WILMINGTON, Del. - NRx Pharmaceuticals Inc. (NASDAQ:NRXP) announced today its intention to offer shares of common stock in an underwritten public offering, according to a press release statement. The offering comes as the stock trades at $4.62, near its 52-week high of $4.86, following a remarkable 72% gain over the past year.
The clinical-stage biopharmaceutical company plans to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares sold in the offering on the same terms and conditions. The offering is subject to market and other conditions, with no assurance regarding completion or final terms. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value, and investors should note that short-term obligations exceed liquid assets—one of 13 key ProTips available for NRXP subscribers.
BTIG, LLC will serve as lead bookrunner for the offering, with Lucid Capital Markets, LLC acting as joint bookrunning manager.
The company stated it intends to use net proceeds for working capital and general corporate purposes to support its growth.
The shares will be offered pursuant to an effective shelf registration statement on Form S-3, including a base prospectus filed with the U.S. Securities and Exchange Commission and declared effective on December 22, 2025.
NRx Pharmaceuticals is developing therapeutics based on its NMDA platform for central nervous system disorders, including suicidal depression, chronic pain, and PTSD. The company is developing NRX-100, preservative-free intravenous ketamine, and NRX-101, oral D-cycloserine/lurasidone. With a market cap of $167 million and analysts setting price targets between $25 and $49, the company’s pipeline developments remain closely watched.
NRX-100 has received Fast Track Designation for treatment of suicidal ideation in depression, including bipolar depression. NRX-101 has been awarded Breakthrough Therapy Designation for treatment of suicidal bipolar depression.
The company has filed an Abbreviated New Drug Application and initiated a New Drug Application filing for NRX-100 for treatment of suicidal ideation in patients with depression, including bipolar depression.
In other recent news, NRX Pharmaceuticals Inc. reported a significant improvement in its financial performance for the first quarter of 2026. The company reduced its net loss by 74% year-over-year, recording a net loss of $1.4 million, or $0.04 per share, compared to $5.5 million, or $0.34 per share, in the same period last year. Despite increased operating expenses, NRX Pharmaceuticals achieved debt-free status and successfully raised $7 million in capital post-quarter. Additionally, HOPE Therapeutics, a subsidiary of NRX Pharmaceuticals, has installed Zeta Surgical’s FDA-cleared TMS Navigation System at its West Palm Beach clinic. This system provides image-guided Transcranial Magnetic Stimulation for patients with Major Depressive Disorder and other neurological conditions. HOPE is the first commercial site to deploy this technology. These developments reflect the company’s ongoing strategic initiatives and advancements in its product offerings.
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