NRx Pharmaceuticals announced FDA approval of a Suitability Petition for preservative-free ketamine, enabling ANDA re-filing.
Quiver AI Summary
NRx Pharmaceuticals has announced the granting of a Suitability Petition by the FDA for its preservative-free ketamine product, KETAFREE™, which will allow the company to re-file its Abbreviated New Drug Application (ANDA). Currently, ketamine is sold in multi-dose vials containing a toxic preservative, and the new single-patient dose is intended to align with U.S. policy goals of reducing reliance on foreign manufacturing and eliminating harmful preservatives. The U.S. ketamine market is estimated at $750 million, and NRx believes KETAFREE™ will be a strong competitor. The company is also working on NRX-100, an innovative treatment for suicidal depression and PTSD. NRx's CEO expressed gratitude for the FDA's quick response and is eager to bring the new ketamine product to market.
Potential Positives
- Granting of the Suitability Petition allows NRx Pharmaceuticals to re-file its Abbreviated New Drug Application for KETAFREE™, facilitating a faster pathway to market for its preservative-free ketamine product.
- The announcement aligns with key policy objectives of the current administration, such as re-shoring important drug manufacturing and improving public health by removing toxic preservatives from drugs.
- The current market for ketamine is estimated at $750 million, highlighting a significant commercial opportunity for NRx's KETAFREE™ product.
- NRx Pharmaceuticals' recent participation in a high-level FDA “listening session” demonstrates the company's growing recognition and engagement within the biotechnology sector.
Potential Negatives
- Regulatory delays could hinder the timely entry of their new ketamine product into a competitive market.
- The reliance on a Suitability Petition rather than established pathways may indicate potential regulatory hurdles that could affect the company's product approval timeline.
- The acknowledgment of known and unknown risks in forward-looking statements may create apprehension among investors regarding the company's future performance and stability.
FAQ
What is the Suitability Petition granted to NRx Pharmaceuticals?
The Suitability Petition allows NRx to re-file its Abbreviated New Drug Application for a preservative-free ketamine product.
What is KETAFREE™?
KETAFREE™ is NRx's proposed single-patient, preservative-free ketamine product aimed at improving treatment options.
How does KETAFREE™ align with FDA policy objectives?
KETAFREE™ supports FDA goals of reducing toxic preservatives and re-shoring essential drug manufacturing to the U.S.
What market potential does NRx see for its ketamine product?
NRx estimates the current market for ketamine at $750 million, expecting KETAFREE™ to be a significant player.
What future regulatory actions is NRx pursuing?
NRx is pursuing an Abbreviated New Drug Application for KETAFREE™ and a New Drug Application for NRX-100.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NRXP Hedge Fund Activity
We have seen 15 institutional investors add shares of $NRXP stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ANSON FUNDS MANAGEMENT LP added 425,914 shares (+36.1%) to their portfolio in Q2 2025, for an estimated $1,388,479
- UBS GROUP AG added 121,503 shares (+115717.1%) to their portfolio in Q2 2025, for an estimated $396,099
- CITADEL ADVISORS LLC added 92,361 shares (+inf%) to their portfolio in Q2 2025, for an estimated $301,096
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 82,152 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $168,411
- VANGUARD GROUP INC added 63,250 shares (+16.3%) to their portfolio in Q2 2025, for an estimated $206,195
- MARSHALL WACE, LLP removed 55,702 shares (-62.5%) from their portfolio in Q2 2025, for an estimated $181,588
- SQUAREPOINT OPS LLC added 42,202 shares (+inf%) to their portfolio in Q2 2025, for an estimated $137,578
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$NRXP Analyst Ratings
Wall Street analysts have issued reports on $NRXP in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- HC Wainwright & Co. issued a "Buy" rating on 09/08/2025
- D. Boral Capital issued a "Buy" rating on 09/08/2025
- Ascendiant Capital issued a "Buy" rating on 04/29/2025
- BTIG issued a "Buy" rating on 04/02/2025
To track analyst ratings and price targets for $NRXP, check out Quiver Quantitative's $NRXP forecast page.
