NRX Pharmaceuticals, Inc.
For the period ended Mar 31, 2026. Filed May 15, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 15, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-14.
0001437749-25-035210
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-15.
0001437749-26-017397
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 10 previous paragraphs and 8 current paragraphs.
3 unchanged; 1 reworded; 4 added; 6 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (4)
Current report
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Current report
Item 3. Defaults Upon Senior Securities
Removed paragraphs (6)
Previous report
There is no assurance that the anticipated acquisition of Kadima (as defined below) will be completed or that the Company will realize the anticipated benefits from the acquisition.
Previous report
On May 9, 2025, HOPE entered into an Asset Purchase and Contribution Agreement (the “Kadima Purchase Agreement”), with HTX Management Company, LLC, Kadima Neuropsychiatry Institute, Medical Corp., Kadima Holdings, Inc., and David Feifel, M.D., PH.D. (collectively, “Kadima”), pursuant to which the Company agreed to purchase, and Kadima agreed to sell, certain assets of Kadima, subject to the satisfaction of certain closing conditions (the “Kadima Acquisition”). As of the date of this Quarterly Report on Form 10-Q, the parties have not closed the Kadima Acquisition and the matter has entered arbitration. At this stage of the arbitration, it is too early to determine if the matter would reasonably be expected to have a material adverse effect on our financial condition. Even if the transactions contemplated by the Kadima Purchase Agreement are completed, the acquisition of the assets being purchased thereunder may not materialize into revenue and generate the financial and strategic benefits the Company expected. The failure to close the Kadima Acquisition would negatively impact the Company’s revenues and return on investment. In addition, should the Kadima Acquisition be consummated, the Company may face operational challenges and unforeseen liabilities that may negatively impact its business.
Previous report
The Company may not realize the anticipated benefits from its acquisition of Dura and Cohen, which could adversely affect stockholder value.
Previous report
The Company recently completed the acquisition of Dura and Cohen. However, there can be no assurance that the Company will be able to successfully integrate Dura’s and Cohen’s operations, personnel, or technologies into its business in a timely or cost-effective manner, or at all. The anticipated benefits of these acquisitions, including expected revenue growth, operational synergies, and enhanced market opportunities, may not be achieved to the extent expected, or may take longer than anticipated to realize. In addition, unforeseen liabilities, increased expenses, operational challenges, or the diversion of management’s attention could negatively impact the Company’s business following the acquisition. If the Company is unable to achieve the intended strategic or financial benefits of these acquisitions, the Company’s business, financial condition, results of operations, and stockholder value could be adversely affected.
Previous report
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* September 30, 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* September 30, 2025.*
Reworded paragraphs (1)
Previous wording
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 “2024 Form 10-K”). Except as set forth below, there have been no material changes to the Risk Factors disclosed in Part I, Item 1A, Risk Factors, of the Company's 2024 Form 10-K.
Current wording
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, 2025 filed with the SEC on March 23, 2026 (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.