Virpax Pharmaceuticals shares are trading higher after the company closed a $2.5 million secured loan financing from an institutional investor, enabling the final payment of its litigation settlement.
Portfolio Pulse from Benzinga Newsdesk
Virpax Pharmaceuticals shares are trading higher after securing a $2.5 million loan from an institutional investor, which will be used to make the final payment of its litigation settlement.
July 08, 2024 | 11:34 am
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Virpax Pharmaceuticals shares are trading higher after the company secured a $2.5 million loan from an institutional investor. This funding will enable the company to make the final payment of its litigation settlement.
The secured loan provides Virpax Pharmaceuticals with the necessary funds to settle its litigation, which removes a significant financial overhang. This positive development is likely to boost investor confidence and drive the stock price higher in the short term.
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