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Provides fiscal year 2025 revenue guidance of $12 - $16 million US pilot trial of LungFit® PRO to treat viral community acquired pneumonia (VCAP) underway with data expected mid-calendar 2024 Beyond Cancer presents positive first-in-human data for intratumoral administration of ultra-high concentration nitric oxide (UNO) therapy demonstrating safety and evidence of immune system activation at the Society for Immunotherapy Conference (SITC) Submitted PMA supplement to FDA for the expansion of LungFit PH label to include cardiac surgery; approval anticipated in second half calendar 2024 LungFit PH granted Innovative Technology contract from Vizient, Inc., the nation’s largest provider-driven health care performance improvement company Entered into an agreement with Getz Healthcare to commercialize the LungFit PH device in certain countries across the Asia-Pacific region Conference call scheduled for 4:30 p.m. ET today, November 13th GARDEN CITY, N.Y., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR) (“Beyond Air” or the “Company”), a commercial stage medical device and biopharmaceutical company focused on harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders and solid tumors (through its affiliate Beyond Cancer, Ltd. (“Beyond Cancer”)), today announced its financial results for the fiscal quarter ended September 30, 2023. “The Beyond Air and Beyond Cancer teams continue to execute. In the last three months, we have made significant strides in the US hospital market with LungFit PH, licensed LungFit PH in certain Asian markets, submitted a PMA supplement to the FDA for cardiac surgery, presented preclinical and human data for treatment of solid tumors with UNO and began the United States VCAP study,” said Steve Lisi, Chairman and Chief Executive Officer of Beyond Air. “Market confidence in our superior LungFit PH technology continues to grow along with our market penetration and opportunities. I am proud of our progress and want to thank our customers who gave us the opportunity to succeed over the past year. At the American Academy of Respiratory Care (AARC) last week there was great enthusiasm around our enhanced LungFit PH system which gives us confidence in our fiscal 2025 revenue guidance as well as our belief that LungFit PH will become the dominant product in the market”. Recent Highlights and Upcoming Milestones LungFit® PH Provided revenue guidance of $12 - $16 million for the fiscal year ending March 31, 2025Entered into an agreement with Getz Healthcare to commercialize the LungFit PH device in certain countries across the Asia-Pacific region, paving the way for an ex-U.S. launchReceived an Innovative Technology contract from Vizient Inc. based on recommendations by hospital experts who serve on Vizient’s customer-led councilsCE Mark anticipated to be received in first half calendar 2024Submitted a PMA supplement to the FDA for a cardiac surgery label expansion; approval anticipated in calendar year 2024 LungFit® PRO Initiated the process for opening sites for a U.S. pilot trial for patients hospitalized with viral community-acquired pneumonia (VCAP)Randomized, double-blind, placebo-controlled trial in 50 patients at 10 sitesTop line data expected mid-year 2024 from VCAP study LungFit® GO Plan to initiate a U.S. trial for patients with nontuberculous mycobacteria (NTM) in calendar year 2025, pending discussion with the FDACOPD pilot trial on hold due to strategic prioritization Beyond Cancer - Solid Tumor Program First-in-human data presented at the Society for Immunotherapy Conference (SITC) in November 2023 show that a single intratumoral injection of UNO therapy for 5 minutes was safe and well tolerated in patients and showed upregulation of cytotoxic T-cells, T-central memory cells, M1 macrophages, and dendritic cells while downregulating T-regulatory cells and mononuclear-myeloid-derived suppressor cells (M-MDSC)Published pre-clinical data demonstrating that UNO therapy combined with anti-mPD-1 has a synergistic immune response resulting in a significant improvement in tumor regression rates and survival in micePooled data analysis of combination studies with 50,000 or 100,000 ppm UNO and anti-mPD-1 demonstrated more than a doubling in survival versus anti-mPD-1 alone, presented at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics Autism Spectrum Disorder (ASD) Program Announced pre-clinical data demonstrating a therapeutic effect for at least 10 days after a single subcutaneous injection of an extended-release selective neuronal nitric oxide synthase (nNOS) inhibitorPlan to initiate a first-in-human study for treatment of ASD in 2025 Financial Results for the Fiscal Quarter Ended September 30, 2023 Revenues for the three months ended September 30, 2023 