NeuroRx a company who is partnered with promising COVID-19 therapeutic maker Relief Therapeutics (OTC: RLFTF) has decided to merge and list with a NYSE company (3-6 months).
According to the interview with Dr. Javitt the term sheet has already been signed, big banks are already doing their due diligence and vetting and expressed interest in bookrunning.
The NeuroRx leadership team has a strong track record in CNS development the team also has former connections to big pharmaceutical companies and the FDA which could provide them with faster progress.
First to patent dual mechanism drug
During the interview with Dr. Javitt, he said that this is the first dual mechanism drug to be patented for blocking NMDA and 5-HT in which all prior NMDA-targeted drugs, especially ketamine, cause hallucination and all prior serotonin-targeted drugs cause akathisia and suicidal ideation.
The NRX-101 discovery demonstrates that combining MDA and Serotonin components yields a potent antidepressant that reduces side effects of both components.
STABIL-B Phase 2 Data
Patients who would otherwise have been in the hospital for two weeks and got ECT, went home in remission and stayed there.
- There are now 5 human studies showing a positive effect of DCS on depression and/or suicidal ideation.
- Primary endpoint is mean MADRS score over 42 days of observation analyzed by standard mixed model, the standard for FDA studies.
- 40% relapse in control group, no relapse in NRX-101 group.
- If Phase 2 results are replicated in phase 3, this will meet the criterion for FDA approval.
Timeline, approval, market and near term milestones
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