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BERWYN, Penn. - Virpax Pharmaceuticals, Inc. (NASDAQ:VRPX), a biopharmaceutical company focused on non-addictive pain management solutions, announced today that it has observed positive tolerance results in a beagle dog dose range finding study for its Probudur drug, a long-acting pain relief formulation. The company, currently valued at $3.43 million, maintains a strong balance sheet with more cash than debt, according to InvestingPro data.
The study aimed to assess the tolerance levels of beagle dogs to Probudur when administered via subcutaneous injection in escalating doses. The findings indicated that all dogs tolerated doses of LBL100 up to 90 mg/kg without adverse effects.
Probudur is a liposomal bupivacaine formulation designed to provide immediate and extended pain relief when injected at a wound site. This local anesthetic works by binding to sodium channels, blocking pain signals from reaching the brain. Preclinical studies have suggested that Probudur could control pain for at least 96 hours, with potential analgesic effects lasting up to five days in a rat incisional model and a slow release of bupivacaine observed in vitro for up to six days.
The successful completion of the dose range finding study represents a significant step toward the company’s goal of submitting an Investigational New Drug (IND) application. Virpax’s broader objective with Probudur is to offer effective perioperative pain control and substantially reduce or eliminate the need for opioids post-surgery for approved indications.
Virpax Pharmaceuticals continues to develop its portfolio of branded, non-addictive pain management products utilizing proprietary drug delivery technologies. In addition to Probudur, the company is also working on Envelta for acute and chronic pain management and NobrXiol for rare pediatric epilepsy. Virpax has established cooperative research and development agreements with the National Institutes of Health and the Department of Defense for two of its prescription drug candidates. Despite its promising pipeline, InvestingPro analysis shows the company faces near-term challenges with a current ratio of 0.63, indicating potential liquidity constraints. Subscribers can access 10+ additional InvestingPro Tips for comprehensive analysis.
The information in this article is based on a press release statement from Virpax Pharmaceuticals, Inc. Investors are advised that forward-looking statements involve risks and uncertainties and are cautioned not to place undue reliance on such statements, which speak only as of their dates. The stock has experienced significant pressure, down 55.51% year-to-date and trading near its 52-week low. For deeper insights into Virpax’s financial health and growth prospects, explore InvestingPro’s comprehensive analysis tools and real-time metrics.
In other recent news, Virpax Pharmaceuticals reported positive results from a study in collaboration with the U.S. Army Institute of Surgical Research. The study assessed Probudur, a liposomal bupivacaine formulation, for post-operative pain management, showing effectiveness in reducing pain behaviors in a rat model without the use of opioids. Additionally, Virpax announced the pricing of its public offering at $0.20 per share, with proceeds intended for developing Probudur and other corporate purposes. The offering is expected to close on January 29, 2025, with Spartan Capital Securities, LLC acting as the exclusive placement agent.
In another development, Virpax acknowledged Nanomerics’ completion of a study using their Molecular Envelope Technology (MET), which showed no moderate to severe adverse events. This technology is utilized in Virpax’s products Envelta and NobrXiol, aimed at treating pain and epilepsy, respectively. Furthermore, Virpax appointed Mr. Charn Deol as an independent director, filling the vacancy left by Jaydriane Panis, who resigned due to compliance requirements with his current employer. Mr. Deol brings over 35 years of public company management experience and will serve as the Chair of the Audit Committee.
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