Benzinga | Oct 12, 2021 03:54PM EDT

Why NRX Pharmaceuticals Shares Are Rising

NRX Pharmaceuticals Inc (NASDAQ:NRXP) shares are trading higher by 54.1% at $10.45 after the company announced progress on the worldwide commercial-scale development of ZYESAMI.

The company announced that a revised Investigational New Drug module on the manufacturing of ZYESAMI was submitted to the FDA, containing documentation that confirmed Nephron Pharmaceuticals, Inc. is prepared to supply ZYESAMI on a commercial scale.

"As thousands of people around the world continue to die each day from COVID-19, we are continuing our efforts to ensure that NRX has the supply and logistics in place to provide ZYESAMI to patients where it is granted regulatory approval," said Prof Jonathan Javitt, MD, MPH, CEO and Chairman of NRx.

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.

NRX Pharmaceuticals has a 52-week high of $76.99 and a 52-week low of $6.43.