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NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Reports First Quarter 2025 Financial Results and Provides Corporate Update
Company has continued to advance its previously announced plan to obtain FDA approval for two new drugs and to develop a network of clinics focused on
About this update from Nrx Pharmaceuticals, Inc.
[{"type":"text","content":"Company has continued to advance its previously announced plan to obtain FDA approval for two new drugs and to develop a network of clinics focused on neuroplastic therapies to treat severe and suicidal depression, PTSD, and related conditions. Clinic acquisition financing is at the HOPE Therapeutics level and non-dilutive to NRXP shareholdersIn January 2025 completed the third tranche of a convertible note offering and registered direct equity offering to an institutional investor on favorable terms to the Company; expected to provide sufficient cash to support operations through the end of 2025. Deployed capital to meet the objectives listed belowNRX-100 (preservative-free IV ketamine) planned to complete New Drug Application (NDA) filing in Q2 2025, with expected 2025 PDUFA date; $4.3 million NDA submission fee waived by FDAU.S. patent application for NRX-100 filed in May, potentially providing exclusivity to 2045 as the only preservative free ketamine formulation available in the USNRX-101 remains on track for NDA submission under Accelerated Approval, with anticipated PDUFA date in 2025; manufacturing stability data, toxicity package and clinical data support regulatory readinessHOPE Therapeutics advances clinic network with the planned acquisition, under definitive agreements or binding LOI, of Kadima Neuroscience Institute, Dura Medical, and Neurospa TMS Holdings; clinics expected to represent approximately $15 million in forward looking, pro-forma revenuesHOPE has also identified and entered into negotiations with four additional clinical entities (not yet publicly identified) estimated to represent ~$20 million in potential pro-forma revenueIn partnership with BTIG, implemented a broad rollup acquisition initiative. BTIG is a leading global financial services firm specializing in investment banking, institutional trading, research, and related brokerage services for strategic growth opportunitiesHOPE executed a term sheet for debt financing to support acquisition of HOPE Therapeutics clinics and term sheet for a strategic investment, totaling $10.3 million in acquisition capitalWILMINGTON, Del., May 15, 2025 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) (\"NRx Pharmaceuticals\", the \"Company\"), a clinical-stage biopharmaceutical company, today announced financial results for the quarter ended March 31, 2025...