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WILMINGTON, Del. - NRx Pharmaceuticals, Inc. (NASDAQ:NRXP), a small-cap pharmaceutical company with a market capitalization of $34.74 million, has filed a patent application for NRX-100, a preservative-free intravenous ketamine formulation aimed at treating suicidal depression. The application, if approved, could extend NRX-100’s market exclusivity until 2045. According to InvestingPro data, analyst price targets for NRXP range from $18 to $46, suggesting significant potential upside from current levels.
The proposed patent encompasses pharmaceutical compositions, treatment methods, and manufacturing processes, and is currently under review by the US Patent and Trademark Office. NRX-100 is designed without the use of benzethonium chloride, a preservative linked to potential cytotoxic and neurotoxic effects. This aligns with the current governmental push for medications free from unnecessary or harmful preservatives.
Jonathan Javitt MD MPH, CEO of NRx Pharmaceuticals, stated that the company is dedicated to providing safer treatments for patients with suicidal depression. Javitt emphasized the importance of formulating therapies with patient well-being in mind, particularly for those in crisis. The company also highlighted its progress on submitting a New Drug Application (NDA) for NRX-100, following a recent FDA fee waiver. Financial metrics from InvestingPro indicate the company reported an EBITDA of -$19.7 million in the last twelve months, reflecting its development-stage status.
NRx Pharmaceuticals focuses on developing treatments for central nervous system disorders, including suicidal bipolar depression, chronic pain, and PTSD. Their product NRX-101 has received Breakthrough Therapy designation from the FDA for suicidal bipolar depression and chronic pain and is also being considered for Accelerated Approval.
The company’s subsidiary, HOPE Therapeutics, Inc., is creating a network of interventional psychiatry clinics to provide ketamine, transcranial magnetic stimulation (TMS), and other therapies for suicidal depression and related disorders. This effort is supported by a digital platform intended to enhance the clinical benefits of NMDA-targeted drug therapy. For deeper insights into NRXP’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which are available for over 1,400 US stocks.
This news is based on a press release statement and does not include any speculative or forward-looking statements beyond those provided by the company.
In other recent news, NRx Pharmaceuticals has increased its at-the-market equity offering to $20 million as part of an agreement with H.C. Wainwright & Co., LLC. Previously, the company had sold approximately $1.8 million of its common stock under this agreement. Additionally, HOPE Therapeutics, a subsidiary of NRx Pharmaceuticals, has secured a $2.5 million investment from a global medical device manufacturer to support its network of clinics focused on treating severe depression and PTSD. This investment is expected to facilitate the acquisition of clinics specializing in interventional psychiatry treatments such as ketamine therapy and Transcranial Magnetic Stimulation (TMS).
Moreover, BTIG analyst Thomas Schrader initiated coverage of NRx Pharmaceuticals with a Buy rating and a price target of $18.00, citing the company’s focus on developing treatments for suicidal ideation and behavior as a significant unmet need. HOPE Therapeutics has also announced a definitive agreement to acquire Dura Medical, enhancing its coverage across Florida with precision psychiatry services. Furthermore, HOPE Therapeutics plans to acquire a majority stake in Neurospa TMS Holdings, LLC, which operates six clinics in Florida, aiming to bolster its interventional psychiatry network. These acquisitions are expected to enhance HOPE’s revenue projections for 2025, as both Dura Medical and Neurospa are revenue-generating and EBITDA positive.
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