Beyond Air shares rise 10.48% intraday after selling 85% of NeuroNOS subsidiary to XTL Biopharmaceuticals for 19.9% equity, $1M cash, and up to $31.5M in milestone payments.

Beyond Air surged 10.48% intraday, driven by the announcement of selling 85% of its subsidiary NeuroNOS to XTL Biopharmaceuticals. The deal secured 19.9% equity in XTL, $1 million in cash, and up to $31.5 million in milestone payments. NeuroNOS specializes in autism and neuro-oncology therapies, holds FDA orphan drug designations for Phelan-McDermid syndrome and glioblastoma, and is led by a Nobel laureate-led scientific team.