Why NRX Pharmaceuticals Shares Are Trading Lower During Premarket On Thursday?

Based on the review of approximately 460 patients, Data Safety and Monitoring Board (DSMB) determined that the evaluation of NRx Pharmaceuticals Inc's NRXP Zyesami (aviptadil) should cease due to futility.
Aviptadil was the sole remaining investigational medicine in ACTIV-3b targeted at critical-ill COVID-19 patients.
ACTIV-3b study evaluated Zyesami and Gilead Sciences Inc's GILD Veklury (remdesivir) as monotherapy and in combination against placebo.
Also Read: NRx Pharmaceuticals Again Requests For FDA Breakthrough Therapy Status For COVID-19 Therapy.
The DSMB recommended stopping further randomization to Zyesami (aviptadil) due to aviptadil not meeting the futility guidelines outlined by the pre-approved analytical plan.
The primary endpoint and the 90-day mortality secondary endpoint were not supportive, with 37% mortality in the aviptadil group vs. 36% in the placebo group.
There were no safety concerns, and the known side effects of aviptadil (principally diarrhea and hypotension) were managed well with the protocols in place.
The trial is sponsored by the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health.
Price Action: NRXP shares are down 43.5% at $0.78 during the premarket session on the last check Thursday.