Yahoo Finance Pain Management-Focused Penny Stock Virpax Pharmaceuticals Surges Over 100% On Wednesday-Here's Why?
Wednesday, Virpax Pharmaceuticals Inc (NASDAQ:VRPX) released results for a Swine Model pilot study for Probudur, Virpax’s long-acting liposomal bupivacaine formulation injected at a wound site to provide immediate and extended pain relief.
Shares are trading on a strong session volume of over 100 million, as per data from Benzinga Pro.
The pharmacokinetics (PK) and safety study of Probudur in the Swine Model was designed to determine the PK profile of Probudur and to ascertain any adverse effects on the pigs.
Probudur was subcutaneously injected into four juvenile domestic pigs at a dose of 30 mg/kg and was well-tolerated by all of the pigs and demonstrated a long-term, slow-release profile.
Histopathology was also conducted at the injection site, and Probudur was well-tolerated by all pigs in this study.
“Our study results to date for Probudur, as expected, have consistently been positive and support our belief that Probudur has the potential to provide both immediate relief as well as sustained relief at the wound site,” stated Gerald Bruce, CEO of Virpax Pharmaceuticals.
“With our agreement to negotiate additional funding from our new institutional investor and remaining necessary studies underway, we continue to target the end of the year for filing our Investigational New Drug Application (IND) for Probudur.”
Probudur is being developed to reduce or eliminate the need for opioids after surgery in approved indications.
Probudur is a local anesthetic that binds to the sodium channel, preventing pain signals from reaching the brain.
Probudur has shown long-duration pain control for at least 96 hours in preclinical studies. A rat incisional model demonstrated analgesia for up to five days, and in vitro studies showed a slow release of bupivacaine that lasted for up to six days.
Recently, the company closed a $2.5 million secured loan financing from an institutional investor, which enabled the final payment of its litigation settlement and reorganized and reduced to seven members from eight.
Price Action: VRPX shares are up 103.5% at $2.36 at last check Wednesday.
Photo via Shutterstock
"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article Pain Management-Focused Penny Stock Virpax Pharmaceuticals Surges Over 100% On Wednesday-Here's Why? originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
