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NRx Pharmaceuticals (NASDAQ:NRXP) stock Makes a Big Rally: How Far Can it Go?

Madison Hall , , , ,

The action in the premarket period is often a good time for investors to get a feel of the market and this morning, it is the NRx Pharmaceuticals (NASDAQ:NRXP) stock that has made a strong move this morning.

The stock has soared by as much as 91% to $16.30 and it might be a good time for investors to take closer look at the news that has sent the NRx stock soaring. This morning the company presented evidence with regards to the capability of its product Zyesami in preventing ‘Cytokine Storm’ in patients who might be suffering from COVID 19.

It is a major announcement from the company and the reaction of investors is an indication of the significant of the development. The evidence was extracted from the Phase 2b/3 trial of the product and the effect of Zyesami in controlling Cytokine Storms actually proved to be statistically significant as opposed to placebo.

It should be noted that the previously specified endpoint of the study was a reduction in cytokine levels. It is now going to be interesting to see if the stock can continue on its strong upward move through the rest of the day. Investors could do well to keep an eye on the NRx price action today.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.