Benzinga | Aug 26, 2021 09:50AM EDT

Why NRX Pharmaceuticals Stock Is Trading Higher Today

NRX Pharmaceuticals Inc (NASDAQ:NRXP) is trading higher Thursday after the company announced it signed an agreement with Cardinal Health to provide third party logistics and distribution of ZYESAMI upon the potential Emergency Use Authorization approval by the U.S. Food and Drug Administration.

In May, NRX Pharmaceuticals submitted an application for EUA to the FDA for ZYESAMI for patients suffering from critical COVID-19 with respiratory failure.

Cardinal Health will serve as the exclusive distributor for ZYESAMI upon FDA authorization. Cardinal Health services more than 90% of hospitals in the U.S.

"This partnership creates an efficient and highly flexible logistics and distribution model for NRx. Cardinal Health's expertise will enable ZYESAMI to quickly reach patients in the intensive care units, as limiting the time to treatment is crucial," said Robert Besthof, head of operations and chief commercial officer of NRX Pharmaceuticals.

NRX Pharmaceuticals is a clinical-stage, small molecule pharmaceutical company which develops novel therapeutics for the treatment of central nervous system disorders and life-threatening pulmonary diseases.

NRXP Price Action: NRX Pharmaceuticals has traded as high as $26.24 and as low as $8.39 over a 52-week period.

At last check Thursday, the stock was up 20.60% at $15.57.

Photo by Michal Jarmoluk from Pixabay.