**NRX Pharmaceuticals Reports Fiscal Year 2025 Results, Advances Pipeline**

NRX Pharmaceuticals, Inc. (Nasdaq: NRXP) has released its financial results for the fiscal year ended December 31, 2025, reporting revenue of $1.2 million, primarily from patient services provided by its HOPE Therapeutics subsidiary following the acquisition of Dura Medical in September 2025. This marks a significant shift from the previous year, where the company reported no revenue. The company's net loss for 2025 was $28.6 million, compared to a net loss of $25.1 million in 2024. This increase in net loss was attributed to higher operating expenses, partially offset by a $5.4 million gain on the exercise of warrants.

Operating expenses for 2025 totaled $17.4 million, a decrease from $18.5 million in 2024. Research and development expenses decreased from $6.2 million to $3.8 million, while selling, general, and administrative expenses decreased slightly from $13.5 million to $13.1 million. The company's cash and cash equivalents stood at $7.8 million as of December 31, 2025, a substantial increase from $1.4 million at the end of 2024. This increase was primarily due to $23.3 million in net cash provided by financing activities, including proceeds from common stock issuances and warrant exercises. The company's aggregate market value of common stock held by non-affiliates as of June 30, 2025, was $57.4 million.

Operationally, NRx Pharmaceuticals made significant strides in advancing its drug pipeline. The company filed an Abbreviated New Drug Application (ANDA) for KETAFREE™, a preservative-free formulation of ketamine, and anticipates commercial sales in Q3 2026, pending FDA approval. A New Drug Application (NDA) for NRX-100 is expected to be filed in Q2 2026, following the FDA's Fast Track Designation for the treatment of suicidal ideation in depression. Furthermore, an NDA filing for NRX-101 has been initiated, with the company seeking accelerated approval for its use in patients with bipolar depression exhibiting suicidal ideation. HOPE Therapeutics expanded its clinical footprint, operating in five locations in Florida with plans to expand to eight or more locations by the end of Q2 2026.

Looking ahead, NRx Pharmaceuticals plans to initiate a clinical trial in Q2 2026 to test the use of low-dose NRX-101 in conjunction with transcranial magnetic stimulation (TMS) for depression and PTSD, with potential non-dilutive funding from a government agency. The company is also focused on securing necessary financing to support its acquisitions and business plan. Management believes that it will be able to secure necessary financing to support and consummate both its previously announced acquisitions and potential future acquisition candidates, execute its business plan and achieve its projected revenue objectives. The company's strategy includes pursuing both generic and innovative drug approval pathways for ketamine, with potential market entry anticipated in late 2026.

About NRX Pharmaceuticals, Inc.

NRx Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing therapies for central nervous system disorders such as suicidal depression, bipolar disorder, PTSD, and chronic pain. Its key products include NMDA receptor modulators like NRX-100 and NRX-101, targeting rapid relief of suicidality and depression. The company also operates HOPE Therapeutics, a care delivery platform with clinics treating psychiatric conditions, integrating innovative drug development with patient care.

This description was generated via AI from an annual report. Updated 8 months ago.

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