(RTTNews) - Virpax Pharmaceuticals, Inc. (VRPX), a preclinical-stage pharmaceutical company, announced Tuesday the pricing of its public offering, raising approximately $6 million to fund its development of innovative pain management treatments.
The company is offering shares of its common stock and pre-funded warrants to purchase shares of common stock at a price of $0.19999 per share and $0.00001 per pre-funded warrant.
The proceeds will support ongoing development activities, including the initiation of clinical trials for its lead product candidate, Probudur, and efforts to advance its proprietary drug delivery systems.
Virpax Pharmaceuticals is focused on non-opioid, non-addictive treatments for pain management and central nervous system disorders, aiming to improve patients' quality of life.
The offering is expected to close on January 29, 2025, subject to customary closing conditions.
Currently, VRPX is trading at $0.26 down by 3.74%.
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