NRX Pharmaceuticals Inc Q3 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jason Kolbert - D. Boral Capital LLC - Analyst : Thanks for the update. Jonathan, I'd like to zoom in a little bit on the accelerated approval, what you think is involved in that process? And if you get it, what does that mean in terms of a PDUFA data and the time line for both. And I know you're really talking about NRX-101, but kind of what is the PDUFA date do you think and the time line likely for NRX-100 as well?

Question: Jason Kolbert - D. Boral Capital LLC - Analyst : It does. That's a great answer. Can I ask you to talk a little bit in switching gears and thinking about Hope? And you talked a little bit about the difference between kind of ketamine clinics that focus on doing various infusions for people and a real psychiatric center. And so my question is, are you finding motivated folks that really want to build that all-in-one comprehensive psychiatric center? And do you think you're going to be able to acquire them in a way that you really will develop a national footprint? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 18, 2024 / 9:30PM, NRXP.OQ - Q3 2024 NRX Pharmaceuticals Inc Earnings Call

Question: Jason Kolbert - D. Boral Capital LLC - Analyst : Perfect. And I just want to try to throw a question at Mike today. Mike, Jason Kolbert. Great to hear you again. We've known each other for a while. Great company. You should be excited to be there. I'm sure you are. In the press release of the third quarter, there was language talking about revenues this year and profitability next year. So can you talk a little bit about kind of what -- when you did your due diligence to join the firm, how you're looking at kind of the revenue build over the next year?

Question: Jason Kolbert - D. Boral Capital LLC - Analyst : I know it's not a fair question, but I know you did due diligence.

Question: Jason Kolbert - D. Boral Capital LLC - Analyst : Yes, it does. And it sounds like you share the Jonathan's vision and what I see in the company, which is -- it's a fractured system with many different therapies, and nobody seems to be pulling it all together in one central place for patients, which is what has to be done to save lives. So I mean it's a noble cause. Thanks so much. Appreciate the update.

Question: Edward Woo - Ascendiant Capital Markets, LLC - Analyst : Yes. Congratulations on all the progress. In terms of the valuations for these precision psychiatry clinics, are there any issues in terms of finding enough of these clinics at a reasonable valuation? Or do the valuations really fluctuate wildly? And have you thought about possibly building as opposed to buying?

Question: Vernon Bernardino - H.C. Wainwright & Co., LLC - Analyst : Congrats on the progress and the exciting changes in structure of the company to come. Just had a question as far as revenue recognition perhaps. You're pretty confident, Jonathan, about recognizing some form of revenue this quarter. Just wondering, that's contingent on all the things that are pointing to signing on the dotted line, right? And in that recognition and signing, is that something where the revenue generated from that day plus 1 is the revenue we'll be recognizing? Or will you also, as part of the acquisition, be recognizing the, let's say, historical for the beginning of this quarter when you have the structure in place?

Question: Vernon Bernardino - H.C. Wainwright & Co., LLC - Analyst : Okay. As a follow-up to that, though, when you do perhaps give some kind of insight or maybe even some guidance, will you be providing some level of detail as far as how well are the level of business these entities actually realize?

Question: Vernon Bernardino - H.C. Wainwright & Co., LLC - Analyst : Okay. Congrats. Welcome aboard, Michael. Looking forward to working with you.