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NRXPW

NRx Pharmaceuticals, Inc.

NRXPW

NRx Pharmaceuticals, Inc. • NASDAQ
$0.09 ▼ -9.91% (-0.01)
Market Cap $48.06 M
52w High $0.16
52w Low $0.09
Dividend Yield 0%
P/E -0.01
Volume 7.41K
Outstanding Shares 534.02M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $242K ▲ $4.169M ▲ $-5.89M ▲ -2.434K% ▼ $-0.27 ▲ $-5.847M ▲
Q2-2025 $0 $3.73M ▼ $-17.581M ▼ 0% $-0.98 ▼ $-17.581M ▼
Q1-2025 $0 $3.847M ▲ $-5.512M ▲ 0% $-0.34 ▲ $-5.512M ▲
Q4-2024 $0 $3.633M ▲ $-9.078M ▼ 0% $-0.86 ▼ $-9.077M ▼
Q3-2024 $0 $3.02M $-1.623M 0% $-0.15 $-1.621M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.184M ▲ $14.996M ▲ $40.751M ▲ $-25.755M ▲
Q2-2025 $2.91M ▼ $4.838M ▼ $40.453M ▲ $-35.615M ▼
Q1-2025 $5.548M ▲ $7.59M ▲ $32.751M ▲ $-25.161M ▼
Q4-2024 $1.443M ▼ $3.651M ▼ $26.874M ▲ $-23.223M ▼
Q3-2024 $1.646M $4.462M $23.284M $-18.822M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.89M ▲ $-2.891M ▲ $-2.561M ▼ $9.726M ▲ $4.274M ▲ $-2.891M ▲
Q2-2025 $-17.58M ▼ $-4.028M ▼ $0 $1.39M ▼ $-2.638M ▼ $-4.028M ▼
Q1-2025 $-5.512M ▲ $-3.48M ▼ $0 $7.585M ▲ $4.105M ▲ $-3.48M ▼
Q4-2024 $-9.078M ▼ $-1.464M ▲ $0 $1.261M ▼ $-203K ▲ $-1.464M ▲
Q3-2024 $-1.623M $-2.306M $0 $2.054M $-252K $-2.306M

Five-Year Company Overview

Income Statement

Income Statement The company has essentially no product revenue yet, which is typical for a clinical‑stage biotech. Its costs are mostly research, development, and overhead, leading to recurring operating and net losses every year. Losses widened during the heavy development period a few years ago and have recently become somewhat smaller, suggesting some cost discipline or lower trial activity. However, the business model is clearly still in the investment phase, not in an earnings or profitability phase. Results are also sensitive to one‑off items and changes in share count, which can make per‑share figures look volatile even when the core story is unchanged: spending on R&D without offsetting revenue.

Balance Sheet

Balance Sheet The balance sheet is very light, with a small asset base and limited cash, reflecting a lean, development‑stage operation. Shareholders’ equity has swung between slightly positive and clearly negative, indicating accumulated losses have more than offset capital raised at times. The presence of modest debt on such a small asset base adds financial strain and limits room for error. Overall, the company appears heavily dependent on continued external financing rather than on internally generated capital. This structure is common for early‑stage biotech but does increase financial fragility if markets or funding conditions worsen.

Cash Flow

Cash Flow Operating cash flow has been consistently negative, which is expected given ongoing clinical development and the absence of commercial revenue. Cash outflows are driven by payroll, clinical trials, and overhead rather than by capital spending, which is minimal. Free cash flow is therefore negative and closely tracks operating cash burn. The company’s ability to keep going hinges on its success in raising fresh capital from investors or partners. Any delays in trials, regulatory setbacks, or tighter funding markets would quickly become visible in cash‑flow pressure.

Competitive Edge

Competitive Edge Competitively, the company operates in attractive but highly crowded areas: severe depression, suicidality, PTSD, pain, and critical respiratory illness. Its main advantages are a differentiated drug platform targeting NMDA receptors, a large patent estate around its lead combination therapy, and favorable FDA designations that can speed development and review. The integrated clinic network through HOPE Therapeutics is unusual for a biotech of this size and, if scaled, could offer a built‑in channel for its therapies and related services. At the same time, it competes indirectly with large pharma and many other CNS and interventional psychiatry players, all chasing similar patient populations with substantial resources. Regulatory risk, trial outcomes, and the ability to execute on the clinic roll‑up strategy will heavily influence its true long‑term competitive standing.

Innovation and R&D

Innovation and R&D Innovation is the company’s clear strong point. It is pursuing a novel combination approach for suicidal bipolar depression and related CNS conditions, backed by dozens of granted and pending patents. The lead candidate has secured high‑value FDA designations, suggesting the agency sees meaningful potential versus current treatment options. The pipeline spans multiple indications, including depression, PTSD, chronic pain, and acute suicidality, and is complemented by an interventional psychiatry platform (ketamine, TMS, and proprietary treatment protocols). However, much of the supporting data is still early or based on smaller or non‑randomized studies, so there is considerable uncertainty until larger, definitive trials are completed and regulators make final decisions. R&D will likely remain intensive and cash‑consuming as these programs mature.

Summary

Overall, this is a classic high‑risk, high‑uncertainty clinical‑stage biotech profile. The scientific and strategic story—innovative CNS therapies, strong patent coverage, expedited FDA pathways, and an integrated clinic network—is compelling on paper. Financially, though, the company has no operating revenue, ongoing losses, a thin and sometimes negative equity cushion, and a persistent need for outside funding. Future outcomes depend heavily on a few key milestones: clinical trial results, regulatory approvals, successful commercialization of its lead products, and the rollout and integration of the HOPE Therapeutics clinic network. Until then, the business remains in a development and cash‑burn phase, with substantial scientific and financial execution risk alongside its potential upside.