NRx receives $5M advance milestone from Alvogen/Lotus, issues 4.2M warrants at $0.40

NRX Pharmaceuticals, Inc.

$5M received immediately; funds NRX-101 development through Phase 2 FDA meeting.
Alvogen receives 4,195,978 warrants at $0.40 strike, 3-year term.
Second $4M milestone due within 60 days of positive end-of-Phase 2 FDA meeting.
NRx eligible for up to $320M in future milestones and tiered double-digit royalties.
Alvogen/Lotus to cover future NRX-101 development and commercialization costs.

Key facts

Extracted from this filing and checked against the source text.

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

NRX Pharmaceuticals, Inc. amended First Amendment with Alvogen Pharma US, Inc., Alvogen, Inc. and Lotus Pharmaceutical Co. Ltd. valued at $5 million (effective 2024-02-07).

Action: amendment
Agreement: license
Counterparty: Alvogen Pharma US, Inc., Alvogen, Inc. and Lotus Pharmaceutical Co. Ltd.
Value: $5 million
Effective: 2024-02-07

Exact text from the filing

On February 7, 2024, NeuroRx, Inc., a wholly-owned subsidiary of NRx Pharmaceuticals, Inc. (together, the “ Company ”), entered into the First Amendment (the “ Amendment ”) to the Exclusive, Global Development, Supply, Marketing & License Agreement, dated as of June 2, 2023 (the “ License Agreement ”), with Alvogen Pharma US, Inc., Alvogen, Inc. and Lotus Pharmaceutical Co. Ltd. (collectively, “ Alvogen ”), effective as of the same date.

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NRX Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-022648

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