Shares of the NRx Pharmaceuticals, Inc. (NRXP) stock Popped high in the current market today on December 29, 2021. NRXP stock price saw a push of 9.02% to reach $4.91 a share at the time of this writing. The stock was gloomy in the previous trading session and went down by 4.66% at closing. Let’s deep dive to explore more of it.
What’s Happening:
NRXP stock became bullish in the premarket after the company announced that it has filed the new Breakthrough Therapy Designation (BTD) request with the US Food and Drug Administration (FDA). The main focus of the BTB is the patients with Critical COVID-19 and respiratory failure whose life is at risk despite the treatment with remdesivir and other therapies.
The company filed the request after the FDA requested clinical data on ZYESAMI® vs. Remdesivir in patients with a high risk of death. The FDA support has given a chance to the company to serve 100,000 Americans who are at high risk of death.
Previous News of NRXP stock:
On December 15, 2021, NRx Pharmaceuticals had been added to the Nasdaq Biotechnology Index by the Nasdaq. Nasdaq Biotechnology Index measures the performances of the biotechnology and pharmaceutical firms.
Safety Report for ZYESAMI
Company on December 14, 2021, provided the safety report for ZYESAMI®. The company evaluated the ZYESAMI® in the ACTIV-3b Critical Care Phase 3 study. US National Institutes of Health (NIH) sponsored the study. The Independent Data Safety Monitoring Board reviewed 348 patients and found no safety concerns. The board recommended continued enrollment at that time. Most of the enrolled patients are unvaccinated.
Financial View of NRXP stock
In the previous month, NRXP announced third quarter 2021 financial results according to which
The company spent $6.3 million in research and development expenses in the third quarter of 2021. In the same quarter of last year, the company spent $4.3 million on research and development expenses. The company spent 13.8 million in general and administrative expenses in the recently reported quarter. These expenses were $3.8 million in the same period as the previous year. Other expenses of the NRXP were $0.7 million in the third quarter of 2021 as compared to zero in the same period of the previous year. Per-share net loss of the NRXP stock was $0.40 per share in the third quarter of 2021. The overall net loss was $20.8 million in the recently reported quarter.
