NRx Pharmaceuticals Announces Advance $5M Milestone Payment From Alvogen And Lotus Pharmaceutical
Portfolio Pulse from Benzinga Newsdesk
NRx Pharmaceuticals has received a $5M milestone payment from Alvogen and Lotus Pharmaceutical, extending its cash runway. The payment is part of an agreement that could see NRx eligible for up to $324M in additional milestones, plus royalties, upon NRX-101's approval and commercialization.
February 12, 2024 | 1:35 pm
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NRx Pharmaceuticals receives a significant $5M milestone payment from Alvogen and Lotus Pharmaceutical, enhancing its financial stability and extending its operational runway.
The $5M milestone payment directly benefits NRx Pharmaceuticals by improving its financial position, which is crucial for the continuation of its NRX-101 registrational trials. The potential for additional milestone payments and royalties upon the drug's approval and commercialization further underscores the significance of this development for NRx Pharmaceuticals. This financial boost is likely to be viewed positively by investors, potentially leading to a short-term increase in NRXP's stock price.
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