HOPE Therapeutics To Buy Kadima Neuropsychiatry Institute For Undisclosed Sum

(RTTNews) - HOPE Therapeutics, Inc., a subsidiary of NRx Pharmaceuticals, Inc. (NRXP), Tuesday announced an agreement to purchase the Kadima Neuropsychiatry Institute, a California-based interventional psychiatry clinic. The financial details of the transaction have not been disclosed.

Following the acquisition, Kadima Neuropsychiatry is expected to serve as clinical model for Hope treatment offerings nationwide, including psychedelic medications, transcranial magnetic stimulation, and hyperbaric therapy.

Upon closing of the acquisition, David Feifel, Founder and Medical Director of Kadima, will join HOPE as its first Chief Medical Innovation Officer.

The deal is estimated to be accretive to revenue and EBITDA for NRx and HOPE.

In the pre-market hours, NRx's stock is trading at $2.02, down 2.88 percent on the Nasdaq.