Class Action Suit Against NRx Pharmaceuticals Dismissed
RADNOR, Pa., June 22, 2022 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) ("NRx Pharmaceuticals"), a clinical-stage, biopharmaceutical company, is pleased to announce that on June 13, 2022, the plaintiffs in the securities class action lawsuit captioned "Dal Bosco v. NRx Pharmaceuticals, Inc. et al." filed a notice in the U.S. District Court for the District of Delaware voluntarily dismissing the action against NRx Pharmaceuticals and its former officers. The dismissal was made without prejudice.
"We are pleased by the plaintiff's action," said Robert Besthof, Interim CEO. "Our focus is on developing life-saving medicines, and we continue to focus on the development of NRX-101. We will further evaluate the opportunities for ZYESAMI® once we receive the full data from the ACTIV-3b / TESICO NIH Study. "
NRx Pharmaceuticals, Inc. draws upon decades of collective, scientific, and drug-development experience applying innovative science to known molecules to address very high unmet needs and bring improved health to patients. The Company is developing NRX-101, its proprietary fixed dose combination as a treatment for Bipolar Depression in Patients with Acute Suicidal Ideation and Behavior (ASIB). The U.S. Food and Drug Administration ("FDA") has granted Breakthrough Therapy designation, a Special Protocol Agreement, and a Biomarker Letter of Support for NRX-101. NRx Pharmaceuticals is led by executives who have held leadership roles at Lilly, Pfizer, and Novartis as well as major investment banking institutions.
This announcement of NRx Pharmaceuticals, Inc. includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995, which may include, but are not limited to, statements regarding our financial outlook, product development, business prospects, and market and industry trends and conditions, as well as the Company's strategies, plans, objectives, and goals. These forward-looking statements are based on current beliefs, expectations, estimates, forecasts, and projections of, as well as assumptions made by, and information currently available to, the Company's management.
The Company assumes no obligation to revise any forward-looking statement, whether as a result of new information, future events or otherwise. Accordingly, you should not place reliance on any forward-looking statement, and all forward-looking statements are herein qualified by reference to the cautionary statements set forth above.
Sr. Director, Global Communications
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SOURCE NRx Pharmaceuticals, Inc.
Released June 22, 2022