Virpax Pharmaceuticals Inc - VRPX STOCK NEWS

Virpax Pharmaceuticals announced positive results from a Swine Model pilot study for Probudur, their long-acting pain relief formulation. Probudur, designed for extended pain relief, was tested on four juvenile pigs at 30 mg/kg. The study confirmed a long-term, slow-release profile and showed that Probudur was well-tolerated with no adverse effects. Histopathology at the injection site also indicated good tolerance. CEO Gerald Bruce highlighted the consistent positive results and the aim to file an Investigational New Drug Application by year-end. Probudur aims to reduce opioid use post-surgery by providing prolonged pain relief.

Virpax Pharmaceuticals announced securing a $2.5 million loan from an institutional investor, which facilitated the final payment of its litigation settlement. This loan agreement includes negotiating additional funding to support the development of non-addictive pain management and CNS disorder products.

The company's Board of Directors has been reorganized, reducing its members from eight to seven. Four new members—Judy Su, Gary Herman, Jatinder Dhaliwal, and Katharyn Field—have been appointed, while five existing members have resigned.

CEO Gerald Bruce emphasized that this funding will provide the flexibility needed to advance their programs, with the goal of beginning first-in-human trials in 2025. The announcement follows high interest in Virpax's asset portfolio at the recent BIO meeting in San Diego.

Virpax Pharmaceuticals (NASDAQ: VRPX), a firm developing non-addictive treatments for pain, PTSD, CNS disorders, and viral barriers, will present at the 2024 BIO International Convention in San Diego. CEO Gerald W. Bruce will deliver a corporate presentation on June 3rd at 4:00 p.m. PT in Theater 3. The Virpax team will also host meetings from June 3rd through the 5th. Interested parties can schedule meetings via the BIO International meeting platform or by contacting betsy.brod@affinitygrowth.com.

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.

Virpax Pharmaceuticals, Inc. announced its financial results for the twelve months ended December 31, 2023, highlighting regained compliance with Nasdaq, settlement agreements, and progress in developing non-addictive pain management products. The company reported positive initial results from a pilot study of Probudur™ by the U.S. Army Institute of Surgical Research, with plans for further studies. Virpax also emphasized its focus on non-addictive product candidates, government grants, and partnerships to advance pain assets.

Virpax Pharmaceuticals, Inc. announced a 1-for-10 reverse stock split of its common stock, aiming to regain Nasdaq compliance and attract more investors. The split will reduce outstanding shares from 11.7 million to 1.2 million, with no change in ownership percentage. The company's CEO expressed optimism about future prospects despite challenges in the capital markets.

Virpax Pharmaceuticals, Inc. has entered into a term sheet to settle litigation with Sorrento Therapeutics, Inc. and Scilex Pharmaceuticals, Inc. The settlement includes cash payments totaling $6 million and royalties on net sales of certain products.