were $0.24 million compared to zero for the quarter ended September 30, 2022. Cost of revenue of $0.4 million was recognized for the three months ended September 30, 2023, compared to $0.2 million for the three months ended September 30, 2022. Research and development expenses for the three months ended September 30, 2023 were $7.1 million as compared to $4.5 million for the three months ended September 30, 2022. The additional $2.7 million was due primarily to an increase in stock-based compensation, salaries, and development costs associated with the pipeline. General and administrative expenses for the three months ended September 30, 2023 and September 30, 2022 were $10.2 million and $8.0 million, respectively. The $2.2m increase was mainly due to stock based compensation, professional fees and salaries. Net loss attributed to common stockholders for the three months ended September 30, 2023, was ($16.2) million or a loss of ($0.51) per share, basic and diluted. The Company’s net loss attributed to common stockholders for the three months ended September 30, 2022 was ($12.0) million or a loss of ($0.40) per share, basic and diluted. Total cash burn in the quarter ended September 30, 2023, was $16.5 million, including $6.4 million in one-time payments which had previously been disclosed and accrued. Aside from these one-time payments, cash burn in the quarter was $10.1 million which is in line with our guidance of approximately $10 million per quarter. As of September 30, 2023, the Company had cash, restricted cash, cash equivalents and marketable securities of $43.9 million. Conference Call & WebcastMonday, November 13th @ 4:30 PM ET 1-877-407-0784 (Domestic)1-201-689-8560 (International) Call me - https://callme.viavid.com/viavid/?callme=true&passcode=13738837&h=true&info=company-email&r=true&B=6 Participants can use Guest dial-in #s above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1640134&tp_key=2d5ff9123d About Beyond Air®, Inc.Beyond Air is a commercial stage medical device and biopharmaceutical company dedicated to harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders and solid tumors. The Company has received FDA approval for its first system, LungFit® PH, for the treatment of term and near-term neonates with hypoxic respiratory failure. Beyond Air is currently advancing its other LungFit systems in clinical trials for the treatment of severe lung infections such as viral community-acquired pneumonia (including COVID-19), and nontuberculous mycobacteria (NTM). The Company has also partnered with The Hebrew University of Jerusalem to advance a pre-clinical program dedicated to the treatment of autism spectrum disorder (ASD) and other neurological disorders. Beyond Cancer, Ltd., an affiliate of Beyond Air, is investigating ultra-high concentrations of NO with a proprietary delivery system to target certain solid tumors in the pre-clinical setting. For more information, visit www.beyondair.net. About Nitric Oxide Nitric Oxide is a powerful molecule, naturally synthesized in the human body, proven to play a critical role in a broad array of biological functions. In the airways, NO targets the vascular smooth muscle cells that surround the small resistance arteries in the lungs. Currently, exogenous inhaled NO is used in adult respiratory distress syndrome, post certain cardiac surgeries and persistent pulmonary hypertension of the newborn to treat hypoxemia. Additionally, NO is believed to play a key role in the innate immune system and in vitro studies suggest that NO possesses anti-microbial activity not only against common bacteria, including both gram-positive and gram-negative, but also against other diverse pathogens, including mycobacteria, viruses, fungi, yeast and parasites, and has the potential to eliminate multi-drug resistant strains. About LungFit®*Beyond Air’s LungFit is a cylinder-free, phasic flow generator and delivery system and has been designated as a medical device by the U.S. Food and Drug Administration (FDA). The ventilator compatible version of the device can generate NO from ambient air on demand for delivery to the lungs at concentrations ranging from 1 ppm to 80 ppm. The LungFit system could potentially replace large, high-pressure NO cylinders providing significant advantages in the hospital setting, including greatly reducing inventory and storage requirements, improving overall safety with the elimination of NO2 purging steps, and other benefits. LungFit can also deliver NO at concentrations at or above 80 ppm for potentially treating severe acute lung infections in the hospital setting (e.g. COVID-19, bronchiolitis) and chronic, refractory lung infections in the home setting (e.g. NTM). With the elimination of cylinders, Beyond Air intends to offer NO treatment in the home setting. * Beyond