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Why NRx Pharmaceuticals Stock Is Tumbling Today

TheMotleyFool

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Why NRx Pharmaceuticals Stock Is Tumbling TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of NRx Pharmaceuticals (NASDAQ: NRXP) were trading 7.2% lower as of 11:25 a.m. EDT Friday. The decline came after the drugmaker submitted prospectus supplements on Thursday with the Securities and Exchange Commission.

These filings stated that NRx sent a letter to shareholders on Wednesday addressing a lawsuit recently initiated by Relief Therapeutics (OTC: RLFT.F) in New York State Court. Relief alleges that NRx "failed to honor its obligations" under a collaboration agreement between the two companies related to the development of Zyesami (aviptadil).

Image source: Getty Images.

Source Fool.com

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