NRX Pharmaceuticals, Inc. (NRXP)
Health Care · Nasdaq
Clinical-stage biotech developing ketamine and NMDA receptor-modulating drugs for treatment-resistant depression, PTSD, and suicidal ideation with three candidates in late-stage FDA review.
What NRX Pharmaceuticals, Inc. does
NRX Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel therapeutics for central nervous system disorders including suicidal depression, chronic pain, PTSD, and schizophrenia. The company's lead candidates—KETAFREE™ (preservative-free ketamine), NRX-100 (ketamine for intravenous infusion), and NRX-101 (oral fixed-dose combination of D-cycloserine and lurasidone)—work by modulating NMDA receptors to enhance neuroplasticity. NRX also owns HOPE Therapeutics, which provides interventional psychiatry care combining neuroplastic drugs, transcranial magnetic stimulation (TMS), digital therapeutics, and hyperbaric therapy.
Themes: ["ketamine therapeutics / depression treatment","treatment-resistant depression","PTSD treatment","suicidal ideation / suicide prevention","neuroplasticity / NMDA receptor modulation","bipolar disorder","schizophrenia","interventional psychiatry"]
Fundamentals
- Price$4.19 as of 2026-07-10 close
- Market cap$176M as of 2026-07-13
- 1-year return+28.1% as of 2026-07-10 close
- Net margin-2336.5% as of 2026-07-13
- Gross margin+58.8% as of 2026-07-13
- ROE-195.8% as of 2026-07-13
- Debt / equity1.42 as of 2026-07-13
- Beta2.15 as of 2026-07-13
Key risks (from latest filing)
["Clinical-stage company with no approved drugs; regulatory approval uncertain for KETAFREE™, NRX-100, and NRX-101; failure to obtain FDA approval would prevent commercialization and revenue generation.","Severe cash burn ($1.4B net loss in Q1 2026 alone; accumulated deficit of $308M) and minimal liquidity ($6.7M cash as of March 31, 2026) create substantial going-concern risk and dependency on future capital raises.","Significant warrant liability exposure ($8.8B warrant liabilities as of March 31, 2026) creates equity dilution risk and potential balance sheet volatility; negative stockholders' deficit of $13.8B reflects substantial accumulated losses."]
Fundamentals: Finnhub, as of 2026-07-13. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-10.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.