NRx Pharmaceuticals Stock Rises 33% on Psychiatry Clinic Acquisition

Dow Jones01-03

By Katherine Hamilton

NRx Pharmaceuticals shares gained after the company said it would buy California psychiatry clinic Kadima Neuropsychiatry Institute.

The stock rose Thursday to $2.92, reaching a six-month high. Shares are down 36% over the past 12 months.

Kadima, based in La Jolla, Calif., is expected to become the flagship clinic for Hope Therapeutics, a mental-health-services subsidiary of NRx. Hope is planning to develop an international network of psychiatry clinics designed to treat depression, anxiety and post-traumatic stress disorder.

Once the acquisition is complete, David Feifel, Kadima's founder and chief executive, will serve as chief medical innovation officer of Hope.

Kadima was among the first psychiatry clinics to use ketamine therapy to treat central-nervous-system disorders. It also has a research division and contracts with the Department of Veterans Affairs.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 02, 2025 12:22 ET (17:22 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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