2022 Q3 Form 10-Q Financial Statement
#000121390022048047 Filed on August 15, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $4.910M | $2.646M | $1.782M |
YoY Change | 216.46% | 33.01% | 40.35% |
% of Gross Profit | |||
Research & Development | $2.805M | $3.258M | $3.341M |
YoY Change | 601.28% | 929.32% | 209.39% |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $7.715M | $5.904M | $5.124M |
YoY Change | 1828.79% | 156.08% | 118.03% |
Operating Profit | -$7.715M | -$5.904M | -$5.124M |
YoY Change | 137.41% | 156.08% | |
Interest Expense | $0.00 | ||
YoY Change | -100.0% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $73.25K | $19.37K | -$13.18K |
YoY Change | 16.42% | -605.74% | |
Pretax Income | -$7.642M | -$5.885M | -$5.137M |
YoY Change | 137.64% | 151.12% | 115.84% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$7.642M | -$5.885M | -$5.137M |
YoY Change | 137.64% | 151.12% | 115.91% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.65 | -$0.50 | -$0.44 |
Diluted Earnings Per Share | -$0.65 | -$0.50 | -$438.7K |
COMMON SHARES | |||
Basic Shares Outstanding | 11.71M shares | 11.71M shares | 11.71M shares |
Diluted Shares Outstanding | 11.71M shares | 11.71M shares | 11.71M shares |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $20.56M | $26.06M | $30.80M |
YoY Change | -50.71% | 148.99% | 151.2% |
Cash & Equivalents | $20.56M | $26.06M | $30.80M |
Short-Term Investments | |||
Other Short-Term Assets | $3.073M | $3.341M | $3.949M |
YoY Change | 97.05% | 262.82% | 311.34% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $23.64M | $29.40M | $34.75M |
YoY Change | -45.38% | 158.19% | 162.83% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $23.64M | $29.40M | $34.75M |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $23.64M | $29.40M | $34.75M |
YoY Change | -45.38% | 158.19% | 162.83% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.000M | ||
YoY Change | |||
Accrued Expenses | $311.2K | $235.6K | $155.9K |
YoY Change | -19.15% | -40.03% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $4.208M | $2.483M | $2.187M |
YoY Change | 132.25% | -12.26% | -17.16% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.208M | $2.483M | $2.187M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $4.208M | $2.483M | $2.187M |
YoY Change | 132.25% | -35.53% | -40.25% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$41.37M | -$33.73M | |
YoY Change | |||
Common Stock | $117.00 | $117.00 | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $19.43M | $26.92M | $32.56M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $23.64M | $29.40M | $34.75M |
YoY Change | -45.38% | 158.19% | 162.83% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$7.642M | -$5.885M | -$5.137M |
YoY Change | 137.64% | 151.12% | 115.91% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$5.499M | -$4.736M | -$6.045M |
YoY Change | 15.94% | 163.44% | 96.26% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 0.000 | |
YoY Change | -100.0% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -5.499M | -4.736M | -6.045M |
Cash From Investing Activities | |||
Cash From Financing Activities | 0.000 | 0.000 | |
Net Change In Cash | -5.499M | -4.736M | $0.00 |
YoY Change | -117.6% | 163.4% | -100.0% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$5.499M | -$4.736M | -$6.045M |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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Document Type
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|
10-Q | ||
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2022-06-30 | ||
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2022 | ||
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false | ||
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001-40064 | ||
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VIRPAX PHARMACEUTICALS, INC. | ||
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727-4597 | ||
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Common Stock, $0.00001 Par Value Per Share | ||
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VRPX | ||
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NASDAQ | ||
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DE | ||
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82-1510982 | ||
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1055 Westlakes Drive | ||
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Suite 300 | ||
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Berwyn | ||
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PA | ||
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19312 | ||
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(610) | ||
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UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b> — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the financial statements, actual results may materially vary from these estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Significant items subject to such estimates and assumptions include research and development accruals and prepaid expenses, and the valuation of stock-based compensation. Future events and their effects cannot be predicted with certainty; accordingly, accounting estimates require the exercise of judgment. Accounting estimates used in the preparation of these financial statements change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | ||
