NRx settles litigation, transfers aviptadil assets to Relief for up to $43M in milestones/royalties; Q3 net loss $9.1M

NRX Pharmaceuticals, Inc.

NRx transfers all ZYESAMI (aviptadil) assets to Relief Therapeutics; receives up to $13M in milestones + up to $30M royalties capped; litigation dismissed at closing within 30 days.
Q3 2022 net loss $9.1M vs $37.0M in Q3 2021; R&D $4.1M, G&A $5.0M; cash $18.2M at Sep 30, 2022.
Completed $10M unsecured debt financing on Nov 7, 2022, net proceeds to support NRX-101 development.
NRx to initiate registrational Phase 3 trial of NRX-101 in bipolar depression with acute suicidality by year-end 2022; top-line data expected 3Q 2023.
NRx agrees not to compete in aviptadil development; Relief must use commercially reasonable efforts to commercialize and continue Right to Try program for 2 years.

item 1.01 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NRX Pharmaceuticals, Inc. reported financial results for third quarter 2022.

Period: third quarter 2022
Result: reported results

Exact text from the filing

On November 14, 2022, the Company announced its financial results for the third quarter 2022.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NRX Pharmaceuticals, Inc. entered into APA with Relief Therapeutics Holding AG and Relief Therapeutics International valued at up to an aggregate amount of $13.0 million (effective 2022-11-12).

Action: entry
Agreement: settlement
Counterparty: Relief Therapeutics Holding AG and Relief Therapeutics International
Value: up to an aggregate amount of $13.0 million
Effective: 2022-11-12

Exact text from the filing

On November 12, 2022, NRx Pharmaceuticals, Inc. (“NRx” or the “Company”) entered into a Settlement Agreement and Asset Purchase Agreement (“APA”) with Relief Therapeutics Holding AG and Relief Therapeutics International (the “Relief Parties”) to settle the outstanding lawsuit with respect to the Binding Collaboration Agreement dated September 18, 2020 between the Company and the Relief Parties (the “Collaboration Agreement”).

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NRX Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0000950142-22-003160

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