NRX Pharmaceuticals (NRXP) has released an update.
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NRX Pharmaceuticals, Inc. has renegotiated the repayment terms of its Convertible Promissory Note with Streeterville Capital, agreeing to a series of cash payments beginning with $1.1 million immediately and continuing with monthly installments of $400,000. These payments can be made in cash or, under certain conditions, in common stock. This strategic amendment aims to preserve the company’s cash for drug development while extending the note’s maturity to align with anticipated clinical trial outcomes, thus potentially enhancing the company’s financial flexibility.
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