NRx Pharmaceuticals Inc. (NASDAQ:NRXP) shares jumped 26.69% to $3.37 in after-hours trading Thursday after the company said it will discuss a regulatory milestone for its Preservative-Free Ketamine program.
Conference Call Set Before the Open
The Wilmington-based clinical-stage biopharmaceutical company said that it will host a call at 8:30 a.m. ET Friday. Executives will discuss the milestone and “next steps on the commercial launch,” the company said.
The company said a press release detailing the milestone is expected before the market opens. However, NRx has not yet disclosed the nature of the regulatory development.
NRx Pharmaceuticals is developing NRX-100, a preservative-free injectable ketamine formulation intended for intravenous use. The program aims to deliver a pharmaceutical-grade ketamine product without added preservatives while maintaining its purity, potency and sterility. The formulation is being developed for potential use in anesthesia and psychiatric treatment applications, including depression and suicidal ideation.
Trading Metrics, Technical Analysis
NRx Pharmaceuticals has a market capitalization of $115.17 million, a 52-week high of $5.06 and a 52-week low of $1.62.
The Relative Strength Index (RSI) of NRXP stands at 42.61.
The small-cap stock has fallen 11.92% over the past 12 months.
In early October, Ascendiant Capital analyst Edward Woo maintained a Buy rating on NRx Pharmaceuticals and raised the price target from $49 to $50, indicating continued optimism.
Price Action: NRXP closed the regular session on Thursday at $2.66, down 1.12%, according to Benzinga Pro data.
The biotech stock is currently trading 30.23% above its 52-week low.
Benzinga’s Edge Stock Rankings indicates NRx Pharmaceuticals stock has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Jirapong Manustrong / Shutterstock
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