01:55 PM EDT, 05/15/2024 (MT Newswires) -- Virpax Pharmaceuticals ( VRPX ) shares tumbled more than 65% in recent Wednesday trading after the company priced its public offering of slightly more than 1.6 million common shares and related warrants at $1.35 each for gross proceeds of nearly $2.3 million.

The five-year series A-1 and 18-month series A-2 warrants to buy an equal number of shares will be exercisable immediately also at $1.35 per share, the company said.

The offering is expected to close on or about Friday.

Price: 0.78, Change: -1.49, Percent Change: -65.64