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Close of 9 Nov 2026, in USD
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About NRX Pharmaceuticals
From its filings with the US Securities and Exchange Commission
NRX Pharmaceuticals is based in Wilmington, Delaware and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker NRXP. The SEC classifies its business as pharmaceutical preparations. In the fiscal year to 31 December 2025, it reported revenue of $1.2m and a net loss of $28.6m. At that date it held total assets of $13.0m and shareholders' equity of −$15.9m.
An Abbreviated New Drug Application (ANDA) for KETAFREE™ was filed, with priority review requested in September 2025. The FDA approved the suitability of NRx’s proposed strength. On November 6, 2025, the Company received a communication from the FDA in which no significant deficiencies were identified in the revised filing. On March 15, 2026 the Company received FDA’s preliminary determination of no deficiency in the bioequivalence of KETAFREE™ to KETALAR®, the Reference Listed Drug. These communications are consistent with the Company’s plan to initiate commercial sales of KETAFREE™ with FDA approval in Q3 2026. The Company has additionally submitted a citizen petition seeking to have benzethonium chloride, a toxic preservative, removed from all commercial presentations of ketamine. The Company has completed all required manufacturing steps, including the manufacture of three reference batches of KETAFREE™ and has demonstrated room temperature shelf stability that is anticipated to support a three-year room temperature shelf life at the time of launch. KETAFREE™, if approved, would inherit the same label as the Reference Listed Drug. The current generic market for ketamine exceeds $750 million per year.
Quoted from its 10-K, filed 23 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Pharmaceuticals
- Listed since
- 20 Nov 2017
- Employees
- 2
- Website
- nrxpharma.com ↗
- Head office
- 1201 ORANGE STREET, WILMINGTON, DE, 19801
- Incorporated in
- DE
- Classification
- Pharmaceutical Preparations
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Dr. Jonathan JavittChairman of the Board, Interim Chief Executive Officer, Chief Scientific Officer, since 2021$825,000
- Mr. Michael AbramsChief Financial Officer and Treasurer
- Mr. Riccardo PanicucciChief Manufacturing and Technology Officer$240,000
- Mr. Matthew DuffyChief Business Officer$338,000
- Mr. Patrick FlynnIndependent Director$90,000
- Mr. Chaim HurvitzIndependent Director$70,000
- Dr. Dennis McbrideIndependent Director$38,462
- Mr. Michael TaylorIndependent Director
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- NRX-101 targets NMDA receptors for bipolar depression and suicidal ideation in Phase III trials.
- NRX-100 is a generic anesthetic product in development for clinical use.
- NRX Pharmaceuticals has a Phase IIb trial for Sub-Acute Suicidality with broader indications.
Weaknesses
- NRX Pharmaceuticals has only 2 employees, indicating limited operational capacity.
- The company's IPO was in 2017, suggesting a relatively new market presence.
- NRX Pharmaceuticals is a clinical-stage company with no commercialized products yet.
Opportunities
- NRX-101 is under FDA Special Protocol Agreement for bipolar depression treatment.
- Aviptadil acetate (ZYESAMI) targets respiratory failure in COVID-19 patients.
- The company's Phase IIb trial for Sub-Acute Suicidality expands potential market reach.
Threats
- NRX Pharmaceuticals faces competition in the CNS disorder treatment market.
- The company's small size may hinder resource allocation for clinical trials.
- FDA approval timelines could delay product commercialization significantly.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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