EXCLUSIVE: Virax Biolabs Signs Research Agreement to Enhance Long COVID Diagnostic Research
Research Agreement: Virax Biolabs has signed a Research Services Agreement with Emory University's ADJUST Center to conduct clinical studies on its proprietary T cell testing technology, ViraxImmune.
Focus on Long COVID: The studies will primarily assess immune profiling in individuals suffering from post-acute sequelae of SARS-CoV-2 (PASC), commonly referred to as long COVID.
Regulatory Strategy: The collaboration aims to generate clinical data to support regulatory submissions and inform the company's strategy ahead of a pre-submission meeting with the FDA scheduled for September 2025.
Market Opportunity: CEO James Foster emphasized the importance of this partnership in addressing the diagnostic needs for millions affected by long COVID and other post-viral conditions, positioning ViraxImmune as a potential solution.
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Virax Biolabs Closes $5 Million Private Placement to Extend Cash Runway
- Successful Financing: Virax Biolabs has successfully closed a $5 million private placement, issuing 12.5 million ordinary shares and preferred investment options, reflecting market confidence in its immunology research.
- Clear Use of Funds: The proceeds from this financing will be used for general working capital, extending the company's cash runway into the first half of 2028, ensuring continued progress in its post-acute sequelae of COVID-19 studies.
- Registration Statement Commitment: Virax has committed to filing a registration statement with the SEC within 45 days to facilitate the resale of securities, enhancing investor confidence and liquidity.
- Adjustment of Preferred Investment Options: The company is reducing the exercise price of existing preferred investment options from $2.934 to $0.40, further lowering the entry barrier for investors and promoting future financing activities.
Virax Biolabs Secures $5 Million Funding to Extend Cash Runway into 2028
- Successful Financing: Virax Biolabs has successfully closed a $5 million private placement, issuing 12.5 million ordinary shares and preferred investment options, which is expected to extend its cash runway into the first half of 2028, ensuring continued operations in COVID-19 sequelae research.
- Research Advancement: The funding will support Virax in completing its US and UK studies on post-acute sequelae of COVID-19, with plans to submit applications to the FDA and MHRA, further driving innovation in immunology.
- Investor Confidence: The involvement of H.C. Wainwright & Co. as the exclusive placement agent indicates strong market confidence in Virax's future growth, with the successful financing enhancing the company's competitiveness in the biotechnology sector.
- Equity Structure Adjustment: Virax will also reduce the exercise price of existing preferred investment options from $2.934 to $0.40 and extend their term to five years, aiming to increase investor participation and optimize its capital structure.
UiPath Shares Rise Approximately 9%; Check Out 20 Stocks Making Moves in Premarket Trading
UiPath Financial Results: UiPath Inc. shares rose 8.7% in pre-market trading after reporting third-quarter adjusted earnings of 16 cents per share and revenue of $411.11 million, both exceeding estimates.
Other Gainers: Several stocks saw significant pre-market gains, including Polyrizon Ltd (+158.1%), Nauticus Robotics, Inc (+34%), and Picard Medical, Inc (+22.3%), driven by positive news and developments.
Notable Losers: Virax Biolabs Group Ltd fell 16.2% after announcing a private placement, while Treasure Global Inc declined 13.3% following a reverse stock split and Nasdaq delisting notification.
Market Overview: The pre-market trading session showed a mix of gains and losses across various stocks, with some companies like Axogen, Inc and Hyster-Yale, Inc also experiencing notable increases.
Virax Biolabs Announces $5 Million Private Placement Deal
Share Purchase Agreement: Virax Biolabs Group Limited has entered into an agreement to sell 12.5 million shares at $0.40 each, aiming for gross proceeds of $5 million.
Use of Proceeds: The company plans to utilize the net proceeds for working capital and general corporate purposes, with the private placement expected to close around December 4, 2025.
Regulatory Compliance: Virax Biolabs will complete necessary SEC paperwork within 45 days to enable investors to legally resell their shares.
Stock Performance: Following a significant increase of 75.11% in the previous trading session, the stock is down 16.16% in pre-market trading.
Virax Biolabs (VRAX) Shares Decline in After-Hours Trading After 75% Surge
Stock Performance: Virax Biolabs Group Ltd (NASDAQ: VRAX) shares fell 12.79% to $0.60 in after-hours trading, despite closing at $0.69, a 75.11% increase for the day. The stock has declined 68.87% year-to-date.
Private Placement Announcement: The company announced a private placement of 12.5 million ordinary shares at $0.40 each, expected to raise $5 million before fees, with H.C. Wainwright & Co. as the exclusive placement agent.
Warrant Modifications: The offering includes preferred investment options priced at $0.40 per share, with modifications to existing Series A and B options to match the new price and extend their expiration to five years.
Use of Proceeds: Virax plans to use the net proceeds from the private placement for working capital and general corporate purposes, with the transaction expected to close soon, subject to customary conditions.
Virax Biolabs Secures $5 Million in Private Placement for 12.5 Million Shares
- Financing Scale: Virax Biolabs is raising $5 million through a private placement of 12.5 million ordinary shares and preferred investment options, which will enhance the company's financial flexibility for working capital and general corporate purposes.
- Investor Agreement: The preferred investment options have an exercise price of $0.40 per share, allowing investors to exercise immediately upon issuance, providing long-term funding support for future R&D projects.
