Virpax Pharmaceuticals Reports 2021 Year-End Results

Virpax Pharmaceuticals Reports 2021 Year-End Results
CANNANNEW REPORT

–Company Advances All Pre-Clinical Programs– BERWYN, Pa.–(BUSINESS WIRE)–#earnings—Virpax® Pharmaceuticals, Inc. (“Virpax” or the “Company”) (NASDAQ:VRPX), today announced its financial results for the twelve months ended December 31, 2021, and other recent developments. “In the fourth quarter of 2021 and into the beginning of 2022, we have continued to make progress on all of the product candidates in our pipeline,” stated Anthony P. Mack, Chairman and Chief Executive Officer of Virpax. “We recently announced that we have selected a leading clinical trial organization in Canada and now expect to begin our First in Human study of Epoladerm™, our product candidate for pain associated with osteoarthritis of the knee, in the second half of 2022. Additionally, the National Center for Advancing Translational Sciences (NCATS), which is part of the National Institute of Health (NIH) and with whom we have a Cooperative Research and Development Agreement (CRADA), has awarded us multiple contracts to support the ongoing development of Envelta™, our product candidate for the management of acute and chronic pain. “Successful results from preclinical animal toxicology and pharmacokinetic studies of Epoladerm were reported in December of 2021. Additionally, in February of 2022, we announced positive results from four preclinical animal dermal safety studies for Epoladerm. We expect that these trials will strengthen our Investigational New Drug Application (IND) for this product. “With Envelta, our intranasal spray product candidate for acute and chronic pain, NCATS conducted two separate dose range finding toxicity studies that showed no adverse toxicologic findings. Upon anticipated successful completion of the remaining preclinical trials from NCATS, we intend to submit an IND to the FDA and if accepted, initiate a Phase 1 study in humans. “With respect to Probudur™, our injectable bupivacaine liposomal hydrogel product candidate for postoperative pain management, we continue to improve the formulation in order to prolong…

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