NRXP NRx Pharmaceuticals, Inc.
Price Chart
Executive Summary
NRx Pharmaceuticals reported Q1 2026 EPS of -$0.04, beating consensus of -$0.13 by 69.2%, with net loss narrowing to $1.4M from $5.5M a year ago. The company advanced multiple regulatory milestones including an anticipated FDA ANDA decision on preservative-free ketamine in Q3 2026, initiated commercial manufacturing, and generated first revenue from its HOPE Therapeutics clinic network. The beat is notable for a clinical-stage biotech but driven by non-recurring fair value accounting changes rather than operational improvement.
Actionable Insight
The EPS beat and regulatory catalysts (ketamine ANDA decision Q3 2026, NRX-101 IND acceptance) are positive, but the company remains pre-revenue from pharmaceutical sales and operating losses are widening. Monitor the Q3 2026 FDA ANDA decision and the Geneuro asset acquisition closing for the next major catalysts. The $7M ATM raise post-quarter provides runway but dilutes existing holders.
Key Facts
- EPS -$0.04 vs consensus -$0.13 (69.2% beat)
- Net loss narrowed to $1.4M from $5.5M YoY, though operating loss widened to $4.7M from $3.8M
- Cash and equivalents $6.7M as of March 31, 2026; raised ~$7M post-quarter via ATM
- FDA ANDA decision on preservative-free ketamine expected Q3 2026 with favorable preliminary determinations
- Initiated commercial manufacturing at 1 million dose/month scale; FDA reclassified facility to VAI status
- First revenue generated from five HOPE Therapeutics clinics with VA, DoD, and private insurer funding
- Pending acquisition of Geneuro SA assets (patents, antibodies, Phase 2 data) via Swiss court liquidation
- FDA accepted IND for NRX-101 as adjunct to robotic TMS; non-dilutive federal funding anticipated
Financial Impact
EPS beat of 69.2% on a -$0.13 consensus; net loss improvement of $4.1M YoY; $6.7M cash plus $7M post-quarter ATM proceeds
Risk Factors
- FDA ANDA decision on ketamine could be delayed or result in a Complete Response Letter
- Operating losses are widening ($4.7M vs $3.8M) despite net loss improvement from non-recurring items
- Dilution risk from ongoing ATM facility; $7M raised post-quarter adds to share count
- Clinical-stage biotech with no approved products; revenue from clinics is early-stage and small
- Pending Geneuro acquisition may not close or deliver expected value
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3296477 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 5, 2026
4d ago
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Press Release
| $4.12 awaiting T+1 | awaiting T+1 | — | $3.87 (−6.07%) |
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Jun 4, 2026
5d ago
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Press Release
| $4.05 awaiting T+1 | awaiting T+1 | — | $3.87 (+4.44%) |
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Jun 3, 2026
6d ago
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Press Release
| $4.05 $4.05 | · 0.00% | ▲ +0.40% | $3.87 (+4.44%) |
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Jun 2, 2026
7d ago
|
Press Release
| $4.05 $4.05 | · 0.00% | ▲ +0.41% | $3.87 (+4.44%) |
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May 18, 2026
22d ago
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Press Release
| $3.12 $3.03 | ▼ −2.73% | ▼ −2.08% | $3.87 (+24.24%) |
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May 14, 2026
26d ago
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Press Release
| $3.21 $3.28 | ▲ +2.18% | ▲ +3.41% | $3.87 (+20.56%) |
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Mar 30, 2026
10w ago
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Press Release
| $2.09 $2.13 | ▲ +1.91% | ▼ −0.98% | $3.87 (+85.17%) |
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Mar 19, 2026
11w ago
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Press Release
| $1.84 $1.85 | ▲ +0.54% | ▲ +2.29% | $3.87 (+110.33%) |
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Feb 24, 2026
15w ago
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DEFA14A
| $1.91 $1.93 | ▲ +1.05% | ▲ +1.59% | $3.87 (+102.62%) |
US Market Status
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