RADNOR, Pa. - NRx Pharmaceuticals, Inc. (NASDAQ: NRXP), a clinical-stage biopharmaceutical firm, announced today its intention to conduct an underwritten public offering of its common stock. The completion and specifics of the offering, including the number of shares and pricing, are dependent on prevailing market conditions and there is no certainty as to the outcome or timing.
EF Hutton LLC is overseeing the process as the sole book-running manager for the offering. The company aims to allocate the net proceeds towards working capital, general corporate purposes, and potentially to repay certain existing debts.
The shares will be available under a previously filed "shelf" registration statement with the U.S. Securities and Exchange Commission (SEC), which was declared effective on June 21, 2022. Interested investors can obtain the preliminary prospectus supplement and accompanying prospectus from the SEC's website or directly from EF Hutton LLC.
NRx Pharmaceuticals is engaged in developing treatments for central nervous system disorders through its NMDA platform. The Company's leading investigational drug, NRX-101, is currently being developed for suicidal bipolar depression and chronic pain and has been granted Breakthrough Therapy designation by the FDA for treatment-resistant bipolar depression.
The announcement of the proposed offering comes as NRx Pharmaceuticals continues to advance its drug development pipeline, including plans to submit a New Drug Application for HTX-100 (IV ketamine) for the treatment of suicidal depression.
These statements are subject to risks and uncertainties that could affect the actual results and the realization of the offering. The Company's recent filings with the SEC provide more detailed information about these risks.
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