Virpax FY2023 operating loss narrows to $15.2M; cash at $9.1M

Virpax Pharmaceuticals, Inc.

Operating loss of $15.2M vs $21.7M in 2022; R&D expenses halved to $5.1M.
Cash and cash equivalents $9.1M at Dec 31, 2023, down from $19.0M a year earlier.
Regained Nasdaq compliance on March 18, 2024, after 1-for-10 reverse stock split effective March 1.
Litigation settlement with Sorrento/Scilex approved by bankruptcy court; initial payment made March 18, 2024.
CEO change: Anthony Mack resigned Nov 17, 2023; Gerald Bruce appointed CEO and Eric Floyd Chairman.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Virpax Pharmaceuticals, Inc. reported financial results for twelve months ended December 31, 2023.

Period: twelve months ended December 31, 2023
Result: reported results

Exact text from the filing

On March 26, 2024, Virpax Pharmaceuticals, Inc., a Delaware corporation (the “Registrant”), issued a press release that included financial information for its fiscal year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001213900-24-025754

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