Virpax Pharmaceuticals, Inc. (Virpax), a preclinical-stage pharmaceutical company, reported its financial performance for the quarter ended June 30, 2024. The company experienced a net loss of $3.45 million for the quarter, compared to a net loss of $3.11 million for the same period in the previous year. Operating expenses totaled $3.46 million, with general and administrative expenses amounting to $1.5 million and research and development expenses reaching $1.96 million. The increase in R&D expenses was primarily due to the development of the company's lead product candidate, Probudur. Virpax's total assets stood at $2.59 million, while total liabilities were $5.39 million, resulting in a working capital deficit of $2.79 million. The company's cash position decreased significantly from $9.14 million at the end of December 2023 to $1.87 million by...Show More

Virpax Pharmaceuticals, Inc. (Virpax), a preclinical-stage pharmaceutical company, reported its financial performance for the quarter ended June 30, 2024. The company experienced a net loss of $3.45 million for the quarter, compared to a net loss of $3.11 million for the same period in the previous year. Operating expenses totaled $3.46 million, with general and administrative expenses amounting to $1.5 million and research and development expenses reaching $1.96 million. The increase in R&D expenses was primarily due to the development of the company's lead product candidate, Probudur. Virpax's total assets stood at $2.59 million, while total liabilities were $5.39 million, resulting in a working capital deficit of $2.79 million. The company's cash position decreased significantly from $9.14 million at the end of December 2023 to $1.87 million by June 2024. Virpax continues to focus on advancing its non-opioid pain management treatments and CNS disorder treatments. The company's future plans include commencing clinical trials for Probudur in the first quarter of 2025, subject to the availability of additional funding and the resolution of potential disruptions due to geopolitical instability in the Middle East. Virpax also plans to seek licensing or partnership opportunities for its nonprescription product candidates, AnQlar and Epoladerm, to focus on its prescription drug pipeline.