NRx Pharmaceuticals shares rose after the Food and Drug Administration completed its abbreviated new drug application review of the company's ketamine product.

The stock climbed 21% to $3.73 on Friday. Shares are up 42% this year.

The first-cycle review evaluated NRx's preservative-free ketamine and found no major deficiencies related to the product, ingredients or labeling, the drug company said Friday.

The FDA did flag a remaining question related to the container closure of the medication vial. The issue is packaging-related and doesn't relate to the ketamine drug product itself, NRx said.

The company is providing an attestation to the FDA related to the packaging issue.