NRx Pharmaceuticals, Inc. (NRXP), a clinical-stage, small molecule pharmaceutical company, has seen an increase of 8.20% in aftermarket trading session. As a result that, NRXP stock is currently changing hands at $11.88. There seems to be no apparent reason for this gain. On Monday, NRXP stock closed the day at $10.98 after declining some 8.88%. Let’s discuss some recent developments related to NRXP stock.
Findings of 2b/3 clinical trial
On the 30th of August, NRXP announced the additional findings in its phase 2b/3 clinical trial. The study was regarding the investigation of ZYESAMI™ (aviptadil), which is used for the treatment of individuals suffering from acute Respiratory Failure due to Critical COVID-19.. The analysis highlighted that the patients treated with ZYESAMI saw an improvement in their blood oxygen levels, as well as improvement in lungs, functioning. These results were obtained merely in a day’s treatment. Also, the findings highlighted that the difference within respiratory distress ratio among the ones treated with the aviptadil and placebo was quite significant and meaningful. The previously announced findings focused on the role of ZYESAMI in preventing the rise of inflammatory cytokine IL-6, which is also known as Cytokine Storm. Prof Jonathan Javitt, MD, MPH, Chairman and CEO of NRx, commented that analysis provides confirmatory evidence that aviptadil improves the lung’s ability to transmit oxygen within a day of initiating treatment. He hoped that the findings new findings would illustrate ZYESAMI’s mechanism of action in a placebo-controlled trial and would support the company’s application for Breakthrough Therapy Designation to the FDA.
Agreement with Cardinal health
On 26th of August, NRXP announced the signing of an agreement with a distributor of pharmaceuticals, Cardinal Health. Cardinal Health had to provide logistics and distribution of the company’s prime product, ZYESAMI™. The distribution had to initiate upon the potential Emergency Use Authorization (EUA) approval by the US Food and Drug Administration (FDA). According to the agreement, Cardinal health specialty pharmaceuticals distribution had to serve as the exclusive distributor of ZYESAMI. It was stipulated under the agreement that Cardinal would provide broad access to hospitals for this medicine upon the authorization of the FDA. Cardinal has one of the largest healthcare supply chain setups in the US. It serves more than 90% hospitals of US. Robert Besthof, Head of Operations and Chief Commercial Officer of NRx, said that the partnership would create an efficient and highly flexible logistics and distribution model for NRx. Further, he said that Cardinal Health’s expertise would enable ZYESAMI to quickly reach patients in the intensive care units.
What’s ahead for NRXP?
Statistics don’t reveal a very good picture of NRXP stock. During last half-year, the stock has declined by some 61%, while during last one quarter; it has declined about 39%. Besides, the EPS of the company is expected to decline a massive 600% during the current fiscal. These statistics reveal a grim situation for NRXP stock ahead. But all is not lost, as the launch of ZYESAMI could turn the tables and totally change the situation for NRXP stock.