Air’s LungFit PH is approved for commercial use only in the United States of America to treat term and near-term neonates with hypoxic respiratory failure. Beyond Air’s other LungFit systems are not approved for commercial use and are for investigational use only. Beyond Air is not suggesting NO use over 80 ppm or use at home. About PPHNPersistent pulmonary hypertension of the newborn (PPHN) is a lethal condition and secondary to failure of normal circulatory transition at birth. It is a syndrome characterized by elevated pulmonary vascular resistance (PVR) that causes labile hypoxemia due to decreased pulmonary blood flow and right-to-left shunting of blood. Its incidence has been reported as 1.9 per 1000 live births (0.4–6.8/1000 live births) with mortality rate ranging between 4–33%. This syndrome complicates the course of about 10% of infants with respiratory failure and remains a source of considerable morbidity and mortality. NO gas is a vasodilator, is approved in dozens of countries to improve oxygenation and reduces the need for extracorporeal membrane oxygenation (ECMO) in term and near-term (>34 weeks gestation) neonates with hypoxic respiratory failure associated with clinical or echocardiographic evidence of pulmonary hypertension in conjunction with ventilator support and other appropriate agents. About Viral Community-Acquired Pneumonia (VCAP)In adults, viruses have been identified as the causative agents in approximately 100 million cases of community-acquired pneumonia per year. While viral pneumonia in adults is most commonly caused by rhinovirus, respiratory syncytial virus (RSV) and influenza virus, newly emerging viruses (including SARS-CoV-1, SARS-CoV-2, avian influenza A, and H1N1 viruses) have been identified as pathogens contributing to the overall burden of adult viral pneumonia. Patients aged 65 years or older are at particular risk for death from the disease, as are patients with other underlying health conditions or weakened immune systems. There is no consensus regarding the use of antiviral drugs to treat viral pneumonia, and specific preventative measures are currently limited to the influenza vaccine. Given that current treatment recommendations are largely limited to supportive care, there is an unmet medical need for effective treatment options. NO may prove to be a treatment as the impact on the lung should result in bronchodilation, reduction in inflammation and inhibition of the viral replication process. About NTMNTM infection is a rare and serious bacterial infection in the lungs causing debilitating pulmonary disease associated with high morbidity and mortality. NTM infection is acquired by inhaling aerosolized bacteria from the environment, and can lead to NTM lung disease, a progressive and chronic condition. According to the Cystic Fibrosis Foundation, 13% of U.S. cystic fibrosis patients had a positive culture for a NTM species in 2017. NTM is considered an emerging public health concern worldwide because of its multi-drug antibiotic resistance. Current treatment guidelines suggest a combination of multiple antibiotics dosed chronically for as long as two years. These complex, expensive and invasive regimens have a poor record in the treatment of Mycobacterium abscessus complex (MABSC) and refractory Mycobacterium avium complex (MAC) and have the potential to cause severe adverse events. Beyond Air’s system is designed to deliver 150 – 400 ppm NO to the lungs, and early data, including from the pilot study of the LungFit GO, indicate that this range of NO concentrations could have a positive effect on patients infected with NTM. About BronchiolitisThe majority of hospital admissions of infants with bronchiolitis are caused by respiratory syncytial virus (RSV). RSV is a common and highly transmissible virus that infects the respiratory tract of most children before their second birthday. While most infants with RSV present with minor respiratory symptoms, a small percentage develop serious lower airway infections, termed bronchiolitis, which can become life-threatening. The absence of treatment options for bronchiolitis limits the care of these sick infants to largely supportive measures. Beyond Air’s system is designed to effectively deliver 150 – 400 ppm NO, for which preliminary studies indicate may eliminate bacteria, viruses, fungi, and other microbes from the lungs. About Beyond Cancer, Ltd.Beyond Cancer, Ltd., an affiliate of Beyond Air, Inc., is a development-stage biopharmaceutical and medical device company utilizing (UNO via a proprietary delivery platform to treat primary tumors and prevent metastatic disease. Nitric oxide at ultra-high concentrations has been reported to show anticancer properties and to potentially serve as a chemosensitizer and radiotherapy enhancer. A first-in-human