RADNOR, PA — NRx Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, recently disclosed the sale of approximately 2.7 million shares of unregistered common stock along with an equal number of warrants to purchase additional common stock. The deal was struck with an accredited investor at a premium price of $0.38 per share, a 26.7% increase compared to the company’s most recent stock offering.
The transaction is part of a definitive purchase agreement subject to standard closing conditions. The investor also secured warrants to purchase common stock at $0.40 per share, valid for a term of five years. This strategic move comes as NRx prepares for a critical phase in its clinical trials, focusing on suicidal bipolar depression and chronic pain.
Stephen Willard, J.D., Chief Executive Officer of NRx Pharmaceuticals, acknowledged the importance of this investment amid challenging biotechnology capital markets. “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,” he said.
NRx is set to receive data from two significant clinical trials in the coming months. One focuses on suicidal bipolar depression, and the other targets chronic pain. The Pennsylvania-based company will also advance its HTX-100 program for treating suicidal depression through the launch of its subsidiary, Hope Therapeutics.
The shares and warrants purchased by the investor remain unregistered and were sold based on unsolicited investor interest rather than a general solicitation. Only accredited investors can purchase these securities, which cannot be sold in any jurisdiction without prior registration or qualification under the local securities laws.
NRx Pharmaceuticals is harnessing its NMDA platform to develop therapeutics for central nervous system disorders, specifically suicidal bipolar depression, chronic pain, and post-traumatic stress disorder (PTSD). The company’s leading product, NRX-101, is an FDA-designated investigational Breakthrough Therapy for suicidal treatment-resistant bipolar depression and chronic pain.
The company has partnered with Alvogen and Lotus for the development and marketing of NRX-101, which also shows promise as a non-opioid treatment for chronic pain and complicated urinary tract infection (UTI).
In addition to its ongoing work with NRX-101, the company is preparing to submit a New Drug Application for HTX-100 (IV ketamine). This drug is being developed through Hope Therapeutics for treating suicidal depression. The application is based on well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and new data from French health authorities.
Hope Therapeutics is a wholly-owned subsidiary of NRx Pharmaceuticals focused on developing and marketing an FDA-approved form of intravenous ketamine for treating acute suicidality and depression. It also offers a digital therapeutic-enabled platform designed to augment and preserve the clinical benefit of NMDA-targeted drug therapy.
The recent sale of unregistered common stock marks a significant step forward for NRx as it continues its quest to develop innovative treatments for serious mental health conditions. With the support of long-term investors, the company is poised to advance its groundbreaking clinical trials and bring new hope to patients worldwide.
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