NRx Pharmaceuticals Inc. (NASDAQ: NRXP) announced its intention to conduct an underwritten public offering of common stock. The clinical-stage biopharmaceutical company plans to grant underwriters a 30-day option to purchase up to an additional 15% of shares sold in the offering on the same terms and conditions.

BTIG LLC will serve as lead bookrunner for the offering, with Lucid Capital Markets LLC acting as joint bookrunning manager. The company stated it intends to use net proceeds for working capital and general corporate purposes to support growth.

The offering is subject to market and other conditions, with no assurance regarding completion timing or final size and terms. Shares will be offered through an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission and declared effective on December 22, 2025.

NRx Pharmaceuticals develops therapeutics based on its NMDA platform for treating central nervous system disorders, including suicidal depression, chronic pain and PTSD. The company is developing NRX-100, preservative-free intravenous ketamine, and NRX-101, an oral D-cycloserine/lurasidone combination.

NRX-100 received Fast Track Designation for treating suicidal ideation in depression, including bipolar depression. NRX-101 was awarded Breakthrough Therapy Designation for suicidal bipolar depression treatment. The company has filed an Abbreviated New Drug Application and initiated a New Drug Application filing for NRX-100.

Information in this article is based on the company's press release announcement.