Virpax Pharmaceuticals to be delisted from Nasdaq

BERWYN, PA – Virpax Pharmaceuticals Inc . (NASDAQ:VRPX), a pharmaceutical company specializing in pharmaceutical preparations with a market capitalization of just $1.18 million, is set to be delisted from The Nasdaq Capital Market following its failure to meet the minimum stockholders’ equity requirement. According to InvestingPro data, the company’s financial health score stands at a concerning 1.35 out of 10, indicating significant operational challenges. The Nasdaq Hearings Panel determined the delisting action after the company did not regain compliance with Nasdaq Listing Rule 5550(b)(1).

Trading of the company’s common stock on Nasdaq will halt from the start of business on Friday, April 4, 2025. The delisting process will be finalized upon the filing of a Form 25 Notification of Delisting with the Securities and Exchange Commission (SEC) after the appeal period has expired. Virpax Pharmaceuticals has indicated that it will not appeal the Panel’s decision.

In a separate but contemporaneous development, Virpax Pharmaceuticals announced the immediate resignation of three board members, Esha Randhawa, Charn Deol, and Judy Su, on April 2, 2025. Additionally, Usama Chaudhry stepped down from his role as Chief Financial Officer. According to the company, these resignations were not due to any disagreements on company operations, policies, or practices.

The company has expressed gratitude to the departing members for their contributions and service. No further details regarding replacements or the company’s future plans in response to these departures were disclosed in the press release statement. The departures come at a critical time when the company faces significant financial pressures, with InvestingPro analysis showing a current ratio of 0.63, indicating that short-term obligations exceed liquid assets.

This news comes as a significant corporate restructuring for Virpax Pharmaceuticals, incorporated in Delaware and headquartered in Berwyn, PA. The company’s fiscal year-end is on December 31.

Investors and stakeholders of Virpax Pharmaceuticals are now watching closely as the company navigates these changes and the implications of the Nasdaq delisting. The stock has experienced a dramatic decline, falling 98.83% over the past year and currently trading near its 52-week low of $1.08. The information in this article is based on the latest 8-K filing by Virpax Pharmaceuticals with the SEC and financial metrics from InvestingPro, which offers 11 additional key insights about the company’s financial situation.

In other recent news, Virpax Pharmaceuticals, Inc. has implemented a 1-for-25 reverse stock split, reducing its outstanding shares from approximately 31.1 million to about 1.24 million. This strategic move was authorized by the company’s board and stockholders to comply with Nasdaq’s minimum bid price requirement and potentially attract more investors. The company’s common stock continues to trade under the ticker VRPX with a new CUSIP number. Additionally, Virpax has reported positive results from a Probudur study involving beagle dogs, where the drug showed good tolerance at high doses. This study is part of the company’s efforts to develop Probudur, a non-addictive pain management solution, and represents progress toward submitting an Investigational New Drug application. Virpax is also collaborating with the U.S. Army Institute of Surgical Research on Probudur, showing promising results in controlling post-operative pain in a rat model. Furthermore, the company acknowledged Nanomerics’ successful human study of Molecular Envelope Technology, used in Virpax’s Envelta and NobrXiol products, which reported no moderate to severe adverse events. These developments highlight Virpax Pharmaceuticals’ ongoing efforts to advance its portfolio of non-addictive pain management and therapeutic products.

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