HOPE Therapeutics receives Florida approval for Dura Medical acquisition

MIAMI - HOPE Therapeutics, a subsidiary of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP), a small-cap pharmaceutical company with a market capitalization of approximately $48 million, announced Friday it has received final clearance from Florida’s Agency for Health Care Administration (AHCA) to proceed with closing its acquisition of Dura Medical LLC. The company’s stock has shown resilience with an 18.8% return over the past year, according to InvestingPro data.

Dura Medical, founded in 2018, provides interventional psychiatry services including Ketamine Infusion Therapy, Transcranial Magnetic Stimulation, and Spravato treatments for conditions such as depression, PTSD, anxiety, and related disorders on Florida’s west coast.

The acquisition is expected to be accretive to revenue and EBITDA, according to the company’s press release statement. Dura Medical is currently revenue generating and EBITDA positive, which could help improve NRx’s current EBITDA position of -$17.45 million. InvestingPro analysis indicates that analysts expect the company to become profitable this year, with an EPS forecast of $0.23 for fiscal year 2025.

This regulatory approval represents a key step toward finalizing the transaction, which remains subject to standard closing conditions. The Dura Medical acquisition, along with previously announced acquisitions of Neurospa TMS and Cohen and Associates, will expand HOPE’s presence along Florida’s west coast.

Stephen Durand, founder of Dura Medical and a former nurse anesthetist in the US Army Reserve, established the company with a mission to reduce suicide rates in the community. Dura Medical provides services to both civilian patients and veterans through an agreement with the US Department of Veterans Affairs.

"We are pleased to receive this clearance from AHCA and will move expeditiously toward closing this landmark acquisition for HOPE," said Jonathan Javitt and Matthew Duffy, Co-CEOs of HOPE Therapeutics, in the announcement.

HOPE Therapeutics is building a network of interventional psychiatry clinics offering treatments for suicidal depression and related disorders, complemented by a digital therapeutic platform designed to augment NMDA-targeted drug therapy. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value assessment. For deeper insights into NRXP’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, along with 8 additional ProTips and over 30 financial metrics.

In other recent news, NRx Pharmaceuticals reported a net loss of $5.5 million for the first quarter of 2025, an improvement from a $6.5 million loss in the same period last year. The company remains optimistic about achieving profitability by the end of 2025, with expectations bolstered by potential FDA approvals and strategic expansion plans. Additionally, NRx Pharmaceuticals has submitted an Abbreviated New Drug Application to the FDA for NRX-100, a preservative-free intravenous ketamine formulation, which aims to address the ongoing U.S. drug shortage. The company is positioning this product to meet the growing demand in the ketamine market, which is projected to increase significantly by 2034.

Moreover, HOPE Therapeutics, a subsidiary of NRx Pharmaceuticals, announced a binding letter of intent to acquire a 49% stake in Cohen and Associates, an interventional psychiatry clinic in Florida. This acquisition is expected to be immediately accretive to revenue and EBITDA. These developments reflect NRx Pharmaceuticals’ strategic efforts to expand its market presence and improve its financial performance.

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