us-gaap |
Dividends Cash
DividendsCash
|
26061135 | usd | |
CY2021 | us-gaap |
Dividends Cash
DividendsCash
|
36841992 | usd |
CY2021Q4 | vrpx |
Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
|
930561 | usd |
vrpx |
Tax Benefit
TaxBenefit
|
0.50 | pure | |
CY2022Q2 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
750630 | usd |
CY2021Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
152801 | usd |
us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
2550472 | usd | |
CY2021 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
2466140 | usd |
CY2022Q2 | vrpx |
Legal Retainer
LegalRetainer
|
3050 | usd |
CY2021Q4 | vrpx |
Legal Retainer
LegalRetainer
|
103050 | usd |
CY2022Q2 | vrpx |
Consulting Fees
ConsultingFees
|
4177 | usd |
CY2021Q4 | vrpx |
Consulting Fees
ConsultingFees
|
8453 | usd |
CY2022Q2 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
32978 | usd |
CY2022Q2 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
3341307 | usd |
CY2021Q4 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
2730444 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
691311 | usd | |
us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
383454 | usd | |
us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
672877 | usd | |
CY2022Q2 | vrpx |
Accrued Payroll
AccruedPayroll
|
235612 | usd |
CY2021Q4 | vrpx |
Accrued Payroll
AccruedPayroll
|
627281 | usd |
CY2022Q2 | vrpx |
Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
|
862602 | usd |
CY2022Q2 | vrpx |
Insurance Premiums
InsurancePremiums
|
-482048 | usd |
CY2022Q2 | vrpx |
Accrued Liabilities Legal Expenses
AccruedLiabilitiesLegalExpenses
|
842722 | usd |
dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
CY2021Q4 | vrpx |
Accrued Liabilities Legal Expenses
AccruedLiabilitiesLegalExpenses
|
510008 | usd |
CY2022Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
27633 | usd |
CY2022Q2 | vrpx |
Accrued Accounting Consulting Fees
AccruedAccountingConsultingFees
|
4517 | usd |
CY2021Q4 | vrpx |
Accrued Accounting Consulting Fees
AccruedAccountingConsultingFees
|
4166 | usd |
CY2022Q2 | vrpx |
Accrued Tax Expenses
AccruedTaxExpenses
|
8000 | usd |
CY2021Q4 | vrpx |
Accrued Tax Expenses
AccruedTaxExpenses
|
8000 | usd |
CY2022Q2 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
20239 | usd |
CY2021Q4 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
7675 | usd |
CY2022Q2 | vrpx |
Account Payable And Accrued Liabilities Current
AccountPayableAndAccruedLiabilitiesCurrent
|
2483373 | usd |
CY2021Q4 | vrpx |
Account Payable And Accrued Liabilities Current
AccountPayableAndAccruedLiabilitiesCurrent
|
2087691 | usd |
CY2022Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2022Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.00001 | |
CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2022Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
vrpx |
Warrants To Purchase Common Shares
WarrantsToPurchaseCommonShares
|
90000 | shares | |
CY2022Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
12.5 | |
vrpx |
Initial Public Offering Percentage
InitialPublicOfferingPercentage
|
1.25 | pure | |
vrpx |
Number Of Complex And Subjective Variables
NumberOfComplexAndSubjectiveVariables
|
P5Y | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
1 | pure | |
vrpx |
Share Based Compensation Arrangement By Share Based Payments Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentsAwardFairValueAssumptionsRiskFreeInterestRate
|
0.006 | pure | |
CY2022Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
18436 | shares |
vrpx |
Restricted Stock Awards Description
RestrictedStockAwardsDescription
|
there were 1,185 and 6,196 of unvested restricted stock awards issued totaling $11,718 and $39,862, respectively, based on a fair value of the Company’s common stock on the respective date of grant.During the three months ended June 30, 2022 and 2021, there were 0 and 15,000 restricted stock awards granted during the periods, respectively, and 160 shares of restricted stock awards were forfeited during both the three and six months ended June 30, 2022. The Company recognized $6,132 and $20,568 of stock based compensation for vested restricted shares during the three months ended June 30, 2022 and June 30, 2021, respectively. In addition, during the six months ended June 30, 2022 and 2021, there were 0 and 15,000 restricted stock awards granted during the periods, respectively, and 320 of restricted stock awards forfeited during the six months ended June 30, 2022. The Company recognized $28,144 and $34,629 of stock based compensation for vested restricted shares during the six months ended June 30, 2022 and June 30, 2021, respectively. | ||
vrpx |
Shares Of Common Stock Outstanding Percentage
SharesOfCommonStockOutstandingPercentage
|
0.06 | pure | |
CY2020Q2 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
20225 | shares |
CY2020Q2 | vrpx |
