NRx Pharmaceuticals (NASDAQ: NRXP), a clinical-stage biopharmaceutical company, has announced the pricing of its underwritten public offering. The offering is comprised of shares of NRXP common stock at $3.30 per share, resulting in gross proceeds of an estimated $2 million before standard underwriting deductions and other expenses. According to the announcement, NRx Pharmaceuticals also granted a 45-day option to underwriters. The option allows the purchase of up to 91,050 additional shares of common stock to cover overallotments; the shares will be available at the public offering price less the underwriting discounts. NRx Pharmaceuticals anticipates using funds from the offering for working capital, general corporate purposes (such as initiating a national treatment protocol and safety database) and potential repayment of outstanding debt. EF Hutton LLC is acting as the sole book-runner for the offering.
To view the full press release, visit https://ibn.fm/xyHn2
About NRx Pharmaceuticals
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 post-traumatic stress disorder (“PTSD”). The company is developing NRX-101, a U.S. Food and Drug Administration (“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 nonopioid treatment for chronic pain, as well as a treatment for complicated UTI. NRx recently announced plans to submit a New Drug Application for HTX-100 (IV ketamine) through Hope Therapeutics in the treatment of suicidal depression, based on results of well-controlled clinical trials conducted under the auspices of the U.S. National Institutes of Health and newly obtained data from French health authorities, licensed under a data sharing agreement. NRx was awarded Fast Track Designation for development of ketamine (NRX-100) by the FDA as part of a protocol to treat patients with acute suicidality. For more information about the company, please visit www.NRxPharma.com.
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