- The Nasdaq Panel has determined to continue the listing of the
Company's securities on The Nasdaq Stock Market and is closing this
matter
- Four upcoming milestones expected: data from trials in Suicidal
Bipolar Depression and Chronic Pain, NDA filing for IV Ketamine and
distribution of shares of HOPE Therapeutics to existing
shareholders
- Recent unanticipated achievements related to intravenous
ketamine and complicated Urinary Tract
Infection/pyelonephritis
RADNOR,
Pa., April 18, 2024 /PRNewswire/ -- NRx
Pharmaceuticals, Inc. (Nasdaq:NRXP) ("NRx Pharmaceuticals", "NRx",
the "Company"), a clinical-stage biopharmaceutical company, today
announced that (the "Company") has received confirmation from
Nasdaq that they have demonstrated compliance with the Nasdaq bid
price requirement in Listing Rule 5550(a)(2) and has determined to
continue the listing of the Company's securities on The Nasdaq
Stock Market and is closing this matter.
The Company is now in a position to reach four important
milestones:
- Release of top-line data from its trial of NRX-101 in Treatment
Resistant Suicidal Bipolar Depression
- Release of top-line data from Northwestern
University's Department of Defense funded trial of the main
component of NRX-101 in Chronic Pain
- NDA filing for IV Ketamine for treatment of Suicidal
Depression
- Planned distribution of shares of HOPE Therapeutics to existing
shareholders
"We greatly appreciate the support of our investors through the
process of protecting our Nasdaq listing," said Dr.
Jonathan Javitt, Founder, Chairman
and Chief Scientist of NRx Pharmaceuticals. "We are now
poised to reach an important series of milestones, have the
potential to be transformative to the company and dramatically
enhance shareholder value. In addition to the near-term readouts
and filings that we have identified for investors, recent
unanticipated advances in the formulation of new forms of ketamine
and potential use of NRX-101 in the treatment of complicated UTI
and pyelonephritis have significant potential to create value for
shareholders."
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 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.
NRx has 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
US 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 US FDA as part of a protocol to treat patients
with acute suicidality.
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (www.hopetherapeutics.com) is a
Specialty Pharmaceutical Company, wholly-owned by NRX
Pharmaceuticals focused on development and marketing of an
FDA-approved form of intravenous ketamine for the treatment of
acute suicidality and depression together with a digital
therapeutic-enabled platform designed to augment and preserve the
clinical benefit of NMDA-targeted drug therapy.
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. These statements include, among others,
statements regarding the proposed public offering and the timing
and the use of the proceeds from the offering. Forward-looking
statements generally include statements that are predictive in
nature and depend upon or refer to future events or conditions, and
include words such as "may," "will," "should," "would," "expect,"
"plan," "believe," "intend," "look forward," and other similar
expressions among others. These statements relate to future events
or to the Company's future financial performance, and involve known
and unknown risks, uncertainties and other factors that may cause
the Company's actual results to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. You
should not place undue reliance on forward-looking statements since
they involve known and unknown risks, uncertainties and other
factors which are, in some cases, beyond the Company's control and
which could, and likely will, materially affect actual results,
levels of activity, performance or achievements. Any
forward-looking statement reflects the Company's current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to the Company's operations,
results of operations, growth strategy and liquidity. More detailed
information about the Company and the risk factors that may affect
the realization of forward-looking statements is set forth in the
Company's most recent Annual Report on Form 10-K and other filings
with the Securities and Exchange Commission. Investors and security
holders are urged to read these documents free of charge on the
SEC's website at http://www.sec.gov. Except as may be required
by applicable law, The Company assumes no obligation to publicly
update or revise these forward-looking statements for any reason,
or to update the reasons actual results could differ materially
from those anticipated in these forward-looking statements, whether
as a result of new information, future events or otherwise.
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SOURCE NRx Pharmaceuticals, Inc.