study is underway in patients with solid tumors. The Company is conducting preclinical studies of UNO in multiple solid tumor models to inform additional treatment protocols. For more information, visit www.beyondcancer.com. About UNO Therapy for Solid TumorsCancer is the second leading cause of death globally, with tumor metastases responsible for approximately 90% of all cancer-related deaths. Current cancer treatment modalities generally include chemotherapy, immunotherapy, radiation, and/or surgery. UNO therapy is a completely new approach to preventing relapse or metastatic disease. In vitro murine data show that local tumor ablation with UNO stimulates an anti-tumor immune response in solid tumor cancer models. The Company believes that UNO has the potential to prevent relapse or metastatic disease with as little as a single 5-minute treatment and with limited toxicity or off-target effects. About ASDASD is a serious neurodevelopmental and behavioral disorder, and one of the most disabling conditions and chronic illnesses in children. ASDs include a wide range of developmental disorders that share a core of neurobehavioral deficits manifested by abnormalities in social interactions, deficits in communication, restricted interests, and repetitive behaviors. In 2023, the CDC reported that approximately 1 in 36 children in the U.S. is diagnosed with an ASD. On average, ASD costs an estimated $60,000 a year through childhood, with the bulk of the costs in special services and lost wages related to increased demands on one or both parents. Mothers of children with ASD, who tend to serve as the child’s case manager and advocate, are less likely to work outside the home. On average, they work fewer hours per week and earn 56 percent less than mothers of children with no health limitations and 35 percent less than mothers of children with other disabilities or disorders. The cost of caring for Americans with autism reached $268 billion in 2015 and is expected to rise to $461 billion by 2025 in the absence of more-effective interventions and support across the life span. Forward Looking StatementsThis press release contains “forward-looking statements” concerning the potential safety and efficacy of inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate, as well as its therapeutic potential in a number of indications; and the potential impact on patients and anticipated benefits associated with inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate. Forward-looking statements include statements about expectations, beliefs, or intentions regarding product offerings, business, results of operations, strategies or prospects. You can identify such forward-looking statements by the words “appears,” “expects,” “plans,” “anticipates,” “believes” “expects,” “intends,” “looks,” “projects,” “goal,” “assumes,” “targets” and similar expressions and/or the use of future tense or conditional constructions (such as “will,” “may,” “could,” “should” and the like) and by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from any future results expressed or implied by the forward-looking statements. These forward-looking statements are only predictions and reflect views as of the date they are made with respect to future events and financial performance. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including risks related to the ability to raise additional capital; the timing and results of future pre-clinical studies and clinical trials; the potential that regulatory authorities, including the FDA and comparable non-U.S. regulatory authorities, may not grant or may delay approval for our product candidates; the approach to discover and develop novel drugs, which is unproven and may never lead to efficacious or marketable products; the ability to fund and the results of further pre-clinical studies and clinical trials of our product candidates; obtaining, maintaining and protecting intellectual property utilized by products; obtaining regulatory approval for products; competition from others using similar technology and others developing products for similar uses; dependence on collaborators; and other risks, which may, in part, be identified and described in the “Risk Factors” section of Beyond Air’s most recent Annual Report on Form 10-K and other of its filings with the Securities and Exchange Commission, all of which are available on Beyond Air’s website. Beyond Air and Beyond Cancer undertake no obligation to update, and have no policy of updating or revising, these forward-looking statements, except as required by applicable law. CONTACTS: Investor Relations contacts Edward BargerHead of Investor Relationsebarger@beyondair.net Corey Davis, Ph.D.LifeSci Advisors, LLCCdavis@lifesciadvisors.com (212) 915-2577 Media contacts Kori-Ann