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NRX Pharmaceuticals (NRXP)
NASDAQ:NRXP
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NRX Pharmaceuticals
(NASDAQ:NRXP)
Rating:45Neutral
Price Target:―
Positive Factors
Business Strategy
NRX-100 has attracted interest from a commercial-stage pharmaceutical company, providing NRx with an opportunity to consider non-binding terms for an out-licensing and distribution agreement potentially worth up to $300M.
FDA Approval
The HOPE network is gaining strength with unique access to a 'safer ketamine' that could be FDA-approved and reimbursable.
Market Opportunity
According to market research, the anti-suicide market is projected to reach $5B by 2026, indicating a significant opportunity for NRx to capture market share with NRX-100.
Negative Factors
Financial Burden
Company's cash and equivalents of $5.5M are expected to support operations through 2025 and the potential approvals of NRX-100 and NRX-101.
Regulatory Challenges
Submission for NRX-101 for patients with suicidality and akathisia is expected in time for a PDUFA date in 2025.
NRX Pharmaceuticals (NRXP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$45.30M
Dividend YieldN/A
Average Volume (3M)265.07K
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue GrowthN/A
EPS Growth41.01%
CountryUS
Employees2
SectorHealthcare
Sector Strength42
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.34
Shares Outstanding17,289,192
10 Day Avg. Volume583,695
30 Day Avg. Volume265,067
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)-1.60
Price to Sales (P/S)0.00
P/FCF Ratio-3.71
Enterprise Value/Market Cap0.81
Enterprise Value/Revenue1.53K
Enterprise Value/Gross Profit36.65K
Enterprise Value/Ebitda-0.41
Forecast
1Y Price Target
$27.67Price Target Upside956.11% 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 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 |
| 1.00K | 0.00 | -5.00K | -4.00K | -2.00K | -907.41K | EBIT |
| -16.35M | -18.50M | -27.59M | -44.40M | -115.80M | -51.39M | EBITDA |
| -21.59M | -18.50M | -30.02M | -39.75M | -93.04M | -51.72M | Net Income Common Stockholders |
| -24.11M | -25.13M | -30.15M | -35.23M | -71.72M | -12.35M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 5.55M | 1.44M | 4.59M | 20.05M | 27.61M | 1.86M | Total Assets |
| 7.59M | 3.65M | 7.32M | 25.82M | 32.73M | 2.94M | Total Debt |
| 0.00 | 6.58M | 9.16M | 10.53M | 518.00K | 797.00K | Net Debt |
| -5.55M | 5.13M | 4.57M | -9.53M | -27.09M | -1.06M | Total Liabilities |
| 32.75M | 26.87M | 19.05M | 18.41M | 11.92M | 46.71M | Stockholders Equity |
| -25.16M | -23.22M | -11.73M | 7.41M | 20.81M | -43.77M |
| Cash Flow | Free Cash Flow | ||||
| -11.39M | -10.64M | -21.66M | -39.77M | -37.71M | -2.27M | Operating Cash Flow |
| -11.39M | -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 |
| 14.68M | 7.49M | 6.20M | 32.21M | 63.46M | 3.25M |
NRX Pharmaceuticals Technical Analysis
Positive
2.62
Price Trends
2.10
Positive
2.52
Positive
2.01
Positive
Market Momentum
0.16
Negative
65.65
Neutral
64.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRXP, the sentiment is Positive. The current price of 2.62 is above the 20-day moving average (MA) of 2.25, above the 50-day MA of 2.10, and above the 200-day MA of 2.01, indicating a bullish trend. The MACD of 0.16 indicates Negative momentum. The RSI at 65.65 is Neutral, neither overbought nor oversold. The STOCH value of 64.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NRXP.
NRX Pharmaceuticals Risk Analysis
NRX Pharmaceuticals disclosed 100 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 3 New Risks
1.
We are no longer a "controlled company" under the corporate governance rules of Nasdaq. Under the Nasdaq listing requirements, a company that ceases to be a "controlled company" must comply with the independent board committee requirements as they relate to the nominating and corporate governance. Q4, 2024
2.
