A lawsuit was filed on behalf of investors in NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/02/2022 -- An investor, who purchased shares of NRx Pharmaceuticals, Inc. (NASDAQ: NRXP), filed a lawsuit over alleged violations of Federal Securities Laws by NRx Pharmaceuticals, Inc.
Investors who purchased shares of NRx Pharmaceuticals, Inc. (NASDAQ: NRXP) have certain options and for certain investors are short and strict deadlines running. Deadline: March 21, 2022. NASDAQ: NRXP investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Wilmington, DE based NRX Pharmaceuticals, Inc., a clinical-stage small molecule pharmaceutical company, develops various therapeutics for the treatment of central nervous system disorders and life-threatening pulmonary diseases. The Company's products include, among others, ZYESAMI, an investigational pre-commercial drug for COVID-19 related respiratory failure.
In June 2021, NRx Pharmaceuticals, Inc. announced that it filed an application with U.S. Food and Drug Administration ("FDA") requesting Emergency Use Authorization ("EUA") for ZYESAMI (Aviptadil-acetate) to treat critically ill COVID-19 patients suffering with respiratory failure (the "ZYESAMI EUA Application").
On November 4, 2021, NRx Pharmaceuticals, Inc. issued a press release "announc[ing] that the [FDA] has declined to issue an [EUA] for ZYESAMI® (aviptadil). The FDA stated that it was unable to issue the EUA at this time due to insufficient data regarding the known and potential benefits of the medicine and the known and potential risks of ZYESAMI in patients suffering from Critical COVID-19 with respiratory failure."
Shares of NRx Pharmaceuticals, Inc. (NASDAQ: NRXP) declined from $13.49 per share on October 14, 2021, to as low as $2.76 per share on January 31, 2022.
The plaintiff claims that between June 1, 2021 and November 4, 2021, the Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the ZYESAMI EUA Application contained insufficient data regarding the potential benefits and risks of ZYESAMI; (ii) accordingly, the FDA was unlikely to approve the ZYESAMI EUA Application in its present form; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of NRx Pharmaceuticals, Inc. (NASDAQ: NRXP) have certain options and should contact the Shareholders Foundation.
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