NRx Pharmaceuticals, Inc. (NASDAQ: NRXP) is engaged as a clinical-stage, small molecule pharmaceutical company, which primarily focuses on developing therapies for central nervous system disorders and pulmonary diseases. Shares of the pharmaceutical company skyrocketed 61% during trading on Tuesday, October 12, 2021. Over the past three months, NRx Pharmaceuticals has seen average daily volume of 5.06 million shares. However, volume of 18.77 million shares or dollar volume of $204.97 million, exchanged hands during Tuesday’s trading.
Shares of NRx Pharmaceuticals soared on Tuesday, after the company provided an update on the commercial scale development of ZYESAMI, a synthetic form of Vasoactive Intestinal Polypeptide (VIP) that can help fight respiratory effects of the COVID-19 virus.
“VIP binds specifically to the alveolar type II cell (ATII) in the air sac (alveolus) of the lung, where it has been shown to have potent anti-inflammatory/anti-cytokine activity in animal models of respiratory distress, acute lung injury, and inflammation.”
NRx Pharmaceuticals submitted a revised Investigational New Drug module for the manufacturing of ZYESAMI to the U.S. Food and Drug Administration (FDA). The documentation shows that Nephron Pharmaceuticals, Inc. will be supplying ZYESAMI on a commercial scale.
The Company was also notified that a European Qualified Person (QP) Auditor has completed an inspection at a Europe-based manufacturing facility with no bad marks. NRx Pharmaceuticals now waits a QP Declaration to be awarded for the release of ZYESAMI. The audit comes as the Company prepares to submit documentation for approval to EU and UK health regulators.
“As thousands of people around the world continue to die each day from COVID-19, we are continuing our efforts to ensure that NRx has the supply and logistics in place to provide ZYESAMI to patients where it is granted regulatory approval,” said Prof Jonathan Javitt, MD, MPH, CEO and Chairman of NRx.
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