Biotech Soars On Large Investment Announcement Into Its Subsidiary

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, January 28, 2025

A Delaware-based biotech company turned heads on Tuesday after it was announced that it has invested $27 million in its subsidiary Hope Therapeutics to fund clinic acquisitions through a stock purchase agreement, according to a press release this morning.

Traders wasted no time at all snatching up shares of the parent company, NRX Pharmaceuticals Inc. (Nasdaq:NRXP) as the buying pressure pushed the micro cap up to $3.68/share (+29.12%) at the session high. This move was a continuation of a previous breakout this stock experienced within the last month.

NRX Pharmaceuticals Inc is a clinical-stage, small molecule pharmaceutical company which develops novel therapeutics for the treatment of central nervous system disorders and life-threatening pulmonary diseases. It has announced the commercialization of ZYESAMI (Aviptadil), an application for COVID-related respiratory failure. It is also developing NRX-100/101, the first sequential drug regimen for bipolar depression in patients with acute suicidal ideation and behaviour.

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