Virpax Pharmaceuticals Inc (VRPX) News

VRPX: Still kickin' myself for stupidly-misinterpreting their PR as classic FLUFF NEWS. (Which indeed it still was, despite what anybody says!!! WOW!!! they got $2.5-Mil. FINANCING, so they don't fold-up-shop!!! GOD bless them!!!!)

today announced that it has closed a $2.5 million secured loan financing from an institutional investor which enabled the final payment of its litigation settlement. As part of this financing, the Company’s Board of Directors has been reorganized, and has been reduced to seven members from eight. Four new board members have been selected by the institutional investor and appointed to the Board, and five Board members have resigned.

“This loan by the institutional investor, combined with an agreement to negotiate additional funding, will allow us to continue fulfilling our mission to develop non-addictive pain drugs as well as other CNS product candidates with high unmet medical need,” stated Gerald Bruce, CEO of Virpax Pharmaceuticals. “We believe we have a valuable portfolio of assets which was confirmed to us by the high level of interest we received at the recent BIO meeting in San Diego. Our new funding relationship gives us the confidence and flexibility to fund our programs moving forward.”

Additionally, Virpax announced the changes to its Board of Directors with the appointments of Ms. Judy Su, Mr. Gary Herman, Mr. Jatinder Dhaliwal and Ms. Katharyn Field. Resignations from Virpax’s Board were tendered effective upon consummation of the financing by Dr. Jeffrey Gudin, Dr. Thanigavelan Jambulingam, Mr. Michael Dubin, Mr. Jerrold Sendrow and Dr. Barbara Ruskin.

“We are excited to welcome our new Board members whom we anticipate will bring expertise and fresh vision to assist us as we move into our next stage of development. We expect to begin first-in-human trials in 2025,” continued Mr. Bruce.

Ms. Judy Su was lead pharmacist at a national drug store for six years and has knowledge and experience of large-scale retail distribution of scheduled drugs and medications. Currently, Ms. Su works as a pharmacist in the public sector. She has years of experience serving as an independent director for multiple publicly traded companies listed in Canada (CSE,TSX). Judy graduated in 2012 at the University of British Columbia with a bachelor's degree in pharmacy.

Mr. Gary Herman is a seasoned investor. From 2006 until 2021, he co-managed Strategic Turnaround Equity Partners, LP (Cayman), and from 2005 until 2020 he was affiliated with Arcadia Securities LLC. Gary’s expertise extended to his role as a managing member of Abacoa Capital Management, LLC from January 2011 until August 2013, where his focus centered on the Global-Macro investment strategy. His background also includes tenure as an investment banker at Burnham Securities, Inc., a managing partner of Kingshill Group, Inc., and as a director for various public company boards. Mr. Herman received a B.S. in Political Science from the University at Albany, with minors in Business and Music.

Mr. Jatinder (Jay) Dhaliwal is a registered pharmacist and has served as CEO and director of multiple publicly traded companies listed on Canadian (CSE, TSX) and American (Nasdaq) exchanges. Mr. Dhaliwal is currently a director of a Nasdaq listed leading seed to patient cannabis producer in Europe as well as serving as an independent director of a Nasdaq listed premier marketing agency specialized in the liquor industry. Previously, he worked in an upper management role in a large national pharmacy and has extensive knowledge in agricultural, medical and pharmaceutical operations. Mr. Dhaliwal holds a Bachelor of Pharmacy from the University of British Columbia and a Bachelor of Science in biology from the University of Victoria.

