Beyond Air Business Summary

Beyond Air, Inc. (XAIR) is a commercial-stage medical device and biopharmaceutical company that generates revenue primarily through the commercialization of its LungFit® platform, a proprietary, tankless nitric oxide (NO) generator and delivery system. The company’s business model is centered on the clinical adoption of the LungFit® PH system, which is FDA-cleared for treating persistent pulmonary hypertension of the newborn (PPHN), and it operates through three primary segments: respiratory care, oncology (via Beyond Cancer), and neurology (via NeuroNOS). Beyond Air competes in the specialized medical equipment and respiratory therapy markets against firms such as TELA Bio, Inc., Femasys Inc., and IRIDEX Corporation. Positioned as a technological disruptor, the company leverages its generator-based technology to eliminate the logistical burdens and safety risks associated with traditional high-pressure NO cylinders, aiming to capture market share from established incumbents through superior portability and cost-efficiency. The leadership team is led by Chairman and CEO Steven Lisi, who brings a pedigree in healthcare investment from his tenure at Deerfield Management, and Chief Financial Officer Dan Moorhead, who joined in January 2026 after serving as CFO of Zynex, Inc. The company was co-founded by Amir Avniel, who currently serves as CEO of the NeuroNOS subsidiary, and is supported by key executives including Chief Operating Officer Michael Gaul and Head of Research and Clinical Development John Jett, PhD. Beyond Air’s strategic direction is overseen by an experienced board featuring Robert Carey and William Forbes, PharmD, while its institutional investor base includes prominent firms such as Alyeska Investment Group, Vanguard Group, and BlackRock. This team is currently focused on scaling global commercial execution and advancing clinical trials for ultra-high concentration NO in solid tumor metastases.