Beyond Air jumps on FDA nod for its first product

Beyond Air

29/06/2022 11:27

** Shares of Beyond Air  XAIR.O  soar 16.8% to $6.75
premarket 
    ** The medical device maker receives U.S. Food and Drug
Administration's (FDA) approval for LungFit, its device for
treating a type of respiratory failure in newborn babies
 urn:newsml:reuters.com:*:nGNX1NWZfS
    ** LungFit PH, which generates on-demand nitric oxide from
ambient air for treatment, is XAIR's first FDA-approved product 
    ** Co says the first phase of U.S. commercial launch of the
product has begun
    ** Separately, XAIR says it did not generate any revenue in
Q4 compared with $0.9 mln a year earlier
    ** Net loss widens to $44.1 mln or $1.68 per share in Q4,
from $22.9 mln, or $1.27 per share, a year earlier  urn:newsml:reuters.com:*:nGNX4fhnp2
    ** Stock down 38.8% YTD, as of last close

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.Mathews@thomsonreuters.com;))