Virios Therapeutics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 07:16 am EDT
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Virios Therapeutics, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 1.44 million compared to USD 3.67 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.44 a year ago.
For the six months, net loss was USD 2.96 million compared to USD 7.63 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to USD 0.92 a year ago.
Virios Therapeutics, Inc. is a development-stage biotechnology company. The Company is focused on advancing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response such as fibromyalgia (FM) and Long-COVID (LC). Its lead candidate, IMC-1, is a novel, proprietary, fixed dose combination of famciclovir and celecoxib. IMC-1 represents a novel combination, dual mechanism antiviral therapy designed to synergistically suppress herpes virus activation and replication, with the end goal of reducing viral mediated disease burden. IMC-2 is a combination of valacyclovir and celecoxib that is believed to have specific activity against Epstein-Barr virus (herpesvirus HHV-4), as well as other herpesviruses. IMC-1 and IMC-2 combine two specific mechanisms of action purposely designed to inhibit herpesvirus activation and replication, thereby converting activated herpesvirus back to dormancy and/or by keeping the herpesvirus in a latent or dormant state.