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Virpax® Pharmaceuticals Announces Price of $ 40 Million Common Stock Public Offering

BERWYN, Pennsylvania, September 14, 2021– (BUSINESS WIRE) –Virpax® Pharmaceuticals Inc. (“Virpax” or the “Company”) (NASDAQ: VRPX), a company specializing in the development of pharmaceutical products for the treatment of pain, announced today the price of a subscribed public offering of 6,670,000 common shares at a public offering price of $ 6.00 per share, for a gross amount of 40,020 $ 1 billion, before deducting subscription discounts and offering expenses. In addition, Virpax has granted underwriters a 45-day option to purchase up to an additional 1,000,500 common shares to cover the over-allotments at the public offering price, less the subscription discount.

The Company intends to use the net proceeds of the offering to finance the research and development of the Epoladerm, Probudur, Envelta and AnQlar indications, and other development programs, pay the commissions and expenses associated with the offer, repay outstanding promissory notes issued to the CEO of the company and pay deferred compensation owed to the CEO of the company, as well as for working capital and other general corporate purposes.

ThinkEquity acts as the sole manager of the offering.

A registration statement on Form S-1 (File No. 333-259421) has been filed with the Securities and Exchange Commission (“SEC”), effective September 14, 2021, regarding common shares. that are offered. This offer is made solely by means of a prospectus. Copies of the final prospectus may be obtained, when available, at ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by phone at (877) 436-3673, by email at prospectus@think-equity.com . The final prospectus will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to purchase, nor will any sale of these securities be made in any state or jurisdiction where such offer, solicitation, or sale is illegal prior to registration or qualification under the securities laws of that state or jurisdiction.

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About Virpax Pharmaceuticals

Virpax is a pre-clinical phase biopharmaceutical company that aims to become a world leader in pain management through the development and distribution of innovative non-opiate and non-addictive pharmaceuticals using new drug delivery systems and technologies. Virpax is developing brand name pharmaceutical drug candidates for pain management using advanced technology in an effort to improve the quality of life for patients. For more information, visit www.virpaxpharma.com.

Prospective Statements

This press release contains certain forward-looking statements, including those regarding the expected end date of the offering and other forward-looking statements. Forward-looking statements are based on the current expectations and assumptions of the Company. The Private Securities Litigation Reform Act of 1995 provides a safeguard for forward-looking statements. These statements can be identified by the use of forward-looking expressions, including, but not limited to, “expect”, “anticipate”, “intend”, “plan”, “believe”, “estimate”, “potential”, “predict”, ” project “,” should “,” would “and similar expressions, as well as the negations of those terms. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which refer only to the date of this presentation. The Company does not undertake to publicly update any of the forward-looking statements, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those of the forward-looking statements are set forth in the Company’s files with the Securities and Exchange Commission, including its registration statement on Form S-1, as amended from meanwhile, under the heading “Risk Factors”.

The original text in the source language of this release is the official authorized version. Translations are provided as an adaptation only and must be checked against the text in the source language, which is the only version of the text that will have legal effect.

View the original version at businesswire.com: https://www.businesswire.com/news/home/20210914006199/en/

Contacts

Christopher M. Chipman, CPA
CFO
cchipman@virpaxpharma.com
610-727-4597

OR

Betsy brod
Affinity Growth Advisors
betsy.brod@affinitygrowth.com
212-661-2231

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