NRx Pharmaceuticals Receives Notice From Nasdaq That The Company Has Demonstrated Compliance With The Bid Price Requirement

Author: Benzinga Newsdesk | April 18, 2024 08:36am

• The Nasdaq Panel has determined to continue the listing of the Company's securities on The Nasdaq Stock Market and is closing this matter
• Four upcoming milestones expected: data from trials in Suicidal Bipolar Depression and Chronic Pain, NDA filing for IV Ketamine and distribution of shares of HOPE Therapeutics to existing shareholders
• Recent unanticipated achievements related to intravenous ketamine and complicated Urinary Tract Infection/pyelonephritis

RADNOR, Pa., April 18, 2024 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) ("NRx Pharmaceuticals", "NRx", the "Company"), a clinical-stage biopharmaceutical company, today announced that (the "Company") has received confirmation from Nasdaq that they have demonstrated compliance with the Nasdaq bid price requirement in Listing Rule 5550(a)(2) and has determined to continue the listing of the Company's securities on The Nasdaq Stock Market and is closing this matter.

The Company is now in a position to reach four important milestones:

• Release of top-line data from its trial of NRX-101 in Treatment Resistant Suicidal Bipolar Depression
• Release of top-line data from Northwestern University's Department of Defense funded trial of the main component of NRX-101 in Chronic Pain
• NDA filing for IV Ketamine for treatment of Suicidal Depression
• Planned distribution of shares of HOPE Therapeutics to existing shareholders

"We greatly appreciate the support of our investors through the process of protecting our Nasdaq listing," said Dr. Jonathan Javitt, Founder, Chairman and Chief Scientist of NRx Pharmaceuticals.  "We are now poised to reach an important series of milestones, have the potential to be transformative to the company and dramatically enhance shareholder value. In addition to the near-term readouts and filings that we have identified for investors, recent unanticipated advances in the formulation of new forms of ketamine and potential use of NRX-101 in the treatment of complicated UTI and pyelonephritis have significant potential to create value for shareholders."

Posted In: NRXP