2022 Q4 Form 10-Q Financial Statement
#000121390022070597 Filed on November 09, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $1.744M | $4.910M | $1.552M |
YoY Change | -26.47% | 216.46% | |
% of Gross Profit | |||
Research & Development | $1.358M | $2.805M | $400.0K |
YoY Change | -22.39% | 601.28% | |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $3.102M | $7.715M | $400.0K |
YoY Change | -24.74% | 1828.79% | |
Operating Profit | -$7.715M | -$3.250M | |
YoY Change | 137.41% | ||
Interest Expense | $0.00 | -$28.89K | |
YoY Change | -100.0% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $115.0K | $73.25K | $62.92K |
YoY Change | 3526.81% | 16.42% | |
Pretax Income | -$2.987M | -$7.642M | -$3.216M |
YoY Change | -27.46% | 137.64% | |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$2.987M | -$7.642M | -$3.216M |
YoY Change | -27.46% | 137.64% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.65 | -$0.53 | |
Diluted Earnings Per Share | -$0.26 | -$0.65 | -$534.9K |
COMMON SHARES | |||
Basic Shares Outstanding | 11.71M shares | 11.71M shares | 6.012M shares |
Diluted Shares Outstanding | 11.71M shares | 6.012M shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $19.00M | $20.56M | $41.71M |
YoY Change | -48.44% | -50.71% | |
Cash & Equivalents | $19.00M | $20.56M | $41.71M |
Short-Term Investments | |||
Other Short-Term Assets | $678.4K | $3.073M | $1.560M |
YoY Change | -75.16% | 97.05% | |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $19.67M | $23.64M | $43.27M |
YoY Change | -50.28% | -45.38% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $0.00 | ||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $19.67M | $23.64M | $43.27M |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $19.67M | $23.64M | $43.27M |
YoY Change | -50.28% | -45.38% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.000M | $0.00 | |
YoY Change | |||
Accrued Expenses | $654.8K | $311.2K | |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | ||
YoY Change | |||
Total Short-Term Liabilities | $3.095M | $4.208M | $1.812M |
YoY Change | 48.23% | 132.25% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.095M | $4.208M | $1.812M |
Total Long-Term Liabilities | $0.00 | $0.00 | |
Total Liabilities | $3.095M | $4.208M | $1.812M |
YoY Change | 48.23% | 132.25% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$44.35M | -$41.37M | |
YoY Change | 95.36% | ||
Common Stock | $117.00 | $117.00 | |
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $16.58M | $19.43M | $41.46M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $19.67M | $23.64M | $43.27M |
YoY Change | -50.28% | -45.38% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.987M | -$7.642M | -$3.216M |
YoY Change | -27.46% | 137.64% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$1.567M | -$5.499M | -$4.743M |
YoY Change | -68.16% | 15.94% | |
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 | 35.99M |
YoY Change | -100.0% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -1.567M | -5.499M | -4.743M |
Cash From Investing Activities | |||
Cash From Financing Activities | 0.000 | 0.000 | 35.99M |
Net Change In Cash | -1.567M | -5.499M | 31.25M |
YoY Change | -67.83% | -117.6% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.567M | -$5.499M | -$4.743M |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
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Repayments Of Related Party Debt
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10-Q | ||
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Document Period End Date
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2022-09-30 | ||
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2022 | ||
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001-40064 | ||
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VIRPAX PHARMACEUTICALS, INC. | ||
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Entity Incorporation State Country Code
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DE | ||
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Entity Tax Identification Number
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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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Entity Address Postal Zip Code
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19312 | ||
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(610) | ||
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727-4597 | ||
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Common Stock, $0.00001 Par Value Per Share | ||
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Trading Symbol
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VRPX | ||
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NASDAQ | ||
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18000000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
51278908 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-16279381 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
41658639 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
36841992 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
54796 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
20562611 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
41713435 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
363640 | usd | |
us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
18663607 | usd | |
us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
7938434 | usd | |
CY2022Q3 | us-gaap |
Investment Company Distributable Earnings
InvestmentCompanyDistributableEarnings
|
41367514 | usd |
CY2021Q3 | us-gaap |
Shares Issued
SharesIssued
|
6670000 | shares |
CY2022Q3 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
40000000 | usd |
CY2022Q3 | vrpx |
Net Proceeds Received From Offering
NetProceedsReceivedFromOffering
|
37000000 | usd |
CY2022Q3 | vrpx |
Estimated Litigation Liability
EstimatedLitigationLiability
|
2000000 | usd |
us-gaap |
Use Of Estimates
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, estimated litigation liability, 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> | ||
CY2022Q3 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
453692 | usd |
us-gaap |
Dividends Cash
DividendsCash
|
20562611 | usd | |
CY2021 | us-gaap |
Dividends Cash
DividendsCash
|
36841992 | usd |
vrpx |
Tax Benefit
TaxBenefit
|
0.50 | pure | |
CY2021Q3 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
121584 | usd |
CY2022Q3 | vrpx |
Stockbased Compensation Within Research And Development Expense
StockbasedCompensationWithinResearchAndDevelopmentExpense
|
36896 | usd |
CY2021Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
152801 | usd |
us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
2593185 | usd | |
CY2021 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
2466140 | usd |
CY2021Q4 | vrpx |
Legal Retainer
LegalRetainer
|
103050 | usd |
CY2022Q3 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
26273 | usd |
CY2021Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
8453 | usd |
CY2022Q3 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
3073150 | usd |
CY2021Q4 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
2730444 | usd |
CY2022Q3 | vrpx |
Accrued Payroll
AccruedPayroll
|
311227 | usd |
CY2021Q4 | vrpx |
Accrued Payroll
AccruedPayroll
|
627281 | usd |
us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
1050815 | usd | |
CY2021 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
930561 | usd |
CY2022Q3 | vrpx |
Estimated Litigation Liability
EstimatedLitigationLiability
|
2000000 | usd |
us-gaap |
Premiums Earned Net Other Insurance
