Shares of Virpax Pharmaceuticals Inc. VRPX, +62.87% rocketed for a second straight day on heavy volume, after the company announced an upbeat pre-investigational new drug response from the Food and Drug Administration on its product to inhibit SARS-CoV-2 and the flu. The stock shot up 53.6% in morning trading, after soaring 265.5% on Tuesday, to mark a two-day gain of 461.4%. Trading volume was 28.0 million shares early Wednesday, after a record total of 165.9 million shares on Tuesday, compared with the full-day average over the past 30 days of 9.7 million shares. Before Tuesday’s open, Virpax said the FDA indicated it may pursue a New Drug Application (NDA) for MMS019, as a once daily intranasal treatment. MMS019 is Virpax’s “high-density molecular masking spray under development for the use as an anti-viral barrier product.” The company said MMS019 has shown to inhibit viral replication of SARS-CoV-2 and flue in animals, even at much higher ranges that what is encountered in humans in the nasal passages, with no adverse effects. The stock, which started trading in February, as now run up 484.2% over the past three months, while the S&P 500 SPX, -0.12% has gained 7.8%.
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