In the news release, NRx Pharmaceuticals, Inc. Announces Pricing
of $1.5 Million Underwritten Public
Offering of Common Stock, issued 27-Feb-2024 by NRx Pharmaceuticals, Inc. over PR
Newswire, we are advised by the company that the correction removes
language inadvertently included in the headline and body of the
original press release. The complete, corrected release
follows:
NRx Pharmaceuticals, Inc. Announces Pricing of $1.5 Million
Underwritten Public Offering of Common Stock
RADNOR,
Pa., Feb. 27, 2024 /PRNewswire/ -- NRx
Pharmaceuticals, Inc. (Nasdaq: NRXP), ("NRx Pharmaceuticals" or the
"Company"), a clinical-stage biopharmaceutical company, today
announced the pricing of its underwritten public offering of shares
of its common stock (or pre-funded warrants in lieu thereof) at a
public offering price of $0.30 per
share, for aggregate gross proceeds of approximately $1,500,000, prior to deducting underwriting
discounts and other offering expenses. In addition, the Company has
granted the underwriters a 45-day option to purchase up to an
additional 750,000 shares of common stock (or pre-funded warrants
in lieu thereof) at the public offering price per share, less the
underwriting discounts to cover over-allotments, if any. The
offering is expected to close on February
28, 2024, subject to satisfaction of customary closing
conditions.
EF Hutton LLC is acting as the sole book-runner
for the offering.
NRx Pharmaceuticals intends to use the net
proceeds from the offering for working capital and general
corporate purposes. The Company additionally plans to use the net
proceeds from the offering to service current debt obligations,
rather than conveying stock for that purpose.
The securities are being offered by the Company
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.
The offering is being made only by means of a
prospectus supplement and accompanying prospectus. A prospectus
supplement describing the terms of the public offering will be
filed with the SEC and will form a part of the effective
registration statement. A preliminary prospectus supplement and
accompanying prospectus relating to this offering have been filed
with the SEC.
Copies of the prospectus supplement and the
accompanying prospectus relating to this offering may be obtained,
when available, on the SEC's website at http://www.sec.gov or by
contacting EF Hutton LLC Attention: Syndicate Department, 590
Madison Avenue, 39th Floor, New York,
NY 10022, by email at syndicate@efhuttongroup.com, or by
telephone at (212) 404-7002.
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 of 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 SEC. 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.