Stockbased Compensation Excercisable Percentage
StockbasedCompensationExcercisablePercentage
|
1 | pure |
CY2020Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
|
1 | pure |
CY2020Q2 | vrpx |
Stock Options To Purchase Common Shares
StockOptionsToPurchaseCommonShares
|
3033 | shares |
CY2022Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
244701 | usd |
CY2021Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
321427 | usd |
CY2022Q2 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
208206 | usd |
CY2021Q2 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
302993 | usd |
CY2022Q2 | vrpx |
Stockbased Compensation Within Research And Development Expense
StockbasedCompensationWithinResearchAndDevelopmentExpense
|
36495 | usd |
CY2021Q2 | vrpx |
Stockbased Compensation Within Research And Development Expense
StockbasedCompensationWithinResearchAndDevelopmentExpense
|
18433 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
456041 | usd | |
vrpx |
Stockbased Compensation Within Research And Development Expense
StockbasedCompensationWithinResearchAndDevelopmentExpense
|
72587 | usd | |
vrpx |
Stockbased Compensation Within Research And Development Expense
StockbasedCompensationWithinResearchAndDevelopmentExpense
|
18433 | usd | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y9M | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y9M7D | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0189 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0105 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.7694 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.794 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure | |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
486101 | shares |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
9.89 | |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y8M4D | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
5000 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
4.62 | |
CY2021 | vrpx |
Stocks Issued During Period Shares Stock Options Exercised
StocksIssuedDuringPeriodSharesStockOptionsExercised
|
87751 | shares |
CY2021 | vrpx |
Weighted Average Exercise Price Exercisedin Shares
WeightedAverageExercisePriceExercisedinShares
|
9.89 | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
275717 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
4.62 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
669067 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
7.75 | |
CY2021 | vrpx |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y4M2D | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
518805 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.26 | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1187872 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.35 | |
vrpx |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y7M17D | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
600509 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
7.83 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y9M29D | ||
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
|
321204 | usd |
vrpx |
Exercise Price Per Share
ExercisePricePerShare
|
2.13 | ||
us-gaap |
Deferred Compensation Arrangement With Individual Exercise Price
DeferredCompensationArrangementWithIndividualExercisePrice
|
2.34 | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
|
1.10 | pure | |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
|
77601 | shares |
CY2022Q1 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
|
3.43 | |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
|
60000 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
|
1.76 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
|
60000 | shares | |
us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
|
1.76 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.98 | ||
CY2021Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
3.09 | |
CY2022Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
801470 | usd |
us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P2Y25D | ||
CY2019Q1 | vrpx |
Related Party Loan Principal
RelatedPartyLoanPrincipal
|
1000000 | usd |
vrpx |
Related Party Loan Principal
RelatedPartyLoanPrincipal
|
1000000 | usd | |
CY2018Q1 | vrpx |
Description Of Lipocure Agreement
DescriptionOfLipocureAgreement
|
the LipoCure Agreement, the Company was required to pay an upfront fee upon signing of $150,000 and is required to make future milestone and royalty payments to LipoCure. The Company is obligated to make aggregate milestone payments of up to $19.8 million upon the achievement of specified development and commercial milestones. Royalty payments must be paid in an amount equal to a single digit to low double-digit percentage of annual net sales of royalty qualifying products, subject to certain adjustments. Royalties shall be payable during the period of time, on a country-by-country basis, commencing on the first commercial sale and ending upon the expiration of the last-to-expire patent claim on the licensed product, which is set to expire on July 24, 2030. | |
CY2019Q2 | vrpx |
Nanomerics Collaboration Agreement Description
