Virpax Pharmaceuticals Announces Proposed Settlement of Litigation with Sorrento Therapeutics, Inc. and Scilex Pharmaceuticals, Inc.
Virpax Pharmaceuticals, Inc. (VRPX)
Company Research
Source: Business Wire
BERWYN, Pa.--(BUSINESS WIRE)--Virpax® Pharmaceuticals, Inc. (“Virpax” or the “Company”) (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and anti-viral barrier indications, today announced that it has entered into a term sheet to settle the litigation with the Company and Sorrento Therapeutics, Inc. (Sorrento) and Scilex Pharmaceuticals, Inc. (Scilex and Sorento, collectively, the “Plaintiffs”). The term sheet sets forth the principal terms of a mutual release and settlement agreement to be entered into by the Company and the Plaintiffs. However, if the parties fail to do so by or before March 1, 2024, the term sheet will become binding.As part of the settlement, the parties have agreed to a cash payment from Virpax to the Plaintiffs of $3.5 million by March 1, 2024, and $2.5 million by July 1, 2024, to settle all claims against Virpax. Additionally, Virpax will p
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VRPX
News
- Virpax Announces Results of Maximum Tolerated Dose Study for Probudur™Business Wire
- Virpax Pharmaceuticals Reports 2023 Year-End Results [Yahoo! Finance]Yahoo! Finance
- Virpax Pharmaceuticals Reports 2023 Year-End ResultsBusiness Wire
- Scilex Holding Company's Wholly Owned Subsidiary, Scilex Pharmaceuticals Inc., Entered into a Definitive Mutual Release and Settlement Agreement with Virpax Pharmaceuticals, Inc. Relating to the Previously Announced Term Sheet with Virpax in Respect of SAcquire Media Monitor
- Scilex and Sorrento settle with Virpax and its founder Anthony Mack [Seeking Alpha]Seeking Alpha
VRPX
Sec Filings
- 5/2/24 - Form S-1/A
- 4/30/24 - Form 8-K
- 4/26/24 - Form S-1/A
- VRPX's page on the SEC website