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Wire

NRX Pharmaceuticals to Submit Attestation to FDA on Packaging Deficiency for Ketamine Product

NRX Pharmaceuticals (NRXP) said Friday it plans to provide manufacturing attestation requested by the US Food and Drug Administration related to packaging for approval of its preservative-free ketamine's Abbreviated New Drug Application.The agency has completed first-cycle review and found no major deficiencies related to the drug product, ingredients, proposed labeling, Chemistry, Manufacturing and Controls, or other drug-related review matters, NRX said.Meanwhile, the agency found a major deficiency related to packaging in the first-cycle review of the drug, NRX said. The deficiency is related to evidence that the luer lock tip of the medication vial would perform properly when connected to a syringe by a licensed health professional, the company said.NRX said it plans to provide manufacturing attestation requested by the agency that the product is manufactured on the same manufacturing lines with the same methods as three currently approved products.Price: $3.59, Change: $+0.50, Percent Change: +16.18%

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Sectors

Sector Update: Healthcare Stocks Advance Late Afternoon

Healthcare stocks were higher late Wednesday afternoon, with the NYSE Healthcare Index adding 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.9%.The iShares Biotechnology ETF (IBB) climbed 2.4%.In corporate news, Eli Lilly (LLY) and Bayer's pharmaceutical division have backed the Trump administration's call for higher drug prices in Europe, the Financial Times reported. Separately, Lilly said Wednesday it has completed its acquisition of Centessa Pharmaceuticals. Lilly shares were up 0.6%.NRx Pharmaceuticals (NRXP) and two units are facing a lawsuit from Kadima Neuropsychiatry Institute for alleged breach of contract and misrepresentation regarding an acquisition agreement, the psychiatric clinic said Wednesday. NRx Pharmaceuticals shares fell 12%.Pfizer (PFE) has been dismissed as a defendant in a lawsuit brought by 45 US states, the District of Columbia, and 4 US territories that accused drugmakers and executives of fixing generic drug prices, Reuters reported. Its shares were down 2.4%.InMode (INMD) board received an unsolicited acquisition proposal last week for all shares not already owned by M.N. Business Strategy for $16.20 per share in cash, the medical technology firm said Wednesday. The shares jumped 10%.

$INMD$LLY$NRXP$PFE
Sectors

Sector Update: Healthcare

Healthcare stocks were higher late Wednesday afternoon, with the NYSE Healthcare Index adding 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.9%.The iShares Biotechnology ETF (IBB) climbed 2.4%.In corporate news, NRX Pharmaceuticals (NRXP) and two units are facing a lawsuit from Kadima Neuropsychiatry Institute for alleged breach of contract and misrepresentation regarding an acquisition agreement, the psychiatric clinic said Wednesday. NRX Pharmaceuticals shares fell 14%.

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Wire

Kadima Neuropsychiatry Institute Sues NRX Pharmaceuticals Over Breach of Acquisition Contract

NRX Pharmaceuticals (NRXP) and two units are facing a lawsuit from Kadima Neuropsychiatry Institute for alleged breach of contract and misrepresentation regarding an acquisition agreement, the psychiatric clinic said Wednesday.The plaintiffs filed the complaint in San Diego County Superior Court to legally compel the pharmaceutical company to close the transaction under the agreed terms, per the statement.The complaint alleges that NRX's representations on the financing availability for the Kadima closing were materially inconsistent, according to the statement.NRX did not immediately respond to a request for comment from.Price: $3.22, Change: $-0.55, Percent Change: -14.49%

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Wire

NRX Pharmaceuticals' Hope Therapeutics, Zeta Surgical Treat First Patient With Zeta TMS Navigation System

NRX Pharmaceuticals' (NRXP) Hope Therapeutics unit and Zeta Surgical said Tuesday that the first patient was treated with the US Food and Drug Administration-cleared Zeta TMS Navigation System at a Hope clinic in Sarasota.Transcranial magnetic stimulation, or TMS, is a non-invasive treatment mainly used for treatment-resistant depression, and is also used in other neuropsychiatric conditions such as obsessive-compulsive disorder, according to a statement.The system is now being integrated into outpatient treatment workflows at Hope clinics for eligible patients, including those with major depressive disorder, per the statement.Price: $3.81, Change: $-0.09, Percent Change: -2.31%

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