NRX Pharmaceuticals Inc.
NRXP evidence brief
What we can confirm
- BioSniper Score:
- 6.2 / 10
- Market Cap:
- $124.3M
- Lead Asset:
- htx-100 (Preclinical)
What it means
What to watch
Prepared research question
What matters most for NRXP—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · NRXP
NRX Pharmaceuticals Inc. (NRXP) is a clinical-stage biopharmaceutical company developing ketamine-based therapies for central nervous system disorders, with a preservative-free ketamine ANDA under FDA review and a subsidiary focused on robotic TMS systems.
Key risk: Pending ANDA vial attestation
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$124.3M
Cash Runway
—
Lead Asset
htx-100 (Preclinical)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 4 pipeline candidates for NRX Pharmaceuticals Inc..
NRX Pharmaceuticals Inc. (NRXP) is a clinical-stage biopharmaceutical company developing ketamine-based therapies for central nervous system disorders, with a preservative-free ketamine ANDA under FDA review and a subsidiary focused on robotic TMS systems.
- Cash & equivalents of $26.7M as of 2026-06-30 [sec].
- Total revenue of $1.1M and net income of -$16.5M as of 2026-06-30 [sec].
- Completed first-cycle FDA review of ANDA for preservative-free ketamine with no drug-related major deficiencies; sole remaining item is a manufacturer's attestation on the vial [news · 2026-08-17].
- FDA reclassified the ANDA amendment from Major to Minor and set a GDUFA goal date of November 10, 2026 [news · 2026-09-15].
- Subsidiary HOPE Therapeutics began training to deploy Zeta Surgical's FDA-cleared robotic TMS system in Florida clinics [news · 2026-09-11].
What works
- Strong cash position of $26.7M as of 2026-06-30 provides runway for operations and commercialization [sec].
- First-cycle FDA review of preservative-free ketamine ANDA found no drug-related major deficiencies, indicating a clear regulatory path [news · 2026-08-17].
- FDA reclassification of the ANDA amendment from Major to Minor suggests a lower regulatory burden and faster path to approval [news · 2026-09-15].
- Subsidiary HOPE Therapeutics is deploying an FDA-cleared robotic TMS system, potentially expanding the company's pipeline into neuroplastic treatments [news · 2026-09-11].
What to weigh
- Net loss of -$16.5M as of 2026-06-30 indicates ongoing operational losses [sec].
- Shareholders' equity is negative (-$0.2M as of 2026-06-30), suggesting liabilities exceed assets [sec].
- The ANDA for preservative-free ketamine still has a pending manufacturer's attestation on the vial, which could delay approval [news · 2026-08-17].
- The company's pipeline includes preclinical-stage candidates (e.g., htx-100) with no near-term revenue prospects [pipeline].
From the filings
Quoted directly from source documents.
FDA reclassification of ANDA amendment
“Abbreviated New Drug Application (ANDA) Amendment related to the drug vial for preservative-free ketamine has been reclassified from a Major Amendment to a Minor Amendment.”
News · September 15, 2026
First-cycle FDA review with no drug-related major deficiencies
“Completed first-cycle FDA review of the Company’s ANDA for preservative-free ketamine with no drug-related major deficiencies.”
News · August 17, 2026
Deployment of robotic TMS system
“HOPE is the first Interventional Psychiatry network to deploy Zeta Surgical's newly FDA-cleared TMS Robotic System”
News · September 11, 2026
Risks & what to watch (4)›
Key risks
- Pending ANDA vial attestation — FDA approval of preservative-free ketamine hinges on a manufacturer's attestation on the vial, which has been submitted but not yet accepted [news · 2026-08-17].
- Negative shareholders' equity — Shareholders' equity of -$0.2M as of 2026-06-30 indicates liabilities exceed assets, raising solvency concerns [sec].
- Preclinical pipeline uncertainty — Key pipeline candidate htx-100 is preclinical, with no near-term revenue and competitive landscape of 12 competitors [pipeline].
- Operational net loss — Net loss of -$16.5M as of 2026-06-30 reflects ongoing operational losses with limited revenue of $1.1M [sec].
What to watch
- FDA decision on preservative-free ketamine ANDA by GDUFA goal date of November 10, 2026 [news · 2026-09-15].
- Commercial launch of preservative-free ketamine with 5 million doses planned for 2026 [news · 2026-08-17].
- Deployment and clinical results of Zeta Surgical's robotic TMS system in HOPE Therapeutics' Florida clinics [news · 2026-09-11].
- Progress of NRx Defense Systems subsidiary in developing neuroplastic treatments with D-cycloserine and TMS [sec · filed 2026-07-22].
Sources: News · Pipeline · SEC filings · Generated October 4, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
Net income -$17M
Lead: BLA Filed
4 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Financials
Short Interest
as of Apr 30, 2026- % of float
- 10.4%
- Days to cover
- 3.6
- Shares short
- 3,248,961
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
NRXP short interestGovernance
Frequently asked questions
What is the AI investment thesis for NRX Pharmaceuticals Inc.?
NRX Pharmaceuticals Inc. (NRXP) is a clinical-stage biopharmaceutical company developing ketamine-based therapies for central nervous system disorders, with a preservative-free ketamine ANDA under FDA review and a subsidiary focused on robotic TMS systems.
What is NRX Pharmaceuticals Inc.'s lead drug candidate?
NRX Pharmaceuticals Inc.'s most advanced tracked candidate is htx-100 (Preclinical) for Suicidal depression, PTSD, and other serious Central Nervous System (CNS) disorders.
Who is the CEO of NRX Pharmaceuticals Inc.?
Dr. Jonathan C. Javitt M.D., M.P.H. is the chief executive officer of NRX Pharmaceuticals Inc. (NRXP).
Where is NRX Pharmaceuticals Inc. headquartered?
NRX Pharmaceuticals Inc. (NRXP) is headquartered in Wilmington, DE, United States.
What therapeutic areas does NRX Pharmaceuticals Inc. focus on?
NRX Pharmaceuticals Inc. develops therapies across Neurology, Infectious Disease.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.