NRx Pharma Raises Doubt To Continue As Going Concern
- NRx Pharmaceuticals Inc shares are down Friday as it evaluated whether there are any conditions or events that could raise substantial doubt about its ability to continue as a going concern within one year beyond the date of filing its annual report.
- The company has generated no revenues, has incurred operating losses since inception, and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable.
- The company depends on obtaining the necessary equity and/or debt financing to continue operations and cannot make any assurances that sales of its lead product, NRX-101, will commence in the near term, or that additional financing will be available to it.
- This could negatively impact the company's business and operations and could also reduce the company's operations.
- As of December 31, 2022, the cash balance was $20.1 million.
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