What's Next For NRx Pharma As FDA Denies Breakthrough Therapy Tag For COVID-19 Therapy

• The FDA has denied NRx Pharmaceuticals Inc's (NASDAQ:NRXP) Breakthrough Therapy designation (BTD) request for Zyesami (aviptadil).
• The request for BTD was submitted based on a post-hoc subgroup analysis of patients who, in addition to aviptadil or placebo, were also treated with Gilead Sciences Inc's (NASDAQ: GILD) remdesivir and whose respiratory failure due to critical COVID-19 continued to progress.
• Related: Why NRX Pharmaceuticals Shares Are Trading Lower During Premarket On Thursday?
• The company emphasized its focus on the company's NRX-101 BTD compound for Bipolar Depression associated with Suicidality.
• It expects topline data from the Phase 2 study of NRX-101 in patients with bipolar depression with sub-acute suicidal ideation (SSIB) by the end of the year. 
• "Given ZYESAMI's mechanism and its well-characterized safety profile, NRx Pharmaceuticals will further evaluate the options for its use in other high unmet pulmonary and non-pulmonary indications," said Robert Besthof, interim CEO of NRx Pharma. 
• Price Action: NRXP shares are down 0.85% at $0.57 during the premarket session on the last check Monday.