Hot Move to Watch: Beyond Air Inc (NASDAQ: XAIR)

On 22 Oct 2019, Beyond Air Inc (NASDAQ: XAIR) started its trading session with the price $4.5 and closed at price of $4.17 by scoring -6.71%. Day range of the stock was $4.17 – $4.5. XAIR stock traded with total volume of 15,567 shares while the average trading capacity remained 15527 shares.  Earnings per share was $-0.77. XAIR has total market capitalization of $44798310.

Beyond Air, Inc. (XAIR) recently reported the successful completion of a 30-day rat toxicology study and provided an update on its 12-week toxicology studies in both rats and dogs. All administrations in the studies were done with LungFit™, the company’s proprietary cylinder-free, phasic flow NO generator and delivery system.

In both the 30-day rat study and the 12-week rat and dog studies, animals were dosed intermittently, multiple times per day with animals in the 30-day study receiving NO doses of up to 400 ppm. Results from the 30-day study demonstrated clean safety results with no unpredictable findings. The 12-week rat study completed earlier this month, and the 12-week dog study is in week 8 with animals receiving NO doses of up to 250 ppm.

“These data clearly demonstrate the safety of high concentration NO dosed intermittently and are consistent with the safety seen to date in over 85 human subjects treated with NO at concentrations of 160 ppm to 250 ppm,” stated Steve Lisi, CEO of Beyond Air.  “We look forward to using these data to support our pivotal bronchiolitis study planned for the 2020/21 winter in the United States and our 12-week nontuberculous mycobacteria study where patients will self-administer NO at home.”

The short ratio in the company stock is documented at 4.64 and the short float is around of 0.79%. The average true range of the stock is observed at 0.26 and the relative strength index of the stock is recorded at 38.42.

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