One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
NRx Pharmaceuticals, Inc.
NRXP · NCM · Healthcare · Biotechnology
Current price
$2.55
52-week range
$1.62 - $5.05
Market cap
$110.40M
Balance sheet
Healthy
-24.18x Concerning
Net cash $25.85M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
0 Risks
1 rewards · 0 risks
View details ↓What this company does
NRx Pharmaceuticals, Inc.
NRx Pharmaceuticals is developing new medicines and treatments for serious brain health conditions like suicidal depression and PTSD. Their main money-maker comes from offering a mix of special drugs and therapy services to patients who haven't responded well to other treatments. This matters because they are trying to address critical unmet needs in mental healthcare with their innovative approach.
How the company got here
NRx Pharmaceuticals, Inc. was founded in 2015 with the goal of developing new treatments for serious mental health conditions. The company has focused its efforts on conditions like suicidal depression, post-traumatic stress disorder (PTSD), and schizophrenia. A key part of its journey involves clinical trials, which are research studies to test if new medicines are safe and effective. NRx Pharmaceuticals operates through two main parts of its business: NRx and Dura.
What it actually does
NRx Pharmaceuticals is a biopharmaceutical company that works on creating medicines for brain and nervous system disorders. Instead of selling products directly to consumers, it focuses on developing drugs that it hopes will be approved by regulatory bodies like the FDA for doctors to prescribe. The company is currently in the 'clinical-stage,' meaning its potential treatments are still being tested and are not yet available on the market. Its work involves complex scientific research and development to find new ways to treat challenging mental health issues.
NRx
The NRx segment is focused on developing specific drug candidates for mental health conditions. One key drug in development is NRX-101, which is being tested for bipolar depression that includes thoughts of self-harm. Another focus is NRX-100, a special formulation of ketamine designed for intravenous use to treat suicidal depression. This part of the business represents the core drug development pipeline, aiming to bring new therapeutic options to patients suffering from severe mood disorders.
Dura
The Dura segment offers a range of interventional psychiatry services. This includes treatments for patients with depression and PTSD that haven't responded well to other therapies. Services provided combine medications that aim to promote nerve cell growth (neuroplastic drugs) with other treatments like transcranial magnetic stimulation (TMS), which uses magnetic fields to stimulate nerve cells in the brain. It also includes ketamine infusion therapy and other supportive care services, offering a more comprehensive approach to treatment-resistant mental health conditions.
What management is betting on now
NRx Pharmaceuticals is primarily focused on advancing its clinical trials for NRX-101, aiming to demonstrate its effectiveness and safety for treating suicidal depression. The company is also working on the development and potential commercialization of its ketamine-based treatments. Management is betting that successful clinical trial outcomes will lead to regulatory approval, allowing these new therapies to reach patients in need. Success in these trials is crucial for the company's future growth and its ability to generate revenue.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-2.31M
FY2024 Q4
$-2.10M
FY2025 Q1
$-3.48M
FY2025 Q2
$-4.03M
FY2026 Q2
$-9.77M
Revenue
$1.10M
Net income
$-16.52M
Diluted EPS
—
Operating cash flow
$-8.88M
Free cash flow
$-9.77M
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Sources
Revenue
$1.07M
Net income
$-1.43M
Diluted EPS
—
Operating cash flow
$-4.29M
Free cash flow
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Sources
Revenue
$983.00K
Net income
$361.00K
Diluted EPS
—
Operating cash flow
$-3.71M
Free cash flow
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Sources
Revenue
$242.00K
Net income
$-5.89M
Diluted EPS
—
Operating cash flow
$-2.89M
Free cash flow
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Sources
Revenue
$0.00
Net income
$-17.58M
Diluted EPS
—
Operating cash flow
$-4.03M
Free cash flow
$-4.03M
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Sources
Revenue
$0.00
Net income
$-5.51M
Diluted EPS
—
Operating cash flow
$-3.48M
Free cash flow
$-3.48M
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Sources
Revenue
$0.00
Net income
$-9.08M
Diluted EPS
—
Operating cash flow
$-2.10M
Free cash flow
$-2.10M
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Sources
Revenue
$0.00
Net income
$-1.62M
Diluted EPS
—
Operating cash flow
$-2.31M
Free cash flow
$-2.31M
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Sources
Is it cheap or expensive?
Fair value — vs current price $2.55
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $25.9M - more cash than debt. Interest coverage -24.2x.
Net debt
$-25.85M
Interest coverage
-24.18x
Healthy
Worse cushion
Baseline
Better cushion
NRXP
BASELINE
NRx Pharmaceuticals, Inc.
Total debt $834.00K Interest coverage -24.18x This is the baseline the peer rows are being compared against.
What you should know
The case for and against NRXP
1 Reward
0 Risks
Rewards
-
Revenue grew 177.1% last year.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-7.29x
P/B
-637.50x
P/S
32.53x
EV/EBITDA
-4.14x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
46.6%
Operating margin
-590.5%
Net margin
0.0%
ROE
—
ROA
-64.0%
Health
Liquidity and balance-sheet strength
Debt / equity
—
Current ratio
0.86x
Quick ratio
0.79x
Total debt
$834.00K
Total cash
$26.69M
Growth
How the business has been compounding
Revenue TTM
$3.39M
Revenue 5Y CAGR
—
EPS TTM
-0.53
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-19.77M
Free CF TTM
$-10.64M
FCF margin
-313.4%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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