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The Company’s complaint seeks damages of at least $185 million.
−Removed: The parties to the lawsuits agreed to engage in mediation in an effort to amicably resolve the litigation.
−Removed: If the mediation does not resolve the dispute, the Company intends to defend itself vigorously and to prosecute its claims against Relief Therapeutics.
−Removed: There can be no assurance, however, that we will be able to successfully resolve the dispute through mediation or that, in the event the dispute continues in litigation, we will be successful in our claims or in our opposition to Relief Therapeutics’ claims.
−Removed: On January 18, 2022, a federal securities class action complaint was filed against the Company, its Chief Executive Officer at the time, Jonathan Javitt, and its former Chief Financial Officer, William Fricker, by purported stockholder Cristian Dal Bosco (the “Dal Bosco Complaint”).
−Removed: The Dal Bosco Complaint alleges that the Company made false or misleading statements or otherwise failed to disclose that the Company’s EUA application contained insufficient data regarding the potential benefits and risks of ZYESAMI and, accordingly, the FDA was unlikely to approve it.
−Removed: The Company believes the Dal Bosco Complaint is baseless and without merit and intends to defend itself vigorously.
−Removed: There can be no assurance, however, that the Company will be successful.
−Removed: The Dal Bosco Complaint has led to the filing, and threatened filing, of almost verbatim class action complaints.
+Added: Efforts to resolve the litigation through mediation have not been successful, but the parties continue to seek a mutually acceptable resolution to the claims.
+Added: If such a resolution cannot be found, the Company intends to defend itself vigorously and to prosecute its claims against Relief Therapeutics.
+Added: There can be no assurance, however, that we will be successful in our claims or in our opposition to Relief Therapeutics’ claims.
+Added: On June 13, 2022, the plaintiffs in the securities class action lawsuit captioned “Dal Bosco v.
+Added: NRx Pharmaceuticals, Inc.
+Added: et al.” filed a notice in the U.S.
+Added: District Court for the District of Delaware voluntarily dismissing the action against NRx Pharmaceuticals and its former officers.
+Added: On August 12, 2022, the Company received a demand for arbitration (the “Demand”) from GEM Yield Bahamas Limited and GEM Global Yield LLC SCS (collectively, “GEM”).
+Added: The Demand claims that the Company’s subsidiary, NeuroRx, Inc.
+Added: (“NeuroRx"), failed to satisfy its obligation to pay GEM a commitment fee in the amount of HK$ 15,000,000 (approximately US$1,914,087 at current exchange rates) pursuant to a Share Subscription Facility Agreement, executed on October 18, 2019, by and among NeuroRx and GEM (the “Agreement”).
+Added: NeuroRx expects to
+Added: vigorously defend its position that payment of the commitment fee is neither due nor owing under the terms of the Agreement.
In addition to the matters described above, we may become involved in various legal actions incidental to our business.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.