On January 07, NRx Pharmaceuticals Inc. (NRXP) announced its upcoming company updates presentation at the H.C. Wainwright BioConnect conference. The company will be discussing new details of its Covid-19 vaccine trial during the presentation. Consequently, the stock became bullish in the after-hours on the news.
During regular trading, NRXP stock lost 7.34% at its closing price of $4.67 on Friday. Following the announcement, the stock gained 6.85% at $4.99 in the after-hours session.
The clinical-stage small molecule pharmaceutical company, NRx Pharmaceuticals Inc. has a market capitalization of $274.64 million. Currently, the company has 58.81 million shares outstanding in the market.
NRXP Recent Developments
As per Friday’s latest announcement, the company will be presenting at the H.C. Wainwright BioConnect Virtual Conference, on January 10, 2022. The Chairman of NXRP’s Board and CEO, Prof. Jonathan Javitt, MD, MPH will be discussing the company’s business updates. Further, he will also provide new details on the company’s late-stage trials of BriLifeTM Covid-19 vaccine.
NRXP is developing BriLifeTM vaccines against Covid-19. It is being developed under exclusive license from the Israel Ministry of Defense by the Institute for Biological Research. As new strains of the SARS-CoV-2 virus are emerging, the company is expanding its trials to include the new variants. Furthermore, the preliminary data showed the effectiveness of its BriLife vaccines against the Delta variant, last month. Moreover, the company has also advanced to now include reviewing data on BriLife vaccine’s effectiveness against the Omicron Variant.
Hence, the company plans on presenting the preliminary data along with new developments in the vaccine’s clinical trials in the upcoming conference.
In addition, the company also announced a change in the timings of the presentation. Previously, it was to be at 7 am EST on Monday, which has now been updated to 9 am EST on Monday.
Q3 Financial Updates
On November 16, the company announced its financial results for the third quarter of 2021, which ended on September 30, 2021.
NRXP incurred a net loss of $20.8 million in the third quarter of 2021, against $5.2 million in Q3 of 2020. Resultantly, the net loss per basic and diluted share in the third quarter of 2021, was $0.40, against $0.15 in the year-ago period.
Moreover, in the Q3 of 2021, the Research and Development expenses, and the General and Administrative expenses were $6.3 million and $13.8 million, respectively. This compares to respective $4.3 million and $3.8 million in Q3 of 2020.
