Why Is Virpax Pharmaceuticals Stock Gaining On Friday?

Virpax Pharmaceuticals, Inc. VRPX saw its shares rise on Friday in the premarket session.

Today, the company announced results from a Dose Range Finding (DRF) study for Probudur, its long-acting liposomal bupivacaine formulation.

The study, conducted in minipigs, demonstrated that Probudur was well-tolerated with no adverse effects, supporting its potential for both immediate and extended pain relief. The DRF study was conducted to evaluate the tolerance of Probudur in an incisional wound healing model in minipigs. Probudur was injected locally into the tissue surrounding the incision area.

“The completion of these studies brings us another step closer to filing our Investigational New Drug Application (IND) for Probudur,” stated Jatinder Dhaliwal, Chief Executive Officer of Virpax.

According to Benzinga Pro, VRPX stock has lost over 88% in the past year.

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Yesterday, the company announced the extension of its cooperative research and development agreement with the National Center for Advancing Translational Sciences (NCATS), part of the National Institutes of Health (NIH).

This collaboration will continue the development of Virpax’s promising product candidate, NES100, an intranasal peptide designed for the management of acute and chronic non-cancer pain.

NES100 is a novel enkephalin-based drug, utilizing advanced nanotechnology to enhance delivery into the brain.

Enkephalin, a naturally occurring peptide, has pain-relieving properties but is difficult to administer effectively in its original form. Virpax’s proprietary Molecular Envelope Technology (MET) protects and facilitates the drug’s delivery through the olfactory nerve pathway to the brain, where it targets delta opioid receptors to suppress pain.

Notably, NES100 has shown promise in animal models without the risks of opioid tolerance, withdrawal, or addiction.

Jatinder Dhaliwal, CEO of Virpax, emphasized that the collaboration will aid Virpax in advancing NES100 through preclinical and clinical stages, potentially offering a safer alternative to opioids for managing pain.

This development marks an important step in Virpax’s strategy to address pain management while mitigating opioid-related risks, Dhaliwal highlighted.

Price Action: VRPX shares are trading higher by 55.7% to $0.9181 premarket at last check Friday.

Image via Unsplash

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