TaylorHead of Marketingktaylor@beyondair.net BEYOND AIR, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(amounts in thousands, except share and per share data) September 30, 2023 March 31, 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents$13,179 $29,158 Marketable securities 25,463 16,724 Restricted cash 5,231 10,129 Accounts receivable 205 - Inventory, net 1,574 1,129 Grant receivable - 420 Other current assets and prepaid expenses 1,481 1,850 Total current assets 47,134 59,410 Licensed right to use technology 1,529 1,632 Right-of-use lease assets 2,294 2,493 Property and equipment, net 6,824 5,003 Other assets 224 212 TOTAL ASSETS$58,005 $68,749 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable$3,292 $2,016 Accrued expenses 8,496 16,613 Operating lease liability, current portion 391 376 Loans payable, current portion 275 775 Total current liabilities 12,454 19,780 Operating lease liability, net 2,087 2,321 Long-term debt 14,044 120 Warrant Liability 238 - Derivative liability 349 - Other long-term liabilities - 4,500 Total liabilities 29,173 26,721 Stockholders’ equity Preferred Stock, $0.0001 par value per share: 10,000,000 shares authorized, 0 shares issued and outstanding - - Common Stock, $0.0001 par value per share: 100,000,000 shares authorized, 31,972,434 and 30,738,585 shares issued and outstanding as of September 30, 2023 and March 31, 2023, respectively 3 3 Treasury stock (25) (25)Additional paid-in capital 235,495 217,339 Accumulated deficit (209,770) (179,455)Accumulated other comprehensive income 43 53 Total stockholders’ equity attributable to Beyond Air, Inc 25,746 37,915 Non-controlling interests 3,085 4,113 Total equity 28,831 42,028 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$58,005 $68,749 BEYOND AIR, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(amounts in thousands, except share and per share data)(UNAUDITED) For the Three Months Ended For the Six Months Ended September 30, September 30, 2023 2022 2023 2022 Revenue$239 $- $298 $- Cost of revenue 432 179 735 179 Gross loss (193) (179) (437) (179) Operating expenses: Research and development (7,130) (4,452) (11,826) (7,678)General and administrative (10,211) (7,990) (21,147) (16,203)Operating expenses (17,342) (12,442) (32,972) (23,882) Operating loss (17,535) (12,621) (33,410) (24,061) Other income (loss) Dividend/interest income and gains on marketable securities 641 1,050 - Interest expense (914) (48) (1,072) (96)Change in fair value of warrant liability 324 - 647 - Change in fair value of derivative liability 500 - 1,012 - Foreign exchange loss (42) (217) (34) (394)Estimated liability for contingent loss (400) - (598) - Other income / (expense) - 88 (77) 99 Total other income (expense) 109 (177) 929 (391) Benefit from income taxes - - - - Net loss$(17,426) $(12,797) $(32,481) $(24,452) Less : net loss attributable to non-controlling interests (1,205) (830) (2,165) (1,550) Net loss attributable to Beyond Air, Inc. (16,220) (11,968) (30,315) (22,902) Foreign currency translation gain/(loss) (35) 171 (9) 343 Comprehensive loss attributable to Beyond Air, Inc.$(16,255) $(11,797) $(30,325) $(22,559) Net basic and diluted loss per share attributable to Beyond Air, Inc.$(0.51) $(0.40) $(0.96) $(0.77) Weighted average number of shares, outstanding, basic and diluted 31,800,492 29,898,825 31,592,880 29,893,414

SOUTH SAN FRANCISCO, Calif., Nov. 06, 2023 (GLOBE NEWSWIRE) -- Pliant Therapeutics, Inc. (Nasdaq: PLRX), a clinical-stage biotechnology company and leader in the discovery and development of novel therapeutics for the treatment of fibrotic diseases, presented three posters highlighting PLN-101095, a novel inhibitor of integrins αvβ8 and αvβ1. These posters were presented as part of the 38th Annual Meeting of the Society for Immunotherapy of Cancer (SITC) held November 1 - 5, 2023. Trial in Progress: Phase 1a Trial of PLN-101095, an Integrin αvβ8 and αvβ1 Inhibitor, as Monotherapy and in Combination with Pembrolizumab, in Treatment-resistant Patients with Advanced or Metastatic Solid Tumors Pliant is conducting a first-in-human, open-label, dose-escalation study designed to evaluate the safety, tolerability, and pharmacokinetics of PLN-101095 as monotherapy and in combination with pembrolizumab in adult patients with advanced or metastatic solid tumors and documented disease progression after at least 3 months from the start of treatment with pembrolizumab, and with no other available effective treatment options. Integrin αvβ1 is Expressed in Multiple Solid Tumor Types and Drives the Adhesion of Cancer Associated Fibroblast to Latent TGF-β Expression of αvβ1 protein was evaluated across a diverse set of human tumor tissues and cancer-associated fibroblasts (CAF) to investigate its functional role in cancer biology. PLN-101095, a