Biotech Values

[DewDiligence]

VIRI reverse-merges with—(private)—Wex Pharmaceuticals:

https://ir.virios.com/news/press-releases/detail/123/virios-therapeutics-inc-and-wex-pharmaceuticals-inc

WEX Pharmaceuticals Inc. is a private biopharmaceutical company based in Vancouver, British Columbia, Canada, developing a new class of non-opioid analgesics. WEX’s proprietary platform and the lead product is Halneuron. The active pharmaceutical ingredient in Halneuron is Tetrodotoxin, which is a proven sodium channel blocker known to be effective for pain relief.

The merged company will be called Dogwood Therapeutics; it will trade on Nasdaq with the DWTX symbol starting 10/9/24, following a 1:25 reverse split. Existing VIRI shareholders will own a scant 6% of the equity in the merged company.