NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) issued a statement on June 25, 2026, responding to public allegations made by Kadima Neuropsychiatry Institute regarding the non-acquisition of Kadima by HOPE Therapeutics, Inc., a majority-owned subsidiary of NRx.

NRx stated it has compelled arbitration with Kadima over the institute's claimed failure to meet key closing conditions in the transaction documents, including delivery of clear title to assets and a material adverse change in the condition of the business. The company said Kadima signed a binding arbitration agreement and entered into active arbitration.

NRx management stated it does not believe acquiring Kadima would be in the best interests of patients or shareholders, and does not consider the acquisition or non-acquisition of any individual clinic to be material to HOPE's overall business model.

Kadima's founder, Dr. Feifel, filed a suit seeking specific performance to compel HOPE Therapeutics to incorporate his practice into the HOPE network. NRx said it does not believe the litigation is a valid venue and expects San Diego courts to direct the matter back to arbitration.

NRx also disclosed that HOPE's scientific direction has shifted toward neuronavigated Transcranial Magnetic Stimulation (TMS) combined with neuroplastic drugs, an approach the company characterized as inconsistent with Dr. Feifel's orientation. The company referenced a partnership with Zeta Surgical, which demonstrated a robotic neuronavigated TMS system at a recent Clinical Transcranial Magnetic Stimulation Society meeting, and noted that the FDA cleared an Investigational New Drug application for the SPARC-TMS trial combining NRX-101 with robotic neuronavigated TMS, with trials expected to begin at civilian and military facilities in the fall.