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Virpax Pharmaceuticals | 10-K/A: Annual report (Amendment)

Virpax Pharmaceuticals | 10-K/A: Annual report (Amendment)

Virpax制药 | 10-K/A：年度报表(修正版)
美股SEC公告 ·  2024/10/10 14:11

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Virpax Pharmaceuticals reported a net loss of $15.2 million for fiscal year 2023, compared to $21.7 million in 2022. Total operating expenses decreased to $15.7 million from $21.8 million, with research and development expenses declining 52% to $5.1 million. The company ended the year with $9.1 million in cash.The company reached a settlement agreement with Sorrento Therapeutics and Scilex Pharmaceuticals, agreeing to pay $6 million in cash payments ($3.5 million paid in March 2024 and $2.5 million due by July 1, 2024) plus 6% royalties on future sales of Epoladerm, Probudur and Envelta products. The settlement resolves all claims against Virpax related to the litigation.Management continues to advance its pipeline of non-opioid pain management candidates, though noting substantial doubt about its ability to continue as a going concern due to continuing losses and cash position. The company will need to raise additional capital to fund operations and make the remaining $2.5 million litigation payment. Development activities for Probudur in Israel may face potential delays due to regional conflicts.
Virpax Pharmaceuticals reported a net loss of $15.2 million for fiscal year 2023, compared to $21.7 million in 2022. Total operating expenses decreased to $15.7 million from $21.8 million, with research and development expenses declining 52% to $5.1 million. The company ended the year with $9.1 million in cash.The company reached a settlement agreement with Sorrento Therapeutics and Scilex Pharmaceuticals, agreeing to pay $6 million in cash payments ($3.5 million paid in March 2024 and $2.5 million due by July 1, 2024) plus 6% royalties on future sales of Epoladerm, Probudur and Envelta products. The settlement resolves all claims against Virpax related to the litigation.Management continues to advance its pipeline of non-opioid pain management candidates, though noting substantial doubt about its ability to continue as a going concern due to continuing losses and cash position. The company will need to raise additional capital to fund operations and make the remaining $2.5 million litigation payment. Development activities for Probudur in Israel may face potential delays due to regional conflicts.
Virpax制药公司报告2023财年净亏损1520万美元，较2022年的2170万美元有所减少。总营业费用从2180万美元减少至1570万美元，其中研发费用下降52%，至510万美元。公司年末现金余额为910万美元。公司与Sorrento Therapeutics和Scilex Pharmaceuticals达成和解协议，同意支付600万美元的现金款项（350万美元将在2024年3月支付，250万美元将在2024年7月1日前到期），并在未来Epoladerm、Probudur和Envelta产品的销售上支付6%的 royalties。此和解解决了与Virpax相关的所有诉讼索赔。管理层继续推进其非阿片类疼痛管理候选药物的研发，但指出由于持续亏损和现金状况，关于其持续经营能力存在重大疑虑。公司需要筹集额外资金来资助运营并支付剩余的250万美元诉讼款项。Probudur在以色列的开发活动可能由于区域冲突而面临延迟。
Virpax制药公司报告2023财年净亏损1520万美元，较2022年的2170万美元有所减少。总营业费用从2180万美元减少至1570万美元，其中研发费用下降52%，至510万美元。公司年末现金余额为910万美元。公司与Sorrento Therapeutics和Scilex Pharmaceuticals达成和解协议，同意支付600万美元的现金款项（350万美元将在2024年3月支付，250万美元将在2024年7月1日前到期），并在未来Epoladerm、Probudur和Envelta产品的销售上支付6%的 royalties。此和解解决了与Virpax相关的所有诉讼索赔。管理层继续推进其非阿片类疼痛管理候选药物的研发，但指出由于持续亏损和现金状况，关于其持续经营能力存在重大疑虑。公司需要筹集额外资金来资助运营并支付剩余的250万美元诉讼款项。Probudur在以色列的开发活动可能由于区域冲突而面临延迟。
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