Is NRX Pharmaceuticals going out of business?

NRX Pharmaceuticals, Inc. (NRXP) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

NRX Pharmaceuticals, Inc. (NRXP) scores 13 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Shares dilution YoY: 103.38% (YoY)

Five questions, kept separate

Survival - Critical

7-11 mo of estimated runway from 2026-06-30, based on $26.7M of cash and short-term investments against $36.3M of annual burn. Adjusted shares outstanding increased 103.4% over the comparison year.

Business quality - Pre-commercial

Operating margins cannot grade a pipeline; Survival and clinical evidence remain the relevant lenses here.

Trajectory - Clinical progress unavailable

Fundamentals can show funding and burn, but not whether the clinical pipeline is advancing.

Valuation - Balanced

13.1% net-cash backing support a balanced pre-commercial Valuation assessment.

Event risk - Evidence unavailable

No active asserted adverse event was found in the available filing evidence. The filing evidence is stale or incomplete, so this is not proof of absence.

What the rules read

• Shares dilution YoY: 103.38% (YoY)
• FCF margin: -1277.66%
• Return on Assets: -68.73%
• Cash Burn Deceleration: -217.70% QoQ improvement (Worsening)
• Price / Sales: 42.9x (see Valuation)
• Price / Earnings: Unprofitable (see Valuation)
• Operating leverage: -1256.7%

Read from filings through 2026-08-14.

Price as of 2026-09-07.