Virpax Pharmaceuticals, Inc. - VRPX STOCK NEWS

Virpax Pharmaceuticals (NASDAQ:VRPX) reported its financial results for Q3 and YTD 2021, highlighting a $40 million public offering that bolstered its balance sheet. The company aims to expedite its product pipeline, focusing on indications for pain, CNS disorders, and antiviral applications. Cash reserves stand at $41.7 million, enabling progress on IND filings for candidates like Epoladerm and Envelta. Operating losses grew to $3.2 million for Q3, up from $1.7 million a year prior, driven by rising operating expenses.

Virpax Pharmaceuticals (NASDAQ: VRPX) has announced the award of research and development contracts by the National Center for Advancing Translational Sciences (NCATS) to support the Good Manufacturing Practices (GMP) production of its drug Envelta. This includes the procurement of devices for preclinical studies and the manufacturing of the active ingredient L-ENK. Envelta is designed for pain management and is part of Virpax’s ongoing development efforts for non-addictive pain relief alternatives. The company plans to submit an IND package to the FDA to initiate human trials once the studies are completed.

Virpax Pharmaceuticals (NASDAQ: VRPX) announced an agreement with Sinclair Research to conduct preclinical studies of AnQlar™, an over-the-counter prophylactic aimed at combating SARS and influenza. These studies will assess method, dosage, and toxicity for an Investigational New Drug Application, expected to commence in January 2022. CEO Anthony Mack emphasized the significance of this step in advancing their anti-viral pipeline. AnQlar is a chitosan derivative that may inhibit viral replication and entry into cells, showcasing potential in managing viral infections.

Virpax Pharmaceuticals (NASDAQ: VRPX), focused on pain management and CNS disorders, announced that its Chairman and CEO, Anthony P. Mack, will present at the Pain Management Virtual Investor Forum on October 7, 2021, at 9:00 a.m. Eastern time. The event will be moderated by Gregory Aurand from Noble Capital Markets. Registration is free, and the presentation will be archived on Channelchek and Virpax's investor page. Virpax is known for its non-addictive pain management products and is pursuing FDA approval for innovative drug delivery systems.

Virpax Pharmaceuticals (NASDAQ:VRPX) has acquired exclusive global rights to Nanomerics' molecular envelope platform technology for the nasal delivery of cannabidiol (CBD) aimed at managing epilepsy in patients aged one year and older. The investigational product, VRP324, will utilize a unique device for intranasal CBD transport, targeting severe epilepsy syndromes. Preclinical studies are underway, and successful results may lead to an FDA application. This acquisition marks a strategic expansion into neurology, enhancing Virpax's innovative drug delivery platforms.

Virpax Pharmaceuticals (NASDAQ:VRPX) has completed an underwritten public offering of 6,670,000 shares at $6.00 each, raising gross proceeds of $40,020,000. An option for underwriters to purchase an additional 1,000,500 shares is also available. The funds will support R&D for multiple product candidates, repay notes, pay deferred compensation to the CEO, and cover general corporate expenses. ThinkEquity served as the sole book-running manager for the offering.

Virpax Pharmaceuticals (NASDAQ:VRPX) has announced the pricing of an underwritten public offering of 6,670,000 shares at $6.00 per share, totaling approximately $40 million before expenses. The company has also granted underwriters a 45-day option for an additional 1,000,500 shares. Proceeds will fund research and development for their pain management products, including Epoladerm and Probudur, and cover expenses related to the offering. ThinkEquity is the sole book-running manager for this offering.

Virpax Pharmaceuticals (NASDAQ:VRPX) announced the presentation of a poster on Leucine Enkephalin as a potential analgesic at PAINWeek 2021 from September 7-11, 2021 in Las Vegas, NV. The poster, titled Enkephalin as a Potential Analgesic, will be presented by Dr. Jeffrey A. Gudin on September 9. Envelta™, the intranasal formulation of enkephalin, aims to manage pain without the adverse effects linked to opioid use. Supported by a NIH partnership, animal trials suggest its efficacy comparable to morphine.

Virpax Pharmaceuticals (NASDAQ:VRPX) announced a manufacturing agreement with Seqens for the supply of MMS019, a novel drug for pain management. This collaboration ensures both clinical and long-term commercial supply, enhancing development capabilities. MMS019 utilizes advanced nanotechnology to deliver medication intranasally, showing promising preclinical results comparable to morphine without associated drug-seeking behavior. Virpax is also advancing other programs like Envelta™ for pain management and PES200 for PTSD, indicating a strong focus on innovative, non-addictive therapies.