Biotech Values

[DewDiligence]

VIRI IPOs 3.45M* shares @$10.00:

https://www.businesswire.com/news/home/20201216006036/en

Virios Therapeutics is a development-stage biotechnology company focused on advancing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response, such as fibromyalgia (“FM”). Overactive immune response related to activation of tissue resident Herpes Simplex Virus-1 (“HSV-1”) has been postulated to be a potential root cause of chronic illnesses such as FM, irritable bowel disease (“IBS”), chronic fatigue syndrome and functional somatic syndrome, all of which are characterized by a waxing and waning manifestation of disease.

…Our lead development candidate (“IMC-1”), is a novel, proprietary, fixed dose combination of famciclovir and celecoxib.

Calling a fixed-dose combination of Famvir and Celebrex a “novel” drug is a bit of a stretch. Moreover, the company itself admits that such conditions as fibromyalgia are poorly understood, so who knows if Virios is even chasing the right targets.

*Assuming exercise of underwriter’s option.