- Industry veteran with extensive experience in key areas
of focus
- Interim-CFO Richard Narido
to focus on HOPE Therapeutics acquisition
opportunities
WILMINGTON, Del.,
Nov. 18,
2024 /PRNewswire/ -- NRx Pharmaceuticals, Inc.
(Nasdaq: NRXP) ("NRx Pharmaceuticals", the "Company"), a
clinical-stage biopharmaceutical company, today announced it has
appointed Michael Abrams as its
permanent Chief Financial Officer. Mr. Abrams
succeeds Interim-CFO Richard
Narido, who will continue to support the Company's financial
function and other projects.
"We are delighted to welcome Mike to the NRx team. Mike's
combination of public company CFO experience in the
biotechnology sector, together with investment banking expertise is
ideally suited to NRx's needs as we aim to become a revenue
generating, profitable biotechnology company," said Dr.
Jonathan Javitt, Chairman, CEO and Chief Scientist of NRx
Pharmaceuticals. "Additionally, we thank Rich for his outstanding
service to the Company as our Interim-CFO and look forward to
his ongoing contributions as HOPE Therapeutics continues to grow
its business."
Mr. Abrams commented "I'm delighted to join NRx at this
critical juncture in the Company's evolution. Evolving from a
pre-revenue biotechnology company into a profitable enterprise is
both a tremendous opportunity and challenge. I look forward to
helping grow the Company with the NRx team."
Michael Abrams is a senior
finance professional with almost three decades of experience as an
executive officer, investment banker, director and senior advisor,
which includes serving as the Chief Financial Officer of Arch
Therapeutics, RiseIT Solutions. and FitLife Brands. Mr. Abrams
has deep experience across multiple functional areas including, but
not limited to, financial operations, accounting, mergers and
acquisitions, financial engineering, capital raising and
shareholder communications. He earned his MBA with Honors from the
University of Chicago Booth School of
Business following his BBA with Honors from the University of Massachusetts at Amherst, where he
was named a William F. Field alumni scholar.
About NRx Pharmaceuticals, Inc.
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 plans to file an NDA for Accelerated Approval for
NRX-101 in patients with bipolar depression and suicidality or
akathisia. 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 NRX-100 (IV ketamine) for 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
development stage healthcare delivery company developing a
best-in-class network of precision psychiatry clinics that intends
to offer ketamine transcranial magnetics stimulation (TMS) and
other lifesaving therapies to patients with suicidal depression and
related disorders, 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, liquidity, Hope
Therapeutic's ability to consummate the acquisitions of providers
for its national network, the Company's ability to raise adequate
capital to fund the Hope Therapeutics acquisitions, and the
Company's ability to spin-off Hope Therapeutics. 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.
For further information:
Matthew Duffy
Chief Business Officer, NRx Pharmaceuticals
Co-Chief Executive Officer, HOPE
Therapeutics, Inc.
mduffy@nrxpharma.com
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SOURCE NRx Pharmaceuticals, Inc.