NanomericsCollaborationAgreementDescription
|
the Company entered into an exclusive collaboration and license agreement, as amended (the “Nanomerics Collaboration Agreement”), with Nanomerics Ltd., a company organized and existing under the laws of United Kingdom (“Nanomerics”), for the exclusive world-wide license to develop and commercialize products, including NES100, which contain hydrophilic neuropeptide Leucin5-Enkephalin and an amphiphile compound which is quaternary ammonium palmitoyl glycol chitosan, to engage in a collaborative program utilizing Nanomerics’ knowledge, skills and expertise in the clinical development of products and to attract external funding for such development. | |
CY2021Q3 | us-gaap |
Research And Development In Process
ResearchAndDevelopmentInProcess
|
400000 | usd |
vrpx |
Research And Development Expenses
ResearchAndDevelopmentExpenses
|
630000 | usd | |
vrpx |
Research And Development Expenses
ResearchAndDevelopmentExpenses
|
0 | usd | |
CY2020Q3 | vrpx |
Cooperative Research And Development Agreement Description
CooperativeResearchAndDevelopmentAgreementDescription
|
The term of the CRADA is for a period of four years from May 6, 2020 (the effective date of the agreement) and can be terminated by both parties at any time by mutual written consent. | |
vrpx |
Evergreen Provision Percentage
EvergreenProvisionPercentage
|
0.02 | pure | |
vrpx |
Aggregate Reserves Plan Description
AggregateReservesPlanDescription
|
(i) 1,500,000 shares of our common stock for the issuance of awards under the 2022 Plan (all of which may be granted as ISOs), plus (ii) an additional number of shares of common stock subject to outstanding awards under the 2017 Plan that become forfeited or canceled without payment or which are surrendered in payment of the exercise price and/or withholding taxes (collectively, the “Share Limit”). Pursuant to the 2022 Plan’s “evergreen” provision, the Share Limit shall be cumulatively increased on January 1, 2023, and on each January 1 thereafter, by 2% of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser number of shares as determined by our board of directors. | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001708331 | ||
vrpx |
Nonemployee Description
NonemployeeDescription
|
●on January 1 of each year, each non-employee director will be granted Stock Options under the 2022 Plan to purchase 15,000 shares of our common stock. ●each new non-employee director will be granted Stock Options under the 2022 Plan to purchase up to 25,000 shares of our common stock, as determined by the Compensation Committee, at the time the individual first becomes a director. ●on January 1, of each year, each then serving non-Chair member of the Audit Committee, the Compensation Committee, the Nominating and Corporate Governance Committee and the Science and Technology Committee shall automatically be granted Stock Options to purchase 5,000 shares of common stock under the 2022 Plan, and the Chair of the Audit Committee, the Compensation Committee, the Nominating and Corporate Governance Committee and the Science and Technology Committee shall each be granted Stock Options to purchase 10,000 shares of common stock under the 2022 Plan. | ||
vrpx |
Expiration Date Description
ExpirationDateDescription
|
All such options will become exercisable on the one-year anniversary of the date of grant | ||
CY2021Q2 | vrpx |
Stock Issued During Period Value Restricted Stock Award Granted Value
StockIssuedDuringPeriodValueRestrictedStockAwardGrantedValue
|
usd | |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
usd | |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
usd | |
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
usd | ||
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
usd | ||
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | ||
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
usd | ||
us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
usd | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | ||
CY2021Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
usd | |
CY2021Q4 | vrpx |
Insurance Premiums
InsurancePremiums
|
usd | |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
usd | |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
usd | |
CY2021 | vrpx |
Weighted Average Remaining Contractual Term Years Granted
WeightedAverageRemainingContractualTermYearsGranted
|
||
CY2021Q4 | vrpx |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOptionsGrantsInPeriodIntrinsicValue
|
usd | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
shares | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
|||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
|
shares | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
|
|||
vrpx |
Weighted Average Remaining Contractual Term Years Granted
WeightedAverageRemainingContractualTermYearsGranted
|
|||
CY2022Q2 | vrpx |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOptionsGrantsInPeriodIntrinsicValue
|
usd | |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
usd | |
CY2022Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
usd | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 |