Virpax Pharmaceuticals Inc. (VRPX)

[StockLogistics]

“ Litigation

From time to time the Company is subject to claims by third parties under various legal disputes. The defense of such claims, or any adverse outcome relating to any such claims, could have a material adverse effect on the Company’s liquidity, financial condition and cash flows.

On March 12, 2021, the Company and Mr. Mack (the “Defendants”) were named as defendants in a complaint (the “Complaint”) filed by Sorrento Therapeutics, Inc. (“Sorrento”), and Scilex Pharmaceuticals Inc. (“Scilex” and together with Sorrento, the “Plaintiffs”) in the Court of Chancery of the State of Delaware. In the Complaint, the Plaintiffs alleged (i) Mr. Mack breached a Restrictive Covenants Agreement, dated as of November 8, 2016, between himself and Sorrento (the “Restrictive Covenants Agreement”), (ii) the Company tortiously interfered with the Restrictive Covenants Agreement, and (iii) the Company tortiously interfered with Scilex’s relationship with Mr. Mack. On May 7, 2021 Plaintiffs filed an Amended Complaint (the “First Amended Complaint”) asserting the same three causes of action. Simultaneously with filing the original Complaint, Plaintiffs filed a motion to expedite, seeking a hearing on their prospective motion for a preliminary injunction, prohibiting Mr. Mack’s alleged violations of the Restrictive Covenants Agreement and prohibiting the alleged tortious interference. On March 22, 2021, Vice Chancellor Paul A. Fioravanti Jr. issued a scheduling order, setting forth terms which had been agreed to by the parties, under which oral argument on Plaintiffs’ proposed motion for preliminary injunction was scheduled for July 15, 2021. On May 18, 2021, the Vice Chancellor issued a revised scheduling order, also setting forth terms which had been agreed to by the parties, under which Plaintiffs agreed not to move for a preliminary injunction and a trial in the action was set for February 9-11, 2022. On September 28, 2021, Plaintiffs filed a Second Amended Verified Complaint asserting the same three causes of action as the prior complaints, as well as additional claims in which Plaintiffs allege (i) Mr. Mack breached an Employment, Proprietary Information and Inventions Agreement, dated as of October 25, 2016, between himself and Sorrento (the “Employment Agreement”), (ii) the Company tortiously interfered with the Employment Agreement, (iii) Mr. Mack breached his fiduciary duties to Scilex, and (iv) the Company aided and abetted Mr. Mack’s alleged breach of fiduciary duties to Scilex. On October 18, 2021, Defendants filed an Answer to the Second Amended Complaint, and subsequently withdrew a previously filed motion to dismiss the first Amended Complaint. We intend to vigorously defend the action. However, we are unable to predict the ultimate outcome of the lawsuit at this time.
“

- From the quarterly filing

[Awl416]

News

[JMoneyHoops]

Adding here

[ok2buy]

Company just screwed existing share holders with a $6.00 placement. Shame on you./ok2

[ok2buy]

Halted this morning pending news. On my watchlist./ok2

[ok2buy]

Back in on the buy, thanks to the seller./ok2

[ok2buy]

Also extremely low float on this one. Big money looking to steal your shares today if you let them./ok2

[ok2buy]

I see the games are afoot here. Large asks coming into the block, looking to scare retailers holding the stock into selling lower. Don't be intimidated by institutions into selling your shares because they are buying them./ok2

[ok2buy]

Oversold on a Friday. Bought and will hold into next week. Good luck to all./ok2buy

[Jake L]

VRPX - MIDDAY REPORT

[SurgeGuy2.0]

Another SCAM play? lolzzzzzz

[SurgeGuy2.0]

Ouch! CRASH AND BURN!!!!!! lolzzzzzzzzzzz No COXY ROXY here! lolzzzzz

[bcapps66]

It happens....I was up going into the late afternoon so I went to the beach for an hour just to come back to a disaster haha.

[thepat45]

Yeah, not my finest moment for sure.

[dinogreeves]

CHRS is the next big runner, has 50 dollars writen all over it by Monday next week.

[bcapps66]

That didn't work out well....

[fitzwell11]

Everyone look at NURO on its run. Same pattern. Exploded to $40 they faded it all the way back to $21 then it gapped to
$40 next morning. I don’t think shorts are off the hook here yet. Just my .02

[thepat45]

After hours should be interesting then.. Looking for a large spike after close today.

[Pedro2004]

They're shorting, covering, shorting again, and covering again -- to shake this down.

[thepat45]

Can only short but so much... Float is around 2 million shares...

[Pedro2004]

Damn. They're shorting the hell out of this to keep it down.

[thepat45]

Sure, I'll go for a ride...

[budgetthis]

Turning over in the $20 + range nicely……..

Elevator going up ?

All Aboard ?

$$ VRPX $$

[SurgeGuy2.0]

100% complete BS!!!!! Sorry! lolzzzzzzzz

[makinezmoney]

$VRPX: Get a good broker


Who's your broker ?


THey probably suck



GO $VRPX

[BUFCARP]

They stopped it with the bs halt to save shorts..

[dinogreeves]

I know of one reality, once I get out, I never get back in. Good luck though.

[Major_Bankz]

Reality here = only 2M Float, with this volume its going much higher.

[Major_Bankz]

2M Float should be locked by now, this runs to $50+

[eur06]

True

[Major_Bankz]

maybe higher, 2M Float is just crazy low.

[makinezmoney]

$VRPX: Catch the next VRPX at $PMCB right now


NO SHARES TO SHORT !!!!!!!



And HALTED right now.


You know how this works :)



GO $VRPX & $PMCB

[MonstaGains]

Weeeeeeeeeee hahaha

[Major_Bankz]

Volatility halt, should open around $35+

[Major_Bankz]

looks like its holding strong, with 2M Float this runs to $50+ today

[cityimport]

Thank you Dino!
congratulation to you too.

Let's get to the next BIG one ;)

[Major_Bankz]

they have not seen anything yet.

[dinogreeves]

20 is too low, 25 will be minimum, but it is possible 21-22 will be the bottom.

[Major_Bankz]

this may dip to $20 at the open, after that it runs to $50

[MonstaGains]

Shorts got screwed overnight bigtime lol

[MonstaGains]

Hahaha weeeeeeee they bought some of my shares at 36 lol

[dinogreeves]

Who knows what it will do, in my honest opinion it is worth at least 40 dollars, that is just about it for now

[Major_Bankz]

VRPX $50 maybe $80+ today!

[dinogreeves]

You have to enable your account to extended hours trading.

[Major_Bankz]

VRPX will hit $50+ today

[eur06]

Yes

[Tim696969]

7 am EST right?

[Tim696969]

Good to know! I was not sure of when PM started on Etrade.

[familymatters]

thank you!

[eur06]

E*TRADE for example starts at 7 am