NRX Pharmaceuticals Inc logo

NRX Pharmaceuticals Inc(NRXP)

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EXPLORE ADVISORIES AND THEIR HISTORY
QUALITY SIGNAL
2-STAR RATING
PASS
LAST CLOSE
$2.89
10/08/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Simulated performance—not actual client returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for methodology, assumptions, and limitations.

Advisory Performance History (Simulated)Advisory Performance History info

Simulated performance—not actual client returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for methodology, assumptions, and limitations.

Upturn Advisory & Investor View for NRXP

10/08/2026: NRXP (2-star) is currently NOT-A-BUY. Pass it for now.

NRX Pharmaceuticals is a clinical-stage biotechnology company focused on developing novel treatments for central nervous system disorders, primarily bipolar depression. Its primary investment story hinges on the potential success of its lead candidate, NRX-101, which targets high-unmet-need psychiatric conditions. The company's main strength lies in its strategy of repurposing known compounds, though it faces significant financial, regulatory, and execution risks common to pre-commercial biotech firms. The stock is best suited for speculative growth investors who understand the high volatility associated with clinical trial outcomes. Investors should closely monitor clinical trial data readouts and the company's ability to maintain sufficient liquidity to support its R&D roadmap.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThis is a speculative growth play dependent on future clinical milestones.
Momentum investorMixed fitMomentum is conditional on positive clinical data or regulatory news flow.
Value investorWeak fitLack of earnings and product revenue makes traditional value metrics inapplicable.
Dividend investorWeak fitThe company does not pay dividends and reinvests all capital into R&D.
Low-risk investorWeak fitThe company's clinical-stage status entails high volatility and risk of capital loss.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighClinical-stage biotech stocks are subject to sharp price swings based on news.
Valuation riskHighValuations are highly speculative as there are no current product revenues.
Competition risk (psychiatric drugs)HighThe company faces intense competition from established pharmaceutical giants.
Business qualityMediumThe company is early-stage with an unproven commercial business model.
Dividend incomeLow / noneThere is no dividend income and none is expected in the near term.
Execution riskHighFailure to achieve regulatory approval would significantly damage the business.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit 216.51%
Avg. Invested days 35
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 5.0
Stock Returns Performance Upturn Returns Performance icon 5.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 10/08/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
NRXP receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by soft unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

★★★★★
NRXP has moderate overall fundamentals (3 stars), with soft financial health, soft growth momentum, and moderate ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-13.9%), weak cash generation (FCF margin -1152.0%), slightly negative revenue growth (+0.0%).

Financial Health Rating

★★★★★
NRXP's financial health is soft, with the relatively strongest area being soft efficiency, including operating-expense and cost-of-revenue discipline (opex 1383.2% of revenue). Overall financial-health metrics support a 2-star score.

Growth Momentum Score

★★★★★
NRXP's growth profile is soft, with the least-weak measure being revenue growth at +0.0% FY2025 versus FY2024. By comparison, while earnings growth (-13.9%, negative) and free-cash-flow growth (-32.7%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 27.1% (moderate) and 86.4% of outstanding shares are publicly tradable (strong). Insider ownership of 4.12% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

B Group, Inc 9.45%
Vanguard Capital Management, LLC 3.74%
Columbia Mgmt Investment Advisers, LLC 2.15%
Balyasny Asset Management LLC 2.06%
Citadel Advisors Llc 1.57%

Unit Economics (Per $1K Revenue)

★★★★★
NRXP generates approximately $588 of gross profit, $-13,244 of operating income, and $-11,520 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Operating losses and cash burn explain the 2-star rating, with weak cash conversion and strong capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
NRXP has a liquid profile. Weak momentum is the primary drawback, while soft valuation.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 125.56M USD
Price to earnings Ratio -
1Y Target Price 38.5
Price to earnings Ratio -
1Y Target Price 38.5
Volume (30-day avg) 631.5K shares
Beta 2.07
52 Weeks Range 1.62 - 5.05
Updated Date 10/08/2026
52 Weeks Range 1.62 - 5.05
Updated Date 10/08/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.58

How Company Makes Money

Business areaWhat it includesRetail investor read
CNS Pipeline DevelopmentClinical development of NRX-101 for bipolar depression.The company aims to profit by successfully developing and commercializing new psychiatric drugs.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 34.25
Enterprise Value 111.37M
Price to Sales(TTM) 36.99
Enterprise Value 111.37M
Price to Sales(TTM) 36.99
Enterprise Value to Revenue 32.82
Enterprise Value to EBITDA -0.15
Shares Outstanding 43.30M
Shares Floating 37.39M
Shares Outstanding 43.30M
Shares Floating 37.39M
Percent Insiders 4.12
Percent Institutions 27.13

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About NRX Pharmaceuticals Inc

Exchange NASDAQ
Headquarters Wilmington, DE, United States
IPO Launch date 2017-12-04
Co-Founder, Chairman & CEO Dr. Jonathan C. Javitt M.D., M.P.H.
Sector Healthcare
Industry Biotechnology
Full time employees 29
Full time employees 29

NRx Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, develops therapeutics for the treatment of central nervous system disorders comprising suicidal depression, post-traumatic stress disorder (PTSD), and schizophrenia in the United States. It operates through NRx and Dura segments. The company develops NRX-101, an oral fixed-dose combination of D-cycloserine (DCS) and lurasidone in Phase 2/3 clinical testing for bipolar depression with sub-acute ideation and behavior; NRX-100, a preservative-free formulation of ketamine for intravenous infusion and for the treatment of suicidal depression; and KETAFREE, a generic preservative-free formulation of ketamine. It also provides precision-based interventional psychiatry services to patients with treatment-resistant depression and PTSD using a combination of neuroplastic drugs, transcranial magnetic stimulation (TMS), digital therapeutics, and hyperbaric therapy; ketamine infusion therapy; stellate ganglion blocks; Spravato administration; psychotherapy; and medication management. The company has a development and license agreement with Glytech LLC. NRx Pharmaceuticals, Inc. was founded in 2015 and is headquartered in Wilmington, Delaware.

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