Virpax Pharmaceuticals Reports 2022 First Quarter Results and Recent Developments

Virpax Pharmaceuticals Reports 2022 First Quarter Results and Recent Developments
CANNANNEW REPORT

— Company Continues to Successfully Advance Product Candidates — BERWYN, Pa.–(BUSINESS WIRE)–#earnings—Virpax® Pharmaceuticals, Inc. (“Virpax” or the “Company”) (NASDAQ:VRPX), today announced its financial results for the quarter ended March 31, 2022, and other recent developments. “We continue to make excellent progress with all of our drug product candidates,” stated Anthony P. Mack, Chairman and Chief Executive Officer of Virpax. “In the first quarter of 2022, we secured global rights for AnQlar™, completed initial preclinical studies for VRP324, which is being developed to manage seizures associated with epilepsy in children, and announced the entry into a new CRADA with the U.S. Army for Probudor™. “For substantially all of our product candidates, we have identified a distinct regulatory pathway (NCE, 505(b)(2), or OTC) based on FDA pre-IND guidance. Our robust pipeline provides U.S. commercial opportunities as well as ex-U.S. business opportunities. We intend to pursue global sublicensing and co-development opportunities with strategic biopharmaceutical partners as part of our non-dilutive funding strategy. Additionally, we will continue to pursue non-dilutive government and military grant agreements similar to our recently announced CRADA with the U.S. Army and our ongoing CRADA for the development of Envelta™ with the National Institutes of Health’s National Center for Advancing Translational Sciences, which was awarded in 2020. “We believe that our cash position, as well as our development and regulatory strategies, may allow Virpax to advance each product candidate efficiently and cost-effectively towards an anticipated clinical trial. As an example, we expect that data from our Molecular Envelope Technology (MET) preclinical studies may be able to be used to support the development of two drug candidates. Since Envelta and VRP324 both use our MET powder formulation, we may be able to reference the same MET preclinical data for both submissions, saving us time and money. “As mentioned in a previous…

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