- Registration Statement Commitment: Virax has committed to filing an initial registration statement with the SEC within 45 days to facilitate the resale of shares by investors, thereby enhancing market liquidity and boosting investor confidence.
- Market Outlook: This financing will support Virax's innovative developments in immunology research and diagnostics for viral diseases, particularly in advancing testing technologies for post-acute infection syndromes like Long COVID, aligning with market demand for new solutions.
Virax Biolabs Closes $5 Million Private Placement to Extend Cash Runway
- Successful Financing: Virax Biolabs has successfully closed a $5 million private placement, issuing 12.5 million ordinary shares and preferred investment options, reflecting market confidence in its immunology research.
- Clear Use of Funds: The proceeds from this financing will be used for general working capital, extending the company's cash runway into the first half of 2028, ensuring continued progress in its post-acute sequelae of COVID-19 studies.
- Registration Statement Commitment: Virax has committed to filing a registration statement with the SEC within 45 days to facilitate the resale of securities, enhancing investor confidence and liquidity.
- Adjustment of Preferred Investment Options: The company is reducing the exercise price of existing preferred investment options from $2.934 to $0.40, further lowering the entry barrier for investors and promoting future financing activities.
Virax Biolabs Secures $5 Million Funding to Extend Cash Runway into 2028
- Successful Financing: Virax Biolabs has successfully closed a $5 million private placement, issuing 12.5 million ordinary shares and preferred investment options, which is expected to extend its cash runway into the first half of 2028, ensuring continued operations in COVID-19 sequelae research.
- Research Advancement: The funding will support Virax in completing its US and UK studies on post-acute sequelae of COVID-19, with plans to submit applications to the FDA and MHRA, further driving innovation in immunology.
- Investor Confidence: The involvement of H.C. Wainwright & Co. as the exclusive placement agent indicates strong market confidence in Virax's future growth, with the successful financing enhancing the company's competitiveness in the biotechnology sector.
- Equity Structure Adjustment: Virax will also reduce the exercise price of existing preferred investment options from $2.934 to $0.40 and extend their term to five years, aiming to increase investor participation and optimize its capital structure.
UiPath Shares Rise Approximately 9%; Check Out 20 Stocks Making Moves in Premarket Trading
UiPath Financial Results: UiPath Inc. shares rose 8.7% in pre-market trading after reporting third-quarter adjusted earnings of 16 cents per share and revenue of $411.11 million, both exceeding estimates.
Other Gainers: Several stocks saw significant pre-market gains, including Polyrizon Ltd (+158.1%), Nauticus Robotics, Inc (+34%), and Picard Medical, Inc (+22.3%), driven by positive news and developments.
Notable Losers: Virax Biolabs Group Ltd fell 16.2% after announcing a private placement, while Treasure Global Inc declined 13.3% following a reverse stock split and Nasdaq delisting notification.
Market Overview: The pre-market trading session showed a mix of gains and losses across various stocks, with some companies like Axogen, Inc and Hyster-Yale, Inc also experiencing notable increases.
Virax Biolabs Announces $5 Million Private Placement Deal
Share Purchase Agreement: Virax Biolabs Group Limited has entered into an agreement to sell 12.5 million shares at $0.40 each, aiming for gross proceeds of $5 million.
Use of Proceeds: The company plans to utilize the net proceeds for working capital and general corporate purposes, with the private placement expected to close around December 4, 2025.
Regulatory Compliance: Virax Biolabs will complete necessary SEC paperwork within 45 days to enable investors to legally resell their shares.
Stock Performance: Following a significant increase of 75.11% in the previous trading session, the stock is down 16.16% in pre-market trading.
Virax Biolabs (VRAX) Shares Decline in After-Hours Trading After 75% Surge
Stock Performance: Virax Biolabs Group Ltd (NASDAQ: VRAX) shares fell 12.79% to $0.60 in after-hours trading, despite closing at $0.69, a 75.11% increase for the day. The stock has declined 68.87% year-to-date.
Private Placement Announcement: The company announced a private placement of 12.5 million ordinary shares at $0.40 each, expected to raise $5 million before fees, with H.C. Wainwright & Co. as the exclusive placement agent.
Warrant Modifications: The offering includes preferred investment options priced at $0.40 per share, with modifications to existing Series A and B options to match the new price and extend their expiration to five years.
Use of Proceeds: Virax plans to use the net proceeds from the private placement for working capital and general corporate purposes, with the transaction expected to close soon, subject to customary conditions.
Virax Biolabs Secures $5 Million in Private Placement for 12.5 Million Shares
- Financing Scale: Virax Biolabs is raising $5 million through a private placement of 12.5 million ordinary shares and preferred investment options, which will enhance the company's financial flexibility for working capital and general corporate purposes.
- Investor Agreement: The preferred investment options have an exercise price of $0.40 per share, allowing investors to exercise immediately upon issuance, providing long-term funding support for future R&D projects.
- Registration Statement Commitment: Virax has committed to filing an initial registration statement with the SEC within 45 days to facilitate the resale of shares by investors, thereby enhancing market liquidity and boosting investor confidence.
- Market Outlook: This financing will support Virax's innovative developments in immunology research and diagnostics for viral diseases, particularly in advancing testing technologies for post-acute infection syndromes like Long COVID, aligning with market demand for new solutions.
