Scilex and Sorrento settle with Virpax and its founder Anthony Mack [Seeking Alpha]
Virpax Pharmaceuticals, Inc. (VRPX)
Company Research
Source: Seeking Alpha
a dispute with their rival Virpax Pharmaceuticals ( NASDAQ: VRPX ) and its founder, Anthony Mack. Per the terms, the parties have agreed to form a definitive settlement agreement by or before March 1, 2024, to resolve the ongoing disputes, Scilex ( SCLX ) said in a press release late on Monday. According to the settlement term sheet, Virpax ( VRPX ) will be required to pay $6M by July 1, 2024, in addition to 6% royalties on annual net sales when its pain therapy candidates, Epoladerm and Envelta, reach the market. The settlement comes months after a Delaware court ruled in favor of Scilex ( SCLX ) and Sorrento ( OTC:SRNEQ ) in a lawsuit related to a breach of an agreement that included certain no-compete provisions laid out when Mack served as president of SCLX. In the lawsuit, the companies alleged that Virpax ( VRPX ) and its former CEO Mack, breached an agreement when the latter stepped down from SCLX in 2018 and founded Virpax ( VRPX Additionally, Berwyn, Pennsylvania-ba
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VRPX
News
- Virpax Pharmaceuticals Reports 2024 Second Quarter Results and Recent DevelopmentsBusiness Wire
- Virpax Pharmaceuticals to Present at Sidoti Virtual Investor Conference August 14-15 [Yahoo! Finance]Yahoo! Finance
- Virpax Pharmaceuticals to Present at Sidoti Virtual Investor Conference August 14-15Business Wire
- Virpax Regains Compliance with Nasdaq Minimum Bid PriceBusiness Wire
- Virpax Pharmaceuticals, Inc. (NASDAQ: VRPX) was upgraded by analysts at Maxim Group from a "hold" rating to a "buy" rating. They now have a $3.00 price target on the stock.MarketBeat
VRPX
Sec Filings
- 9/17/24 - Form 8-K
- 8/13/24 - Form S-1/A
- 8/13/24 - Form 8-K
- VRPX's page on the SEC website