NRx Pharmaceuticals Closes Common Stock Funding Agreement

March 1, 2024

https://www.prnewswire.com/news-releases/nrx-pharmaceuticals-announces-definitive-purchase-agreement-for-common-unregistered-shares-at-0-38-per-share-302076721.html

DENVER, Colo., Mar. 1, 2024 (247marketnews.com)- NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) stated, this morning, that it received approximately $1.0 million in cash, from an existing investor, who purchased approximately 2.7 million shares of unregistered common stock at $0.38 per share, along with an equal number warrants to purchase common stock at $0.40 per share; the term on these warrants is five (5) years.

The $0.38 per share price represents a 26.7% premium to the company’s most recent stock offering and it’s trading at $0.37, up $0.011 (+3.0641%), in this morning’s premarket.

“In a very difficult biotechnology capital market, we are pleased to benefit from the support of committed long-term investors, particularly in their willingness to purchase unregistered shares for the purpose of long-term appreciation.  In the coming months, we expect to receive data from two important clinical trials, one in Suicidal Bipolar Depression and one in Chronic Pain, as well as advance our HTX-100 program in Suicidal Depression with the launch of Hope Therapeutics,” said Stephen Willard, J.D., Chief Executive Officer of NRx Pharmaceuticals, Inc.

The about NRx Pharmaceuticals section states, “NRx Pharmaceuticals is a clinical-stage biopharmaceutical company developing therapeutics based on its NMDA platform for the treatment of central nervous system disorders, specifically suicidal bipolar depression, chronic pain and PTSD. The Company is developing NRX-101, an FDA-designated investigational Breakthrough Therapy for suicidal treatment-resistant bipolar depression and chronic pain. NRx has partnered with Alvogen and Lotus around the development and marketing of NRX-101 for the treatment of suicidal bipolar depression. NRX-101 additionally has potential to act as a non-opioid treatment for chronic pain, as well as a treatment for complicated UTI.”

 

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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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