{"id":47286,"date":"2022-08-15T15:02:01","date_gmt":"2022-08-15T13:02:01","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/virpax-pharmaceuticals-reports-2022-second-quarter-results-and-recent-developments\/"},"modified":"2022-08-15T15:02:01","modified_gmt":"2022-08-15T13:02:01","slug":"virpax-pharmaceuticals-reports-2022-second-quarter-results-and-recent-developments","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/virpax-pharmaceuticals-reports-2022-second-quarter-results-and-recent-developments\/","title":{"rendered":"\u00a0Virpax Pharmaceuticals Reports 2022 Second Quarter Results and Recent Developments"},"content":{"rendered":"
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\n\u00a0–Company Advances Product Candidate Pipeline\u2014<\/b>\n<\/p>\n

\n–Announces Preliminary Results from Virology Study–<\/b>\n<\/p>\n

BERWYN, Pa.–(BUSINESS WIRE)–#earnings<\/a>—Virpax\u00ae<\/sup> Pharmaceuticals, Inc. (\u201cVirpax\u201d or the \u201cCompany\u201d) (NASDAQ:VRPX),<\/b> a company specializing in developing non-addictive product candidates for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and viral barrier indications, today announced its financial results for the quarter ended June 30, 2022, and other recent developments.\n<\/p>\n

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\n\u201cWe continue to advance our product candidate pipeline focused on pain, CNS and viral barrier indications,\u201d stated Anthony P. Mack, Chairman and CEO of Virpax. \u201cAnQlar\u2019s preclinical studies continue to progress; we believe one of our preclinical virology studies shows an appropriate level of virus deactivation for a prophylactic viral barrier product candidate. We have a number of studies ongoing and expect to be reporting some results later this year.\n<\/p>\n

\n\u201cAs we have previously stated, we are engaging in activities to potentially extend our cash runway as we move our product candidates forward. As part of this effort, we are evaluating grant opportunities and applying to those where we believe we have a reasonable chance of being selected. We recently announced and entered into a cooperative research and development agreement (CRADA) with the U.S. Army Institute of Surgical Research (USAISR) to evaluate Probudur\u2122<\/sup>, our wound site injectable product candidate that has demonstrated at least 96 hours of pain control in pre-clinical trials. The USAISR is the U.S. Department of Defense\u2019s (DOD) primary laboratory for developing solutions for trauma and critical care challenges in combat injuries and casualties,\u201d continued Mr. Mack.\n<\/p>\n

\n\u201cWe engaged Prequient Inc., a consulting firm with extensive experience in the Consumer Self-Care or over-the-counter (OTC) marketplace. The Prequient team has been instrumental in analyzing the consumer proposition and assessing alternative regulator pathways such as our switch to an OTC pathway for Epoladerm\u2122<\/sup>, and the recently announced OTC medical device pathway for AnQlar. We believe being able to obtain potential approval for an OTC product or device should be less expensive and provide us with a faster drug development timeline and faster global approval track than the Rx prescription pathway that we originally were pursuing.\n<\/p>\n

\n\u201cOur expertise is in the prescription drug market, and we plan to develop our Rx product candidates and commercialize them in the U.S. However, we intend to license our OTC product candidates to a company that specializes in the Consumer Self-Care market. We believe combining the potential revenue from licensing these OTC product candidates to third parties with the potential licensing of our prescription product candidates outside the U.S., may allow us to offset a portion of our R&D expenses as we continue to grow,\u201d concluded Mr. Mack.\n<\/p>\n

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