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MARKETS / NASDAQ / NRXP
NASDAQ · PHARMACEUTICAL PREPARATIONS · SMALL CAP

NRX Pharmaceuticals, Inc. NRXP

8 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.2M
$-28.6M
In brief

What this company does

NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) (“NRx”, the “Company”, “we”, “us” or “our”) is a clinical-stage bio-pharmaceutical company which develops and will distribute, through its wholly-owned operating subsidiary, NeuroRx, Inc., (NeuroRx), novel therapeutics for the treatment of central nervous system disorders including suicidal depression, chronic pain, post-traumatic stress disorder (PTSD) and schizophrenia. NRx is additionally the founder and majority owner of HOPE Therapeutics, Inc. (HOPE), a medical services company that offers interventional psychiatry care to patients with treatment-resistant depression and PTSD with a combination of neuroplastic drugs, transcranial magnetic stimulation (TMS), digital therapeutics, and hyperbaric therapy. The Company has three lead drug candidates – NRX-100, a preservative-free formulation of ketamine for intravenous infusion, a generic preservative-free formulation of ketamine (KETAFREE™), and NRX-101, an oral fixed dose combination of D-cycloserine (DCS) and lurasidone. HOPE generated its first clinical revenue in Q4 2025 and currently operates in five locations in Florida with the expectation of operating in eight or more locations by the end of Q2 2026.

Written from the business description in NRX Pharmaceuticals, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 23 March 2026. Every sentence was checked against that document before publication.

Growth
USD 1.2M
Revenue, FY2025 · full 8-year series below
Revenue $M Net income $M
FY2025 · Revenue 1.2 · Net income -28.6
-20M20182019202020212022202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−2336 cents
lost on every revenue dollar
ROE
FY2022 · ROE -281.8%
200%400%-100%-200%20182019202020212022202320242025

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF -10.6
-20M20182019202020212022202320242025

Total assetsUSD 13.0M
EquityUSD -15.9M
CashUSD 7.8M
Current ratio0.31×

Equity funds -123% of total assets.

The 8-year record
8 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018
Revenue $B0.00.00.0·····
Operating income $B−0.0−0.0−0.0−0.0−0.1−0.1−0.0−0.0
EBITDA $B−0.0−0.0−0.0−0.0−0.1−0.1··
Income tax $B0.00.00.0··0.00.00.0
Net income $B−0.0−0.0−0.0−0.0−0.1−0.10.00.0
Free cash flow $B·−0.0−0.0−0.0−0.0−0.0··
EPS, diluted $···−0.60−1.98−1.51−0.11−0.29
Dividend / sh $········
Payout %········
ROE %···−281.8··520.31.3
Shares out B0.030.010.010.070.060.040.000.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 32 reconciliationsAUDITED

Reconciled in 8 of 19 fiscal years. 61 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2018

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