---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-018995"
form_type: "8-K"
ticker: null
cik: "0001708331"
company_name: "Virpax Pharmaceuticals, Inc."
filed_at: "2024-03-01T23:59:59+00:00"
generated_at: "2026-06-05T05:37:23.323553+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Virpax settles litigation for $6M + royalties; effects 1-for-10 reverse split to regain Nasdaq compliance

## Summary
- Settlement with Sorrento/Scilex: Virpax pays $6M total ($3.5M upon effective date + $2.5M by July 1, 2024) plus 6% royalties on net sales of three product candidates.
- Agreement subject to Bankruptcy Court approval; terminates if settlement order not entered by April 1, 2024.
- 1-for-10 reverse stock split effective March 1, 2024, reducing outstanding shares from ~11.7M to ~1.2M.
- Reverse split intended to regain Nasdaq minimum bid price compliance; trading symbol VRPX unchanged.

## SEC filing metadata
- accession: 0001213900-24-018995
- form_type: 8-K
- cik: 0001708331
- company_name: Virpax Pharmaceuticals, Inc.
- filed_at: 2024-03-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1708331/000121390024018995/0001213900-24-018995-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1708331/000121390024018995/ea0201008-8k_virpaxphrm.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-018995
- JSON: https://secwatch.observer/filing/0001213900-24-018995.json
- Plain text: https://secwatch.observer/filing/0001213900-24-018995.txt

## Key facts
- Governance Changes
  Virpax Pharmaceuticals, Inc.: Amended certificate of incorporation to effect a 1-for-10 reverse stock split (effective 2024-03-01).
  - Change: charter amendment
  - Effective: 2024-03-01
  source text: on February 29, 2024, the Company filed a Certificate of Amendment to the Amended and Restated Certificate of Incorporation (the "Amendment") with the Secretary of State of the State of Delaware to effect the reverse stock split, with an effective time (the "Effective Time") of 12:01 a.m. Eastern Time on March 1, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708331/000121390024018995/0001213900-24-018995-index.htm
- Material Agreements
  Virpax Pharmaceuticals, Inc. entered into Settlement Agreement and Mutual Release with Sorrento Therapeutics, Inc. and Scilex Pharmaceuticals Inc. valued at $6 million (effective 2024-02-29).
  - Action: entry
  - Agreement: settlement
  - Counterparty: Sorrento Therapeutics, Inc. and Scilex Pharmaceuticals Inc.
  - Value: $6 million
  - Effective: 2024-02-29
  source text: On February 29, 2024, Virpax Pharmaceuticals, Inc. ( the “Company”) and Sorrento Therapeutics, Inc. (“Sorrento”) and Scilex Pharmaceuticals Inc. (“Scilex”) executed a Settlement Agreement and Mutual Release (the “Agreement”) to fully resolve all issues related to the litigation between the Company (a defendant) and Sorrento and Scilex (collectively, referred to as the “Plaintiffs”) captioned Sorrento Therapeutics, Inc. and Scilex Pharmaceuticals Inc. v. Anthony Mack and Virpax Pharmaceuticals, Inc ., Case No. 2021-0210-PAF (the “Action”), all subject to the entry by the United States Bankruptcy Court for the Southern District of Texas, which is handling the Sorrento bankruptcy filing (the “Bankruptcy Court”), of an order approving the Agreement (the “Settlement Order”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708331/000121390024018995/0001213900-24-018995-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.