NRX Pharmaceuticals (NASDAQ:NRXP) shares are trading sharply lower in after-hours trading on Tuesday.
NRXP shares fell 19.05% to $3.74 in after-hours trading after the company announced a proposed underwritten public offering of common stock.
NRx Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system disorders, including suicidal depression, bipolar depression and post-traumatic stress disorder (PTSD). The company has filed an ANDA and initiated an NDA filing for NRX-100, its preservative-free intravenous ketamine therapy.
Proposed Public Offering
The company announced that it intends to offer shares of its common stock in an underwritten public offering. NRx also expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares sold in the offering.