Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on NRX Pharmaceuticals. The associated price target remains the same with $40.00.
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Patrick Trucchio’s rating is based on the strategic importance of NRX Pharmaceuticals’ products in addressing critical supply-chain vulnerabilities and enhancing drug safety. The FDA’s recent actions, including awarding the Commissioner’s National Priority Vouchers (CNPVs) and selecting Phlow Corp. for ketamine API manufacturing, highlight the agency’s prioritization of ketamine as a national-priority drug class. This aligns with NRX Pharmaceuticals’ preservative-free intravenous ketamine programs, KETAFREE and NRX-100, which are designed to improve safety by eliminating benzethonium chloride, a preservative not generally recognized as safe.
Trucchio also emphasizes the potential regulatory advantages for NRX-100, as its eligibility for the CNPV program could significantly shorten the New Drug Application review timeline. This development, coupled with the company’s robust manufacturing strategy and stock of ketamine API, positions NRX Pharmaceuticals favorably for future approval and market success. These factors collectively underpin the Buy rating and the $40 price target for NRX Pharmaceuticals’ stock.