Virpax Pharmaceuticals, Inc., a Delaware-based company specializing in non-addictive pain management and other pharmaceuticals, reported its financial results for the second quarter ended June 30, 2024, on August 13, 2024. The company announced a decrease in general and administrative expenses to $1.5 million from $1.9 million in the same period the previous year, attributed to reduced severance and insurance expenses. Research and development expenses increased to $2.0 million, up from $1.3 million, mainly due to preclinical activities for their lead asset, Probudur. The operating loss for the quarter was $3.5 million, compared to $3.1 million in 2023. As of June 30, 2024, Virpax had cash reserves of approximately $1.9 million. The company also highlighted recent developments, including positive results from a pharmacokinetics and safety study for Probudur, securing $2.8 million from warrant exercises, and regaining compliance with Nasdaq's minimum bid price requirement. Additionally, Virpax completed a $2.5 million secured loan financing, which led to a reorganization of the company's Board of Directors and the repayment of litigation settlement liabilities.

Virpax Pharmaceuticals, Inc., a Delaware-based company specializing in non-addictive pain management and other pharmaceuticals, reported its financial results for the second quarter ended June 30, 2024, on August 13, 2024. The company announced a decrease in general and administrative expenses to $1.5 million from $1.9 million in the same period the previous year, attributed to reduced severance and insurance expenses. Research and development expenses increased to $2.0 million, up from $1.3 million, mainly due to preclinical activities for their lead asset, Probudur. The operating loss for the quarter was $3.5 million, compared to $3.1 million in 2023. As of June 30, 2024, Virpax had cash reserves of approximately $1.9 million. The company also highlighted recent developments, including positive results from a pharmacokinetics and safety study for Probudur, securing $2.8 million from warrant exercises, and regaining compliance with Nasdaq's minimum bid price requirement. Additionally, Virpax completed a $2.5 million secured loan financing, which led to a reorganization of the company's Board of Directors and the repayment of litigation settlement liabilities.