

Beyond Air's LungFit is a cylinder-free,

phasic flow generator and delivery system and has been designated as a medical device by the U.S. Food and Drug Administration (FDA).

The ventilator compatible version of the device can generate NO from ambient air on demand for delivery to the lungs at concentrations

ranging from 1 ppm to 80 ppm. The LungFit system could potentially replace large, high-pressure NO cylinders providing significant advantages

in the hospital setting, including greatly reducing inventory and storage requirements, improving overall safety with the elimination

of NO2 purging steps, and other benefits. LungFit can also deliver NO at concentrations at or above 80 ppm for potentially treating severe

acute lung infections in the hospital setting (e.g. COVID-19, bronchiolitis) and chronic, refractory lung infections in the home

setting (e.g. NTM). With the elimination of cylinders, Beyond Air intends to offer NO treatment in the home setting.

LungFit PH is approved for commercial use in the United States of America, European Union, Australia and New Zealand. Beyond Air's

other LungFit systems are not approved for commercial use and are for investigational use only. Beyond Air is not suggesting NO use over

80 ppm or use at home.

Persistent pulmonary hypertension of the newborn

(PPHN) is a lethal condition and secondary to failure of normal circulatory transition at birth. It is a syndrome characterized by elevated

pulmonary vascular resistance (PVR) that causes labile hypoxemia due to decreased pulmonary blood flow and right-to-left shunting of blood.

Its incidence has been reported as 1.9 per 1000 live births (0.4-6.8/1000 live births) with mortality rate ranging between 4-33%.

This syndrome complicates the course of about 10% of infants with respiratory failure and remains a source of considerable morbidity and

mortality. NO gas is a vasodilator, is approved in dozens of countries to improve oxygenation and reduces the need for extracorporeal

membrane oxygenation (ECMO) in term and near-term (>34 weeks gestation) neonates with hypoxic respiratory failure associated with clinical

or echocardiographic evidence of pulmonary hypertension in conjunction with ventilator support and other appropriate agents.

About Beyond Cancer, Ltd.

Beyond Cancer, Ltd., an affiliate of Beyond Air,

Inc., is a development-stage biopharmaceutical and medical device company utilizing (UNO via a proprietary delivery platform to treat

primary tumors and prevent metastatic disease. Nitric oxide at ultra-high concentrations has been reported to show anticancer properties

and to potentially serve as a chemosensitizer and radiotherapy enhancer. A first-in-human study is underway in patients with solid tumors.

The Company is conducting preclinical studies of UNO in multiple solid tumor models to inform additional treatment protocols.

For more information, visit www.beyondcancer.com.

Forward Looking Statements

This press release contains "forward-looking

statements" concerning the potential safety and efficacy of inhaled nitric oxide and the ultra-high concentration nitric oxide product

candidate, as well as its therapeutic potential in a number of indications; and the potential impact on patients and anticipated benefits

associated with inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate. Forward-looking statements include

statements about expectations, beliefs, or intentions regarding product offerings, business, results of operations, strategies or prospects.

You can identify such forward-looking statements by the words "appears," "expects," "plans," "anticipates,"

"believes" "expects," "intends," "looks," "projects," "goal,"

"assumes," "targets" and similar expressions and/or the use of future tense or conditional constructions (such

as "will," "may," "could," "should" and the like) and by the fact that these statements

do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events,

activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred,

these statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from any future

results expressed or implied by the forward-looking statements. These forward-looking statements are only predictions and reflect views

as of the date they are made with respect to future events and financial performance. Many factors could cause actual activities or results

to differ materially from the activities and results anticipated in forward-looking statements, including risks related to the ability

to raise additional capital; the timing and results of future pre-clinical studies and clinical trials; the potential that regulatory

authorities, including the FDA and comparable non-U.S. regulatory authorities, may not grant or may delay approval for our product candidates;

the approach to discover and develop novel drugs, which is unproven and may never lead to efficacious or marketable products; the ability

to fund and the results of further pre-clinical studies and clinical trials of our product candidates; obtaining, maintaining and protecting

intellectual property utilized by products; obtaining regulatory approval for products; competition from others using similar technology

and others developing products for similar uses; dependence on collaborators; and other risks, which may, in part, be identified and described

in the "Risk Factors" section of Beyond Air's most recent Annual Report on Form 10-K and other of its filings with the

Securities and Exchange Commission, all of which are available on Beyond Air's website. Beyond Air and Beyond Cancer undertake no

obligation to update, and have no policy of updating or revising, these forward-looking statements, except as required by applicable law.

Investor Relations contacts

LifeSci Advisors, LLC