Why NRX Pharmaceuticals (NRXP) Stock Is Moving Friday?

Extending yesterday's gain, NRx Pharmaceuticals Inc NRXP stock is up more than 26% during the premarket trading on Friday.

NRx's stock opened Thursday up nearly 14% at $11.51 per share after closing Wednesday at $10.11 per share. The stock closed up 62.7% at $16.45 Thursday. Since Monday, the stock has gained almost 95%.

What happened during the week: Yesterday (Thursday), NRx announced it validated the first commercial formulation, with one year or greater stability, of its experimental COVID-19 treatment. NRx also said that it has "achieved a 30-to-50 fold increase" in the manufactured lot size of the drug.

It is developing Relief Therapeutics Holding AG's RLFTF Zyesami (RLF-100, aviptadil) as an intravenous treatment for respiratory failure in critically ill COVID-19 patients.

Earlier formulations of Zyesami were only stable for a few weeks.

Monday, the Company reported that Zyesami prevented the sharp rise in cytokines and was additionally associated with a significant decrease in 60-day mortality.

The next goal for NRx will be to win an emergency use authorization for Zyesami. The Company applied to the FDA for a EUA in June.

Price Action: NRXP shares are up 26% at $20.72 during the premarket session on the last check Friday.

Related content: Benzinga's Full FDA Calendar.