Virpax Pharmaceuticals Inc Stock Price, News & Analysis

Virpax Pharmaceuticals (NASDAQ:VRPX) reported financial results for Q2 2022, showing a significant rise in operating expenses, reaching approximately $5.9 million, up from $2.3 million year-over-year. Research and development costs soared to around $3.3 million, primarily driven by preclinical studies for its product candidates AnQlar, Probudur, and Epoladerm. The company announced progress in its pipeline, including a partnership with the U.S. Army for Probudur and plans to pursue OTC regulatory pathways for Epoladerm and AnQlar for faster approval.

Virpax Pharmaceuticals (NASDAQ: VRPX) has announced its decision to pursue an OTC Intranasal Medical Device pathway for AnQlar™, which aims to act as a prophylactic antiviral barrier against influenza and SARS-CoV-2. The company anticipates this regulatory route will expedite development and global approval compared to the previously sought OTC non-prescription New Drug Application. Virpax will submit various studies to the FDA regarding AnQlar, while also focusing on its other OTC candidate, Epoladerm™, and its prescription drug pipeline.

Virpax Pharmaceuticals (NASDAQ: VRPX) announced its decision to pursue a direct OTC regulatory pathway for Epoladerm™, intended to treat osteoarthritis pain. This approach is expected to expedite drug development and approval compared to the initial prescription route. To support the OTC submission, Virpax will submit various studies to the FDA, including dermal toxicity and consumer preference assessments. CEO Anthony Mack emphasizes Epoladerm's potential for convenient dosing. The company intends to validate its claims across North America, Europe, and Asia.

Virpax Pharmaceuticals (NASDAQ: VRPX), a company focused on pain management and CNS disorders, announced its participation in the H.C. Wainwright Global Investment Conference from May 24 to May 27. Chairman & CEO Anthony P. Mack will present on-demand starting at 7:00 a.m. ET. Additionally, one-on-one virtual meetings will be available from May 25 to May 27. A replay of the presentation can be accessed for 90 days on the Virpax website. The company is developing innovative pain management products, including Epoladerm™, Probudur™, and Envelta™.

Virpax Pharmaceuticals (NASDAQ:VRPX) reported a Q1 2022 operating loss of approximately $5.1 million, up from $2.3 million in Q1 2021, driven by increased research and development expenses. Key developments include securing global rights for AnQlar and completing initial preclinical studies for VRP324, aimed at managing epilepsy-related seizures. The Company announced a cooperation agreement with the U.S. Army for Probudur, which could reduce postoperative opioid use. Cash position stands at approximately $30.8 million, with a focus on non-dilutive funding strategies.

Virpax Pharmaceuticals (NASDAQ: VRPX) has entered into a cooperative research and development agreement (CRADA) with the U.S. Army Institute of Surgical Research to evaluate Probudur, an injectable long-acting liposomal bupivacaine aimed at reducing postoperative opioid use. Probudur has demonstrated pain control for at least 96 hours in pre-clinical trials. This collaboration aligns with Virpax's strategy for non-dilutive funding and builds on prior partnership with the National Institutes of Health for another pain management product, Envelta.

Virpax Pharmaceuticals (NASDAQ: VRPX) has reported promising preclinical pharmacokinetics results for VRP324, a nasal CBD candidate designed for seizure management in children and adults. The study indicates effective nose-to-brain delivery, achieving higher CBD concentrations in the brain compared to plasma. This method may lead to reduced side effects and drug interactions. The company is preparing a pre-IND application for FDA review, targeting seizures related to disorders like Lennox-Gastaut syndrome and Dravet syndrome.

Virpax Pharmaceuticals (NASDAQ:VRPX) reported its financial results for the year ended December 31, 2021, highlighting significant advancements in its pre-clinical pipeline. The company has selected a clinical trial organization to initiate a First in Human study of Epoladerm for osteoarthritis knee pain in 2022. Virpax received multiple contracts from NCATS for its Envelta and has seen positive preclinical results for both Epoladerm and Envelta. However, operating expenses rose by 147% to $7.2 million, primarily due to increased legal and insurance costs. Cash reserves at year-end stood at approximately $36.8 million.

Virpax Pharmaceuticals has completed all FDA-required pre-clinical studies for its investigational topical analgesic, Epoladerm™, aimed at managing chronic knee pain due to osteoarthritis. The studies encompassed dermal toxicity and phototoxicity, among others. Virpax is preparing to submit its Investigational New Drug Application (IND) including these results. A clinical trial agreement with Altasciences is in place for a first-in-human pilot study in Canada, with patient enrollment expected in 2022.

Management expresses confidence that Epoladerm will be a more effective treatment option for osteoarthritis pain.