Why Virpax Pharmaceuticals Shares Are Soaring Today

Virpax Pharmaceuticals Inc VRPX is surging higher Tuesday after the company announced that it received a written pre-investigational new drug response from the U.S. Food and Drug Administration for MMS019.

MMS019 is Virpax Pharmaceuticals patented and proprietary high-density molecular masking spray under development for use as an anti-viral barrier product.

The company said it believes the results of the pre-investigational new drug response support further research on MMS019 as an intranasal protective that may limit transmission of the viruses to others.

"We believe that the initial pathway to move forward with the development of MMS019 has been clarified. The pre-IND meeting provides an opportunity for open communication between the Sponsor and the FDA to discuss the IND development plan and to obtain the FDA’s guidance for clinical studies for the new drug candidate," said Anthony Mack, chairman and CEO of Virpax Pharmaceuticals.

Virpax Pharmaceuticals is a preclinical stage biopharmaceutical company focused on developing pharmaceutical product candidates for pain management.

Price Action: Virpax Pharmaceuticals is making a new 52-week high after being halted for volatility multiple times in trading today.

At last check Tuesday, the stock was up 219.90% at $13.39.