NRXP seeks to raise capital through an underwritten offering, with underwriters granted a 30-day option for additional shares.
NRx Pharmaceuticals (NRXP) announced plans for an underwritten public offering of common stock. The clinical-stage biopharmaceutical firm will grant underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering.
The company, focused on developing treatments for central nervous system disorders, did not disclose the number of shares or the expected pricing. Prior offerings in the biotech sector have often aimed to fund late-stage clinical trials or commercialization efforts.
Shares of NRXP were halted pending the announcement, with no immediate market reaction reported.