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NRX Pharmaceuticals (NRXP)
NASDAQ:NRXP
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NRX Pharmaceuticals
(NASDAQ:NRXP)
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Rating:45Neutral
Price Target:―
NRX Pharmaceuticals is navigating significant financial hurdles with net losses and negative equity, typical for early-stage biotech firms. However, strategic initiatives and drug development progress provide potential upside. Technical analysis and valuation reflect speculative potential, with the stock currently exhibiting mixed technical signals. The positive outlook from the earnings call highlights strategic moves that could improve the company's financial health if successful.
Positive Factors
FDA Fast Track Designation
The FDA Fast Track designation for NRX-100 indicates strong potential to address unmet medical needs, accelerating development and review processes, which could lead to earlier commercialization and revenue generation.
Strategic Partnerships
The strategic partnership for NRX-100 validates the company's drug development approach and provides a significant financial opportunity through milestone payments and royalties, enhancing long-term revenue prospects.
HOPE Therapeutics Expansion
Expanding HOPE Therapeutics with profitable clinics positions the company to increase its market presence in mental health treatment, potentially boosting profitability and supporting sustainable growth.
Negative Factors
Negative Cash Flow
Persistent negative cash flow indicates reliance on external financing, which can strain resources and limit strategic flexibility, posing a risk to long-term financial stability if not addressed.
Regulatory Complexities
Regulatory complexities in acquiring medical facilities could delay expansion plans and increase operational costs, impacting the company's growth trajectory and strategic execution.
Low Cash Reserves
Low cash reserves limit the company's ability to invest in growth initiatives and weather financial challenges, potentially hindering its ability to capitalize on strategic opportunities.
NRX Pharmaceuticals (NRXP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$72.50M
Dividend YieldN/A
Average Volume (3M)475.66K
Price to Earnings (P/E)―
Beta (1Y)1.05
Revenue GrowthN/A
EPS Growth18.51%
CountryUS
Employees2
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.98
Shares Outstanding23,769,901
10 Day Avg. Volume509,446
30 Day Avg. Volume475,656
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue16.45K
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-1.95
Forecast
1Y Price Target
$33.00Price Target Upside981.97% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
NRX Pharmaceuticals Business Overview & Revenue Model
Company DescriptionNRX Pharmaceuticals, Inc., a clinical-stage pharmaceutical company, develops novel therapeutics for the treatment of central nervous system disorders and life-threatening pulmonary diseases. Its products include ZYESAMI, an investigational drug that has completed a Phase IIb/III clinical study for COVID-19 related respiratory failure; and NRX-100 and NRX-101 oral therapeutics for the treatment of bipolar depression in patients with acute suicidal behavior/ideation and sub-acute suicidal ideation and behavior. The company was founded in 2015 and is based in Wilmington, Delaware.
How the Company Makes MoneyNRX Pharmaceuticals makes money primarily through the development and commercialization of its pharmaceutical products. The company's revenue streams include partnerships with other pharmaceutical companies for drug development and distribution, as well as potential sales from its proprietary drugs once they receive regulatory approval. Additionally, NRX Pharmaceuticals may engage in licensing agreements, where they receive upfront payments, milestone payments, and royalties based on the sales performance of their licensed products. The company's earnings are also influenced by its ability to secure funding through investments, grants, or collaborations geared towards advancing its research and development efforts.
NRX Pharmaceuticals Earnings Call Summary
Earnings Call Date:Aug 18, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 17, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in drug development, financial management, and strategic partnerships, with a strong focus on advancing key drug applications and developing the Hope Therapeutics network. Despite increased net losses and regulatory challenges, the company's strategic moves and financial improvements suggest a positive outlook.Q2-2025 Updates
Positive Updates
Reduction in Operating Loss
NRx Pharmaceuticals reduced its quarterly operating loss by approximately 50% year-over-year, marking a significant improvement in financial performance.
Progress on Drug Approval Applications
NRx Pharmaceuticals is advancing three drug approval applications, including NRX-100 and NRX-101, with NRX-100 receiving a major expansion of the Fast Track designation from the FDA.
Strengthening of Balance Sheet
The company added long-term healthcare specialist investors with a 1-year lockup agreement, avoiding dilutive features, and reduced the burden of convertible debt.
PDUFA Fee Waiver
The FDA granted a PDUFA fee waiver, saving the company $4.3 million in filing fees, highlighting the drug's importance to public health.
Hope Therapeutics Network Development
NRx is finalizing the purchase of its first interventional psychiatry clinics, with state regulatory approval now in hand, and anticipates strong revenue and EBITDA growth.
Significant Funding Secured
NRx closed a direct offering, raising $6.5 million without warrants or pricing resets, supporting operations into 2026.
Negative Updates
Increased Net Loss
The net loss increased to $17.5 million for Q2 2025 from $7.9 million in Q2 2024, driven by a $12 million charge related to convertible notes and warrants.
Regulatory Delays
Approval processes for key drugs are ongoing, with regulatory comments requiring further justification of formulation ingredients, potentially delaying approvals.
