NRx Pharmaceuticals, Inc. (NRXP) 

Investigation

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of NRx Pharmaceuticals, Inc. (“NRx”  or  the “Company”) (NASDAQ: NRXP;NRXPW). Investors who purchased NRx shares are encouraged to obtain additional information and assist the investigation. 

 

The investigation concerns whether NRx has violated federal securities laws.

 

On August 12, 2022, NRx disclosed in  a filing with  the U.S. Securities  and Exchange  Commission  that  “[i]n  connection  with  the  preparation  of  our condensed, consolidated financial  statements for the  quarter ended June  30, 2022, the Company determined that  the accounting for the contingent  features of substitute warrants issued  pursuant to the May  24, 2021 Merger  Agreement (the ‘Merger’) between Big  Rock Partners Acquisition  Corp. (now renamed  NRx Pharmaceuticals) and  NeuroRx,  Inc.  and reported  in  our  previously  filed Quarterly Reports  on  Form 10-Q  for  the periods  ended  June 30,  2021  and September 30, 2021 (collectively the ‘Affected Periods’) was incorrect.”   NRx further stated that  it “has  determined that these  errors were  caused by  a material weakness” that  was “due  to ineffective risk  assessment related  to review procedures for complex transactions” which “led to a deficiency in  the design and implementation of appropriate  review controls for complex  warrant transactions.”  Accordingly, NRx advised  that “previously furnished or  filed reports,  related  earnings  releases,   investor  presentations  or   similar communications of the Company describing  the Company’s financial results  for the Affected Periods should no longer be relied upon” and that “[t]he  Company intends to promptly file restated  unaudited interim financial statements  for the Affected Periods[.]” Following this news, NRx’s stock price fell $0.0503 per share, or 6.29%, to close at $0.7494 per share on August 15, 2022, the next trading day.

 

If you are aware of any facts relating to this investigation or purchased NRx shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

 

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.  The firm has recovered hundreds of millions of dollars for investors nationwide.  Attorney advertising. Prior results do not guarantee similar outcomes.