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BERWYN, Pa., January 30, 2025--(BUSINESS WIRE)--Virpax Pharmaceuticals, Inc. (Nasdaq: VRPX) ("Virpax" or the "Company"), a preclinical-stage pharmaceutical company focused in novel and proprietary drug delivery systems across various pain indications, announced today the closing of its public offering of $6.0 million of shares of the Company’s common stock, par value $0.00001 per share, and pre-funded warrants to purchase shares of common stock at a public offering price of $0.20 per share (minus $0.00001 per pre-funded warrant). The Company intends to use the proceeds of the offering to fund its ongoing development activities for commencing clinical trial for its product candidate Probudur, marketing and advertising services to communicate information about the Company to the financial community, as well as for working capital and other general corporate purposes.
Spartan Capital Securities, LLC is acting as the exclusive placement agent in connection with the offering.
The securities described above are being offered pursuant to the Company’s registration statement on Form S-1, as amended (File No. 333-284089) (the "Registration Statement"), initially filed with the Securities and Exchange Commission (the "SEC") on July 29, 2024, as amended on January 15, 2025 and January 17, 2025, and declared effective by the SEC on January 27, 2025. The offering is being made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at https://www.sec.gov/. Copies of the final prospectus relating to this offering may be obtained from Spartan Capital Securities, LLC, at 45 Broadway, 19th Floor, New York, NY 10006.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Virpax
Virpax Pharmaceuticals, Inc. is a preclinical-stage pharmaceutical company focused on developing novel and proprietary drug delivery systems across various pain indications in order to enhance compliance and optimize each product candidate in our pipeline. Our drug-delivery systems and drug-releasing technologies being developed are focused on advancing non-opioid and non-addictive pain management treatments and treatments for central nervous system disorders to enhance patients’ quality of life. For more information, please visit https://www.virpaxpharma.com.