Uncertainties in Commercial Strategy
While plans for commercialization are outlined, the company faces challenges in expanding its G&A as it transitions to a commercial entity.
Company Guidance
During the NRx Pharmaceuticals Q2 2025 earnings call, the company provided several key metrics and guidance. The company has reduced its quarterly operating loss by approximately 50% year-over-year, a significant achievement in their financial management. They have engaged in three drug approval applications and filed over 80,000 pages of regulatory data in the last quarter. Additionally, the company reported a net loss of $17.5 million for the quarter, driven largely by a $12 million non-cash charge related to convertible notes and warrants. However, their loss from operations improved by over 47% compared to the previous year, indicating a focus on cost reduction and efficient operations. The company also strengthened its balance sheet by closing a registered direct offering, raising $6.5 million, and expects its current cash position to support operations well into 2026. Key milestones also included the FDA's grant of a PDUFA fee waiver, saving $4.3 million, and securing long-term healthcare specialist investors who have committed to a 1-year lockup agreement.NRX Pharmaceuticals Financial Statement Overview
Summary
NRX Pharmaceuticals faces significant financial challenges, with ongoing net losses and negative equity. Despite typical early-stage biotech challenges, the company must improve revenue generation and manage cash flow better.Income Statement
NRX Pharmaceuticals shows consistent net losses and zero revenue over the years, leading to negative EBIT and EBITDA margins. There is no revenue growth, which is typical for early-stage biotech firms focusing on R&D and product development. The company faces challenges in transitioning from R&D to revenue generation.10
Very Negative
Balance Sheet
The balance sheet reveals negative stockholders' equity and high liabilities compared to assets, indicating financial instability. The debt-to-equity ratio is not calculable due to negative equity, suggesting high financial risk. However, the absence of debt in the latest report is a slight positive aspect.20
Very Negative
Cash Flow
Operating cash flow remains negative, reflecting ongoing cash burn without incoming revenue. The free cash flow is also negative, indicating the company relies on financing activities for liquidity. This cash flow scenario is common in biotech companies at the research stage.15
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -5.00K | -5.00K | -4.00K | -2.00K | -907.00K |
| EBITDA | -33.79M | -24.04M | -30.02M | -39.75M | -93.04M | -51.72M |
| Net Income | -33.79M | -25.13M | -30.15M | -39.75M | -93.06M | -51.78M |
Balance Sheet | ||||||
| Total Assets | 4.84M | 3.65M | 7.32M | 25.82M | 32.73M | 2.94M |
| Cash, Cash Equivalents and Short-Term Investments | 2.91M | 1.44M | 4.59M | 20.05M | 27.61M | 1.86M |
| Total Debt | 10.23M | 6.58M | 9.16M | 10.53M | 518.00K | 797.00K |
| Total Liabilities | 40.45M | 26.87M | 19.05M | 18.41M | 11.92M | 46.71M |
| Stockholders Equity | -35.62M | -23.22M | -11.73M | 7.41M | 20.81M | -43.77M |
Cash Flow | ||||||
| Free Cash Flow | -11.91M | -10.64M | -21.66M | -39.77M | -37.71M | -2.27M |
| Operating Cash Flow | -11.91M | -10.64M | -21.66M | -39.76M | -37.70M | -2.27M |
| Investing Cash Flow | 0.00 | 0.00 | -3.00K | -10.00K | -7.00K | -2.00K |
| Financing Cash Flow | 12.92M | 7.49M | 6.20M | 32.21M | 63.46M | 3.25M |
NRX Pharmaceuticals Technical Analysis
Neutral
3.05
Price Trends
3.00
Positive
3.02
Positive
2.74
Positive
Market Momentum
<0.01
Positive
46.74
Neutral
26.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRXP, the sentiment is Neutral. The current price of 3.05 is below the 20-day moving average (MA) of 3.23, above the 50-day MA of 3.00, and above the 200-day MA of 2.74, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 46.74 is Neutral, neither overbought nor oversold. The STOCH value of 26.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NRXP.
NRX Pharmaceuticals Risk Analysis
NRX Pharmaceuticals disclosed 102 risk factors in its most recent earnings report. NRX Pharmaceuticals reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
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NRX Pharmaceuticals Corporate Events
Business Operations and StrategyFinancial Disclosures
NRX Pharmaceuticals Reports 2024 Financial Results and Strategy
Positive
Mar 21, 2025
NRx Pharmaceuticals announced its financial results for the fourth quarter and full year 2024, highlighting significant advancements in its drug development and corporate strategy. The company initiated the filing of a New Drug Application for NRX-100 for suicidal depression and plans to file for NRX-101 for bipolar depression. Additionally, NRx Pharmaceuticals is negotiating licensing agreements for NRX-100 and pursuing acquisitions to establish a national network of interventional psychiatry centers. These efforts aim to strengthen the company’s position in the mental health treatment market and potentially increase its profitability by the end of 2025.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.