MIAMI, Jan. 10, 2025 /PRNewswire/ -- HOPE Therapeutics™, Inc., ("HOPE"), a medical and technology driven company, and a wholly-owned subsidiary of NRx Pharmaceuticals, Inc. ("NRx", and collectively with HOPE, the "Company") (Nasdaq:NRXP), today announced it conducted an investor workshop to support planned expansion of HOPE's network of interventional psychiatry practices focused on the treatment of suicidal depression and PTSD, at the Mar-A-Lago Club in Palm Beach, FL.
The event was attended by Qualified Institutional Buyers as defined by the Securities and Exchange Commission and included Jonathan Javitt, MD, MPH, Chairman and CEO of NRx together with Dallas Sauer, Founder of Smith and Sauer, the private investment firm that recently committed to invest in both NRx and HOPE. No formal meetings were conducted with members of the incoming administration.
Key areas of investor discussions included:
- HOPE's mission to build an international network of best-in class, EBITDA positive, interventional psychiatry clinics
- $25 million financing committed by Smith and Sauer (JGS Holdings LLC) to leverage anticipated bank financing projected to secure $100 million in HOPE clinic revenue stream on a pro-forma basis
- Recently announced progress for HOPE's initial clinic acquisitions
- Potential mechanisms for follow-on non-dilutive financing to expand HOPE's network by an additional 50 clinics in 2026 and 100 clinics in 2027
- Plans for integration of new technologies and a CRM-based information technology and telepsychiatry umbrella to span the HOPE network
Based on the results of today's meeting, NRx has been invited to return to Mar-A-Lago for an expanded meeting during the last week of January 2025 that will include both Qualified Institutional Buyers and Accredited Investors. Individuals interested in attending are invited to contact Matthew Duffy, Co-CEO of HOPE Therapeutics.
"We were gratified by the enthusiastic response and inciteful questions we received from this group of sophisticated attendees and look forward to future discussions," said Jonathan Javitt, MD MPH, Founder, Chairman & CEO of NRx, and Co-CEO HOPE Therapeutics. "Our mission to treat and prevent suicidality in our society in general, and our military/veteran communities in particular, clearly resonated with those who joined us this evening."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (www.hopetherapeutics.com) is a development stage healthcare delivery company that intends to develop a best-in-class network of interventional psychiatry clinics to offer ketamine transcranial magnetics stimulation (TMS) and other lifesaving therapies to patients with suicidal depression and related disorders, together with a digital therapeutic-enabled platform designed to augment and preserve the clinical benefit of NMDA-targeted drug therapy.
About NRx Pharmaceuticals, Inc.
NRx Pharmaceuticals is a clinical-stage biopharmaceutical company developing therapeutics based on its NMDA platform for the treatment of central nervous system disorders, specifically suicidal bipolar depression, chronic pain, and PTSD. The Company is developing NRX-101, an FDA-designated investigational Breakthrough Therapy for suicidal treatment-resistant bipolar depression and chronic pain. NRx plans to file an NDA for Accelerated Approval for NRX-101 in patients with bipolar depression and suicidality or akathisia. NRX-101 additionally has potential to act as a non-opioid treatment for chronic pain, as well as a treatment for complicated UTI.
NRx has recently announced initiation of filing a New Drug Application for NRX-100 (IV ketamine) for the treatment of suicidal depression, based on results of well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and newly obtained data from French health authorities, licensed under a data sharing agreement. NRx was awarded Fast Track Designation for development of ketamine (NRX-100) by the US FDA as part of a protocol to treat patients with acute suicidality.
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, among others, statements regarding closing the acquisition of Kadima and obtaining financing necessary to consummate the acquisition. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company's operations, results of operations, growth strategy, liquidity, Hope Therapeutic's ability to consummate the acquisitions of providers for its national network, the Company's ability to raise adequate capital to fund the Hope Therapeutics acquisitions, and the Company's ability to spin-off Hope Therapeutics. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. Except as may be required by applicable law, The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.
For further information:
Matthew Duffy
Chief Business Officer, NRx Pharmaceuticals
Co-Chief Executive Officer, HOPE Therapeutics, Inc.
mduffy@nrxpharma.com
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SOURCE NRx Pharmaceuticals, Inc.
