NRx Pharmaceuticals, Inc. announced its financial results for the second quarter ended June 30, 2025. The company reported a net loss of $17.6 million, compared to a net loss of $7.9 million in the comparable quarter of 2024, primarily due to non-cash fair value accounting measurements. However, loss from operations significantly decreased to $3.7 million from $7.1 million in Q2 2024.
As of June 30, 2025, NRx Pharmaceuticals had approximately $2.9 million in cash and cash equivalents. Management believes that current cash resources will support operations into 2026 and provide sufficient capital to reach expected regulatory inflection points for its lead drug candidates.
The company achieved significant regulatory progress for NRX-100, receiving an expanded Fast Track designation on August 8, 2025, for suicidal ideation in depression. NRx also filed an application under the Commissioner’s National Priority Voucher Program, a patent with the USPTO, an ANDA for existing ketamine indications, and a Citizen’s Petition to remove Benzethonium Chloride from IV ketamine products.
For NRX-101, NRx submitted over 80,000 pages of manufacturing, non-clinical, and clinical material in July 2025 for its New Drug Application. HOPE Therapeutics is progressing with initial clinic acquisitions, including Kadima, Dura Medical, and Neurospa, which are expected to be accretive to revenues and EBITDA in 2025, with potential forward pro forma revenues exceeding $15 million. The company aims for $100 million in total forward pro-forma revenue for the HOPE network by year-end 2025.
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