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Virpax Pharmaceuticals | 10-Q: Q3 2024 Earnings Report

Virpax Pharmaceuticals | 10-Q: Q3 2024 Earnings Report

Virpax製藥 | 10-Q：2024財年三季報
美股SEC公告 ·  2024/11/15 06:07

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Virpax Pharmaceuticals reported a Q3 2024 net loss of $2.0 million, compared to a $6.0 million loss in Q3 2023. Total operating expenses decreased 69% to $1.9 million, driven by lower litigation costs and reduced general and administrative expenses. The company ended the quarter with $17,229 in cash, down from $9.1 million at year-end 2023.The company reached a settlement agreement with Sorrento Therapeutics and Scilex Pharmaceuticals, agreeing to pay $6 million in cash plus 6% royalties on future sales of certain products. Virpax also underwent leadership changes, with Jatinder Dhaliwal appointed as CEO following the resignation of Gerald Bruce and other executives. Cost-cutting measures included 50% salary reductions and elimination of D&O insurance.Development continues on lead candidate Probudur, with clinical trials expected to commence in Q1 2025. The company raised $2.8 million from warrant exercises in July 2024 and completed a $5 million public offering in November 2024. However, Virpax faces ongoing Nasdaq listing compliance challenges and requires substantial additional capital to fund operations and development programs.
Virpax Pharmaceuticals reported a Q3 2024 net loss of $2.0 million, compared to a $6.0 million loss in Q3 2023. Total operating expenses decreased 69% to $1.9 million, driven by lower litigation costs and reduced general and administrative expenses. The company ended the quarter with $17,229 in cash, down from $9.1 million at year-end 2023.The company reached a settlement agreement with Sorrento Therapeutics and Scilex Pharmaceuticals, agreeing to pay $6 million in cash plus 6% royalties on future sales of certain products. Virpax also underwent leadership changes, with Jatinder Dhaliwal appointed as CEO following the resignation of Gerald Bruce and other executives. Cost-cutting measures included 50% salary reductions and elimination of D&O insurance.Development continues on lead candidate Probudur, with clinical trials expected to commence in Q1 2025. The company raised $2.8 million from warrant exercises in July 2024 and completed a $5 million public offering in November 2024. However, Virpax faces ongoing Nasdaq listing compliance challenges and requires substantial additional capital to fund operations and development programs.
Virpax製藥在2024年第三季度報告淨虧損200萬美元，相比之下，2023年第三季度虧損600萬美元。總營業費用下降69%，降至190萬美元，主要受低訴訟費用和減少的管理費用的推動。公司在季度末現金餘額爲17,229美元，較2023年年底的910萬美元有所下降。公司與Sorrento Therapeutics和Scilex Pharmaceuticals達成和解協議，同意支付600萬美元現金以及未來某些產品銷售的6% royalty。Virpax還進行了領導層更換，在Gerald Bruce及其他高管辭職後，Jatinder Dhaliwal被任命爲首席執行官。削減成本的措施包括減少50%...展開全部
Virpax製藥在2024年第三季度報告淨虧損200萬美元，相比之下，2023年第三季度虧損600萬美元。總營業費用下降69%，降至190萬美元，主要受低訴訟費用和減少的管理費用的推動。公司在季度末現金餘額爲17,229美元，較2023年年底的910萬美元有所下降。公司與Sorrento Therapeutics和Scilex Pharmaceuticals達成和解協議，同意支付600萬美元現金以及未來某些產品銷售的6% royalty。Virpax還進行了領導層更換，在Gerald Bruce及其他高管辭職後，Jatinder Dhaliwal被任命爲首席執行官。削減成本的措施包括減少50%的工資和取消D&O保險。針對主要候選藥物Probudur的開發仍在進行中，預計臨牀試驗將在2025年第一季度開始。公司在2024年7月通過認股權證籌集了280萬美元，並在2024年11月完成了500萬美元的公開發行。然而，Virpax面臨持續的納斯達克上市合規挑戰，並需要大量額外資本來資助運營和開發項目。

該公告為獨立文件：

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