The Company is now subject to all the requirements of Nasdaq. Our common stock may become the target of a "short squeeze". Q4, 2024
3.
While we have entered into non-binding letters of intent with Kadima Neuropsychiatry Institute and Dura Medical, we have not entered definitive agreements, and we cannot assure you that the transactions will be consummated or, if consummated, that they will be consummated on the terms set forth in such letters of intent or that they will be accretive to stockholder value. Q4, 2024
NRX Pharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $5.14B | 3.03 | -43.89% | 2.83% | 16.75% | -0.06% | |
51 Neutral | $48.52M | ― | 1063.61% | ― | 475.53% | 89.94% | |
49 Neutral | $43.52M | ― | -136.13% | ― | ― | 61.43% | |
45 Neutral | $45.30M | ― | 108.28% | ― | ― | 41.01% | |
28 Underperform | $49.08M | ― | -916.17% | ― | ― | 45.15% | |
| $36.09M | ― | -197.22% | ― | ― | ― | ||
| $31.84M | ― | -111.73% | ― | ― | ― |
* Healthcare Sector Average
Performance Comparison
NRXP
NRX Pharmaceuticals
2.62
-1.21
-31.59%
ATRA
Atara Biotherapeutics
7.14
-8.15
-53.30%
RVPH
Reviva Pharmaceuticals Holdings
1.03
-0.35
-25.36%
COEP
Coeptis Therapeutics Holdings
10.41
5.09
95.68%
RNXT
RenovoRx
1.19
-0.08
-6.30%
RADX
Radiopharm Theranostics Limited Sponsored ADR
4.81
0.18
3.89%
NRX Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 15, 2025
(Q1-2025)
| % Change Since: 9.17%|
Next Earnings Date:Aug 18, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in drug development, financial improvements, and strategic expansions in clinical networks. While there are regulatory and market risks, the advancements and potential market opportunities appear to outweigh the challenges.Q1-2025 Updates
Positive Updates
Advances in Regulatory Process
NRx has advanced its lead candidates, NRX-100 and NRX-101, in the regulatory process with the U.S. FDA, including the initiation of a new drug application for NRX-100 for the treatment of suicidal depression.
Financial Improvements
The company ended the quarter with more cash on the balance sheet than in prior quarters and reduced core corporate expenses. Net loss decreased from $6.5 million to $5.5 million year-over-year for the first quarter.
Establishment of HOPE Therapeutics
Progress in establishing the HOPE Therapeutics Clinic network across the U.S. with non-dilutive financing and acquisition of three state-of-the-art interventional psychiatry practices.
Innovative Drug Development
Filing a patent for a novel preservative-free formulation of NRX-100 potentially extending protection into 2045. Development of pH-neutral ketamine for subcutaneous administration.
Potential Market Opportunity
NRX-100 and NRX-101 represent multibillion-dollar opportunities, with expected market exclusivity and broad insurance reimbursements upon FDA approval.
Negative Updates
Ongoing Losses
Despite improvements, the company reported a net loss of $5.5 million for the quarter.
Regulatory and Market Risks
There are risks associated with the regulatory process and potential market challenges, including the removal of toxic preservatives from ketamine formulations.
Company Guidance
During the NRx Pharmaceuticals First Quarter 2025 Earnings Call, the company provided detailed guidance on several fronts, emphasizing their progress and future outlook. The company highlighted substantial advancements in their pipeline, specifically with their lead candidates, NRX-100 and NRX-101, both of which are in the regulatory process with the U.S. FDA. They reported a successful reduction in core corporate expenses and a stronger cash position compared to previous quarters. They anticipated generating revenue from their HOPE Therapeutics Clinic network and projected profitability by the end of 2025. The company is also pursuing patent protection for their preservative-free formulation of NRX-100, potentially extending market exclusivity until 2045. Financially, they reported a net loss of $5.5 million for the quarter, a decrease from the previous year's loss, with operating expenses also reduced. The company aims to achieve significant market impact with NRX-100 and NRX-101, addressing unmet medical needs for suicidal depression and akathisia, and anticipates FDA approval and revenue generation within the year.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
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.