selective small molecule inhibitor of αvβ8 and αvβ1 integrins, was evaluated in combination with anti-mPD-1 on fibrotic markers in the EMT6 tumor model. PLN-101095 was shown to block the binding of cancer-associated fibroblasts (CAF) to the TGF-β latency-associated peptide (LAP) in a dose-dependent manner. EMT6 tumor tissues treated with PLN-101095 and anti-mPD-1 showed a significant reduction in fibrotic markers compared to anti-αvβ8 and anti-mPD-1. PLN-101095 was also shown to effectively reduce the expression of the fibroblast activation marker αSMA in ex vivo-treated human breast tumor tissues. Selective Targeting of Integrins αVβ8 and αVβ1 within the Dynamic Ecosystem of Pancreatic Cancer to Improve the Overall Anti-tumor Response PLN-101095, a selective small molecule inhibitor of αvβ8 and αvβ1 integrins, was assessed in preclinical models of pancreatic ductal adenocarcinoma (PDA). PLN-101095 was shown to decrease primary tumor growth, improve chemosensitivity in metastatic PDA with gene expression changes associated with favorable immune response and improved prognosis. Results showed that selective targeting of αvβ8 and αvβ1 with PLN-101095 or αvβ1 signaling with PLN-76104 potently inhibited primary tumor growth, spread and improve chemotherapy response in models of PDA. These posters are available on the Publications page of the Pliant’s website at . About Pliant Therapeutics, Inc. Pliant Therapeutics is a clinical-stage biopharmaceutical company and leader in the discovery and development of novel therapeutics for the treatment of fibrotic diseases. Pliant's lead product candidate, bexotegrast (PLN-74809), is an oral, small molecule, dual selective inhibitor of αvß6 and αvß1 integrins that is in development in the lead indications for the treatment of idiopathic pulmonary fibrosis, or IPF, and primary sclerosing cholangitis, or PSC. Bexotegrast has received Fast Track Designation and Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) in IPF and PSC and Orphan Drug Designation from the European Medicines Agency in IPF and PSC. Pliant has initiated BEACON-IPF, a Phase 2b trial of bexotegrast in IPF. Pliant has also developed PLN-1474, a small molecule, selective inhibitor of αvß1 integrin for the treatment of nonalcoholic steatohepatitis, or NASH with liver fibrosis. Pliant has initiated a Phase 1 study for its third clinical program, PLN-101095, a small molecule, dual-selective inhibitor of αvß8 and αvß1 integrins, that is being developed for the treatment of solid tumors. In addition to clinical-stage programs, Pliant currently has a preclinical program targeting muscular dystrophies. For additional information, please visit: . Follow us on social media X, LinkedIn, Facebook and YouTube. Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are intended to identify forward-looking statements. These statements include those regarding the results of our studies of our development candidates and their potential for further development. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Pliant Therapeutics could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including those related to the development and commercialization of our product candidates, including any delays in our ongoing or planned preclinical or clinical trials, the impact of current macroeconomic and marketplace conditions, our reliance on third parties for critical aspects of our development operations, the risks inherent in the drug development process, the risks regarding the accuracy of our estimates of expenses and timing of development, our capital requirements and the need for additional financing, including the availability of additional term loans under our loan facility, and our ability to obtain and maintain intellectual property protection for our product candidates. These and additional risks are discussed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Quarterly Report on Form 10-Q for the period ended June 30, 2023 which is available on the SEC's website at Unless otherwise noted, Pliant is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. Investor and Media Contact: Christopher Keenan Vice President, Investor Relations and Corporate Communications Pliant Therapeutics, Inc. ir@pliantrx.com

