As of December 31, 2019, the Company was in a strong financial position, with a net working capital surplus of approximately US$37 million (CDN$48 million).
The company will enforce its rights under the agreement and defend its position vigorously,” it added in a statement.
House broker Peel Hunt estimated that "even in a worst-case scenario" removing BeyondAir's contribution from its sales forecasts without any cost offset, "Circassia still turns EBITDA positive in 2020, and maintains a positive cash balance across our forecast period".