Big Rock Partners Acquisition Corporation (BRPA) share price gained 20.94% yesterday and is extending gains today. What’s going on with BRPA right now?
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This rise in stock has a direct link with the merger between BRPA and NeuroRX which is a recent development that took place in December 2020.
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Big Rock Partners Acquisition Corporation is an acquisition company that aims towards the acquisition of senior housing operators with the capitalization of the market. BRPA is a $69million company with the main focus on independent living, assisted living, and memory care operators whereas with not restricting their work they are also open to all opportunities with senior housing.
NeuroRX is a pharmaceutical company that has announced that their new medical drug ZYESAMI has shown tremendous and fast results in the recovery from respiratory failure in critically ill patients diagnosed with Covid-19, such patients are being treated with high flow nasal oxygen at a 28-day interim Endpoint. NeuroRX claims that their new drug reduces the hospital time for patients and catalyzes the rate of recovery.
Efficiency of ZYESAMI
The medicine has been tested in 10 different hospitals of USA and has shown promising results which eventually results in favor of not just NeuroRX but also BRPA because of the agreement signed between them. Also because covid-19 is a life-taking disease and has effected people on a global level. For the past, one-year pharmaceutical companies have been trying their best to come up with vaccines or medicines for the safe treatment of Covid-19. ZYESAMI is claimed as to be the effective treatment of this disease.
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Conclusion
Therefore both the companies are interested in working together in future as well due to the mutual benefit they are gaining.