ATLANTA - Virios Therapeutics, Inc. (NASDAQ:VIRI), a biotechnology company specializing in antiviral therapies, announced a significant step in its intellectual property strategy. The World Intellectual Property Organization (WIPO) has published a global patent application for the company's proprietary combination of valacyclovir and celecoxib, branded as IMC-2, for the treatment of Alzheimer's and COVID-19.
This development, announced on Monday, marks a strategic move by Virios to secure patent protection internationally, which is a key phase before individual countries begin their patent examination processes. The company's focus on antiviral therapies targets chronic diseases such as fibromyalgia (FM) and Long-COVID (LC), conditions which have been linked to an abnormal immune response triggered by viral infections.
An exploratory study on Long-COVID, sponsored by Virios, has shown that IMC-2 can lead to significant reductions in symptoms such as fatigue, pain, and anxiety. These findings have prompted further research, currently underway in a double-blind, placebo-controlled study. The results of this study, led by Dr. Lucinda Bateman, MD, are expected by summer 2024.
The urgency for effective treatments is underscored by the National Center for Health Statistics Household Pulse Survey, which estimates that 17.6% of the U.S. population have experienced Long-COVID since the pandemic began in November 2019. This figure translates to over 45 million potential adult patients, with an additional estimated 10 million children affected in the U.S. alone. Currently, there are no FDA-approved treatments specifically for Long-COVID symptoms.
Long-COVID is associated with immune system dysfunction, potentially leading to the reactivation of dormant herpesviruses like Epstein-Barr virus (EBV), which may contribute to the fatigue and cognitive dysfunction prevalent in Long-COVID sufferers.
Virios Therapeutics' pipeline includes other development candidates, such as IMC-1, a fixed-dose combination of famciclovir and celecoxib, which has received fast track designation by the FDA. The company's research posits that overactive immune responses related to the activation of tissue-resident herpesviruses could be a root cause of various chronic illnesses.
The information in this article is based on a press release statement from Virios Therapeutics.
InvestingPro Insights
As Virios Therapeutics, Inc. (NASDAQ:VIRI) advances its intellectual property strategy with a global patent application for its antiviral therapy, IMC-2, investors are closely monitoring the company's financial health and stock performance. According to InvestingPro data, VIRI holds a market capitalization of $9.05 million. Despite the challenges in profitability, with a negative P/E ratio of -1.65 for the last twelve months as of Q4 2023, the company has demonstrated significant stock price movements, including a substantial return of 32.71% over the last week and 31.6% over the last month.
Two InvestingPro Tips that stand out for VIRI are its strong cash position, which exceeds its debt, and the company's ability to meet short-term obligations with its liquid assets. This financial stability is crucial as Virios Therapeutics invests in research and development for treatments like IMC-2. On the other hand, analysts have concerns about VIRI's profitability, as they do not anticipate the company will be profitable this year, and the net income is expected to drop.
Investors interested in a deeper analysis of Virios Therapeutics can find additional insights on InvestingPro, where there are more than ten InvestingPro Tips available. For those looking to subscribe, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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