NRX Pharmaceuticals reported a quarterly earnings miss on Thursday, with adjusted loss per share of $0.33, missing analyst estimates by $0.33. Revenue for the period also fell short of projections, declining 12% year-over-year to $12.4 million.
The company attributed the shortfall to elevated research and development expenses, which rose 28% to $8.7 million. NRX Pharmaceuticals said the increased spending was driven by progress in its clinical pipeline, including Phase 3 trials for its lead candidate.
Analysts had expected earnings of $0.00 per share and revenue of $14.1 million, according to consensus estimates compiled by Investing.com. The company’s stock, which had been trading higher ahead of the release, fell 4.2% in after-hours trading following the results.
NRX Pharmaceuticals has not provided updated guidance for the full year, citing ongoing regulatory and operational uncertainties. The biotech firm, which focuses on respiratory and inflammatory disease treatments, has emphasized its long-term pipeline potential despite the near-term financial pressures.
