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MIAMI - HOPE Therapeutics, Inc., a subsidiary of NRx Pharmaceuticals, Inc. (NASDAQ: NRXP), has announced the signing of a definitive agreement to purchase the Kadima Neuropsychiatry Institute in La Jolla, California. The acquisition is poised to enhance HOPE’s interventional psychiatry clinics network, which focuses on delivering treatments for central nervous system (CNS) disorders. With a current market capitalization of $35.18 million, NRx Pharmaceuticals has shown recent momentum, gaining over 8% in the past week according to InvestingPro data.
Kadima, known for its pioneering work in bringing ketamine treatment from research to clinical practice, offers a suite of CNS disorder treatments, including ketamine, Spravato, transcranial magnetic stimulation (TMS), and medication management. Under the leadership of Dr. David Feifel, the institute has been a lead site for clinical trials in CNS and psychedelic research. Dr. Feifel, who will join HOPE as Chief Medical Innovation Officer upon the acquisition’s closure, is recognized for his expertise in interventional psychiatry.
The acquisition is expected to be accretive to revenue and EBITDA for NRx and HOPE. Kadima’s profitable operations and forecasted growth are anticipated to contribute positively to HOPE’s financial performance. The transaction is subject to standard closing conditions and finalization of financing, with further details to be disclosed subsequently. This development comes as InvestingPro analysis shows NRx faces financial challenges with an EBITDA of -$19.7 million and a current ratio of 0.15, indicating potential liquidity concerns. Investors can access comprehensive analysis and additional insights through InvestingPro’s detailed research report, one of 1,400+ available for top US stocks.
NRx Pharmaceuticals is a biopharmaceutical company developing treatments for CNS disorders, including suicidal bipolar depression, chronic pain, and PTSD. Its NMDA platform has yielded NRX-101, a Breakthrough Therapy-designated investigational drug for suicidal treatment-resistant bipolar depression and chronic pain. NRx has initiated an NDA filing for NRX-100, a preservative-free IV ketamine, for suicidal depression treatment.
The acquisition aligns with HOPE’s strategy to redefine mental healthcare access and delivery, integrating science with community-based care. Co-CEOs of HOPE, Dr. Jonathan Javitt and Matthew Duffy, expressed their commitment to expanding a clinic network that leverages cutting-edge treatments for mental health disorders.
This news article is based on a press release statement from HOPE Therapeutics and NRx Pharmaceuticals. Investors should note that NRx’s next earnings report is scheduled for May 19, 2025. InvestingPro subscribers have access to 7 additional key insights about NRXP’s financial health and market position, helping them make more informed investment decisions.
In other recent news, NRx Pharmaceuticals has filed a patent application for NRX-100, a preservative-free intravenous ketamine formulation aimed at treating suicidal depression, which could extend market exclusivity until 2045 if approved. The company is also increasing its at-the-market equity offering to $20 million under an agreement with H.C. Wainwright & Co., LLC, as part of its ongoing efforts to raise capital. HOPE Therapeutics, a subsidiary of NRx Pharmaceuticals, secured a $2.5 million investment from a global medical device manufacturer to support its network of clinics focusing on severe depression and PTSD. Additionally, HOPE Therapeutics has signed a definitive agreement to acquire Dura Medical, enhancing its coverage across the West Coast of Florida with treatments like Ketamine Therapy and Transcranial Magnetic Stimulation (TMS). Analyst firm BTIG initiated coverage of NRx Pharmaceuticals with a Buy rating and an $18 price target, noting the company’s focus on developing treatments for suicidal ideation and behavior, an area with significant unmet needs. NRx Pharmaceuticals is actively pursuing FDA approval for its investigational drugs NRX-100 and NRX-101, with expectations of feedback from the FDA potentially leading to approvals by the end of 2025. The company is also establishing the HOPE network of treatment centers for patients with ASIB and depression, planning to expand significantly in the coming years.
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