NRx Pharmaceuticals, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-16.5M | $-1.4M | $361.0K | $-5.9M | $-17.6M | $-5.5M | $-9.1M | $-1.6M |
| Depreciation & Amortization | $66.0K | $63.0K | $43.0K | $26.0K | $0 | $1.0K | — | $2.0K |
| Depreciation | $100.0K | $20.0K | $-2.1M | $2.0M | $100.0K | $20.0K | $8.0K | $0 |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $139.0K | $151.0K | $81.0K | $68.0K | $67.0K | $12.0K | $43.0K | $104.0K |
| Net Cash from Operating Activities | $-8.9M | $-4.3M | $-3.7M | $-2.9M | $-4.0M | $-3.5M | $-2.1M | $-2.3M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | $0 | $0 | $0 | $0 |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-684.0K | $-213.0K | $-249.0K | $-2.6M | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $29.5M | $3.4M | $4.6M | $9.7M | $1.4M | $7.6M | $1.9M | $2.1M |
| Net Change in Cash | $20.0M | $-1.1M | $613.0K | $4.3M | $-2.6M | $4.1M | $-203.0K | $-252.0K |
| Free Cash Flow | — | — | — | — | $-4.0M | $-3.5M | $-2.1M | $-2.3M |