PremiumsEarnedNetOtherInsurance
|
223933 | usd | |
us-gaap |
Legal Fees
LegalFees
|
604050 | usd | |
CY2021 | us-gaap |
Legal Fees
LegalFees
|
510008 | usd |
us-gaap |
Other Expenses
OtherExpenses
|
3519 | usd | |
CY2021 | us-gaap |
Other Expenses
OtherExpenses
|
4166 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Other Tax Carryforwards
DeferredTaxAssetsOtherTaxCarryforwards
|
8000 | usd |
CY2022Q3 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
14321 | usd |
CY2021Q4 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
7675 | usd |
CY2022Q3 | us-gaap |
Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
4207865 | usd |
CY2021Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
2087691 | usd |
vrpx |
Potential Damages
PotentialDamages
|
35000000 | usd | |
CY2022Q3 | vrpx |
Estimated Litigation Liability
EstimatedLitigationLiability
|
2000000 | usd |
CY2021Q3 | vrpx |
Stockbased Compensation Within Research And Development Expense
StockbasedCompensationWithinResearchAndDevelopmentExpense
|
20189 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
606758 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
833084 | usd | |
us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
497275 | usd | |
us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
794462 | usd | |
vrpx |
Stockbased Compensation Within Research And Development Expense
StockbasedCompensationWithinResearchAndDevelopmentExpense
|
109483 | usd | |
CY2022Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2022Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.00001 | |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
CY2021Q3 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
87751 | shares |
vrpx |
Warrants To Purchase Common Shares
WarrantsToPurchaseCommonShares
|
90000 | shares | |
CY2022Q3 | 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 | |
CY2022Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
18436 | shares |
vrpx |
Unvested Restricted Stock Awards
UnvestedRestrictedStockAwards
|
711 | shares | |
CY2021 | vrpx |
Unvested Restricted Stock Awards
UnvestedRestrictedStockAwards
|
6196 | shares |
CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
4688 | usd |
CY2021Q3 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
22013 | usd |
us-gaap |
Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
|
0 | shares | |
us-gaap |
Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
|
15000 | shares | |
us-gaap |
Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
|
451 | shares | |
us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
32831 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
|
57425 | usd | |
us-gaap |
Common Stock Conversion Basis
CommonStockConversionBasis
|
The 2022 Plan reserves an aggregate of (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 an Incentive Stock Option, or ISOs) and provided for the rollover of all unused shares of common stock reserved under our 2017 Plan or 479,078 share of our common stock, 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. | ||
us-gaap |
Share Based Goods And Nonemployee Services Transaction Description Of Goods Or Services Received
ShareBasedGoodsAndNonemployeeServicesTransactionDescriptionOfGoodsOrServicesReceived
|
The 2022 Plan provides that: ●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. | ||
CY2022Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
150717 | usd |
CY2021Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
141773 | usd |
CY2022Q3 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
113821 | usd |
vrpx |
Stockbased Compensation Within Research And Development Expense
StockbasedCompensationWithinResearchAndDevelopmentExpense
|
38622 | usd | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y7M24D | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y9M | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0196 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0104 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.7712 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.7907 | 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 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
87751 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
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 Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
15591 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
3.14 | ||
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 | ||
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1172281 | shares |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.38 | |
vrpx |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y4M9D | ||
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
620734 | shares |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
7.71 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y7M13D | ||
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
|
321204 | shares |
CY2022Q1 | vrpx |
Exercise Price Per Share
ExercisePricePerShare
|
2.13 | |
CY2022Q1 | us-gaap |
Deferred Compensation Arrangement With Individual Exercise Price
DeferredCompensationArrangementWithIndividualExercisePrice
|
2.34 | |
CY2022Q1 | 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 Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.54 | ||
CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
3.06 | |
CY2022Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
652750 | usd |
us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P1Y10M28D | ||
vrpx |
Related Party Loan Principal
RelatedPartyLoanPrincipal
|
1000000 | usd | |
CY2019Q1 | vrpx |
Related Party Loan Principal
RelatedPartyLoanPrincipal
|
1000000 | usd |
CY2018Q1 | vrpx |
Description Of Lipocure Agreement
DescriptionOfLipocureAgreement
|
Under 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
|
On April 11, 2019, 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 |
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. | |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
usd | |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
usd | |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
|
usd | |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
|
usd | |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
|
usd | |
CY2022Q3 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
|
usd | |
us-gaap |
Gains Losses On Restructuring Of Debt
GainsLossesOnRestructuringOfDebt
|
usd | ||
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
usd | ||
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | ||
us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | ||
CY2022Q3 | vrpx |
Legal Retainer
LegalRetainer
|
usd | |
CY2021Q4 | vrpx |
Estimated Litigation Liability
EstimatedLitigationLiability
|
usd | |
CY2021 | us-gaap |
Premiums Earned Net Other Insurance
PremiumsEarnedNetOtherInsurance
|
usd | |
CY2022Q3 | us-gaap |
Deferred Tax Assets Other Tax Carryforwards
DeferredTaxAssetsOtherTaxCarryforwards
|
usd | |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
usd | |
CY2021 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
|
||
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
|
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 And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
shares | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
|||
us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
|
|||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
|
usd | ||
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
usd | |
CY2022Q3 | 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
|
Q3 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001708331 |