- Management believes uplisting has the potential to provide
shareholders with improved liquidity
- Requires NRx Pharmaceuticals to meet certain listing
requirements
- Company has advised NASDAQ that current shares outstanding is
15.7 million
WILMINGTON, Del., Jan. 13,
2025 /PRNewswire/ -- NRx Pharmaceuticals, Inc.
(NASDAQ: NRXP) ("NRx", the "Company"), a clinical-stage
biopharmaceutical company, today announced it has applied to NASDAQ
to uplist the Company's securities to the NASDAQ Global Market
(NASDAQ GM).
Listing on the NASDAQ Global Market requires the Company to meet
published requirements to successfully list on the NASDAQ Global
Market, including maintaining a market value of listed securities
(MVLS) above $75 million and a
minimum bid price of at least $4.00
for 90 consecutive trading days. The Company has advised
NASDAQ that it currently has 15.7 million outstanding shares of
common stock, which will inform the calculation of the Company's
market capitalization.
"We have applied for this uplisting to the NASDAQ Global Market,
which is subject to meeting published listing requirements, with
the goals of enhancing liquidity for NRx shareholders and meeting
the investment requirements of institutional funds that require
listing on the Global Market," said Dr. Jonathan Javitt, Founder, Chairman and
CEO. "Our aim remains to address suicidal depression
and PTSD in the US and elsewhere, and to bring hope to life."
About NRx Pharmaceuticals, Inc.
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 plans to file an NDA for Accelerated Approval for
NRX-101 in patients with bipolar depression and suicidality or
akathisia. 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 initiation of filing a New Drug
Application for NRX-100 (IV ketamine) for 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.
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 closing the acquisition of Kadima and
obtaining financing necessary to consummate the acquisition.
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,
liquidity, and the Company's ability to meet the listing standards
of the NASDAQ Global Market, including maintaining a minimum bid
price of at least $4.00 per share for
at least 90 consecutive days. 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.
For further information:
Matthew Duffy
Chief Business Officer, NRx Pharmaceuticals
Co-Chief Executive Officer, HOPE
Therapeutics, Inc.
mduffy@nrxpharma.com
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SOURCE NRx Pharmaceuticals, Inc.
