Pain Management-Focused Penny Stock Virpax Pharmaceuticals Surges Over 100% On Wednesday-Here’s Why?

Virpax Pharmaceuticals Inc (NASDAQ:VRPX) saw a surge of over 100% on Wednesday following the release of results for a Swine Model pilot study for Probudur, their long-acting liposomal bupivacaine formulation. The study showed that Probudur provided immediate and extended pain relief when injected at a wound site.

The study involved injecting Probudur into juvenile domestic pigs, which was well-tolerated and demonstrated a long-term, slow-release profile. Histopathology conducted at the injection site also showed positive results.

Virpax Pharmaceuticals CEO, Gerald Bruce, expressed confidence in the study results and stated that Probudur has the potential to provide both immediate and sustained relief at the wound site. The company is aiming to file an Investigational New Drug Application (IND) for Probudur by the end of the year.

Probudur is being developed to reduce or eliminate the need for opioids after surgery by binding to sodium channels and preventing pain signals from reaching the brain. Preclinical studies have shown long-duration pain control for up to 96 hours.

In addition to the positive study results, Virpax Pharmaceuticals recently secured a $2.5 million financing from an institutional investor. This allowed the company to make final payments for litigation settlements and reorganize its board.

As a result of these developments, VRPX shares saw a significant increase of 103.5% to $2.36 on Wednesday. Virpax Pharmaceuticals continues to make strides in the pain management space, with promising results for Probudur.