NRX Pharmaceuticals - CW22 | 10-Q: FY2025 Q1 EPS: USD -0.34

EPS: As of FY2025 Q1, the actual value is USD -0.34.

Segment Revenue

• The company has not generated any revenue during the three months ended March 31, 2025, or the year ended December 31, 2024.

Operational Metrics

• Net Loss: The company reported a net loss of $5.5 million for the three months ended March 31, 2025, compared to a net loss of $6.5 million for the same period in 2024.
• Operating Expenses: Total operating expenses decreased from $5.998 million in 2024 to $3.847 million in 2025, primarily due to reduced research and development and general administrative expenses.
• Research and Development: Expenses were $0.8 million in 2025, down from $1.7 million in 2024, reflecting the conclusion of the phase 2 study related to NRX-101 and cash conservation efforts.
• General and Administrative: Expenses were $2.9 million in 2025, down from $4.3 million in 2024, due to decreases in insurance, stock-based compensation, consultant fees, and employee expenses.

Cash Flow

• Net Cash Used in Operating Activities: The company used $3.5 million in cash for operating activities in the three months ended March 31, 2025, compared to $3.7 million in the same period in 2024.
• Net Cash Provided by Financing Activities: Financing activities provided $7.6 million in cash during the three months ended March 31, 2025, primarily from proceeds of $3.3 million from issuance of common stock and warrants related to the RD Offering and $5.0 million from the Anson Notes.

Unique Metrics

• Convertible Notes Payable: The carrying value of Anson Notes was $8.397 million as of March 31, 2025.

Future Outlook and Strategy

• Core Business Focus: The company plans to submit two lead drug candidates for FDA approval in the second quarter of 2025, with anticipated FDA decision dates by year-end 2025. The company aims to transform from a pre-revenue biotechnology company to a revenue-generating enterprise through its subsidiary HOPE Therapeutics, which will focus on interventional psychiatric treatment.
• Non-Core Business: The company is negotiating acquisitions of precision psychiatry centers to form the foundation for HOPE Therapeutics, aiming to create a national network offering interventional psychiatry to treat suicidal depression and PTSD. The company has executed a term sheet for a strategic investment of $2.5 million to support the expansion of HOPE clinics.