Ms. Katharyn (Katie) Field’s background includes positions spanning both the private and public sectors and brings a wealth of experience and expertise in strategy consulting and executive leadership. Ms. Field is currently the CEO and Chairman of Halo Collective Inc., an Executive Director at Akanda Corporation, and the Chairperson of Aerwins Technology. She has held prominent positions at renowned organizations including in the White House in the office of the public liaison, the Brookings Institution as a manager of operations, and Bain & Company as a consultant. In 2014, Ms. Field entered the cannabis industry working with one of the original vertically integrated licensed medical marijuana treatment centers in Florida. Subsequently, she operated a strategy consulting practice focused on cannabis and served as Executive Vice President of Corporate Development at MariMed from 2018 to 2019. Ms. Field holds an MBA from Columbia Business School and a BA with honors from Stanford University.

“We are grateful to the outgoing Board members and thank them for their support and contributions,” concluded Mr. Bruce.

About Virpax Pharmaceuticals

Virpax is developing branded, non-addictive pain management products candidates using its proprietary technologies to optimize and target drug delivery. Virpax is initially seeking FDA approval for two prescription drug candidates that employ two different patented drug delivery platforms. Probudur™ is a single injection liposomal bupivacaine formulation being developed to manage post-operative pain and Envelta™ is an intranasal molecular envelope enkephalin formulation being developed to manage severe pain, including post cancer pain. Virpax is also using its intranasal Molecular Envelope Technology (MET) to develop one other prescription product candidate, NobrXiol™, which is being developed for the nasal delivery of a pharmaceutical-grade cannabidiol (CBD) for the management of rare pediatric epilepsy. Virpax has competitive cooperative research and development agreements (CRADAs) for two of its prescription drug candidates, one with the National Institutes of Health (NIH) and one with the Department of Defense (DOD). Virpax is also seeking approval of two nonprescription product candidates: AnQlar, which is being developed to inhibit viral replication caused by influenza or SARS-CoV-2, and Epoladerm™, which is a topical diclofenac spray film formulation being developed to manage pain associated with osteoarthritis. For more information, please visit virpaxpharma.com and follow us on Twitter, LinkedIn and YouTube.

Not a bad day

tint float with news

VRPX......................................https://stockcharts.com/h-sc/ui?s=VRPX&p=W&b=5&g=0&id=p86431144783

VRPX: effective March 1,2024 a one for 10 reverse split:

https://hedgefollow.com/upcoming-stock-splits.php

VRPX...........................................https://stockcharts.com/h-sc/ui?s=VRPX&p=W&b=5&g=0&id=p86431144783

whats the latest here? https://finviz.com/quote.ashx?t=VRPX&ty=c&ta=1&p=d

“ Litigation

From time to time the Company is subject to claims by third parties under various legal disputes. The defense of such claims, or any adverse outcome relating to any such claims, could have a material adverse effect on the Company’s liquidity, financial condition and cash flows.

On March 12, 2021, the Company and Mr. Mack (the “Defendants”) were named as defendants in a complaint (the “Complaint”) filed by Sorrento Therapeutics, Inc. (“Sorrento”), and Scilex Pharmaceuticals Inc. (“Scilex” and together with Sorrento, the “Plaintiffs”) in the Court of Chancery of the State of Delaware. In the Complaint, the Plaintiffs alleged (i) Mr. Mack breached a Restrictive Covenants Agreement, dated as of November 8, 2016, between himself and Sorrento (the “Restrictive Covenants Agreement”), (ii) the Company tortiously interfered with the Restrictive Covenants Agreement, and (iii) the Company tortiously interfered with Scilex’s relationship with Mr. Mack. On May 7, 2021 Plaintiffs filed an Amended Complaint (the “First Amended Complaint”) asserting the same three causes of action. Simultaneously with filing the original Complaint, Plaintiffs filed a motion to expedite, seeking a hearing on their prospective motion for a preliminary injunction, prohibiting Mr. Mack’s alleged violations of the Restrictive Covenants Agreement and prohibiting the alleged tortious interference. On March 22, 2021, Vice Chancellor Paul A. Fioravanti Jr. issued a scheduling order, setting forth terms which had been agreed to by the parties, under which oral argument on Plaintiffs’ proposed motion for preliminary injunction was scheduled for July 15, 2021. On May 18, 2021, the Vice Chancellor issued a revised scheduling order, also setting forth terms which had been agreed to by the parties, under which Plaintiffs agreed not to move for a preliminary injunction and a trial in the action was set for February 9-11, 2022. On September 28, 2021, Plaintiffs filed a Second Amended Verified Complaint asserting the same three causes of action as the prior complaints, as well as additional claims in which Plaintiffs allege (i) Mr. Mack breached an Employment, Proprietary Information and Inventions Agreement, dated as of October 25, 2016, between himself and Sorrento (the “Employment Agreement”), (ii) the Company tortiously interfered with the Employment Agreement, (iii) Mr. Mack breached his fiduciary duties to Scilex, and (iv) the Company aided and abetted Mr. Mack’s alleged breach of fiduciary duties to Scilex. On October 18, 2021, Defendants filed an Answer to the Second Amended Complaint, and subsequently withdrew a previously filed motion to dismiss the first Amended Complaint. We intend to vigorously defend the action. However, we are unable to predict the ultimate outcome of the lawsuit at this time.
“

