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🎉Exciting times for NRx Pharmaceuticals! They're making strides in the development of NRX-101, a breakthrough therapy for suicidal bipolar depression & chronic pain.👩‍🔬💊 They've recently announced plans to submit a New Drug Application for NRX-100, a ketamine-based treatment for suicidal depression.📝💡 They're also working on a proprietary formulation of IV Ketamine, HTX-100. This new formulation has a neutral pH, unlike the acidic pH of generic ketamine, making it a game-changer.🧪🔬 NRXP announced successful results of its clinical trial of NRX-101 vs. lurasidone in the treatment of suicidal bipolar depression. With positive data, NRXP is now eligible to receive an additional $4 million from partners Alvogen, Inc. and Lotus Pharmaceuticals, Inc.💰📈 They're also tackling chronic pain with D-cycloserine, the active ingredient in NRX-101. It reduces chronic pain to levels previously associated with oral opioid drugs but without the addiction and side effects.👏🙌 NRXP has also established HOPE Therapeutics to develop and launch IV Ketamine. They're planning to spin it out as a separate company, with term sheets received from prospective anchor investors for $60 million of new investment.💼🚀 NRXP delivered a 50% reduction in corporate overhead and 25% reduction in overall net loss in 2023, compared to 2024 with $0.20 per share improvement in negative earnings. They've added over $8 million in working capital.📊💪 They're planning to distribute shares of HOPE Therapeutics and royalty rights on Ketamine sales to existing NRx shareholders.🎁🎊 Stay tuned for more updates on NRXP's journey! 🌟🚀
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FTX has a new plan to compensate creditors affected by its 2022 collapse, promising "billions in compensation" for their investment's time value. The plan, awaiting U.S. Bankruptcy Court approval, promises a 118% recovery rate for most creditors. However, the repayment is based on asset values at bankruptcy time, not current market values, causing some dissatisfaction. FTX's proposal will process payments for 98% of creditors within 60 days post-approval, focusing on claims up to $50,000. While the plan aims to distribute between $14.5 billion and $16.3 billion, tying payments to November 2022 values rather than the current market upswing has sparked debate. The bankruptcy process and compensation scheme have faced scrutiny from experts and stakeholders. Legal professionals and analysts note that victims might not see this as a full recovery, given crypto values' significant appreciation post-November 2022. The U.S. Department of Justice's involvement ensures fairness and compliance. Despite the challenges, FTX's leadership is committed to rectifying the financial discrepancies and restoring trust. The firm has strategically pivoted away from restarting as a crypto exchange, focusing instead on stabilizing its financial footing and ensuring creditor satisfaction. As bankruptcy proceedings continue, the focus shifts to equitable compensation and strategic asset management. FTX's efforts to resolve its bankruptcy issues involve complex legal and financial maneuvers, navigating the fluctuating dynamics of the cryptocurrency market. The outcome will significantly influence the perception of bankruptcy resolution within the crypto industry. #FTX #CryptoNews 📈💰🔍
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