Virpax Pharmaceuticals Inc - VRPX STOCK NEWS

Virpax Pharmaceuticals (NASDAQ: VRPX) has engaged Dr. Pardeep Gupta, an expert in liposomal drug delivery, to aid in the development of its patented long-acting injectable Probudur, designed for postoperative pain management. Dr. Gupta's role will focus on advising on chemistry, manufacturing, and controls, essential for the commercialization process. Probudur aims to provide pain relief for up to 96 hours, reducing dependency on opioids. This strategic hiring aligns with Virpax's goal of advancing its Investigational New Drug (IND) package for Probudur, with CEO Anthony P. Mack expressing optimism about Dr. Gupta’s contributions. Virpax is primarily focused on developing non-addictive pain management solutions using proprietary drug delivery technologies.

Virpax Pharmaceuticals (NASDAQ: VRPX) announced significant progress in its Envelta development program, a non-opioid pain product candidate. Recently completed dose ranging studies in rats and dogs showed Envelta was well-tolerated with no adverse effects. The data will support the IND application to the FDA and establish safe dosing for first-in-human trials, expected to file by Q2 2024. The program is funded by an in-kind grant from the National Center for Advancing Translational Sciences (NCATS) under the NIH.

Virpax Pharmaceuticals, Inc. (NASDAQ: VRPX) has announced the appointment of Barbara A. Ruskin, Ph.D, J.D., to its Board of Directors, expanding the board to nine members. Dr. Ruskin, who has over 25 years of experience in life sciences and intellectual property law, previously served as Chief Intellectual Property and Innovation Officer at Silence Therapeutics (OTC: SLNCF). Her background includes advising pharmaceutical companies and managing patent portfolios for major biotech firms. The company is focused on developing non-addictive pain management products and is seeking FDA approval for its candidates.

Virpax Pharmaceuticals, Inc. (NASDAQ: VRPX) announced its 2022 financial results, revealing a significant increase in operating expenses due to legal costs and R&D investments. General and administrative expenses surged by 54% to $11.1 million, while R&D expenses rose by 122% to $10.8 million. The company is advancing its drug candidates, including Probudur, targeting postoperative pain with new formulations. Additionally, collaborations with leading physicians and upcoming IND submissions for Envelta and NobrXiol are underway. As of December 31, 2022, Virpax had approximately $19 million in cash and is pursuing non-dilutive funding strategies.

Virpax Pharmaceuticals (NASDAQ: VRPX) has completed FDA-required preclinical toxicology studies for its Molecular Envelope Technology (MET), which enhances drug delivery for its pain management and epilepsy product candidates. This study aims to evaluate the safety of MET in preparation for IND submissions. Developed by Nanomerics Ltd., this technology is crucial for multiple drug candidates including AnQlar™ and Envelta™. Dr. Jeffrey Murray, a former FDA expert, is advising the company on clinical trial design, emphasizing MET's potential to improve drug administration while reducing interactions and dosage needs.

Virpax Pharmaceuticals (NASDAQ: VRPX) has engaged New England Investors, LLC as its out-licensing advisor for Envelta in China, aimed at managing acute and chronic pain. Envelta, a patent-pending intranasal product, utilizes Molecular Envelope Technology to cross the blood-brain barrier, reducing side effects associated with traditional pain medications. Funded by an NCATS grant, Envelta is an innovative non-opioid alternative targeting various pain conditions. The company believes this partnership will significantly enhance its licensing efforts in China, leveraging New England Investors' expertise in cross-border transactions.