$NRXP Price Targets
Multiple analysts have issued price targets for $NRXP recently. We have seen 4 analysts offer price targets for $NRXP in the last 6 months, with a median target of $37.0.
Here are some recent targets:
- Jason Kolbert from D. Boral Capital set a target price of $34.0 on 09/08/2025
- Patrick R. Trucchio from HC Wainwright & Co. set a target price of $40.0 on 09/08/2025
- Edward Woo from Ascendiant Capital set a target price of $46.0 on 04/29/2025
- Thomas Schrader from BTIG set a target price of $18.0 on 04/02/2025
Full Release
- Suitability Petition is required for shift from multidose packaging of ketamine to single-patient dose preservative free ketamine
- Granting of Suitability Petition enables re-filing of Abbreviated New Drug Application (ANDA) for NRx’s patent-pending preservative-free ketamine product
WILMINGTON, Del., Sept. 24, 2025 (GLOBE NEWSWIRE) -- NRx Pharmaceuticals, Inc. (Nasdaq:NRXP), a clinical-stage biopharmaceutical company, announced that it was notified yesterday by the United States Food and Drug Administration that a Suitability Petition has been granted for the strength proposed by the Company for its planned single-patient, preservative-free ketamine product (KETAFREE™). Currently, ketamine is sold in multi-dose vials that contain Benzethonium Chloride, a toxic preservative. The Suitability Petition that has been granted enables immediate re-filing of the Company’s Abbreviated New Drug Application for KETAFREE™. The Company believes that this proposed product addresses two critical policy objectives as articulated by the current administration: (1) the re-shoring of strategically important drugs, particularly sterile products from foreign manufacturing sources, and (2) the “Make America Healthy Again” (MAHA) objective of removing toxic preservatives and colorants from foods and drugs. These objectives have been articulated on numerous occasions by FDA and HHS leadership.
The current market for ketamine is estimated at $750 million. The Company believes that its proposed KETAFREE™ product will be a successful offering in that market, wholly apart from the Company’s aim to supply a non-generic formulation of ketamine (NRX-100) as an innovative new drug to treat suicidal depression and PTSD under a New Drug Application.
“Last week, NRx was honored to be selected to attend a ‘listening session’ hosted by the FDA Commissioner, for biotechnology CEOs. We appreciate FDA’s rapid response on the requested Suitability Petition and look forward to bringing our preservative-free presentation of ketamine to the US market at the earliest possible moment,” said Jonathan C. Javitt, MD, MPH, Chairman and CEO of NRx Pharmaceuticals.
About NRx Pharmaceuticals, Inc.
NRx Pharmaceuticals, Inc. (www.nrxpharma.com), is a clinical-stage biopharmaceutical company developing therapeutics based on its NMDA platform for the treatment of central nervous system disorders, specifically suicidal depression, chronic pain, and PTSD. The Company is developing NRX-100 (preservative-free intravenous ketamine) and NRX-101, (oral D-cycloserine/lurasidone). NRX-100 has been awarded Fast Track Designation for the treatment of Suicidal ideation in Depression, including Bipolar Depression. NRX-101 has been awarded Breakthrough Therapy Designation for the treatment of suicidal bipolar depression. NRx has recently had a Suitability Petition granted, allowing re-filing of an Abbreviated New Drug Application (ANDA), and initiated a New Drug Application filing for NRX-100 with an application for the Commissioner’s National Priority Voucher Program for the treatment of suicidal depression.
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. The Company has reported regulatory milestones as they have been achieved but has not predicted the outcome of any future regulatory determination. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, including uncertainties and assumptions relating to the Company's operations, results of operations, growth strategy, and, among other things, liquidity. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's website at
http://www.sec.gov
. Except as may be required by applicable law, the Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.
For further information:
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Matthew Duffy
Chief Business Officer, NRx Pharmaceuticals [email protected] |
Brian Korb
Managing Partner (917) 653-5122 [email protected] |