UNO therapy results in a more immunogenic tumor microenvironment (TME) as well as a systemic response that overcomes anti-PD-1 resistance First-in-human Phase 1 clinical study is ongoing with initial data expected to be released on November 3rd at the Society for Immunotherapy of Cancer (SITC) Annual Meeting GARDEN CITY, N.Y. and HAMILTON, Bermuda, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Beyond Cancer, Ltd., an affiliate of Beyond Air, Inc. (NASDAQ: XAIR) that is developing ultra-high concentration nitric oxide (UNO) as an immunotherapeutic for solid tumors, announced today the publication of pre-clinical data demonstrating that its proprietary technology reduces immunosuppression and creates a favorable microenvironment that can contribute to immune potentiation. The data were published in an article entitled, “Intratumoral Administration of High-Concentration Nitric Oxide and Anti-mPD-1 Treatment Improves Tumor Regression Rates and Survival in CT26 Tumor-Bearing Mice,” in the peer-reviewed journal Cells. The article is available on the Cells website. (click here). “The combination of UNO and anti-mPD-1 resulted in a potent, synergistic immune response,” stated Dr. Hila Confino, Head of In Vivo Studies. “This work aligns with prior data utilizing UNO to treat solid tumors and has repeatedly demonstrated increased tumor regression rates and improvement in survival.” Dr. Frederick Dirbas, MD, Associate Professor of Surgery, Div of Surgical Oncology, Dept of Surgery, Stanford University School of Medicine and Chair of the Beyond Cancer Scientific Advisory Board commented, “This manuscript details the beneficial effects of UNO alone and in conjunction with immunotherapy in a murine tumor model. The boost seen with the combination of UNO and immunotherapy is important. We look forward to further investigation exploring mechanisms of action of UNO as well as the potential merits of UNO in treating human solid tumors.” The manuscript published in Cells describes several studies elucidating UNO’s effect on both the adaptive and innate immune responses, as well as tumor responses, to a single administration of therapy. Specifically, in vitro studies showed that PD-L1 was upregulated in both CT26 and 4T1 tumor models following exposure to UNO, implying a possible mechanism for overcoming PD-1 resistance (Figure 1). Figure 1: PD-L1 Upregulation in CT26 and 4T1 Cells after In Vitro Exposure to UNO Intratumorally, UNO resulted in a substantial and enduring reduction in the T-reg/CD8+ ratio demonstrating a less tumorigenic microenvironment (Figure 2). Figure 2: T-cell profiling in tumors of CT26 mice treated with UNO Systemically, the acute effects of UNO treatment included a decrease in MDSC’s and simultaneous increase in M1 macrophages, demonstrating a more immunogenic blood profile (Figure 3). Figure 3: Myeloid cell profiling in CT26 tumors treated with UNO “The publication of our second peer-reviewed manuscript in the journal Cells further demonstrates the acceptance of the science of UNO by an expanding community of researchers,” said Dr. Selena Chaisson, Chief Executive Officer. “I am excited for the presentation of our initial clinical data at SITC.” About Nitric Oxide Nitric Oxide (NO) is a potent molecule, naturally synthesized in the human body, proven to play a critical role in a broad array of biological functions. In the airways, NO targets the vascular smooth muscle cells that surround the small resistance arteries in the lungs. Currently, exogenous inhaled NO is used in adult respiratory distress syndrome, post certain cardiac surgeries and persistent pulmonary hypertension of the newborn to treat hypoxemia. Additionally, NO is believed to play a key role in the innate immune system and in vitro studies suggest that NO possesses anti-microbial activity not only against common bacteria, including both gram-positive and gram-negative, but also against other diverse pathogens. About Beyond Cancer, Ltd.Beyond Cancer, Ltd., an affiliate of Beyond Air, Inc., is a development-stage biopharmaceutical and medical device company utilizing ultra-high concentration nitric oxide (UNO) via a proprietary delivery platform to treat primary tumors and prevent metastatic disease. Nitric oxide at ultra-high concentrations has been reported to show anticancer properties and to potentially serve as a chemosensitizer and radiotherapy enhancer. A first-in-human study is underway in patients with solid tumors. The Company is conducting preclinical studies of UNO in multiple solid tumor models to inform additional treatment protocols. The company’s Scientific Advisory Board (SAB) includes several prominent key opinion leaders in oncology including Dr. Fred Dirbas, Assoc. Prof. of Surgery, Div. of Surgical Oncology, Stanford University School of Medicine, Dr. Sunil Panchal, President of the National Institute of Spine and Pain, and Dr. Mark Pegram, Susy Yuan-Huey Hung Professor of Medicine (Oncology), Medical Director, Clinical Translational Research Unit, and Associate Dean for Clinical Research Quality at Stanford University. For more information, visit www.beyondcancer.com. About UNO Therapy for Solid TumorsCancer is the second leading cause of death globally, with tumor metastases responsible for approximately 90% of all cancer-related deaths. Current cancer treatment modalities generally include