NeuroRx said Tuesday it had been approved for listing on the Nasdaq Global Market via a SPAC merger with Big Rock Partners Acquisition Corp. The combined entity is NRx Pharmaceuticals, Inc. and will trade on the Nasdaq Global Market as NRXP.
The company will have an estimated post-transaction value of more than $1.5 billion, the Haifa-based company said.
NRx will use the funds from the offering to continue development of two investigational medicines: ZYESAMI, (Aviptadil acetate) the first FDA Fast Track-designated investigational medicine, being studied in critically-ill patients with COVID-19 induced respiratory failure, and NRX-101 (a combination drug therapy of D-cycloserine and lurasidone), the first investigational medicine to receive FDA Breakthrough Therapy Designation for patients with suicidal bipolar depression.
Both drugs are now in FDA-approved phase 3 clinical trials, the company said.
“Today marks a major milestone as we include public investors in our quest to bring innovative medicines to patients at immediate risk of death, who have no currently-approved medicinal therapies. We live by our credo of “Bringing Hope to Life,” said Professor Jonathan Javitt, MD, MPH, Founder, CEO and Chairman of the Board, of NRx. “We are indebted to the leaders and shareholders of BRPA who have chosen to support our mission.”