The following is a summary of the Virios Therapeutics, Inc. (VIRI) Q1 2024 Earnings Call Transcript:
Financial Performance:
Virios Therapeutics reported a decrease in research and development expenses, which were $0.3 million for Q1 2024 compared to $0.5 million for Q1 2023.
The company also saw a slight decrease in general and administrative expenses, going from $1.1 million in Q1 2023 to $1 million in Q1 2024.
A reduction in net loss was reported, with the Q1 2024 figure being $1.3 million compared to $1.5 million in Q1 2023.
As of March 31, 2024, the company held cash totaling $2.4 million, down from $3.3 million recorded at the end of 2023.
Business Progress:
The company has achieved 50% enrollment in the ongoing Bateman Horne Center Long-COVID Phase 2 study with no serious adverse events so far.
Research suggests that Virios' therapeutic targets, herpesviruses, may trigger Long-COVID in a percentage of sufferers.
The company expects top-line results from this study in the second half of 2024.
Virios Therapeutics' global patent for IMC-2, meant for the antiviral treatment of Long-COVID and Alzheimer's disease, has recently been published.
For the treatment of fibromyalgia, the firm intends to partner up to proceed with Phase 3 development of their second development candidate IMC-1.
Virios is considering different possibilities to enhance shareholder value, which may include strategic partnerships, collaborations, or other types of transactions.
More details: Virios Therapeutics IR
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