- HC Wainwright initiated coverage on NRx Pharmaceuticals Inc NRXP with a Buying rating and a price target of $2.
- Earlier today, the FDA declined to issue an Emergency Use Authorization for NRx's Zyesami for a subgroup of patients who also received Gilead Sciences Inc's GILD remdesivir in addition to Zyesami.
- The analyst is bullish on:
- Significant potential for NRX-101 for bipolar depressed patients that can rapidly stabilize patients with suicidal ideation and behavior. "We believe NRx's focus on treatments for bipolar depression with SIB makes NRx a leader in drug development in this field," HC Wainwright notes.
- Zyesami's nascent value as a novel potential therapy for acute and chronic lung disorders.
- "We believe uncertainty in the Zyesami clinical program has been priced into NRx stock, representing a value proposition ahead of key clinical milestones that could potentially lead to NRX-101 approval in 2024", the analysts added.
- Price Action: NRXP shares are down 5.75% at $0.57 during the market session on the last check Friday.
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