RADNOR, PA — NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) announced that its Chairman and Chief Scientist, Dr. Jonathan Javitt, will provide a corporate overview at the BIO CEO & Investor Conference, scheduled for February 26-27, 2024, in New York City. Joining him will be Matthew Duffy, the newly appointed co-CEO of HOPE Therapeutics, a wholly-owned subsidiary of NRx.
The BIO CEO & Investor Conference is a significant event where industry leaders converge to discuss advancements, strategies, and trends in biotechnology. It serves as a platform for companies like NRx and HOPE Therapeutics to present their latest developments to potential investors, partners, and analysts.
In conjunction with the presentation, NRx plans to file a proxy statement, pending board approval, outlining the share structure for its shareholders. The company seeks a shareholder advisory vote to support the planned share dividend for HOPE Therapeutics. This move follows consistent advice from public shareholders that the proposed share dividend and royalty coupon should only be distributed to shareholders and warrant-holders who agree not to engage in short sales of the company’s stock.
“Since our initial announcement of HOPE Therapeutics in December 2023, we have focused on establishing its basic corporate and board structure, securing manufacturing partnerships, producing initial batches of ketamine, establishing nationwide distribution, pharmacovigilance, and medical liaison partnerships,” said Dr. Javitt. “We are also initiating plans to pair ketamine therapy with a novel digital therapeutic to reinforce the effect of NMDA-targeted drug therapy in reducing suicidal ideation and depression.”
Ketamine is a powerful anesthetic and analgesic drug that has shown promise in treating severe depression and suicidal ideation. NMDA-targeted drug therapy refers to drugs that act on the NMDA receptor in the brain, which plays a crucial role in learning and memory.
NRx Pharmaceuticals is a clinical-stage biopharmaceutical company that develops therapeutics based on its NMDA platform for treating central nervous system disorders, including suicidal bipolar depression, chronic pain, and PTSD. The company’s lead product, NRX-101, has received FDA-designated Breakthrough Therapy status for suicidal treatment-resistant bipolar depression and chronic pain.
Recently, NRx announced plans to submit a New Drug Application for HTX-100 (IV ketamine), through HOPE Therapeutics, for treating suicidal depression. This decision was based on well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and newly obtained data from French health authorities.
HOPE Therapeutics focuses on developing and marketing an FDA-approved form of intravenous ketamine for treating acute suicidality and depression. It also plans to introduce a digital therapeutic-enabled platform designed to augment and preserve the clinical benefit of NMDA-targeted drug therapy.
As NRx Pharmaceuticals and HOPE Therapeutics prepare to present at the upcoming BIO CEO & Investor Conference, industry watchers will be keenly interested in their progress toward building lifesaving therapies. The companies’ commitment to pushing the boundaries of medical science could provide hope for patients grappling with severe mental health conditions.
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