Virios Therapeutics and Wex Pharmaceuticals Merge, Rebranded as Dogwood Therapeutics, To Focus on Neuropathic Pain and Long-COVID Treatments
Portfolio Pulse from Benzinga Newsdesk
Virios Therapeutics (NASDAQ:VIRI) and Wex Pharmaceuticals have merged to form Dogwood Therapeutics (NASDAQ:DWTX), focusing on neuropathic pain and Long-COVID treatments. The merger involves a reverse stock split and a $19.5 million financing. Dogwood will focus on developing Halneuron®, IMC-1, and IMC-2, with key milestones expected in the coming years.
October 07, 2024 | 11:09 am
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Dogwood Therapeutics, the new entity formed from the merger of Virios Therapeutics and Wex Pharmaceuticals, will focus on developing treatments for neuropathic pain and Long-COVID.
The new focus on innovative treatments and the financial backing from the merger are expected to drive positive sentiment and potential stock price increase for Dogwood Therapeutics.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Virios Therapeutics has merged with Wex Pharmaceuticals to form Dogwood Therapeutics, resulting in a reverse stock split and a new focus on neuropathic pain and Long-COVID treatments.
The merger and rebranding to Dogwood Therapeutics, along with the focus on promising treatments and a reverse stock split, are likely to positively impact the stock in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100