NRX Pharmaceuticals Acquires Stake in Florida-Based Clinic, Aims to Enhance Clinical Care Capabilities

NRx Pharmaceuticals plans to acquire a 49% stake in Florida-based Cohen and Associates, expanding its clinical care capabilities. The acquisition aims to establish Cohen as a pivotal clinic for HOPE Therapeutics in western Florida. Based on analysts' one-year price targets, the average target price for NRX Pharmaceuticals Inc is $28.50, implying an upside of 771.56% from the current price of $3.27. The company has initiated the filing of a new drug application for NRX-100, a preservative-free intravenous ketamine for suicidal depression.

NRx Pharmaceuticals, Inc. (NASDAQ: NRXP) has announced plans to acquire a 49% stake in Cohen and Associates, a premier interventional psychiatry clinic based in western Florida. The acquisition aims to establish Cohen as a pivotal clinic for HOPE Therapeutics, the healthcare delivery subsidiary of NRx Pharmaceuticals. The deal is expected to be immediately accretive to revenue and EBITDA, a positive indicator for investors [1].

Cohen and Associates, founded by Dr. Rebecca Cohen, specializes in treating suicidal depression, PTSD, and other CNS disorders through various treatments, including ketamine, Spravato, and Transcranial Magnetic Stimulation (TMS). The clinic, established in 2014, brings diverse treatment capabilities to NRx's portfolio. This acquisition aligns with the growing trend of pharmaceutical companies establishing direct patient care channels [2].

The acquisition is part of NRx's strategic expansion of its healthcare delivery footprint. By integrating Cohen into HOPE Therapeutics, NRx aims to create a hub-and-spoke model, with Cohen serving as a foundational clinic in the Sarasota-Bradenton area. This expansion could provide NRx with multiple benefits, including direct revenue from clinical services, real-world data collection opportunities for its pharmaceutical development pipeline, and established distribution channels for future approved therapies in the mental health space [2].

The Florida location is noteworthy given the state's large retirement population and corresponding mental health needs. By expanding its presence in Florida, NRx can tap into this growing market and potentially enhance its overall revenue and EBITDA performance.

The acquisition is subject to the execution of definitive transaction documents and standard closing requirements. Further details regarding the terms of the transaction will be disclosed at that time.

Analysts have set an average one-year price target of $28.50 for NRX Pharmaceuticals Inc., implying an upside of 771.56% from the current price of $3.27. This potential increase in stock price reflects investors' optimism about the acquisition and its expected positive impact on NRx's financial performance.

NRx Pharmaceuticals has also initiated the filing of a new drug application for NRX-100, a preservative-free intravenous ketamine for suicidal depression. This development further underscores the company's commitment to advancing treatments for central nervous system disorders.

References:
[1] https://www.prnewswire.com/news-releases/hope-therapeutics-inc-and-nrx-pharmaceuticals-inc-nasdaqnrxp-announce-agreement-to-acquire-interest-in-cohen-and-associates-llc-for-hopes-network-of-interventional-psychiatry-clinics-302492190.html
[2] https://www.stocktitan.net/news/NRXP/hope-therapeutics-inc-and-n-rx-pharmaceuticals-inc-nasdaq-nrxp-oja3aatiatb8.html