chemotherapy, immunotherapy, radiation, and/or surgery. Ultra-high concentration Nitric Oxide (UNO) therapy is a completely new approach to preventing relapse or metastatic disease. In vitro murine data show that local tumor ablation with UNO stimulates an anti-tumor immune response in solid tumor cancer models. Beyond Cancer, Ltd. believes that UNO has the potential to prevent relapse or metastatic disease with as little as a single 5-minute treatment and with limited toxicity or off-target effects. About Beyond Air®, Inc.Beyond Air is a commercial stage medical device and biopharmaceutical company dedicated to harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders and solid tumors. The Company has received FDA approval for its first system, LungFit® PH for the treatment of term and near-term neonates with hypoxic respiratory failure. Beyond Air is currently advancing its other LungFit systems in clinical trials for the treatment of severe lung infections such as viral community-acquired pneumonia (including COVID-19), and nontuberculous mycobacteria (NTM). The Company has also partnered with The Hebrew University of Jerusalem to advance a pre-clinical program dedicated to the treatment of Autism Spectrum disorder (ADS) and other neurological disorders. Beyond Cancer, Ltd., an affiliate of Beyond Air, is investigating ultra-high concentrations of NO with a proprietary delivery system to target certain solid tumors in the pre-clinical setting. For more information, visit www.beyondair.net. Forward Looking StatementsThis press release contains “forward-looking statements” concerning the potential safety and efficacy of inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate, as well as its therapeutic potential in a number of indications; and the potential impact on patients and anticipated benefits associated with inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate. Forward-looking statements include statements about expectations, beliefs, or intentions regarding product offerings, business, results of operations, strategies or prospects. You can identify such forward-looking statements by the words “expects,” “plans,” “anticipates,” “believes” “expects,” “intends,” “looks,” “projects,” “goal,” “assumes,” “targets” and similar expressions and/or the use of future tense or conditional constructions (such as “will,” “may,” “could,” “should” and the like) and by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from any future results expressed or implied by the forward-looking statements. These forward-looking statements are only predictions and reflect views as of the date they are made with respect to future events and financial performance. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including risks related to: Beyond Cancer’s ability to raise additional capital; the timing and results of future preclinical studies and clinical trials concerning the ultra-high concentration nitric oxide product candidate; the potential that regulatory authorities, including the FDA and comparable non-U.S. regulatory authorities, may not grant or may delay approval for the ultra-high concentration nitric oxide product candidate; the approach to discover and develop novel drugs, which is unproven and may never lead to efficacious or marketable products; Beyond Cancer’s ability to fund and the results of further preclinical studies and clinical trials of the ultra-high concentration nitric oxide product candidate; obtaining, maintaining and protecting intellectual property utilized by products; obtaining regulatory approval for products; competition from others using similar technology and others developing products for similar uses; dependence on collaborators; broad acceptance of the Company’s conclusive interpretation of its research results, potential delay or disruption in our operations resulting from military activity in and around Israel, and other risks, which may, in part, be identified and described in the “Risk Factors” section of Beyond Air’s most recent Annual Report on Form 10-K and other of its filings with the Securities and Exchange Commission, all of which are available on Beyond Air’s website. Beyond Cancer and Beyond Air undertake no obligation to update, and have no policy of updating or revising, these forward-looking statements, except as required by applicable law. CONTACTS: Corey Davis, PhDLifeSci Advisors, LLCCdavis@lifesciadvisors.com (212) 915-2577 Matt Johnson, Head of Corporate Development & StrategyBeyond Cancer, Ltd.Mjohnson@beyondcancer.com Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e1a6997c-bd08-4efc-b107-0ffab7113af4 https://www.globenewswire.com/NewsRoom/AttachmentNg/3dee4047-d027-4a84-ab17-27d1d3299051 https://www.globenewswire.com/NewsRoom/AttachmentNg/1116b00f-22ce-437a-bd6a-530f46399cd6