Circassia Share Discussion Threads

[bjfanc] 19/12/2019 08:49

AIT changed name to beyond inc. Tells me Beyond want a better deal.

[bjfanc] 19/12/2019 08:47

Beyond raised dollars just last week. That's what gives them confidence to litigate. They either want a better deal or have something else lined up.

[pro_s2009] 19/12/2019 08:45

Maybe they feel with 12 months cash now, and LungFit due to launch in Q3 2020, they can go it alone and dont need CIR anymore ??

Anyway, going to end up in court for sure.


Raised money 12th Dec then terminate agreement with CIR on 18th Dec........



Beyond Air Terminates Commercial Licensing Agreement for LungFit™ PH for Use in the Hospital Setting in the United States and China
Dec 18, 2019 4:03pm EST

Beyond Air, Inc. Announces Closing of $11.5 Million Public Offering and Private Placement of Common Stock and Exercise of Option to Purchase Additional Shares
Dec 12, 2019 4:15pm EST

[pro_s2009] 19/12/2019 08:40

With those ongoing losses, BeyondAir had 6 months cash left if those losses continue at the Q3 rate. They raised 11.5m recently......but that only gives them 12 months.

[m5] 19/12/2019 08:40

You could well be right. It will be interesting to see how this pans out.

[pro_s2009] 19/12/2019 08:39

Well, BeyondAir is not in a very good financial place at the moment, so maybe someone is trying to buy them out and wants the deal terminated with CIR so they get their hands on LungFit.

Below is part of the BeyondAir Q3 2019 results



...........Financial results for three months ended September 30, 2019
Revenue for the three months ended September 30, 2019 was $0.6 million, all of
which was licensing revenue. No revenue was generated in the same three-month
period of 2018.

Research and development expenses for the three months ended September 30,
2019 were $2.8 million, compared to $0.6 million in the three months ended
September 30, 2018.

General and administrative expenses for the three months ended September 30,
2019 were $2.1 million, compared to $1.8 million for the same three-month
period of 2018.

For the three months ended September 30, 2019, the Company had a net loss
of $4.1 million, or $(0.38) per share, compared to a net loss of $2.4 million,
or ($0.28) per share in the same three-month period of 2018.

As of September 30, 2019, the Company had cash, cash equivalents, restricted
cash and marketable securities of $9.8 million.

[bjfanc] 19/12/2019 08:38

So Beyond inc closed a fund raise last week, so flushed with cash. The first thing they do is to litigate with CIR, having already accepted CIRs dollars at the start of the year.

[divmad] 19/12/2019 08:37

Wants out badly ..

[divmad] 19/12/2019 08:37

Seems to me that there are dark forces operating here. BeyondAir wants it badly because it now believes it can get a better deal elsewhere, or someone with deep pockets doesn't want Cir to gain too much traction in the US copd market.

[pro_s2009] 19/12/2019 08:32

The release from BeyondAir simply says the same, material breach.....

So one would assume they have a better offer and trying to terminate this deal so they can enter into a new deal with another party.......for those with a suspicious mind.





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[pre] 19/12/2019 08:29

that rns was a bolt out the blue...any ideas if Beyondair sold out completely as they had/have a holding in CIR? tia

[pro_s2009] 19/12/2019 08:28

Some background to the original deal and LungFit.



So the plus side of the downside would be no need to pay up to 32m USD in milestone payments, at the expense of future projected revenue - if the deal cannot be sorted out.

.

[pro_s2009] 19/12/2019 08:20

Yes, LungFit was pending approval and if approved, was due to launch 2nd half of 2020. So no real short term impact.

[neilyb675] 19/12/2019 08:09

18.50 - 18.70 (GBX) at 08:09:28
on Market (LSE)

[linton5] 19/12/2019 08:06

Good time to top up

[neilyb675] 19/12/2019 08:06

In auction

[74tom] 19/12/2019 08:02

Yep happy with this thread thank you.

Regarding the RNS, it drew my attention to the fact that Beyond Air received 12.3m Circassia shares in Jan 2019 (equal to 3.3% of the 369m shares in issue at the time), and I can’t find a holdings RNS for them? Is this because they are sub 5% and an international holder?

Another 5m shares issued in Feb too. So Circassia paid £0 cash consideration for the rights which is one positive...

From the Beyond Air SEC filings, it shows they held $5.6m of Circassia shares at 31st March, at 30th September they only held $1.89m ($1.89m / $0.2 per share = 9.45m shares) so they had sold around 6m shares between issue and end of September. Another depressant on the share price.

Detail on page 16 of the below;

hxxps://www.beyondair.net/investors/sec-filings/quarterly-reports/content/0001493152-19-016559/0001493152-19-016559.pdf

The cynic in me things they have now sold down all their shares and are looking for a way to wrest back control of their asset in two key markets - interesting to see what unfolds!

[neilyb675] 19/12/2019 07:50

I'm thinking of starting a new thread.

Any views, lol

[minja19] 19/12/2019 07:28

RNS legals dispute