Summary by Moomoo AI
Virpax Pharmaceuticals, Inc., a Delaware-incorporated company, has announced the full prepayment of its senior secured promissory note on July 25, 2024. The note, which was issued to an investor on July 5, 2024, had a maturity date of December 31, 2025, and was secured by a lien on all of the company's assets. The total payment made by Virpax Pharmaceuticals included both the principal and accrued interest, amounting to approximately $2,525,000. The note carried an interest rate of 18% per annum. This financial move was disclosed in a Form 8-K report filed with the United States Securities and Exchange Commission. The company, listed on The Nasdaq Capital Market under the trading symbol VRPX, is also classified as an emerging growth company.