NRX Pharmaceuticals (NRXP) has provided an announcement.
NRx Pharmaceuticals, Inc. has received an immediate termination notice from Alvogen regarding their joint development and marketing agreement for NRX-101, a breakthrough therapy for suicidal bipolar depression and chronic pain. While Alvogen has withdrawn due to the projected need for extensive clinical trials, NRx Pharmaceuticals believes recent trial findings support a viable application for Accelerated Drug Approval, targeting an estimated $3.7 billion market. The company plans to pursue this without a large commercial partner and is also finalizing a New Drug Approval for NRX-100.
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