NRx Pharmaceuticals Inc. (NASDAQ: NRXP) completed its public offering of common stock, raising approximately $22.3 million in gross proceeds before underwriting fees and expenses.

The clinical-stage biopharmaceutical company sold shares at $3.50 per share, with the offering including the exercise of underwriters' option to purchase additional shares. BTIG LLC served as lead bookrunning manager while Lucid Capital Markets LLC acted as joint bookrunning manager.

The company plans to use net proceeds for working capital and general corporate purposes to support growth, according to the announcement.

"We at NRx thank the fundamental healthcare investors together with BTIG and Lucid who have placed their trust in us to bring lifesaving drugs to market," said Jonathan Javitt, chairman and CEO of NRx Pharmaceuticals.

NRx Pharmaceuticals develops therapeutics for central nervous system disorders, focusing on suicidal depression, chronic pain, and PTSD. The company's pipeline includes NRX-100, a preservative-free intravenous ketamine that received Fast Track Designation for treating suicidal ideation in depression, and NRX-101, an oral combination drug awarded Breakthrough Therapy Designation for suicidal bipolar depression.

The offering was conducted under an effective shelf registration statement filed with the Securities and Exchange Commission and declared effective in December 2025.