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A Sneak Peek At Virpax Pharma

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Shares of Virpax Pharmaceuticals Inc. (VRPX) are down more than 80% from their high of $36, recorded in August of this year, and trade around $4.

The company is developing product candidates for pain management, neurological conditions, and viral infections.

The lead product candidate is Envelta, an endogenous enkephalin intranasal spray for acute and chronic pain. It is under IND-enabling studies that are being conducted in partnership with the National Institutes of Health (NIH).

In animal studies, Envelta has demonstrated analgesic potential without developing opioid tolerance, withdrawal, respiratory depression, euphoria, or addiction associated with the use of opioids, according to the company.

The IND-enabling studies are intended to support Virpax's future application for clearance from the FDA to initiate its first-in-human clinical trials.

The other investigational products in the pipeline are Epoladerm, Probudur, AnQlar, and VRP324.

-- Epoladerm is a topical diclofenac metered-dose spray film formulation being developed to manage acute musculoskeletal pain and osteoarthritis.

Following pre-IND Review, the FDA has indicated that is reasonable for the company to pursue 505(b)(2) accelerated New Drug Application for pain associated with osteoarthritis of the knee.

-- Probudur is a single injection liposomal bupivacaine formulation being developed to manage postoperative pain, and is currently under IND-enabling studies.

-- AnQlar is being developed by Virpax as a daily over-the-counter (OTC) prophylactic product for treatment against SARS and influenza.

Last month, the company signed an agreement with Sinclair Research, a provider of nonclinical research services, to initiate preclinical studies of AnQlar. The studies are expected to begin in January of 2022.

-- VRP324 is a drug product candidate based on nanotechnology which enables the delivery of a cannabidiol (CBD) into the brain via intranasal delivery for the management of epilepsy in adults and children.

The company acquired the exclusive worldwide rights from Nanomerics Ltd. to use its molecular envelope platform technology (MET) for the nasal delivery of a cannabidiol (CBD) for the management of epilepsy in adults and children as recently as September. Nanomerics has initiated preclinical studies of VRP324.

Cash position:

The company's cash on hand totaled $41.7 million as of September 30, 2021.

Virpax went public on the Nasdaq Capital Market on February 17, 2021, pricing its shares at $10 each. The stock has thus far hit a low of $3.70 and a high of $36.00. In premarket trading Wednesday, the stock is at $4.20, down 1.64%.

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