NRX PHARMACEUTICALS INC (NRXP)
NASDAQHealth CareBiotechnologySnapshot 2026-09-04
$3.49+1.75%
Close 2026-09-04 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-09-04
QuarterlyIQ Insights · NRXP
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Complete FDA approval process for preservative-free ketamine ANDA and prepare for 2026 commercialization with manufacturing scale-up and commercial launch team.
Newly stated in 2026-Q2. Management aims for FDA approval and commercialization of preservative-free ketamine in 2026, with 5 million doses of launch stock in manufacturing and a commercial launch team appointed. Revenue grew from $242K in 2025-Q3 to $1.1M in 2026-Q2, reflecting early commercial activity. The trajectory shows progress toward commercialization but remains early stage.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 0 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated weak grew net income 28% of the time over the next year (vs 52% for the rest of the cohort, n=10029).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“The Company aims for 2026 approval and commercialization of preservative-free ketamine with launch stock of 5 million doses in manufacturing.”
Raise capital through public offerings to fund operations and support growth initiatives.
Stated in 2 disclosures around 2026-Q2. The Company completed a public offering raising $22.3 million gross proceeds to fund operations for at least one year. Cash and cash equivalents increased from $7.8 million at 2025 year-end to $26.7 million at 2026-Q2. The trajectory shows successful capital raising aligned with stated priorities.
“Closed an institutionally-supported, underwritten public offering of common stock for gross proceeds of $22.3 million.”
“Announced pricing of public offering of 5,714,286 shares with gross proceeds of approximately $20 million, potentially $23 million with option exercise.”
Progress clinical trials and regulatory filings for NRX-100 and NRX-101 to expand treatment options for depression and related disorders.
Newly stated in 2026-Q2. The Company is progressing NRX-100 NDA with Real World Evidence from over 65,000 patients and conducting a DARPA-funded Phase 2/3 trial of NRX-101. Financials show increasing operating losses reflecting R&D investment, with operating income declining from -$3.7M in 2025-Q2 to -$6.5M in 2026-Q2. The trajectory indicates ongoing investment consistent with clinical development priorities.
“Advancing NRX-100 NDA with Real World Evidence and conducting DARPA-funded Phase 2/3 trial of NRX-101 with robotic TMS.”
Establish commercial team and manufacturing capacity to support product launch and market entry.
Newly stated in 2026-Q2. The Company appointed its first Chief Commercial Officer and retained a commercial launch team, alongside manufacturing scale-up for 5 million doses. Revenue increased from $242K in 2025-Q3 to $1.1M in 2026-Q2, indicating early commercial activity. The trajectory shows initial build-out of commercial infrastructure aligned with launch plans.
“Appointed Glenn Tyson as Chief Commercial Officer and retained commercial launch team for preservative-free ketamine.”
Focus on reducing operating losses and improving operating income over time.
Over the trailing year it converted 0.48x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity (low R² over the window).
20 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Health Care names rated volatile grew net income 53% of the time over the next year (vs 50% for the rest of the cohort, n=3986).
Not investment advice. As of 2026-09-04.