(Beyond Air) Shares of Beyond Air, Inc. rose more than 16% in premarket on Wednesday after earning approval of LungFit PH
The company announced that the US Food and Drug Administration approved the device, which is applied in the treatment of term and near-term neonates with hypoxic respiratory failure.
Beyond Air Chairman and CEO Steve Lisi says the approval of LungFit PH ushers in a new era of nitric oxide therapy. He lauded the approval as a pivotal event for the company as it officially enters the US market.
LungFit PH is the first gadget to be approved as a nitric oxide generator and delivery system. The device is expected to enable healthcare providers to maximize their efficiency in treating persistent pulmonary hypertension of the new bord or PPHN.
XAIR:NASDAQ is up +16.16% in premarket.
