Nrx Pharmaceuticals Inc Stock Price, News & Analysis

HOPE Therapeutics, a wholly-owned subsidiary of NRx Pharmaceuticals (NASDAQ:NRXP), has secured a $27 million funding transaction with Smith & Sauer, The agreement includes an immediate $2 million investment in NRx common stock and a commitment for $25 million in HOPE's Series A Preferred Stock, with $6.75 million due by February 7, 2025, and the remaining $18.25 million by April 1, 2025.

The funding will support HOPE's strategy to acquire Interventional Psychiatry Clinics, starting with Kadima Neuropsychiatry in La Jolla, CA. The company aims to achieve approximately $100 million in pro-forma revenues by end-2025 through these acquisitions. HOPE plans to establish a nationwide chain of facilities combining ketamine and psychedelic medications with Transcranial Magnetic Stimulation and FDA-approved Digital Therapeutics, focusing on treating severe depression, PTSD, and related disorders.

NRx Pharmaceuticals (NASDAQ:NRXP) has secured $8.9 million in financing through a combination of equity and debt arrangements with Anson Funds. The deal includes $3.5 million in above-market equity through a registered direct offering of common stock at $2.88 per share, and $5.4 million in senior secured convertible notes with a 15-month term.

The company will issue approximately 1.2 million shares and an equal number of warrants exercisable at $2.88 per share. The notes, issued at an 8% discount with 6% annual interest, will be initially convertible at $3.78 per share.

The funding is expected to support NRX-100 (ketamine) and NRX-101 New Drug Applications, launch HOPE Therapeutics, and potentially fund operations into 2026. The company aims to reach profitability through projected product sales and potential non-dilutive funding.

NRx Pharmaceuticals (NASDAQ: NRXP) has successfully regained compliance with Nasdaq's minimum market value of listed securities (MVLS) requirement. The company received written confirmation from Nasdaq Listing Qualifications Staff on January 17, 2025, stating that the compliance issue has been resolved.

The company had previously been notified of non-compliance on August 6, 2024, for failing to maintain an MVLS of at least $35 million over 30 consecutive trading days. To regain compliance, NRXP needed to maintain an MVLS of at least $35 million for a minimum of 10 consecutive trading days, which was achieved on January 16, 2025.

NRx Pharmaceuticals (NASDAQ:NRXP) has announced key appointments to its Board of Directors. Michael Taylor, with over 25 years of experience in global credit markets, joins as a Board Member and Board Designee of Smith & Sauer, following their recent financing. Taylor's extensive background includes roles as Partner at Adi Dassler International Family Office and Managing Director at Oppenheimer & Co.

Anita Nunes, CEO and Co-Founder of Smith & Sauer, joins as Board Observer and will be appointed to the Board of Directors of HOPE Therapeutics, a wholly owned subsidiary of NRx. Nunes brings over 20 years of experience in transformative growth and has led Smith and Sauer's recent $27 million investment in Hope Therapeutics and NRx Pharmaceuticals. Her background spans artificial intelligence, healthcare, and strategic consulting, with experience at companies like McKesson and Gilead.

NRx Pharmaceuticals (NASDAQ:NRXP) and its subsidiary HOPE Therapeutics announced that Dr. David Feifel, founder of Kadima Neuropsychiatry Institute, was featured on CNN's program "'Special K': The Science & Stigma of Ketamine" hosted by Dr. Sanjay Gupta. Kadima is identified as HOPE's planned flagship clinic acquisition, pending completion of financial audits and standard closing conditions.

Dr. Feifel, who is set to become HOPE's Chief Medical Innovation Officer following the planned acquisition, advocated for ketamine use in appropriate patients under proper psychiatric supervision in a controlled setting. This follows his previous appearance on Dr. Gupta's program "The Wild West of Ketamine Treatment" in August. Dr. Feifel emphasized the importance of providing access to psychiatric centers of excellence for depression treatment using ketamine and other advanced therapies under high medical care standards.

NRx Pharmaceuticals (NASDAQ:NRXP) has filed an application to uplist from the NASDAQ Capital Market to the NASDAQ Global Market. The uplisting requires the company to maintain specific listing requirements, including a market value of listed securities above $75 million and a minimum bid price of $4.00 for 90 consecutive trading days. The company has disclosed having 15.7 million outstanding shares of common stock, which will be used to calculate its market capitalization. Management believes this move could potentially improve shareholder liquidity and meet institutional investment requirements.

NRx Pharmaceuticals (NASDAQ:NRXP) and its subsidiary HOPE Therapeutics conducted an investor workshop at Mar-A-Lago Club focused on HOPE's expansion plans for interventional psychiatry practices. The event, attended by Qualified Institutional Buyers, highlighted several key initiatives:

The company secured a $25 million financing commitment from Smith and Sauer, which is expected to leverage bank financing to secure $100 million in HOPE clinic revenue. The expansion strategy includes plans to add 50 clinics in 2026 and 100 clinics in 2027.

The discussion covered HOPE's mission to build an international network of EBITDA-positive interventional psychiatry clinics, recent clinic acquisitions, and plans for implementing CRM-based technology and telepsychiatry systems. A follow-up meeting is scheduled for late January 2025, expanding to include Accredited Investors.

NRx Pharmaceuticals (NASDAQ:NRXP) and its subsidiary HOPE Therapeutics have announced that Dr. Jonathan Javitt and Dr. David Feifel will deliver a keynote address at the 8th Annual Neuroscience Innovation Forum in San Francisco on January 12th, 2025. The presentation, titled 'Beyond Ketamine: Combined Interventional Treatment of Suicidal Depression and PTSD,' will focus on integrating NMDA-targeted drug therapy with emerging treatments like Transcranial Magnetic Stimulation and Digital Therapeutics.

Key developments include:

• A binding term sheet for $27 Million in anticipated funding for HOPE clinic acquisitions and pharmaceutical operations
• Planned acquisitions of Kadima Neuropsychiatry Institute and Dura Medical
• Initiation of NDA filing for NRX-100 (IV ketamine) for suicidal depression treatment

Upcoming milestones for Q1 2025 include the completion of NRX-100 filing, targeted NDA filing for NRX-101, and further HOPE clinic acquisitions.

HOPE Therapeutics and NRx Pharmaceuticals (NASDAQ:NRXP) have announced a binding term sheet with Smith & Sauer for $27 million in funding. The deal includes a $25 million Series A Preferred Stock purchase in HOPE Therapeutics, convertible into 1/3 of fully diluted equity, with a 15% preferred dividend for planned clinic acquisitions. Additionally, there's a $2 million investment in NRx equity at $2.75 per share.

The agreement includes warrants for 3 million unregistered NRx common stock shares at $3.00 per share with a 24-month term. Smith & Sauer will receive royalties on NRx product sales and will join both companies' Boards of Directors. The capital is expected to support HOPE clinic acquisitions and NRx Pharmaceutical operations, with management anticipating substantial revenue from clinic acquisitions in 2025.