- The Nasdaq Biotechnology Index (NBI) is a market index comprised of Nasdaq® listed Biotechnology and Pharmaceutical companies
- New classification is effective prior to the market open on Monday, December 20, 2021
RADNOR, Pa., Dec. 15, 2021 (GLOBE NEWSWIRE) — NRx Pharmaceuticals (Nasdaq: NRXP) today announced that Nasdaq (Nasdaq:NDAQ) has added the company to the Nasdaq Biotechnology Index (Nasdaq:NBI) effective December 20, 2021. The NBI is designed to measure the performance of a set of Nasdaq-listed biotechnology and pharmaceutical companies.
Addition to the NBI requires a company to meet specific eligibility criteria which include, but are not limited to the following:
- The security must be classified under the Biotechnology Subsector or Pharmaceuticals Subsector according to the Industry Classification Benchmark (ICB), a product of FTSE International Limited that is licensed for this use.
- Each security must have a minimum market capitalization of $200 million.
- The security must have traded for at least three full calendar months.
Because of this designation, shares of NRx will be included in the portfolios of NBI index funds. NRx expects this to increase institutional ownership in NRx shares, both through index fund purchases and potentially by fund managers selecting portfolio stocks.
“We are pleased to join the ranks of the NBI alongside other companies working to make our world healthier,” said Prof Jonathan Javitt, MD, MPH, Chairman and CEO of NRx Pharmaceuticals. “We look forward to meeting with Biotechnology Fund Managers and analysts in order to share our pipeline and progress.”
The NBI will formally add NRx Pharmaceuticals to its list of companies prior to market open on December 20, 2021.
About NRx Pharmaceuticals
NRx Pharmaceuticals (NRx) draws upon more than 300 years of collective, scientific, and drug-development experience to bring improved health to patients. In July 2021, the Government of Israel awarded NRx the exclusive worldwide right to develop and market the BriLife™ COVID vaccine developed by the Israel Institute for Biological Research. NRx continues to develop ZYESAMI® (aviptadil) for patients with COVID-19, which has been granted Fast Track designation by the US Food and Drug Administration (FDA) and is currently undergoing phase 3 trials funded by the US National Institutes of Health, the Biomedical Advanced Research and Development Authority (BARDA) of the US Department of Health and Human Services, and the Medical Countermeasures program, part of the US Department of Defense. The FDA has additionally granted Breakthrough Therapy Designation, a Special Protocol Agreement, and a Biomarker Letter of Support to NRx for NRX-101, an investigational medicine to treat suicidal bipolar depression. NRX-101 is currently in Phase 3 trials, with readouts expected in 2022.
NRx is led by executives who have held senior roles at Allergan, J&J, Lilly, Novartis, Pfizer, and the US FDA. NRx is chaired by Prof Jonathan Javitt, MD, MPH, who has held leadership roles in medical technology companies with public exits and been appointed to advisory roles in four US Presidential Administrations. The NRx board includes Dr. Sherry Glied, former US Assistant Secretary for Health (ASPE), Daniel E. Troy, JD, former Chief Counsel of the US FDA, Chaim Hurvitz, former director of Teva and President of the Teva International Group, and General H.R. McMaster, Ph.D. (US Army, Ret.) the 26th United States National Security Advisor.
Cautionary Note Regarding Forward-Looking Statements
This announcement of NRx Pharmaceuticals, Inc. includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995, which may include, but are not limited to, statements regarding our financial outlook, product development, business prospects, and market and industry trends and conditions, as well as the company’s strategies, plans, objectives, and goals. These forward-looking statements are based on current beliefs, expectations, estimates, forecasts, and projections of, as well as assumptions made by, and information currently available to, the company’s management.
The company assumes no obligation to revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Accordingly, you should not place reliance on any forward-looking statement, and all forward-looking statements are herein qualified by reference to the cautionary statements set forth above.
Head of Corporate Communications, NRx
SOURCE: NRx Pharmaceuticals