RADNOR,
Pa., Feb. 26, 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 of a limited number of
shares. 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. 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.
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (www.hopetherapeutics.com) is a
wholly-owned subsidiary of NRX Pharmaceuticals focused on
development and marketing of an FDA-approved form of intravenous
ketamine for the treatment of acute suicidality and depression
together with a digital therapeutic-enabled platform designed to
augment and preserve the clinical benefit of NMDA-targeted drug
therapy.
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. These statements include, among others,
statements regarding the proposed public offering and the timing
and the use of the proceeds from the offering. Forward-looking
statements generally include statements that are predictive in
nature and depend upon or refer to future events or conditions, and
include words such as "may," "will," "should," "would," "expect,"
"plan," "believe," "intend," "look forward," and other similar
expressions among others. These statements relate to future events
or to the Company's future financial performance, and involve known
and unknown risks, uncertainties and other factors that may cause
the Company's actual results to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. You
should not place undue reliance on forward-looking statements since
they involve known and unknown risks, uncertainties and other
factors which are, in some cases, beyond the Company's control and
which could, and likely will, materially affect actual results,
levels of activity, performance or achievements. Any
forward-looking statement reflects the Company's current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to the Company's operations,
results of operations, growth strategy and liquidity. More detailed
information about the Company and the risk factors that may affect
the realization of forward-looking statements is set forth in the
Company's most recent Annual Report on Form 10-K 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.