NRX Pharmaceuticals, Inc.
For the period ended Dec 31, 2025. Filed Mar 23, 2026.
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FY2025 · Filed Mar 23, 2026
NRXP$2.380.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(in thousands, except share and per share data)
| Years Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Net patient service revenue | $1,225 | $— |
| Operating expenses: | — | |
| Cost of patient services | 505 | — |
| Research and development | 3,777 | 6,199 |
| Selling, general and administrative | 13,061 | 13,500 |
| Depreciation and amortization | 70 | 5 |
| Settlement expense (income) | 36 | (1,202) |
| Total operating expenses | 17,449 | 18,502 |
| Loss from operations | (16,224) | (18,502) |
| Other expenses (income): | ||
| Interest income | (12) | (44) |
| Interest expense | 671 | 230 |
| Change in fair value of convertible notes payable | 3,939 | 2,654 |
| Change in fair value of warrant liabilities | 4,926 | 1,657 |
| Loss on issuance of Registered Direct Offering | 730 | — |
| Loss on Consideration Shares and Warrants | 1,277 | — |
| Convertible note default penalty | — | 849 |
| Loss on convertible note conversions | 6,201 | 1,278 |
| Loss from equity method investments | 35 | — |
| Gain on exercise of warrants | (5,369) | — |
| Total other expense, net | 12,398 | 6,624 |
| Net loss | $(28,622) | $(25,126) |
| Net loss per share: | ||
| Basic and diluted | $(1.34) | $(2.36) |
| Weighted average Common Stock outstanding: | ||
| Basic and diluted | 21,401,683 | 10,644,461 |
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