Virios Therapeutics (VIRI) IPO Opens 22% Higher

Today's IPO for Virios Therapeutics, Inc. (NASDAQ: VIRI) opened for trading at $12.15 after pricing of its initial public offering of 3,000,000 shares of its common stock at a public offering price of $10.00 per share.

In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

Virios Therapeutics is a development-stage biotechnology company focused on advancing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response, such as fibromyalgia (“FM”). Overactive immune response related to activation of tissue resident Herpes Simplex Virus-1 (“HSV-1”) has been postulated to be a potential root cause of chronic illnesses such as FM, irritable bowel disease (“IBS”), chronic fatigue syndrome and functional somatic syndrome, all of which are characterized by a waxing and waning manifestation of disease. While not completely understood, there is general agreement in the medical community that activation of HSV-1 is triggered by some form of environmental and/or health stressor. Our lead development candidate (“IMC-1”), is a novel, proprietary, fixed dose combination of famciclovir and celecoxib. IMC-1 represents a novel combination antiviral therapy designed to synergistically suppress HSV-1 activation and replication, with the end goal of reducing viral mediated disease burden.

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