Welcome to our dedicated page for Virpax Pharmaceuticals news (Ticker: $VRPX), a resource for investors and traders seeking the latest updates and insights on Virpax Pharmaceuticals stock.
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Virpax Pharmaceuticals announced the pricing of a public offering totaling $2.25 million. This offering includes 1,666,667 shares of common stock and Series A-1 and A-2 warrants. The shares and warrants are priced at $1.35 each, with Series A-1 warrants expiring in five years and Series A-2 in eighteen months. The offering is expected to close around May 17, 2024, subject to customary conditions. The securities are being offered under a registration statement filed with the SEC.
Virpax Pharmaceuticals (NASDAQ: VRPX) announced its Q1 2024 results and recent developments. The company reported an increase in general and administrative expenses to $1.7M and R&D expenses to $1.6M, leading to an operating loss of $3.2M. Cash reserves stood at $1.9M as of March 31, 2024. Key highlights include the positive results of the Probudur™ Maximum Tolerated Dose Study, ongoing development of Envelta™ and NobrXiol™, and a settlement agreement with Sorrento Therapeutics and Scilex Pharmaceuticals. The company is also seeking additional grants and licensing opportunities. CEO Gerald W. Bruce expressed optimism about the future despite the financial challenges.
Virpax Pharmaceuticals, Inc. announced the results of a Maximum Tolerated Dose (MTD) study for Probudur™, a long-acting liposomal bupivacaine formulation aimed at reducing the need for opioids after surgery. The study showed that Probudur provided both immediate and sustained pain relief at the wound site, with minimal toxicity and better therapeutic results compared to free bupivacaine. The formulation demonstrated the potential to offer rapid onset and prolonged action, marking significant progress towards completing preclinical studies and filing for an Investigational New Drug Application (IND) by the end of the year.
