NRX Pharmaceuticals, Inc.

We have disclosed the risk factors that materially affect our business, financial condition or results of operations under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 14, 2025 (the “Annual Report on Form 10-K”). There have been no material changes from the risk factors previously disclosed. You should carefully consider the risk factors set forth in the Annual Report on Form 10-K and other information set forth elsewhere in this Quarterly Report on Form 10-Q. You should be aware that these risk factors and other information may not describe every risk that we face. Additional risks and uncertainties not currently known to us, or that we currently deem to be immaterial, or may not be able to assess, also may materially adversely affect our business, financial condition and/or operating results.

No unregistered sales of equity securities occurred during the three months ended March 31, 2025, that were not previously reported.

No defaults upon senior securities occurred during the three months ended March 31, 2025, that were not previously reported.

Not applicable.

Item5. Other Information

None of our directors or executive officers adopted or terminated a Rule10b5-1 trading arrangement or a non-Rule10b5-1 trading arrangement during the quarter ended* March 31, 2025,as such terms are defined under Item408*(a) of Regulation S-K. Additionally, we didnot adopt or terminate a Rule10b5–1 trading arrangement during the quarter ended* March 31, 2025.*