Why Virpax Pharmaceuticals Inc. (VRPX) stock rallied on Wednesday?

DBGI Stock
DBGI Stock

Virpax Pharmaceuticals Inc. (VRPX) shares rallied 11.65% in after-hours on Wednesday, July 14, 2021, and closed at $8.24 per share. Earlier in the morning session, VRPX’s stock gained 30.62% to close Wednesday’s session at $7.38. VRPX shares have moved up 42.47% in the past week. Over the past three months, the stock has gained 59.74%. The company has a current market of $37.56 million and its outstanding shares stood at 3.94 million.

>> 7 Top Picks for the Post-Pandemic Economy << 

Progress Update on Product Candidates

On July 07, 2021, Virpax Pharmaceuticals Inc provided a progress update on its pipeline of product candidates following the Company’s initial public offering in mid-February of 2021.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


Read More

Update about Epoladerm

The Company will begin a series of IND enabling toxicity studies for Epoladermwhich are expected to take from eight months to one year to complete. Upon successful completion of these studies, the Company intends to submit an IND application to the FDA, including a trial design for a Phase I study.

Epoladerm is Virpax’s metered-dose diclofenac spray film product candidate that is currently being evaluated for two indications, acute musculoskeletal pain and chronic osteoarthritis of the knee pain (OSF200).

Update about Probudur

Probudur is Virpax’s injectable bupivacaine liposomal hydrogel for postoperative pain management. The Company is strategically delaying trials to enhance the formulation of Probudur to increase stability for manufacturing purposes and to possibly extend the lifetime of a relevant patent.

Envelta progress update

Envelta is Virpax’s endogenous enkephalin intranasal spray for acute and chronic pain, including pain associated with cancer.

The Company intends to use these studies as a source for INDs for two additional potential indications, cancer pain and Post-Traumatic Stress Disorder. To date, 2 of the 4 planned initial in vitro studies have been successfully completed. These pre-clinical studies under the CRADA will be conducted through 2021 and early 2022.

Recent financial results announcement

On May 18, 2021, Virpax Pharmaceuticals, Inc reported its financial results for the quarter ended March 31, 2021.

Q1 2021 financial highlights

  • The total operating expenses were $2.35 million in Q1 2021 compared to $0.62 million in Q1 2020.
  • It suffered an operating loss of approximately $2.3 million in Q1 2021, as compared to $0.6 million for the same period a year ago.
  • Cash used in operations was $3,080,238 for Q1 2021, compared to $222,396 for Q1 2020.
  • In Q1 2021 net loss was $2.38 million or Basic and diluted net loss per share of $0.60 compared to a net loss of $0.66 million or Basic and diluted net loss per share of $0.22 in Q1 2020.
  • The Company had cash and cash equivalents of approximately $12.3 million on March 31, 2021.

    >> 7 Top Picks for the Post-Pandemic Economy << 


As of this writing, there is no recent news or development behind its exceptional performance on Wednesday.


Please enter your comment!
Please enter your name here