NRX Pharmaceuticals (NRXP)
NASDAQ:NRXP
Earnings Data
Report Date
May 19, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.31Last Year’s EPS
-0.34Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated multiple concrete regulatory, manufacturing and commercialization milestones (preliminary bioequivalence for KETAFREE, FDA openness to RWE for NRX-100, expanded Fast Track, manufactured registration batches, >25,000 NRX-101 doses, EBITDA-positive acquired clinics, and expense reductions). These highlights show tangible progress toward near-term approvals and commercial scale-up. Offsetting risks include a modest cash balance ($7.8M) with an ongoing $16.2M operating loss, early-stage clinic revenues, remaining regulatory steps and formulation/clinical validation needs for the D-cycloserine program. On balance the company presented more substantive positive catalysts and de-risking actions than unresolved negatives, but execution and financing risks remain material.Company Guidance
ANDA Progress for KETAFREE — Preliminary Bioequivalence Determination
FDA approved suitability petition (Aug 2025), ANDA filed (Sep 2025), FDA found no significant deficiencies (Nov 2025), and most recently issued a preliminary determination of bioequivalence to reference drug Ketalar. Company has manufactured 3 registration batches and anticipates a summer 2026 approval window (final pre-approval checks and plant inspection still required).
NRX-100 Regulatory Pathway Opened via Type C Meeting and RWE
FDA Type C meeting indicated willingness to review existing clinical trials plus real-world evidence (Osmind dataset: >65,000 IV patients, ~6,000 intranasal patients). FDA guided pursuit of full approval and a substantially broader depression indication; company aims to package requested data by end of Q2 with a potential PDUFA by year-end or early 2027.
Expanded Fast Track Designation and Potential Priority Voucher
NRX-100 received an expanded Fast Track designation (Aug 2025) covering all patients with suicidal ideation in depression. Company believes NRX-100 is a strong candidate for the FDA Commission’s National Priority Voucher program, which could materially accelerate review timelines.
HOPE Therapeutics Clinic Revenue Generation and Network Expansion
HOPE initiated revenue generation after acquiring Dura Medical (Naples/Fort Myers) and Cohen & Associates (Sarasota) in 2025; clinics are reported as EBITDA-positive and the company is opening additional sites (West Palm Beach, Sarasota, Boston, Denver) to scale clinic revenue.
NRX-101 Opportunity — D-cycloserine for TMS Augmentation
New strategic shift: developing a patentable sustained-release D-cycloserine formulation to augment TMS; prior studies cited show up to a 2x response and 8x remission increase vs standard TMS. Company has >25,000 manufactured doses and launched a nationwide expanded access program; Phase III trial planned to start this summer. Market estimate for this indication >$1 billion.
Manufacturing and Stability Readiness
Multiple products are manufactured and in warehouse (3 registration batches for KETAFREE; NRX-100/NRX-101 manufacturing modules complete). Stability data support at least 3 years room-temperature shelf stability for ketamine presentations.
Reduction in Operating Loss and Expense Discipline
Loss from operations reduced by approximately $2.3 million (from $18.5M to $16.2M) — ~12.4% improvement year-over-year. Research & development expense decreased by ~$2.4M (from $6.2M to $3.8M), a ~38.7% reduction, and general & administrative expense modestly decreased by ~$0.4M (~3.0%) to $13.1M.
Balance Sheet & Capital Structure Improvements
Company eliminated all convertible debt from its balance sheet and ended 2025 with $7.8 million in cash. Management expects available cash, growing clinic revenue and active ATM program to support operations through end of 2026.
Strategic Device and Government Partnerships
Announced partnership with Neurocare AG (maker of the Apollo TMS device with >400 U.S. installs) and engagement with VA, DoD/TRICARE, DARPA-funded investigators and Congressional leadership — supporting commercial and gov’t pathways for TMS + drug integration.
NRXP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NRXP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 24, 2026 | $1.77 | $2.13 | +20.34% |
Nov 17, 2025 | $2.49 | $2.11 | -15.26% |
Aug 18, 2025 | $2.76 | $2.50 | -9.24% |
May 15, 2025 | $2.40 | $2.45 | +2.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does NRX Pharmaceuticals (NRXP) report earnings?
NRX Pharmaceuticals (NRXP) is schdueled to report earning on May 19, 2026, Before Open (Confirmed).
What is NRX Pharmaceuticals (NRXP) earnings time?
NRX Pharmaceuticals (NRXP) earnings time is at May 19, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What is NRXP EPS forecast?
NRXP EPS forecast for the fiscal quarter 2026 (Q1) is 0.31.