Business
Virios Therapeutics Announces Third Quarter 2021 Financial Results and Provides Corporate Update
Over 200 patients Enrolled in Fibromyalgia Phase 2b Trial Filed Investigational New Drug Application with FDA to Assess IMC-1 Potential to Treat Irritable
About this update from Dogwood Therapeutics, Inc.
[{"type":"text","content":"\n\nOver 200 patients Enrolled in Fibromyalgia Phase 2b Trial\n\n\nFiled Investigational New Drug Application with FDA to Assess IMC-1 Potential to Treat Irritable Bowel Syndrome\n\n\nCash Position Supports Operations into Q1 2023\n\n\nManagement to Host Webcast and Conference Call at 8:30 a.m. EST November 11, 2021\n\n\n ATLANTA--(BUSINESS WIRE)--\nVirios Therapeutics, Inc. (Nasdaq: VIRI), a development-stage biotechnology company focused on advancing novel antiviral therapies to treat debilitating chronic diseases, including fibromyalgia, reported today financial results for the third quarter ended September 30, 2021 and provided a corporate update at 8:30 a.m. EST.\n\n“We are pleased to have enrolled over 200 patients into our landmark Phase 2b fibromyalgia clinical trial, referred to as FORTRESS, with the goal to announce top line results in Q3 2022,” stated Greg Duncan, Chairman and Chief Executive Officer. “We are also pleased to announce that based on our research collaboration with Dr. Michael Camilleri of the Mayo Clinic, we have filed an investigational new drug (“IND”) application with the U.S. Food and Drug Administration (“FDA”) to explore the clinical potential of IMC-1 to treat irritable bowel syndrome (“IBS”).\n\nRecent Key Highlights and Upcoming Milestones\n\n\nOver 200 of the target 460 patients enrolled in ongoing fibromyalgia Phase 2b Trial;\n\n\nFiled IND with FDA to explore the utility of IMC-1 in treating patients diagnosed with IBS;\n\n\nThe United States Patent and Trademark Office granted Virios Therapeutics patent exclusivity on its valacyclovir-celecoxib combination drug candidate (“IMC-2”) to 2033, bringing the Company’s intellectual property portfolio to 21 issued patents; and\n\n\nVirios Therapeutics CEO featured in Red Chip Money Report interview on Bloomberg TV on October 30, 2021.\n\n\nThird Quarter 2021 Financial Results\n\nResearch and development expenses were $3.0 million for the third quarter ended September 30, 2021, compared to $0.1 million for the third quarter ended September 30, 2020. The $2.9 million increase was primarily attributable to expenses related to the ongoing FORTRESS clinical trial, the IMC-1 chronic toxicology program and drug development and manufacturing costs.\n\nGeneral and administrative expenses were $1.1 million for the third quarter ended September 30, 2021, as c...