NRx Pharmaceuticals (NASDAQ:NRXP) Receives Notice from Nasdaq that the Company has Demonstrated Compliance with the Bid Price Requirement

News provided by

Apr 18, 2024, 08:32 ET

The Nasdaq Panel has determined to continue the listing of the Company's securities on The Nasdaq Stock Market and is closing this matter
Four upcoming milestones expected: data from trials in Suicidal Bipolar Depression and Chronic Pain, NDA filing for IV Ketamine and distribution of shares of HOPE Therapeutics to existing shareholders
Recent unanticipated achievements related to intravenous ketamine and complicated Urinary Tract Infection/pyelonephritis

RADNOR, Pa., April 18, 2024 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (Nasdaq:NRXP) ("NRx Pharmaceuticals", "NRx", the "Company"), a clinical-stage biopharmaceutical company, today announced that (the "Company") has received confirmation from Nasdaq that they have demonstrated compliance with the Nasdaq bid price requirement in Listing Rule 5550(a)(2) and has determined to continue the listing of the Company's securities on The Nasdaq Stock Market and is closing this matter.

The Company is now in a position to reach four important milestones:

HOPE Therapeutics, Inc. (PRNewsfoto/NRx Pharmaceuticals, Inc.)

Release of top-line data from its trial of NRX-101 in Treatment Resistant Suicidal Bipolar Depression
Release of top-line data from Northwestern University's Department of Defense funded trial of the main component of NRX-101 in Chronic Pain
NDA filing for IV Ketamine for treatment of Suicidal Depression
Planned distribution of shares of HOPE Therapeutics to existing shareholders

"We greatly appreciate the support of our investors through the process of protecting our Nasdaq listing," said Dr. Jonathan Javitt, Founder, Chairman and Chief Scientist of NRx Pharmaceuticals. "We are now poised to reach an important series of milestones, have the potential to be transformative to the company and dramatically enhance shareholder value. In addition to the near-term readouts and filings that we have identified for investors, recent unanticipated advances in the formulation of new forms of ketamine and potential use of NRX-101 in the treatment of complicated UTI and pyelonephritis have significant potential to create value for shareholders."

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 Specialty Pharmaceutical Company, wholly-owned by 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.

SOURCE NRx Pharmaceuticals, Inc.