{"id":43937,"date":"2022-05-16T15:01:05","date_gmt":"2022-05-16T13:01:05","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/virpax-pharmaceuticals-reports-2022-first-quarter-results-and-recent-developments\/"},"modified":"2022-05-16T15:01:05","modified_gmt":"2022-05-16T13:01:05","slug":"virpax-pharmaceuticals-reports-2022-first-quarter-results-and-recent-developments","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/virpax-pharmaceuticals-reports-2022-first-quarter-results-and-recent-developments\/","title":{"rendered":"Virpax Pharmaceuticals Reports 2022 First Quarter Results and Recent Developments"},"content":{"rendered":"
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\n— Company Continues to Successfully Advance Product Candidates —<\/b>\n<\/p>\n

BERWYN, Pa.–(BUSINESS WIRE)–#earnings<\/a>—Virpax\u00ae<\/sup> Pharmaceuticals, Inc. (\u201cVirpax\u201d or the \u201cCompany\u201d) (NASDAQ:VRPX)<\/b>, today announced its financial results for the quarter ended March 31, 2022, and other recent developments.\n<\/p>\n

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\n\u201cWe continue to make excellent progress with all of our drug product candidates,\u201d stated Anthony P. Mack, Chairman and Chief Executive Officer of Virpax. \u201cIn the first quarter of 2022, we secured global rights for AnQlar\u2122, 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\u2122.\n<\/p>\n

\n\u201cFor 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\u2122<\/sup> with the National Institutes of Health\u2019s National Center for Advancing Translational Sciences, which was awarded in 2020.\n<\/p>\n

\n\u201cWe 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.\n<\/p>\n

\n\u201cAs mentioned in a previous announcement, assuming the Envelta IND enabling studies and Phase 1 \u2018first-in-human\u2019 studies are accepted by the FDA for an acute\/chronic pain indication, the parent IND and Phase 1 data is expected to be used to cross reference to the proposed PTSD indication, eliminating the need to repeat both the preclinical and Phase I work for a second indication,\u201d continued Mr. Mack.\n<\/p>\n

\n\u201cWhile we have now secured global rights to all of our product candidates, our intention is to commercialize any products that we are able to get approved by the FDA in the U.S. and secure licensees for the rest of the world. Additionally, for our anti-viral product candidate, AnQlar, we intend to license or partner with another company that has OTC experience as we focus strictly on branded products. This licensing strategy along with our continued active pursuit of grants is non-dilutive and may extend our cash runway,\u201d concluded Mr. Mack.\n<\/p>\n

\nRECENT DEVELOPMENTS<\/b>\n<\/p>\n