Several times recently, the Big Rock Partners Acquisition Corp. (NASDAQ: BRPA), the stock has increased in value for simple business news or no news at all. BRPA, shares jumped more than 50% to $6.25 in the late hours.
However, last week, a special purpose acquisition company announced that it has entered into a binding agreement to acquire NeuroRx, Inc. Under the terms of the deal, NeuroRx and Big Rock will merge, and the company will continue to trade on the Nasdaq Stock Market under the symbol “NRXP.”
The transaction is expected to take place in the first or second quarter of 2021. Being listed on Nasdaq, NeuroRx expects increased access to capital to help it continue to develop its innovative drug pipeline targeting Central Nervous System, Psychiatry, and Respiratory Disease.
NeuroRx is a clinical-stage, small molecule pharmaceutical company specializing in treating central nervous system disorders and life-threatening pulmonary diseases. The company’s two main drugs are “ZYESAMI,” which is intended to treat COVID-related respiratory failure, and “NRX-101,” meant for treating suicidal bipolar depression and PTSD.