NRx Pharmaceuticals (NRXP) Stock Fell 19% After Hours On Tuesday: Here's Why

NRx Pharmaceuticals announced a proposed underwritten public offering of common stock, causing shares to plummet 19.05% to $3.74 in after-hours trading on Tuesday. The clinical-stage biopharmaceutical company, which develops treatments for CNS disorders including suicidal depression and PTSD, plans to use the net proceeds for working capital and general corporate purposes. BTIG LLC is acting as lead bookrunner for the offering.