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NRX Pharmaceuticals(NRXP) - 2024 Q4 - Annual Results
NRXPNRX Pharmaceuticals(NRXP)2025-03-21 21:21

Financial Performance - NRx Pharmaceuticals reported a reduction in operational loss by approximately 2.0millionto2.0 million to 2.4 million for Q4 2024, a nearly 45% improvement compared to Q4 2023[23]. - For the year ended December 31, 2024, the company reduced its loss from operations by approximately 9.3million,or33.59.3 million, or 33.5%, to 18.5 million from 27.8millionin2023[24].−NRxPharmaceuticalshascompletedfinancingagreementstotaling27.8 million in 2023[24]. - NRx Pharmaceuticals has completed financing agreements totaling 10.9 million in 2024 and 8.5millioninJanuary2025tosupportongoingoperationsandclinicexpansions[20][25].−Managementforecastspotentialprofitabilityonaforward−lookingrun−ratebasisbyyear−end2025,althoughnoassurancescanbegiven[3].ResearchandDevelopment−Researchanddevelopmentexpensesdecreasedbyapproximately8.5 million in January 2025 to support ongoing operations and clinic expansions[20][25]. - Management forecasts potential profitability on a forward-looking run-rate basis by year-end 2025, although no assurances can be given[3]. Research and Development - Research and development expenses decreased by approximately 1.5 million to 1.0millioninQ42024,downfrom1.0 million in Q4 2024, down from 2.5 million in Q4 2023, primarily due to the conclusion of the phase 2b/3 study for NRX-101[23]. - NRx has initiated a New Drug Application filing for NRX-100 (IV ketamine) for the treatment of suicidal depression[30]. - NRx was awarded Fast Track Designation by the US FDA for the development of ketamine (NRX-100) to treat patients with acute suicidality[30]. Product Development and Licensing - The anticipated PDUFA date for the NDA filing of NRX-100 is prior to December 31, 2025, targeting the 3billionSuicidalDepressionmarketintheUS[6][7].−Thecompanyhasacceptednon−bindingtermsforlicensingNRX−100,whichincludesover3 billion Suicidal Depression market in the US[6][7]. - The company has accepted non-binding terms for licensing NRX-100, which includes over 300 million in potential milestones plus tiered double-digit royalties based on net sales[3][7]. - NRx Pharmaceuticals plans to file an ANDA for preservative-free ketamine in Q2 2025, aiming to address all currently indicated human and veterinary applications[9]. Strategic Growth and Acquisitions - The company aims to acquire 15-20 psychiatry clinics in Florida by year-end 2025, with each clinic currently generating approximately $5 million in revenue[19][18]. - The company is negotiating terms with a strategic investor for capital to support further HOPE clinic acquisitions, enhancing its interventional psychiatry services[3][21]. - HOPE Therapeutics aims to develop a network of interventional psychiatry clinics offering ketamine TMS and other therapies for suicidal depression[31]. - HOPE Therapeutics is focused on acquiring providers for its national network and raising adequate capital for these acquisitions[32]. - The company intends to spin-off HOPE Therapeutics as part of its growth strategy[32]. Risks and Forward-Looking Statements - The company acknowledges risks and uncertainties that may affect future financial performance and operational results[32]. - Investors are encouraged to review the company's most recent Annual Report on Form 10-K for detailed risk factors[32]. - The company does not assume any obligation to update forward-looking statements unless required by law[32]. Management - Matthew Duffy serves as Chief Business Officer of NRx Pharmaceuticals and Co-Chief Executive Officer of HOPE Therapeutics[33].