Virpax's stock rockets nearly 5-fold in 2 days after upbeat FDA response to its SARS-CoV-2 inhibitor

Shares of Virpax Pharmaceuticals Inc. VRPX, +57.79% rocketed for a 2nd consecutive time connected dense volume, aft the institution announced an upbeat pre-investigational caller cause effect from the Food and Drug Administration connected its merchandise to inhibit SARS-CoV-2 and the flu. The banal changeable up 53.6% successful greeting trading, aft soaring 265.5% connected Tuesday, to people a two-day summation of 461.4%. Trading measurement was 28.0 cardinal shares aboriginal Wednesday, aft a grounds full of 165.9 cardinal shares connected Tuesday, compared with the full-day mean implicit the past 30 days of 9.7 cardinal shares. Before Tuesday's open, Virpax said the FDA indicated it whitethorn prosecute a New Drug Application (NDA) for MMS019, arsenic a erstwhile regular intranasal treatment. MMS019 is Virpax's "high-density molecular masking spray nether improvement for the usage arsenic an anti-viral obstruction product." The institution said MMS019 has shown to inhibit viral replication of SARS-CoV-2 and flue successful animals, adjacent astatine overmuch higher ranges that what is encountered successful humans successful the nasal passages, with nary adverse effects. The stock, which started trading successful February, arsenic present tally up 484.2% implicit the past 3 months, portion the S&P 500 SPX, -0.05% has gained 7.8%.