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Monday, February 6, 2023

NRX Pharmaceuticals, Inc. (NRXP) Stock Leaping Forward in Aftermarket, Here’s the Cause

NRX Pharmaceuticals, Inc. (NRXP), a clinical-stage small molecule pharmaceutical company, has soared by 6.85% in aftermarket trading session. Consequently, NRXP is trading at $4.99 at the time of the writing. The rise could be attributed to announcements regarding the company’s COVID-19 vaccine. On Friday, the stock closed the day at $4.67 after sliding 7.34% during the mid-day session.

Why NRXP Surging?

In the late hours of Friday, NRXP announced that its Chairman of the Board and Chief Executive Officer, Prof Jonathan Javitt, MD, MPH would present updates of the business of the company at the H.C. Wainwright BioConnect Virtual Confere. That includes some new details regarding late-stage trials of the investigational BriLife™ COVID-19 vaccine. The conference is scheduled to take place on the 10th of January, 2022.

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Q3 2021 Operational Results

In mid of November, NRXP released the operational results for the third quarter of fiscal 2021. The quarter ended on 30th September 2021. The company bore total operating expenses of $20.09 million during the quarter against $5.14 million for the same quarter of 2020. The net loss suffered by the company during the three months was $20.77 million against $5.16 million for the same three-month period of 2020. The net loss per basic and diluted share for the period was $0.40 against $0.15 for the same period of 2020.

Financial Results

NRXP also released the financial results for the period ended 30th September 2021. The company had cash and cash equivalents of $38.88 million on 30th September. The total current assets in the possession of the company on the said date were $45.23 million, while the total assets were $$45.25 million. On 30th September, the total liabilities payable by the company were estimated to be $36.28 million, while the total stockholders’ equity was $8.96 million.

What’s Ahead for NRXP Stock?

The last three months have seen NRXP stock decline by more than 30%, owing to the uncertainty associated with its trials. Analysts, however, believe that the stock is in a good shape to attract investors. Hence, potential investors should keep a close eye on the performance of NRXP stock.

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