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NRX Pharmaceuticals, Inc. key statistics and ratios

In fiscal 2025, NRX Pharmaceuticals, Inc. had a net margin of -2336.5%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin——<−999%−691.8%
Return on assets−412.2%−458.3%−344.7%−99.7%
R&D as % of revenue——308.3%159.5%
SG&A as % of revenue——>999%469.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 3 checks passed · June 30, 2026
What it owns · $34m
Short-term assets $29mLonger-term assets $5m
What it owes, and who funded it · $34m
Short-term liabilities $34mLonger-term liabilities $0mShareholders' equity $-0m
  • Short-term assets cover short-term liabilities $29m of assets due within a year against $34m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $29m short-term assets against $456,000 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$20m against $1m of interest.

From NRX Pharmaceuticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: NRXP vs XBIONRXP vs UPBALGS vs NRXP

More: Biotechnology stocks compared, Health Care sector, rankings of US companies

Figures from NRX Pharmaceuticals, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to NRX Pharmaceuticals, Inc.