July 31, 2025

Dear Friends of NRx,

Some shareholders have asked for NRX-100 stability data to be reported on an interim basis. As noted in our most recent 10K, management considers long-term stability and sterility of NRX-100, preservative free IV ketamine, to be assured based on data already filed with FDA. 

Accordingly, shareholders should expect ongoing stability data to be included in quarterly filings but expect further interim filings regarding stability only if a material deviation is identified from current data. 

As a reminder, the Chemistry, Manufacturing, and Controls (CMC, Module 3) section of our NRX-100 ANDA/NDA has already been filed with the FDA, as a part of both applications.

Again, thank you for your support and we look forward to continuing to share significant developments on NRX-100 and our other programs as they occur, as we bring HOPE to life.

Sincerely,

Jonathan C. Javitt, MD, MPH

Chairman and CEO

Notice Regarding Forward-Looking Statements

The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company’s operations, results of operations, growth strategy, liquidity. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. Except as may be required by applicable law, The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.

For further information:

Matthew Duffy
Co-CEO, Hope Therapeutics, Inc.
Chief Business Officer, NRx Pharmaceuticals, Inc.
mduffy@nrxpharma.com

Brian Korb
Managing Partner, astr partners
(917) 653-5122
brian.korb@astrpartners.com

July 31, 2025

Dear Shareholders,

Yesterday our Chairman and CEO Dr. Jonathan Javitt joined a Fireside Chat at the BTIG Virtual Biotechnology Conference with BTIG Research Analyst Dr. Thomas Shrader and Prof.  Samuel Wilkinson, MD, of the Yale School of Medicine, a widely published psychiatrist who has been a pioneer in the understanding of ketamine and other neuroplastic and psychedelic drugs for the treatment of depression, suicidality, and PTSD.

The discussion focused on neuroplasticity in the treatment of CNS disorders, including the role of ketamine and NRX-100 as well as future directions in mental health research and treatment. No non-public information was disclosed.

Those wishing to view a replay may request access by emailing mduffy@nrxpharma.com.

Thank you for your support and we look forward to continuing to share significant developments as they occur, as we bring HOPE to life.

Sincerely,

Matthew Duffy
Chief Business Officer

Notice Regarding Forward-Looking Statements

The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company’s operations, results of operations, growth strategy, liquidity. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. Except as may be required by applicable law, The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.

For further information:

Matthew Duffy
Co-CEO, Hope Therapeutics, Inc.
Chief Business Officer, NRx Pharmaceuticals, Inc.
mduffy@nrxpharma.com

Brian Korb
Managing Partner, astr partners
(917) 653-5122
brian.korb@astrpartners.com