NRX Pharmaceuticals Inc
NRXPBuild a strategy around NRXP
NRX Pharmaceuticals Inc AI Insights
Informational only. Not investment advice.Snapshot
- Negative equity of -13.8M with current liabilities (25.2M) exceeding total assets (11.9M) — technically insolvent balance sheet.[Common Stockholders Equity]
- TTM FCF of -14.9M vs 6.7M cash on hand implies ~5 months of runway without new capital raises.[Free Cash Flow]
- P/S ratio of 48.3x vs industry median 2.2x — 22x premium on just 2.3M TTM revenue.[P/S Ratio]
Watch Triggers
- Cash and Equivalents: Falls below 3M — At -14.9M annual burn, sub-3M cash signals imminent dilutive raise or going-concern risk
- Total Revenue: Exceeds 5M quarterly run-rate — Would indicate commercial traction sufficient to narrow operating losses toward sustainability
- Current Liabilities: Rises above 30M — Already 2.1x total assets; further growth could trigger creditor actions or covenant issues
Bull Case
Gross margin TTM of 50.5% exceeds industry median of 46.8%, suggesting viable unit economics if revenue scales from current 2.3M base.
EV of 105M with 3.5M in unusual items (gain on sale of security) shows optionality; a single drug approval could transform the revenue profile.
Bear Case
Negative equity (-13.8M), negative working capital (-17.8M), and 25.2M current liabilities create existential solvency risk requiring continuous dilutive financing.
At 48.3x P/S on 2.3M revenue with -24.5M net loss TTM, valuation prices in success with no margin of safety for a pre-profitability biotech.
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
Leverage NRXP's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.
Forward Thesis
Cash runway exhaustion likely forces dilutive equity raise within 6 months
- 6.7M cash vs -14.9M TTM FCF burn rate
- Already issued 3.4M in equity TTM
- Current liabilities of 25.2M dwarf current assets of 7.4M
Revenue of 2.3M TTM is insufficient to cover 18.4M opex — path to breakeven unclear
- Operating loss of -17.2M on 2.3M revenue
- R&D spend of 4.3M is 1.9x total revenue
- Operating margin of -751% vs industry median -6.1%
Valuation Context
Caveats
NRXP Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$110.86M | — | ||
$105.08M | — | ||
0.00 | — | ||
$2.29M | — | ||
$-1.04 | — | ||
-751% | -751.2% | — | |
-1,070% | -1070.2% | — | |
$-14.93M | — | ||
0% | — | ||
Beta 5Y (Monthly) | unknown | — |
NRXP Dividend History
NRXP Stock Splits
NRXP SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/15/26 | 03/31/26 | 10-Q | |
03/23/26 | 12/31/25 | 10-K | |
11/14/25 | 09/30/25 | 10-Q | |
08/18/25 | 06/30/25 | 10-Q | |
05/15/25 | 03/31/25 | 10-Q | |
03/14/25 | 12/31/24 | Unknown | |
11/14/24 | 09/30/24 | 10-Q | |
08/14/24 | 06/30/24 | 10-Q | |
05/14/24 | 03/31/24 | 10-Q | |
03/29/24 | 12/31/23 | 10-K | |
11/14/23 | 09/30/23 | 10-Q | |
08/14/23 | 06/30/23 | 10-Q | |
05/15/23 | 03/31/23 | 10-Q | |
03/31/23 | 12/31/22 | 10-K | |
11/14/22 | 09/30/22 | 10-Q | |
08/15/22 | 06/30/22 | 10-Q | |
05/16/22 | 03/31/22 | 10-Q | |
03/31/22 | 12/31/21 | 10-K | |
11/15/21 | 09/30/21 | 10-Q | |
08/16/21 | 06/30/21 | 10-Q | |
05/16/22 | 03/31/21 | 10-Q | |
03/31/22 | 12/31/20 | 10-K | |
08/12/22 | 09/30/20 | 10-Q/A | |
08/12/22 | 06/30/20 | 10-Q/A |