Beyond Air Reports Financial Results for Fiscal First Quarter 2020 Began trading under new ticker symbol, XAIR, on the NASDAQ stock exchange on

Air Reports Financial Results for Fiscal First Quarter 2020

trading under new ticker symbol, XAIR, on the NASDAQ stock exchange on July 15, 2019

submitting a PMA for LungFit * for the treatment of persistent pulmonary hypertension of the newborn (PPHN) in the third

quarter of calendar 2019

receiving CE Mark for LungFit * in the first half of calendar 2020 for PPHN and pulmonary hypertension associated with cardiac

Call scheduled for today, Wednesday, August 14th at 4:30 pm Eastern Time

CITY, N.Y. and REHOVOT, Israel, Aug. 14, 2019 (GLOBE NEWSWIRE) - Beyond Air, Inc. (NASDAQ: XAIR), a clinical-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, today announced financial results for its fiscal first

quarter ended June 30, 2019.

continue to make steady progress towards achieving our goal of submitting our Premarket Approval (PMA) for the LungFit PH system

in this current quarter," said Steve Lisi, Chairman and Chief Executive Officer of Beyond Air. "With the completion

of a PIPE transaction last June, we have the financial resources to execute and achieve our goals over the next 14 months. This

includes gaining FDA approval and CE Mark for our LungFit PH system; completing a pilot study in bronchiolitis; and initiating

an at-home study in patients suffering from NTM lung infection. I am confident in our ability to execute on all three of our programs

as the Beyond Air team has done an exceptional job over the past 2 years."

results for three months ended June 30, 2019

for the three months ended June 30, 2019 was $0.6 million, all of which is licensing revenue. No revenue was generated in the

same three-month period of 2018.

and development expenses for the three months ended June 30, 2019 were $2.3 million, compared to $1.1 million in the same three-month

and administrative expenses for the three months ended June 30, 2019 were $2.3 million, compared to $0.7 million for the same

three-month period of 2018.

the three months ended June 30, 2019, the Company had a net loss of $6.2 million, or $0.67 per share, compared to a net loss of

$1.7 million, or $0.20 per share in the same three-month period of 2018.

on hand is sufficient to fund operations through September 2020 exclusive of any milestones from the Circassia partnership, warrant

excercises, proceeds from the potential sale of equity under the line of credit in place, or any compensation from potential future

Air, Inc. is a clinical-stage medical device and biopharmaceutical company developing a revolutionary NO Generator and Delivery

System that uses NO generated from ambient air and delivers precise amounts of NO to the lungs for the potential treatment of

respiratory and other diseases. The Beyond Air NO Delivery System can generate up to 400 ppm of NO for delivery either continuously

or for a fixed amount of time and has the ability to either titrate dose on demand or maintain a constant dose. The Company is

currently applying its therapeutic expertise to develop treatments for pulmonary hypertension in various settings, in addition

to treatments for lower respiratory tract infections that are not effectively addressed with current standards of care. Beyond

Air is currently advancing its revolutionary NO Generator and Delivery System in clinical trials for the treatment of bronchiolitis

and severe lung infections such as nontuberculous mycobacteria (NTM). For more information, visit www.beyondair.net.

is expected to be the final commercial name of our NO Generator and Delivery System.

Oxide (NO) is a powerful molecule proven to play a critical role in a broad array of biological functions. In the airways, NO

targets the vascular smooth muscle cells that surround the small resistance arteries in the lungs and is used in adult respiratory

distress syndrome and persistent pulmonary hypertension of the neonate. Additionally, NO is believed to play a key role in the

innate immune system and in vitro studies suggest that NO possesses anti-microbial activity not only against common bacteria,

including both gram-positive and gram-negative, but also against other diverse organisms, including mycobacteria, fungi, yeast

and parasites, and has the potential to eliminate multi-drug resistant strains.

pulmonary hypertension of the newborn (PPHN) is a lethal condition and a 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 (EMO) 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.

Air's LungFit NO Generator and Delivery System is a cylinder-free, phasic flow nitric oxide 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 part per million (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. The LungFit can also deliver NO at concentrations above 80 ppm for which

intended treatments are: bronchiolitis in the hospital setting, and chronic, refractory lung infections in the home setting. For

the first time, Beyond Air intends to offer NO treatment in the home setting with the elimination of cylinders.

Beyond Air's LungFit is not approved for commercial use and Beyond Air is not suggesting use over 80 ppm or use at home.

The LungFit is for investigational purposes only.

majority of hospital admissions of infants with bronchiolitis are caused by respiratory syncytial virus (RSV). RSV is a common

and highly transmissible virus that infects the respiratory tract of most children before their second birthday. While most infants

with RSV present with minor respiratory symptoms, a small percentage develop serious lower airway infections, termed bronchiolitis,

which can become life-threatening. The absence of treatment options for bronchiolitis limits the care of these sick infants to

largely supportive measures. Beyond Air's system is designed to effectively deliver over 80 ppm NO, which preliminary studies

indicate may eliminate bacteria, viruses, fungi and other microbes from the lungs.

mycobacteria (NTM) is a rare and serious bacterial infection in the lungs causing debilitating pulmonary disease associated with

increased morbidity and mortality. NTM infection is acquired by breathing in aerosolized bacteria from the environment, and if

ignored can lead to NTM lung disease, a progressive and chronic condition. NTM is an emerging public health concern worldwide

because of its multi-drug antibiotic resistance. Current treatment guidelines suggest a combination of multiple antibiotics delivered

continually for as long as two years. These complex, expensive and invasive regimens have a poor record in the treatment of Mycobacterium

abscessus complex (MABSC) and refractory Mycobacterium avium complex (MAC) and have the potential for causing severe

adverse events. Beyond Air's system is designed to effectively deliver 160 - 400 ppm NO to the lung, and early data indicate

that this range of NO concentration may have a positive effect on patients infected with NTM.

press release contains "forward-looking statements." Forward-looking statements include statements about our expectations,

beliefs, or intentions regarding our product offerings, business, financial condition, results of operations, strategies or prospects.

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

"plans," "projects," "believes," "estimates," "likely," "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 our 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 our views as of the date they are made with respect to future events and financial performance.

Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in

forward-looking statements, including risks related to: our approach to discover and develop novel drugs, which is unproven and

may never lead to marketable products; our ability to fund and the results of further pre-clinical and clinical trials; obtaining,

maintaining and protecting intellectual property utilized by our products; our ability to enforce our patents against infringers

and to defend our patent portfolio against challenges from third parties; our ability to obtain additional funding to support

our business activities; our dependence on third parties for development, manufacture, marketing, sales, and distribution of products;

the successful development of our product candidates, all of which are in early stages of development; obtaining regulatory approval

for products; competition from others using technology similar to ours and others developing products for similar uses; our dependence

on collaborators; and our short operating history. We undertake no obligation to update, and we do not have a policy of updating

or revising, these forward-looking statements, except as required by applicable law.

Lisi, Chief Executive Officer

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