Filing Analysis
Beyond Air, Inc. has received a conditional approval from the Nasdaq Hearings Panel to continue its listing, provided it regains compliance with the Bid Price Rule by July 31, 2026.
🚩 Red Flags
- The company is currently in violation of the Bid Price Rule.
- The window for compliance is very short (deadline of July 31, 2026).
- The 'Discretionary Panel Monitor' status creates a 'zero-tolerance' environment where any future deficiency leads to immediate delisting.
📋 Key Facts
- The company was non-compliant with Nasdaq Listing Rule 5550(a)(2) (the Bid Price Rule).
- The Nasdaq Hearings Panel granted a request for continued listing subject to conditions following a May 14, 2026 hearing.
- The deadline to demonstrate compliance with the Bid Price Rule is July 31, 2026.
- The company will be subject to a Discretionary Panel Monitor for one year after regaining compliance.
- Failure to meet any listing standard during the one-year monitoring period will result in a prompt written determination to delist without the option to provide a compliance plan.
Beyond Air, Inc. has requested a hearing with the Nasdaq Hearings Panel to appeal a delisting notice received on April 10, 2026, due to non-compliance with the $1.00 minimum bid price requirement. The delisting process is stayed until the hearing, currently scheduled for May 14, 2026.
🚩 Red Flags
- Failure to maintain the $1.00 minimum bid price requirement.
- Potential delisting from The Nasdaq Stock Market LLC.
- No assurance that the Panel will grant continued listing or that the company can regain compliance.
📋 Key Facts
- Received written notice from Nasdaq on April 10, 2026, for non-compliance with Rule 5550(a)(2) ($1.00 bid price).
- Timely requested a hearing before the Nasdaq Hearings Panel on April 13, 2026.
- The hearing is scheduled for May 14, 2026.
- The delisting action is stayed pending a written decision from the Panel.
- Common stock (XAIR) continues to be listed on Nasdaq during the appeal process.
Beyond Air received a Nasdaq delisting notice on April 7, 2026, for failing to maintain the $1.00 minimum bid price. Uniquely, the company is ineligible for the standard 180-day compliance period because it already executed a 1-for-20 reverse stock split within the preceding 12-month period.
🚩 Red Flags
- Immediate delisting risk without the standard 180-day compliance window.
- Failure of a previous 1-for-20 reverse split (July 2025) to maintain the stock price above $1.00 for even one year.
- Potential for a second reverse stock split within a 12-month period, which often signals chronic value erosion.
📋 Key Facts
- Received Nasdaq notice on April 7, 2026, regarding failure to satisfy the $1.00 minimum bid price rule (Rule 5550(a)(2)).
- The bid price was below $1.00 for 30 consecutive business days from February 23, 2026, to April 6, 2026.
- Ineligible for the typical 180-day grace period due to a 1-for-20 reverse stock split effected on July 14, 2025.
- Must request a hearing before the Nasdaq Hearings Panel by April 14, 2026, to stay the delisting.
- Management is considering another reverse stock split as a remedy to regain compliance.
Beyond Air, Inc. announced that Steven A. Lisi has resigned as CEO and Director, effective March 27, 2026. The company has appointed Robert Goodman, the current Chief Commercial Officer and a board member, as the new CEO.
🚩 Red Flags
- Full acceleration of all unvested equity awards for the departing CEO.
- The company has not yet finalized a compensation arrangement or employment agreement with the new CEO.
📋 Key Facts
- Steven A. Lisi resigned as CEO and Director effective March 27, 2026; the company states there were no disagreements.
- Robert Goodman, previously Chief Commercial Officer since November 2025, was appointed CEO effective March 27, 2026.
- Mr. Lisi will receive $650,000 in separation pay (12 months of base salary) and 12 months of COBRA premiums.
- All of Mr. Lisi's unvested options and restricted stock units (RSUs) will be fully accelerated and remain exercisable for 24 months.
- New CEO Robert Goodman has over 25 years of experience, including roles at Pfizer, Thermo Fisher Scientific, and BioTelemetry.