Plus   Neg

Stock Alert: Big Rock Partners Up 7% On Merger Deal With NeuroRx

Shares of Big Rock Partners Acquisition Corp. (BRPA) are currently gaining about 7% after the special purpose acquisition company announced merger with NeuroRx Inc.

BRPA is currently trading at $12.56, up $0.81 or 6.89%, on the Nasdaq.

Big Rock Partners Acquisition said it has entered into mearger deal with NeuroRx, a clinical stage, small molecule pharmaceutical company. NeuroRx develops novel therapeutics for the treatment of COVID-19 and Bipolar Depression.

As per the agreement, Big Rock and NeuroRx will merge and the company is expected to continue to trade on the Nasdaq under the symbol "NRXP." The transaction is expected to occur in the first or second quarter of 2021.

The combined company will have an estimated post-transaction equity value in excess of $500 million.

NeuroRx expects the deal to increase access to capital to continue development of its innovative drug pipeline targeting Central Nervous System/Psychiatry and Respiratory Disease.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration is hastening its efforts to make available more at-home testing options in response to the ongoing COVID-19 pandemic. All At-Home Covid-19 Tests being used now are authorized only for emergency use, and not cleared or fully approved by the FDA. The recent granting of EUA for the Quidel Corp.'s QuickVue At-Home COVID-19 Test is one example. Dollar Tree Inc. (DLTR) Wednesday reported a profit for the fourth-quarter that climbed 309 percent from last year, while Wendy's Co. (WEN) posted a profit that grew about 46.0 percent from the prior year. Dollar Tree has increased its share repurchase authorization by $2.0 billion. Wendy's expects profit for fiscal year 2021 to be below analysts' expectations. Medical devices company Boston Scientific Corp. (BSX) agreed Wednesday to acquire the global surgical business of Israel-based Lumenis LTD from an affiliate of Baring Private Equity Asia (BPEA) for an upfront cash payment of $1.07 billion, subject to closing adjustments. Lumenis is a privately-held...
Follow RTT