8-K: Beyond Air Appoints Daniel Moorhead as New CFO

Beyond Air, Inc. announced the appointment of Daniel Moorhead as its new Chief Financial Officer, effective January 5, 2026.

Summary

• Beyond Air, Inc. has appointed Daniel Moorhead as Chief Financial Officer, principal financial officer, and principal accounting officer, effective January 5, 2026.
• Mr. Moorhead, age 53, previously served as CFO of Zynex, Inc. from June 2017 to August 2025 and held various financial leadership roles at Evolving Systems, Inc.
• He is a CPA and holds a B.B.A. in Accounting from the University of Northern Colorado.
• Mr. Moorhead will receive an annual salary of $325,000 and is eligible for a discretionary bonus and participation in the company's equity incentive plan.
• He was granted an inducement stock option award to purchase 70,000 shares of common stock, vesting 25% on the first anniversary and in three equal annual installments thereafter.
• Denton Duke Dewrell, who temporarily held the principal financial and accounting officer roles, will resume his position as the company's controller.

Sentiment

Score: 7

Explanation: The sentiment is positive due to the appointment of an experienced CFO who is expected to support the company's growth and commercial strategy. While no financial results are presented, the strengthening of the management team is generally viewed favorably.

Positives

• The appointment of Daniel Moorhead, an experienced financial leader with over 20 years in public and private companies, including medical device and biopharmaceutical sectors, strengthens the management team.
• Mr. Moorhead's background in guiding companies through significant growth and developing high-performing finance organizations is expected to support Beyond Air's commercial scale and strategic execution.
• His experience with a publicly traded, commercial-stage medical device company (Zynex, Inc.) is directly relevant to Beyond Air's current stage of evolution.

Risks

• The ability to raise additional capital may be challenging.
• The timing and results of future pre-clinical studies and clinical trials are uncertain.
• Regulatory authorities, including the FDA and comparable non-U.S. bodies, may delay or not grant approval for product candidates.
• The company's approach to discover and develop novel drugs is unproven and may not lead to efficacious or marketable products.
• There is a risk regarding the ability to fund further pre-clinical studies and clinical trials.
• Obtaining, maintaining, and protecting intellectual property utilized by products is crucial and may face challenges.
• Competition from others using similar technology and developing products for similar uses could impact market share.
• The company's dependence on collaborators introduces external risks.

Future Outlook

The company anticipates continued market awareness for LungFit PH and is preparing for the highly anticipated FDA approval of its second-generation LungFit PH system and subsequent commercial launch. Management expects the new CFO to provide strong financial stewardship and support the successful execution of the commercial strategy as the company advances its overall strategy to build a market-leading position.

Management Comments

• Steve Lisi, Chairman and CEO of Beyond Air, stated: "It is a pleasure to welcome Dan to the Beyond Air team. He brings a strong track record of guiding companies through significant growth and developing high-performing finance organizations that can support commercial scale. I look forward to leveraging his experience as we continue advancing our strategy and build a market-leading company."
• Daniel Moorhead commented: "I am honored to join the Beyond Air team at such a pivotal moment in the Company’s evolution. As market awareness continues to build around LungFit PH and the team prepares for the highly anticipated FDA approval of the second generation LungFit PH and subsequent commercial launch, I look forward to working closely with the leadership team to ensure strong financial stewardship and support the successful execution of our commercial strategy."

Industry Context

Beyond Air operates as a commercial-stage medical device and biopharmaceutical company, specializing in nitric oxide (NO) applications for respiratory illnesses, neurological disorders, and solid tumors. Its LungFit PH system is already FDA approved for hypoxic respiratory failure in neonates, and the company is advancing other LungFit systems in clinical trials for severe lung infections. This CFO appointment comes as the company prepares for the potential FDA approval and commercial launch of its second-generation LungFit PH, positioning it within a competitive and evolving medical technology and biopharmaceutical landscape.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: The appointment of an experienced CFO could enhance investor confidence and improve financial management, potentially impacting share value positively.
• Employees: Denton Duke Dewrell will return to his role as Controller, providing continuity in that position. The new CFO's leadership may influence the finance department's structure and operations.
• Customers: A strengthened finance organization is expected to support the successful execution of the company's commercial strategy, which could lead to more efficient product delivery and market expansion for LungFit systems.

Next Steps

• Daniel Moorhead will officially assume the roles of Chief Financial Officer, principal financial officer, and principal accounting officer on January 5, 2026.
• The company will continue to build market awareness around its LungFit PH product.
• The team will prepare for the anticipated FDA approval of the second-generation LungFit PH system.
• The company plans for the subsequent commercial launch of the second-generation LungFit PH system.
• Beyond Air will continue advancing its overall strategy to build a market-leading company.

Key Dates

Keywords

CFO appointment, Chief Financial Officer, Beyond Air, XAIR, Daniel Moorhead, management change, medical device, biopharmaceutical, nitric oxide, LungFit PH, stock option, corporate governance