XTLB News & Events

Beyond Air (XAIR) announced that the previously disclosed proposed transaction with XTL Biopharmaceuticals (XTLB) relating to Beyond Air's NeuroNOS subsidiary has been terminated. The companies entered into a letter of intent in January 2026 regarding a potential transaction in which XTL would acquire Beyond Air's majority ownership interest in NeuroNOS Ltd. The letter of intent expired on March 9, 2026, in accordance with its terms, and the parties did not enter into a definitive agreement. "While the proposed transaction will not proceed, Beyond Air remains committed to maximizing the value of the NeuroNOS platform," said Steve Lisi, CEO. "We continue to believe NeuroNOS represents a compelling opportunity based on its proprietary small-molecule platform and development programs targeting neurological disorders and oncology." Beyond Air will continue to evaluate strategic alternatives for NeuroNOS and remains focused on advancing its core nitric oxide platform and LungFit programs

XTL Biopharmaceuticals announced that it has received a letter from Nasdaq, dated February 25, notifying the company of the staff's belief, based upon its review of the company and pursuant to Nasdaq Listing Rule 5101, that the company is a "public shell", and that continued listing of the company's American depositary shares is no longer warranted. The company intends to request a hearing to appeal the delisting process before a Nasdaq Hearings Panel. A Hearing request will stay the suspension of the ADSs and delisting pending the Panel's decision. The letter stated that the staff believes the company no longer has an operating business, citing the company's prior public disclosure that its wholly owned subsidiary, The Social Proxy, had filed a formal application with the competent Israeli court for the commencement of insolvency proceedings and that on February 22, the court ordered The Social Proxy's liquidation and the appointment of a trustee for the insolvency proceedings. The staff noted that the company's purported shell status could lead to the ADSs being subject to market abuses and other violative conduct and that purchasers of the company's securities do not know what the operating business of the company will be in the future.