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VRPX

Virpax Pharmaceuticals, Inc.

VRPX

Virpax Pharmaceuticals, Inc. • NASDAQ
$0.02 ▲ 0.00% (+0.00)
Market Cap $26093
52w High $12.88
52w Low $0.01
Dividend Yield 0%
P/E 0
Volume 51
Outstanding Shares 1.24M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $0 $3.395M ▲ $-3.39M ▼ 0% $-0.8 ▼ $-3.39M ▼
Q3-2024 $0 $1.924M ▼ $-2.006M ▲ 0% $-0.43 ▲ $-1.903M ▲
Q2-2024 $0 $3.458M ▲ $-3.45M ▼ 0% $-1.75 ▲ $-3.458M ▼
Q1-2024 $0 $3.302M ▼ $-3.22M ▲ 0% $-2.75 ▲ $0 ▲
Q4-2023 $0 $4.684M $-4.562M 0% $-3.89 $-4.562M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $1.513M ▲ $1.556M ▲ $2.469M ▲ $-913.76K ▲
Q3-2024 $17.229K ▼ $304.162K ▼ $2.356M ▼ $-2.052M ▲
Q2-2024 $1.871M ▲ $2.591M ▼ $5.385M ▲ $-2.794M ▼
Q1-2024 $1.866M ▼ $3.13M ▼ $4.344M ▼ $-1.213M ▼
Q4-2023 $9.142M $9.628M $7.694M $1.934M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $-3.39M ▼ $-2.871M ▲ $0 $4.367M ▲ $1.496M ▲ $-2.871M ▲
Q3-2024 $-2.006M ▲ $-4.469M ▼ $0 $2.616M ▲ $-1.853M ▼ $-4.469M ▼
Q2-2024 $-3.45M ▼ $-1.644M ▲ $0 $1.648M ▲ $4.598K ▲ $-1.644M ▲
Q1-2024 $-3.22M ▲ $-7.729M ▼ $0 $453.951K ▲ $-7.275M ▼ $-7.729M ▼
Q4-2023 $-4.562M $-3.011M $0 $0 $-3.011M $-3.011M

Five-Year Company Overview

Income Statement

Income Statement Virpax is still a pure development-stage company, with no product sales and therefore no revenue so far. The income statement is driven entirely by research, development, and overhead costs, which translate into ongoing net losses each year. The most recent year shows a sharp step-up in losses compared with prior years, indicating heavier spending or one‑time charges without any offsetting income. Per‑share loss figures look extreme, but they are heavily distorted by recent reverse stock splits and don’t by themselves reflect a change in the underlying business model, just in the share count. Overall, this is a classic early‑stage biotech profile: all cost, no revenue yet, and highly dependent on future clinical and partnering success to change that picture.

Balance Sheet

Balance Sheet The balance sheet is very light, with only a small base of total assets and essentially no debt. Cash that was modest in prior years appears to have been largely drawn down in the latest period, suggesting that available financial resources are tight. Equity has turned negative most recently, which means the company’s obligations are now larger than its recorded assets, a sign of financial strain and limited cushion. In practical terms, Virpax’s balance sheet underscores a dependency on continued external funding—through equity offerings, grants, or partnerships—to support operations and development plans.

Cash Flow

Cash Flow Cash flows reflect a company that is spending on development but not bringing in operating cash. Operating cash outflows have grown materially in the latest year compared with the very small amounts in earlier years, meaning the cash burn has accelerated as programs advance. Free cash flow tracks operating cash flow closely because capital spending is negligible, so nearly all cash out the door is tied to running and advancing the pipeline. Without revenue or large upfront license payments, Virpax will likely need to keep raising capital or securing non‑dilutive funding to sustain this level of spending.

Competitive Edge

Competitive Edge Virpax operates in a highly competitive corner of biotech—pain and central nervous system disorders—where many players, including large pharmaceutical companies, are chasing non‑addictive pain treatments and better delivery systems. Its differentiators are its delivery platforms (MET and liposomal technologies), its focus on non‑opioid and non‑addictive approaches, and collaborative ties with U.S. government entities like NIH and the Department of Defense. These elements create a degree of strategic differentiation and external validation, but they do not yet translate into commercial strength because there are no approved products or market share. Against much larger, better‑funded competitors, Virpax’s position will depend on generating strong clinical data, securing partnerships, and maintaining funding rather than on scale or current brand recognition.

Innovation and R&D

Innovation and R&D Innovation is the central asset here. Virpax is building on two main technology platforms: a nanotechnology‑based intranasal delivery system (MET) aimed at getting drugs efficiently into the brain, and a long‑acting liposomal system designed to extend pain relief at the site of action. On top of these, the company has assembled a broad early‑stage pipeline across post‑operative pain, chronic and acute pain, rare pediatric epilepsy, PTSD, respiratory viral protection, and osteoarthritis pain. Government research collaborations and grants add credibility and resources, particularly for Probudur and Envelta. However, most programs are still preclinical or at very early stages, so none of the scientific promise has been tested in large, late‑stage trials yet. The key watchpoints are regulatory filings to start human trials, early clinical readouts, and any licensing or co‑development deals that might validate both the science and the commercial potential.

Summary

Virpax is a very early‑stage biotech: scientifically ambitious but financially fragile. The company has no revenue, persistent and recently larger losses, a thin asset base, and negative equity, all pointing to a strong reliance on ongoing external financing. At the same time, it has a differentiated story centered on non‑addictive pain and CNS treatments, proprietary delivery technologies, and notable government collaborations, plus a broad pipeline touching several high‑need therapeutic areas. The combination of scientific upside and weak financial footing makes outcomes highly uncertain; progress will hinge on successful early clinical milestones, continued access to capital, and the ability to secure supportive partnerships or non‑dilutive funding. Overall, this is a classic high‑risk, high‑uncertainty biotech profile where the long‑term picture depends almost entirely on future trial results and financing conditions rather than on current financial performance.