RADNOR,
Pa., April 17, 2024 /PRNewswire/ -- NRx
Pharmaceuticals, Inc. (Nasdaq: NRXP)("NRx Pharmaceuticals"
or the "Company"), a clinical-stage biopharmaceutical company,
today announced that it intends to offer to sell shares of its
common stock in an underwritten public offering. All of the shares
of common stock are to be sold by the Company. The offering is
subject to market conditions and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
EF Hutton LLC is acting as the sole book-running manager for the
offering.
NRx Pharmaceuticals intends to use the net proceeds from the
offering for working capital and general corporate purposes,
including its plan to initiate a national treatment protocol and
safety database. The Company may also use the net proceeds
from the offering to repay certain outstanding debt.
The securities will be offered and sold pursuant to a "shelf"
registration statement on Form S-3 (File No. 333-265492), including
a base prospectus, filed with the U.S. Securities and Exchange
Commission (the "SEC") on June 9,
2022, as amended on June 14,
2022, and declared effective on June
21, 2022. A preliminary prospectus supplement and
accompanying prospectus describing the terms of the offering has
been or will be filed with the SEC and will be available on its
website at www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
this offering may also be obtained by contacting EF Hutton LLC
Attention: Syndicate Department, 590 Madison Avenue, 39th Floor,
New York, NY 10022, by email at
syndicate@efhutton.com, or by telephone at (212) 404-7002.
Before investing in this offering, interested parties should
read in their entirety the preliminary prospectus supplement and
the accompanying prospectus and the other documents that the
Company has filed with the SEC that are incorporated by reference
into such preliminary prospectus supplement and the accompanying
prospectus, which provide more information about the Company and
such offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Any offer, if at
all, will be made only by means of the prospectus supplement and
accompanying prospectus forming a part of the effective
registration statement.
About NRx Pharmaceuticals
NRx Pharmaceuticals is a clinical-stage biopharmaceutical
company developing therapeutics based on its NMDA platform for the
treatment of central nervous system disorders, specifically
suicidal bipolar depression, chronic pain and PTSD. The Company is
developing NRX-101, an FDA-designated investigational Breakthrough
Therapy for suicidal treatment-resistant bipolar depression and
chronic pain. NRx has partnered with Alvogen and Lotus around the
development and marketing of NRX-101 for the treatment of suicidal
bipolar depression. NRX-101 additionally has potential to act as a
non-opioid treatment for chronic pain, as well as a treatment for
complicated UTI.
NRx has recently announced plans to submit a New Drug
Application for HTX-100 (IV ketamine), through Hope Therapeutics,
in the treatment of suicidal depression, based on results of
well-controlled clinical trials conducted under the auspices of the
US National Institutes of Health and newly obtained data from
French health authorities, licensed under a data sharing agreement.
NRx was awarded Fast Track Designation for development of ketamine
(NRX-100) by the US FDA as part of a protocol to treat patients
with acute suicidality.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements which
involve substantial risks and uncertainties. Forward-looking
statements are often identifiable by the words "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "might," "objective," "ongoing," "plan," "predict,"
"project," "potential," "should," "will," or "would," or the
negative of these terms, or other comparable terminology intended
to identify statements about the future. These statements involve
known and unknown risks, uncertainties and other factors that may
cause the Company's actual results, levels of activity, performance
or achievements to be materially different from the information
expressed or implied by these forward-looking statements. Although
the Company believes that it has a reasonable basis for making each
forward-looking statement contained in this press release, the
Company cautions that these statements are based on a combination
of facts and factors currently known by the Company and its
expectations of the future, about which the Company cannot be
certain. Forward-looking statements are subject to considerable
risks and uncertainties, as well as other factors that may cause
the Company's actual results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by these forward-looking statements.
These risks and uncertainties include, without limitation, risks
and uncertainties related to whether or not the Company will be
able to raise capital through the sale of its securities; the final
terms of the proposed offering; market conditions; satisfaction of
customary closing conditions related to the public offering; the
Company's ability to maintain adequate liquidity and financing
sources; various risks related to the Company's business
operations; and other risks and uncertainties, including those
described within the section entitled "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2023, and other filings
with the Securities and Exchange Commission. Investors and security
holders are urged to read these documents free of charge on the
SEC's website at http://www.sec.gov. Except as may be required
by applicable law, The Company assumes no obligation to publicly
update or revise these forward-looking statements for any reason,
or to update the reasons actual results could differ materially
from those anticipated in these forward-looking statements, whether
as a result of new information, future events or
otherwise.
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SOURCE NRx Pharmaceuticals, Inc.