NRx Pharmaceuticals, Inc. (NRXP) stock declined by 2.81% to reach $6.56 in the pre-market. The stock gained a value of 30% in the last 5 days. At the end of the last trading session, the stock closed at $4.50. The average volume of stock traded in the trading session was 3.47 million.
Reasons for the stock gain:
This sudden change in the past 5 days occurred due to the positive results of their effectiveness of the vaccine against covid-19.NRx Pharmaceuticals said that their vaccine BriLife was found to be effective in the phase 2 trials. The vaccine was observed to respond the same against the delta variant of the virus as it responded to the original virus. It is expected from the results that the new vaccine will be effective against the delta variant as well as all the variants of concern.
The company is all set to commence the next trials of their vaccine after getting a positive response from the phase 2 results. In the phase 2 results, it showed that 11 participants’ samples showed that it was effective in neutralizing antibodies in the original coronavirus. It was also tested for the antibodies to the delta variant and it was found that out of 11 samples, 10 showed that it had neutralized the Delta variant.
Financial highlights of third quarter:
- The company reported an R&D expense of $6.3 million.
- Their general and administrative expense in the third quarter was $13.8 million out of which $9.3 million was non-cash expense in the form of stock-based compensation and consulting fees.
- Net loss for the 3rd quarter was reported to be $20.8 million.
- As of 30th September 2021, the company had cash of approx. $38.9 million. They said they have enough cash to meet the expenses for the next 1 year.
Conclusion:
NRx Pharmaceuticals, Inc. (NRXP) had other developments in the third quarter like developing medicine for patients diagnosed with suicidal bipolar disorder, BriLife vaccine against covid-19 and its variants, and ZYESAMI a medicine for the treatment of respiratory failure after the contact of COVID-19. The NRx Pharmaceuticals, Inc. (NRXP) expects good revenue in terms of any of its products sales in the next couple of years.
