Beyond Air's Strategic Initiatives for Growth and Innovation
2023-06-25
Beyond Air, Inc. (XAIR) held its Q4 2023 earnings call on June 22, 2023, at 4:30 PM ET. During the meeting, the company discussed its key drivers, plans for product/service expansion, and strategic initiatives.
One of the key drivers of Beyond Air's business is expanding the team to support market share growth and ensuring smooth logistics and clinical performance. The company also plans to refine programs, identify ideal hospital partners, sign annual contracts, build revenues over time, expand the team's training and volume, and develop Beyond Cancer's immune biomarkers for efficacy.
Regarding product/service expansion, Beyond Air intends to increase the team to support expansion, expand the commercial sales force, and increase the number of contracts signed for their LungFit PH product over the next four to six quarters. The company plans to expand in an orderly manner and is not in a rush to bring on all the people at once.
The company did not provide a clear outlook for the quarter/year, but it forecasts an average quarterly cash burn of approximately $10 million per quarter as they head into fiscal 2024. Beyond Air also mentioned that they will be seeing revenue in the next coming quarter and had cash and cash equivalents of $45.9 million as of March 31, 2023, which they believe is sufficient to fund operations for at least the next 12 months.
Beyond Air provided updates on various strategic initiatives, including receiving CE Mark near the end of the next quarter and FDA submission for cardiac label expansion before year-end. The company is preparing to conduct a study in the United States for their VCAP program. For LungFit GO, they plan to initiate a pivotal study in the first half of 2025 pending discussion with the FDA for NTM, and a pilot study in the second half of 2024 for COPD patients.
The company has completed multiple studies in several clinical settings where nitric oxide has been delivered to the lungs with zero serious adverse events directly attributable to nitric oxide. Beyond Air presented impressive new data at the American Association of Cancer Research Annual Meeting, suggesting that ultra-high concentration NO is effective in treating solid tumors. The company remains enthusiastic about their ongoing Phase 1a human clinical study.
Beyond Air has also announced a new program focused on what nNOS inhibition can do in neurological disorders, initially focusing on reversing the effects of autism.
In conclusion, Beyond Air, Inc. discussed its key drivers, plans for product/service expansion, and strategic initiatives during its Q4 2023 earnings call. The company plans to expand its team, increase market share, and ensure smooth logistics and clinical performance. Beyond Air also provided updates on its various strategic initiatives, including receiving CE Mark and FDA submission for cardiac label expansion. The company remains enthusiastic about its ongoing Phase 1a human clinical study and its new program focused on nNOS inhibition in neurological disorders.