- From the quarterly filing

News

Adding here

Company just screwed existing share holders with a $6.00 placement. Shame on you./ok2

Halted this morning pending news. On my watchlist./ok2

Back in on the buy, thanks to the seller./ok2

Also extremely low float on this one. Big money looking to steal your shares today if you let them./ok2

I see the games are afoot here. Large asks coming into the block, looking to scare retailers holding the stock into selling lower. Don't be intimidated by institutions into selling your shares because they are buying them./ok2

Oversold on a Friday. Bought and will hold into next week. Good luck to all./ok2buy

VRPX - MIDDAY REPORT

Another SCAM play? lolzzzzzz

Ouch! CRASH AND BURN!!!!!! lolzzzzzzzzzzz No COXY ROXY here! lolzzzzz

It happens....I was up going into the late afternoon so I went to the beach for an hour just to come back to a disaster haha.

Yeah, not my finest moment for sure.

CHRS is the next big runner, has 50 dollars writen all over it by Monday next week.

That didn't work out well....

Everyone look at NURO on its run. Same pattern. Exploded to $40 they faded it all the way back to $21 then it gapped to
$40 next morning. I don’t think shorts are off the hook here yet. Just my .02

After hours should be interesting then.. Looking for a large spike after close today.

They're shorting, covering, shorting again, and covering again -- to shake this down.

Can only short but so much... Float is around 2 million shares...

Damn. They're shorting the hell out of this to keep it down.

Sure, I'll go for a ride...

Turning over in the $20 + range nicely……..

Elevator going up ?

All Aboard ?

$$ VRPX $$

100% complete BS!!!!! Sorry! lolzzzzzzzz

$VRPX: Get a good broker


Who's your broker ?


THey probably suck



GO $VRPX

They stopped it with the bs halt to save shorts..

I know of one reality, once I get out, I never get back in. Good luck though.

Reality here = only 2M Float, with this volume its going much higher.

2M Float should be locked by now, this runs to $50+

True

maybe higher, 2M Float is just crazy low.

$VRPX: Catch the next VRPX at $PMCB right now


NO SHARES TO SHORT !!!!!!!



And HALTED right now.


You know how this works :)



GO $VRPX & $PMCB

Weeeeeeeeeee hahaha

Volatility halt, should open around $35+

looks like its holding strong, with 2M Float this runs to $50+ today

Thank you Dino!
congratulation to you too.

Let's get to the next BIG one ;)

they have not seen anything yet.

20 is too low, 25 will be minimum, but it is possible 21-22 will be the bottom.

this may dip to $20 at the open, after that it runs to $50

Shorts got screwed overnight bigtime lol

Hahaha weeeeeeee they bought some of my shares at 36 lol

Who knows what it will do, in my honest opinion it is worth at least 40 dollars, that is just about it for now