Summary by Futu AI
Virpax Pharmaceuticals, Inc. (Virpax), a preclinical-stage pharmaceutical company, has filed an amendment to its registration statement with the Securities and Exchange Commission (SEC) on October 18, 2024. The amendment pertains to the offering of up to 8,650,520 shares of common stock, alongside an equal number of pre-funded warrants to purchase common stock, and the shares issuable upon the exercise of such pre-funded warrants. The offering is being conducted on a best-efforts basis by Spartan Capital Securities, LLC, which is acting as the exclusive placement agent. The offering is intended for sophisticated investors and is not being made to the general public. Virpax has indicated that the net proceeds from the offering will be used to fund ongoing development activities, including the clinical trial for Probudur, as well as for working capital and other general corporate purposes. The company's common stock is listed on the Nasdaq Capital Market under the symbol 'VRPX'.