Virios Therapeutics, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 09:25 am EST
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Virios Therapeutics, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net loss was USD 1.1 million compared to USD 2.04 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.11 a year ago.
For the full year, net loss was USD 5.3 million compared to USD 12.25 million a year ago. Basic loss per share from continuing operations was USD 0.28 compared to USD 1.11 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.