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NRx Pharmaceuticals Responds to NY Times Article Correction

NRx Pharmaceuticals stated: "Three days after the New York Times was notified of the false nature of its report, the paper corrected its article to state, 'In a petition filed last year, NRx urged the F.D.A. to ban the nation's supply of ketamine, claiming BZT is a danger to human health. Virtually all ketamine contains the preservative, and the company submitted a toxicology report asserting it could be harmful to patients.' The paper additionally published an editor's note stating: 'An earlier version of this story referred imprecisely to NRx's petition with the F.D.A. The company included a toxicology report intended to buttress its contention that BZT may be harmful to patients.' The Times has now corrected both of its blatantly false statements. The first statement, which the Times removed without admitting to a retraction, alleged that 'scores' of approved drugs contain Benzethonium Chloride. Indeed, to our knowledge, there are only two remaining drugs (of which one is ketamine) that still contain this toxic preservative. The expert toxicology report filed as part of NRx's Citizen Petition clearly demonstrates that the doses of ketamine routinely used in American Hospitals for anesthesia and pain control expose patients to doses of Benzethonium Chloride that have are widely known to be toxic." Dr. Jonathan Javitt, Chairman and Chief Executive Officer of NRx Pharmaceuticals, said: "The Times has yet to strike the false and misleading comments offered respectively by a psychologist and a doctor who owns ketamine clinics who claim that there is no evidence of human toxicity from BZT. One of those who commented is connected to a major pharmaceutical company that currently sells a ketamine nose spray for $1200 per dose according to the New York Times. NRx seeks to bring a safer, American-manufactured form of ketamine to the US market while demonstrating that old generic drugs can be manufactured in a sustainable manner within our borders. This benefits American patients, American workers, our local economies, and our national security. While we certainly aim to take substantial market share from overseas competitors, any claim that NRx plans to engage in a price-gouging strategy on generic ketamine is baseless. The price of generic ketamine is largely controlled through hospital buying groups. What we have done is reinvented the manufacturing process of an old drug to enable profitable manufacturing in the United States at current prevailing prices."

U.S. 10-Year Treasury Yield Falls to Near One-Month Lows

The yield on the U.S. 10-year Treasury note fell on Tuesday, hovering near one-month lows, following weaker housing data while investors also continued to assess persistent inflationary pressures ahead of the Fed's interest rate decision next week. Housing starts fell 5.2% in September, while pending home sales dropped to a record low, reflecting the continued strain of elevated mortgage rates on housing demand. The Fed is widely expected to leave interest rates unchanged next week, while markets anticipate a 25 basis point rate hike in December. Meanwhile, crude oil prices moved lower and stocks turned higher following an unconfirmed report from Qatari newspaper Al-Araby Al-Jadeed that Qatar and Pakistan presented a mediation proposal to address the demands of the U.S. and Iran.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:General Motorsreported better-than-expected Q3 sales and earnings and approved a new $20B share repurchase planGE Aerospace posted a "beat and raise" Q3 reportSalesforceagreed to acquire Brazefor $5.66B in enterprise value, or $47.50 per share in cashByteDance, Alibabaand Tencenthave ordered over 3M NvidiaRTX PRO 5500 graphics cards for over $35B, Reuters reportsIndustrial conglomerate 3Mlifted its annual profit forecast as cost-control initiatives and higher prices support margins2. WALL STREET CALLS:Loop Capital downgraded Appleto Hold on iPhone concernsAkamaiupgraded to Strong Buy at Raymond James following recent pullbackBarclays downgraded NuScale Powerto Underweight on commercial delaysBlackRockupgraded to Buy at TD CowenJefferies downgraded Elancoand Zoetisto Hold3. AROUND THE WEB:NRx Pharmaceuticalsis advancing Ketafree, a preservative-free ketamine formulation, and is seeking FDA approval while arguing that benzethonium chloride, a preservative used in most ketamine products, poses health risks, a claim it has not substantiated with evidence, NY Times saysTelesat'screditors have proposed a C$3.2B deal to help the company pay down a coming debt maturity and avert a default, WSJ reportsAustralia is set to sue Meta'sFacebook, TikTok, as well as other major digital platforms for not complying with the country's social media ban for children under 16, Bloomberg saysAlphabet'sWaymo, which currently operates about 4,000 cars, is looking to use the $5B it has recently borrowed to expand its fleet to 8,000 vehicles by the end of 2026 and grow that number to 20,000 by the end of 2027, Semafor reportsNetflixis overhauling its creative leadership in hopes of getting domestic audiences to watch more of its content, WSJ reports4. MOVERS:Myriad Genetics (MYRD) gains after announcing it will sell its Prenatal Health testing business to LabcorpHertzincreases after announcing Oro Mobility secured an $80M strategic equity investment from a consortium of investorsEquifaxhigher after reporting Q3 results, providing guidance for Q4, and narrowing its outlook for FY26Borr Drillinglower after Fearnley downgraded the stock to HoldBaxterfalls after the FDA issued a warning letter following an inspection of its facility5. EARNINGS/GUIDANCE:RTXreported Q3 results and raised its guidance for FY26Krogerbacked its guidance for FY26Ally Financialreported Q3 results, with EPS and revenue beating consensusValmontreported Q3 results and increased its outlook for FY26, with CEO Avner Applbaum commenting this was "another quarter of sales and earnings growth"Genuine Partsreported Q3 results and narrowed its guidance for FY26INDEXES:Near midday, the Dow was up 513.06, or 0.99%, to 52,479.09, the Nasdaq was up 76.22, or 0.29%, to 26,507.11, and the S&P 500 was up 35.46, or 0.46%, to 7,726.19.