Virpax Pharmaceuticals, Inc., a Delaware-based company, reported its financial results for the first quarter ended March 31, 2024, on May 13, 2024. The company, which specializes in non-addictive pain management, PTSD, CNS disorders, and viral barrier products, disclosed an operating loss of $3.2 million for the quarter, compared to $1.5 million for the same period in 2023. General and administrative expenses increased to $1.7 million, up from $0.4 million in the previous year, while research and development expenses rose to $1.6 million from $1.2 million. The company highlighted its progress with Probudur, a single injection liposomal bupivacaine formulation, and other product candidates using its proprietary drug delivery technologies. Virpax also announced the results of a Maximum Tolerated Dose Study for Probudur, a litigation settlement with Sorrento Therapeutics, Inc., and...Show More

Virpax Pharmaceuticals, Inc., a Delaware-based company, reported its financial results for the first quarter ended March 31, 2024, on May 13, 2024. The company, which specializes in non-addictive pain management, PTSD, CNS disorders, and viral barrier products, disclosed an operating loss of $3.2 million for the quarter, compared to $1.5 million for the same period in 2023. General and administrative expenses increased to $1.7 million, up from $0.4 million in the previous year, while research and development expenses rose to $1.6 million from $1.2 million. The company highlighted its progress with Probudur, a single injection liposomal bupivacaine formulation, and other product candidates using its proprietary drug delivery technologies. Virpax also announced the results of a Maximum Tolerated Dose Study for Probudur, a litigation settlement with Sorrento Therapeutics, Inc., and Scilex Pharmaceuticals, Inc., and the initial results from a pilot study for Probudur by the U.S. Army Institute of Surgical Research. Additionally, the company mentioned its product candidates Envelta and NobrXiol, which utilize Molecular Envelope Technology developed by Nanomerics, recently awarded the King's Award for Enterprise 2024. Virpax ended the quarter with approximately $1.9 million in cash.