NRx Pharmaceuticals, Inc. has fully repaid the remaining $5.4 million of balance sheet debt owed to Anson Funds LLC through an equity conversion into common stock. The transaction, which involved no warrants or repricing mechanisms, retires the original $16.2 million loan that was used for prior debt repayment and operating expenses.
The clinical-stage biopharmaceutical company now expects to end calendar year 2025 completely debt-free. This positions its capital structure to better support anticipated drug approvals and clinic expansions. Chairman and CEO Dr. Jonathan Javitt expressed gratitude to Anson for its support during what he described as a challenging biotech market environment.
The company is making progress toward potential 2026 approvals and expansion for treatments addressing suicidal depression and PTSD. NRx Pharmaceuticals is developing therapeutics based on its NMDA platform for central nervous system disorders, specifically suicidal depression, chronic pain, and PTSD. The company's pipeline includes NRX-100, a preservative-free intravenous ketamine, and NRX-101, an oral D-cycloserine/lurasidone combination.
NRX-100 has been awarded Fast Track Designation for the treatment of Suicidal Ideation in Depression, including Bipolar Depression. NRX-101 has received Breakthrough Therapy Designation for the treatment of suicidal bipolar depression. The company has recently filed an Abbreviated New Drug Application and initiated a New Drug Application filing for NRX-100 with an application for the Commissioner's National Priority Voucher Program for the treatment of suicidal depression.
This debt elimination comes at a critical time for the company as it advances its clinical programs. The removal of debt obligations provides greater financial flexibility and reduces financial risk as the company moves toward potential regulatory milestones. More information about the company is available at https://www.nrxpharma.com.
The broader psychedelic therapeutics sector continues to evolve, with companies like NRx Pharmaceuticals working to address significant unmet medical needs in mental health treatment. The company's progress can be followed through specialized communications platforms focused on psychedelic sector developments, such as https://www.PsychedelicNewsWire.com, which provides coverage of the latest advances in this emerging field.
