NRX Pharmaceuticals (NRXP) has released an update.
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NeuroRx, Inc., a subsidiary of NRx Pharmaceuticals, has amended its agreement with Alvogen to receive an advance of $5 million to help fund the development of NRX-101 for a pending phase 2 meeting with the FDA. In return, Alvogen obtains nearly 4.2 million warrants to buy the Company’s stock. Following the Type B Meeting, an additional $4 million is due, with the potential for the Company to earn up to $320 million in future milestones, along with escalating royalties on annual net sales. Alvogen will also cover future development and commercialization costs for the treatment. This strategic financial move was announced by the Company in a recent press release.
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