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NRx Pharmaceuticals, Inc. (NRXP) Stock Soared in Premarket. Here’s the Reason

NRx Pharmaceuticals, Inc. (NRXP) is a leading clinical-stage biotechnology company focusing on the therapeutics for central nervous system disorders and chronic pulmonary diseases. The lead products of the company include investigational drug ZYESAMI (aviptadil) for patients with COVID-19 related respiratory failure. Another pre-commercial phase 3 product of the company is NRX100/101 used to treat patients with suicidal bipolar depression.

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The price of NRXP stock during the regular trading on December 28, 2021 with a 4.66 decline was $4.60. At last check in the premarket on December 29, 2021, the stock remarkably surged by 12.44%.

 NRXP: Events and Happenings

On December 29, 2021, NRXP reported about filing a Breakthrough Therapy Designation (BTD) request to FDA. It is currently focused on the patients with COVID-19 associated critical respiratory failure and the patients who are at immediate risk of death. On December 15, 2021, NRXP reported that Nasdaq had added NRXP to the its Biotechnology Index (NBI) with effect from December 20, 2021. NBI measures the performance of biotechnology and pharmaceutical companies under it.

On December 14, 2021, NRXP reported a new safety update on ZYESAMI, tested in the ACTIV-3b Critical Care Phase 3 study. Analyzing it third time, the Independent Data Safety Monitoring Board for the trials detected no safety concerns. A total of 348 patients were reviewed.  On December 09, 2021, NRXP reported about the conclusion of management-level meetings in Hungary. The meetings will eventually lead to utilization of ZYESAMI in Hungary. Also, the crucial clinical trial of the BriLife COVID-19 vaccine gets started.

On December 06, 2021, NRXP reported that that the Data Safety Monitoring Board supervising the phase 2 clinical trials of the BriLife vaccine had finished its safety analysis. On November 29, 2021, NRXP reported that it had completed a clinical evidence analysis to identify considerable improvement with ZYESAMI post-treatment.

NRXP: Key Financials

On November 16, 2021, NRXP reported its financial results for the quarter ended September 30, 2021. Some of the key highlights are as follows

Net Loss per Share

Basic and diluted net loss for the third quarter 2021 was $20.8 million, or $0.40 per share, in comparison to the net loss of $5.2 million, or $0.15 per share, for the same period prior year.

Total Current Assets

The total current assets reported for third quarter 2021 were $45 million as compared to the same period of 2020 when the assets were $0.097 million.

On November 12, 2021, NRXP reported that the top management of the company presented at Virtual H.C. Wainwright 7th Annual Conference on November 15, 2021. On November 5, 2021, NRXP subsidiary had finalized a business assignment with the Luxembourg Ministry of the Economy with regards to establishment of vaccine production capacity to serve wider markets.

Conclusion

Although the company’s stock is 44% down compares to past month, yet it is showing distinguished progress in the premarket session. The likely reason of the soaring stock price is filing of BTD for COVID patients. The analysts are expectant that the current and pipeline projects will prove highly beneficial for the company.

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