NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) Reports Comments by Strategic Partner Lotus Pharmaceutical Co. Ltd. (1975.TW) in Recent Financial Report

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Feb 09, 2024, 08:30 ET

Companies continue to work collaboratively to advance NRX-101 in bipolar depression with suicidality
Lotus notes that NRx has "achieved a significant milestone by completing enrollment for its phase 2b/3 trial of NRX-101 in suicidal treatment-resistant bipolar depression. The readout for this trial is anticipated in Q2 of this year."
Productive partnership aims to accelerate NRX-101 to patients in need
Lotus further reported revenues of NT$1996, a 45% month over month increase.

RADNOR, Pa., Feb. 9, 2024 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) ("NRx Pharmaceuticals", the "Company"), a clinical-stage biopharmaceutical company, today announced that its Asia Pacific strategic partner Lotus Pharmaceutical Co. Ltd (1975.TW) identified enrollment completion of the NRx clinical trial in bipolar depression as a material event in is February 7 financial filing.[1] Lotus provides the Asia Pacific component of NRx's global partnership with Alvogen, Inc.

Lotus reported in the accompanying press release that "Lotus Pharmaceutical's strategic partner, NRX Pharmaceuticals, has achieved a significant milestone by completing enrollment for its phase 2b/3 trial of NRX-101 in suicidal treatment-resistant bipolar depression. The readout for this trial is anticipated in Q2 of this year."

"We at NRx are honored that Lotus has focused its resources on helping us advance NRX-101 for the benefit of patients in the Asia Pacific region. As reported by the World Health Organization, suicidal depression is a significant public health crisis in Pacific rim countries[2], just as it is in the US," said Stephen Willard, Chief Executive Officer of NRx Pharmaceuticals. "We recently held very productive meetings at the JP Morgan conference in San Francisco; we share a mutual commitment to bringing a lifesaving treatment to patients who have been excluded from the clinical trials of all known antidepressants and whose only approved treatment today is electroshock therapy."

NRx anticipates further updates regarding its global partnerships in the coming days.

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 NRX-100 (IV ketamine) 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.

Cautionary Note Regarding Forward-Looking Statements

This announcement of NRx Pharmaceuticals, Inc. includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995, which may include, but are not limited to, statements regarding our financial outlook, product development, business prospects, and market and industry trends and conditions, as well as the Company's strategies, plans, objectives, and goals. These forward-looking statements are based on current beliefs, expectations, estimates, forecasts, and projections of, as well as assumptions made by, and information currently available to, the Company's management.

The Company assumes no obligation to revise any forward-looking statement, whether as a result of new information, future events or otherwise. Accordingly, you should not place reliance on any forward-looking statement, and all forward-looking statements are herein qualified by reference to the cautionary statements set forth above.

¹ Lotus Reported Unaudited January Revenues of NT$1,996 Million, surging 45.4% MoM - Lotus (lotuspharm.com)
² https://apps.who.int/gho/data/node.main.MHSUICIDEASDR?lang=en

SOURCE NRx Pharmaceuticals, Inc.