NRx Pharmaceuticals Responds to Kadima's False Claims

NRx Pharmaceuticals issued the following statement in response to recent public claims made by Kadima Neuropsychiatry Institute. "Kadima issued a public statement on June 24, 2026 making a series of unfounded allegations related to the non-acquisition of Kadima by HOPE Therapeutics, Inc., a majority-owned subsidiary of the Company. As disclosed in recent filings with the Securities and Exchange Commission, NRx has compelled arbitration with Kadima over Kadima's failure to meet key closing conditions contemplated in the related transaction documents including, but not necessarily limited to, the delivery of clear title to Kadima's assets and a material adverse change in the condition of the business. Kadima signed a binding arbitration agreement and entered into active arbitration in which the parties clearly intended to separate from one another. Management believes that specific performance, whereby HOPE would acquire Kadima and retain Dr. Feifel as HOPE's Chief Medical Innovation Officer, would not be in the best interests of either the patients or shareholders of the Company and HOPE. Moreover, despite Kadima's allegations, management does not believe that the acquisition or non-acquisition of any individual clinic would be material to HOPE's overall business model. Rather, the future success of the Company and HOPE depends on its ability to develop new drugs and medical technologies with national and international reach that deliver superior outcomes for patients affected by depression, PTSD and other serious medical conditions in need of care. Subsequent to the commencement of the arbitration by and between the Company and Kadima, the scientific direction of HOPE evolved to align more closely with current thought leaders in support of precise, personalized medicine with a particular emphasis on neuronavigated Transcranial Magnetic Stimulation used in conjunction with neuroplastic drugs, such as NRX-101. To that end, the Company continues to execute on new initiatives including a partnership with Zeta Surgical, which demonstrated the first fully functional robotic neuronavigated TMS system with submillimeter precision at the recent Clinical Transcranial Magnetic Stimulation Society meeting and subsequent treatment of the first patients at HOPE locations in Florida, as well as the recently announced FDA clearance of the Investigational New Drug application for the SPARC-TMS trial combining NRX-101 with robotic neuronavigated TMS to be conducted at civilian and military treatment facilities starting in the fall in support of recently published peer-reviewed studies that suggest the neuroplastic properties of D-cycloserine has the potential to significantly augment the effects of TMS. While NRx appreciates Dr. Feifel's desire to be part of the HOPE network as evidenced by yesterday's attempt to compel HOPE Therapeutics to incorporate his practice into the HOPE network, management does not believe that such litigation is likely to be a valid venue. Moreover, the Company does not believe that Dr. Feifel's professional experience and orientation remain aligned with HOPE's current scientific direction. We are confident that Dr. Feifel and his counsel will be directed back to arbitration by the San Diego courts and that this matter will be resolved equitably in a manner that is non-material to NRx and its shareholders. We wish Dr. Feifel the best of success in his future endeavors."