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Virpax Pharmaceuticals shares double after FDA’s positive response to anti-viral masking spray

PUBLISHED ON 2021-08-19 02:29:00 EST Yashasvini

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Virpax Pharmaceuticals’ shares doubled to $30.56, a day after the company said it received a written pre-investigational new drug response from the U.S. Food and Drug Administration (FDA) for its high-density molecular masking spray, MMS019. The product is under development to be used as an anti-viral barrier product.

The stock closed Tuesday's session up 265.48%, going from a previous close of $4.20 to $15.35. On Wednesday, its volume went up to 17 million shares at 9:55 a.m. ET, compared to its 65-day average volume of 4.8 million shares.

Virpax has completed in-vitro, ex-vivo, and in-vivo trials for MMS019. It has demonstrated inhibition of viral replication of SARS-CoV-2 and influenza in animals at much higher ranges than what is encountered by humans in the nasal passages. No adverse effects were observed during the studies.

Virpax believes the results of the pre-IND response support further research on MMS019 as an intranasal protective that may limit transmission of the viruses to others. Virpax will be pursuing a New Drug Application (NDA), with the Office of Non-Prescription Drugs, for MMS019 as a once-daily intranasal treatment.

Syneos Health is assisting Virpax with the clinical trial designs.

Virpax’s shares closed at $22.90 on Tuesday, jumping up by 49.19%.

(With inputs from Pulse 2.0)

Picture Credits: Own Snap

 

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