NRx Pharmaceuticals To Distribute Shares of HOPE Therapeutics And Royalty Rights On Ketamine Sales To Existing NRx Shareholders
Portfolio Pulse from Benzinga Newsdesk
NRx Pharmaceuticals plans to distribute 49% of HOPE Therapeutics stock and a 1% royalty right on Ketamine sales to its shareholders. The Board of Directors has authorized necessary steps to effectuate this dividend and royalty rights distribution, pending completion of legal, accounting, and regulatory requirements.
March 18, 2024 | 12:35 pm
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NRx Pharmaceuticals is set to distribute 49% of HOPE Therapeutics stock and a 1% royalty on Ketamine sales to its shareholders, pending regulatory approval.
The distribution of HOPE Therapeutics stock and Ketamine sales royalty rights to NRx Pharmaceuticals shareholders is a significant positive development. It not only potentially increases shareholder value but also strengthens the company's investment appeal. The completion of this action is contingent upon regulatory, legal, and accounting approvals, which introduces a level of uncertainty. However, the announcement itself is likely to be viewed positively by the market in the short term.
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