NRX Pharmaceuticals, Inc.
NRXPNasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $1.2M | $0 | $0 | — | — | — |
| Operating income | −$16.2M | −$18.5M | −$27.8M | −$44.3M | −$115.8M | −$907,406 |
| Net income | −$28.6M | −$25.1M | −$30.1M | −$39.8M | −$93.1M | −$434,412 |
| Total assets | $13.0M | $3.7M | $7.3M | $25.8M | $32.7M | $6.1M |
| Total liabilities | $28.9M | $26.9M | $19.0M | $18.4M | $11.9M | $3.3M |
| Equity | −$15.9M | −$23.2M | −$11.7M | $7.4M | $20.8M | $2.8M |
| EPS (diluted) | $-1.34 | $-2.36 | $-0.40 | $-0.60 | $-1.98 | $-1.51 |
| Shares out. | 16.9M | 95.7M | 71.6M | 66.6M | 2.7M | 2.7M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −1324.4%
- Net margin
- −2336.5%
- Return on equity
- 179.6%
- Return on assets
- −220.9%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 223.0%
- Debt / equity
- —
- Book value / share
- $-0.94
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -96.18distress
- Accruals / assets
- −112.0%clean
- Piotroski F-Score
- 6/8mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 3 severe● 4 warning● 2 good- Negative shareholder equity
- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Reported a net loss
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Strong return on equity (>15%)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Aug 14, 2025
- NT 10-Qmissed a reporting deadline ↗May 14, 2021
- NT 10-Kmissed a reporting deadline ↗Apr 1, 2021
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Anson Funds Management LpPassive (13G)May 15, 2026
- B Group, Inc.Passive (13G)Aug 21, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Javitt Jonathan COfficer — Chairman and Chief Scientist | Dec 17, 2024 | Buy | 40,000 | $1.17 |
| Gorovitz AaronDirector | Aug 30, 2023 | Buy | 35,000 | $0.32 |
| Hurvitz ChaimDirector | Aug 30, 2023 | Buy | 70,000 | $0.29 |
| Javitt Jonathan COfficer — Chief Scientist | Aug 23, 2023 | Buy | 100,000 | $0.33 |
| Javitt Jonathan COfficer — Chief Scientist | Aug 22, 2023 | Buy | 200,000 | $0.32 |
| Willard Stephen HOfficer — CHIEF EXECUTIVE OFFICER | Dec 16, 2022 | Buy | 50,000 | $1.17 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 4.7M | 4.2 | +6.0% |
| Apr 30, 2026 | 4.4M | 3.2 | +35.6% |
| Apr 15, 2026 | 3.2M | 4.6 | +29.4% |
| Mar 31, 2026 | 2.5M | 2.4 | -8.7% |
| Mar 13, 2026 | 2.7M | 5.1 | +11.8% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Director / officer change · Shareholder voteMar 24, 2026
- Other material eventFeb 17, 2026
- Other material eventFeb 17, 2026
- Director / officer changeFeb 2, 2026
- Delisting / listing-standard notice · Regulation FD disclosure · Other material eventJan 16, 2026
- Regulation FD disclosureDec 29, 2025
- Changed auditorNov 26, 2025
- Regulation FD disclosure · Other material eventOct 23, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 25-NSEMay 22, 2026
- 10-QFORM 10-QMay 15, 2026
- SCHEDULE 13G/AMay 15, 2026
- 8-KFORM 8-KMar 24, 2026
- 10-KFORM 10-KMar 23, 2026
- DEFA14AFORM DEFA14AFeb 24, 2026
- ARSFeb 23, 2026
- DEF 14AFORM DEF 14AFeb 23, 2026
- 4FORM 4Feb 17, 2026
- 3FORM 3Feb 17, 2026
- 8-KFORM 8-KFeb 17, 2026
- 8-KFORM 8-KFeb 17, 2026
- 424B5FORM 424B5Feb 17, 2026
- PRE 14AFORM PRE 14AFeb 13, 2026
- 8-KFORM 8-KFeb 2, 2026
Event-driven situations (1)
Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.