Small-cap Virpax (VRPX) Up 100% Today to Push Weekly Gains to Over 500% After Receiving FDA Guidance on SARS and Flu Treatment
Shares of Virpax Pharmaceuticals (NASDAQ: VRPX) are trading higher after the company said it received a guided response from the US Food and Drug Administration (FDA) concerning its treatment that protects against SARS and flu.
The FDA response brings clarity about MMS019, a masking spray developed as a once-daily treatment against SARS and influenza. As a result, the company will pursue a new drug application for MMS019.
“We are very pleased with the response from the FDA. We believe that the initial pathway to move forward with the development of MMS019 has been clarified,” said Anthony P. Mack, Chairman and CEO of Virpax.
“The pre-IND meeting provides an opportunity for open communication between the Sponsor and the FDA to discuss the IND development plan and to obtain the FDA’s guidance for clinical studies for the new drug candidate. As our development program proceeds, we will define the strategy for our drug-device combination product candidate, MMS019, for use in an over-the-counter setting as we look to support a consumer-friendly OTC indication.”
Shares of the company are trading over 100% higher today to cross the $30 mark after trading around $4.20 on Monday.