Virnetx Holding Stock Price, News & Analysis

VirnetX Holding Corporation (NYSE: VHC) announced that the United States Court of Appeals for the Federal Circuit upheld the Patent Trial and Appeal Board's decision, declaring claims of U.S. Patent Nos. 6,502,135 and 7,490,151 unpatentable. CEO Kendall Larsen expressed disappointment with the ruling, stating the company may seek further legal recourse. Despite these challenges, VirnetX confirmed that its $1.00 Special Cash Dividend per share remains unaffected by any litigation outcomes.

VirnetX Holding Corporation (NYSE: VHC) has declared a special cash dividend of $1.00 per common share, totaling approximately $71.4 million, to be paid on April 17, 2023. Shareholders on record by April 10, 2023 will receive this dividend, marking a total distribution exceeding $165 million throughout its public history. The company has committed to distribute 80% of future litigation proceeds against Apple Inc., pending the outcome of a significant $500 million damages ruling. Additionally, VirnetX plans to enhance its Board with an independent director to improve diversity.

VirnetX Holding Corporation (NYSE: VHC) announced that the City of Bridgeport, West Virginia, has deployed its VirnetX Matrix™ technology to enhance protection against ransomware and malware attacks. This partnership, facilitated by Solution Synergy, aims to secure the city's internet-based applications and critical infrastructure. VirnetX Matrix™ offers Zero-Trust Network Access, providing secure access and real-time network management without the need for expensive hardware upgrades. Since its deployment, Bridgeport has reported positive financial impacts and increased efficiency, aligning with the Department of Homeland Security's cybersecurity goals.

VirnetX Holding Corporation (NYSE: VHC) has announced the deployment of its VirnetX Matrix™ cybersecurity solution by the City of Bridgeport, West Virginia, enhancing protection against ransomware and malware attacks. This initiative, in partnership with Solution Synergy, aims to secure the city's internet applications and infrastructure. The Matrix™ solution offers Zero-Trust Network Access, enabling simple and secure access for employees. Following a previous ransomware incident, Bridgeport experienced positive financial impacts and improved operational efficiency since adoption. VirnetX Matrix™ is noted for its user-friendliness and compatibility with existing systems, eliminating the need for costly hardware upgrades.

VirnetX Holding Corporation has entered a non-exclusive sales agreement with Solution Synergy to market its VirnetX One™ product suite, focusing on healthcare and government sectors vulnerable to cyber threats. The partnership aims to leverage Zero Trust technology to provide enhanced security solutions amid rising ransomware attacks. Kendall Larsen, CEO of VirnetX, emphasized the significance of this partnership, highlighting Solution Synergy's extensive experience in healthcare IT. The VirnetX Matrix™ and War Room™ products are designed to safeguard enterprise applications and facilitate secure communications.

VirnetX Holding Corporation (NYSE: VHC) has announced the launch of VirnetX Matrix, a security solution designed to protect private access to Internet applications and services. This platform allows real-time network management and enforces access policy controls to safeguard against cyber threats. Matrix utilizes the VirnetX One SaaS platform, employing a Zero Trust architecture and patented technology. With the rise of remote work and interconnected devices, the Matrix aims to secure hybrid workforces and corporate applications against evolving security threats.

VirnetX Holding Corporation (NYSE: VHC) has launched War Room, a secure video conferencing platform designed to protect sensitive information from cyber threats. Built on a Zero Trust framework and powered by VirnetXOne's Gabriel technology, War Room offers features such as unlimited meetings, secure participant verification, and AES-256 encryption. The global video conferencing market is projected to reach $7.71 billion by 2025, highlighting the demand for secure communication solutions. This initiative aims to safeguard remote work environments across various sectors, including legal and medical.

VirnetX Holding Corporation (NYSE: VHC) announced the adoption of its Zero Trust Networking Technology by IASIS Technologies International to enhance data protection in health technology. This partnership addresses critical data security needs amidst rising ransomware threats, with a notable 34% of healthcare organizations affected in 2021. IASIS is involved in a federally funded study on m-TBI and PTSD, emphasizing the necessity for robust data recovery solutions. VirnetX's technology aims to improve data integrity and availability, aligning with the federal government's recommendation for zero trust security in organizational strategies.

VirnetX Holding Corporation (NYSE: VHC) announced the implementation of its Zero Trust Networking Technology by the National Credit Union ISAO (NCU-ISAO) alongside Asgard's Zero-Trust EverSafe Backup and Disaster Recovery Service. This partnership aims to enhance cyber resilience against ransomware, which saw a staggering 1,318% increase in attacks from 2020 to 2021. The technology secures data across private domains, ensuring integrity and availability. With 76% of organizations adopting zero trust security, this collaboration represents a step forward in protecting critical data assets.