Virios Therapeutics Inc
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Health Care : Biotechnology |
Company profile

Virios Therapeutics, Inc., formerly Virios Therapeutics, LLC., is a development-stage biotechnology company focused on advancing antiviral therapies to treat diseases associated with a viral triggered abnormal immune response, such as fibromyalgia (FM). Its lead development candidate is IMC-1, which is a fixed dose combination of famciclovir and celecoxib. IMC-1 represents a combination antiviral therapy designed to synergistically suppress Herpes Simplex Virus-1 (HSV-1) activation and replication. Its HSV-1 root cause of chronic illnesses such as FM, irritable bowel disease (IBS), chronic fatigue syndrome and functional somatic syndrome. The Company is developing its initial candidate, IMC-1, for people who are suffering from fibromyalgia.

Closing Price
$6.15
Day's Change
0.00 (0.00%)
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Ask
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B/A Size
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Day's High
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Volume
(Light)
Volume:
0

10-day average volume:
60,939
0

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Digital Turbine, Inc. - APPS

12:55 pm ET July 3, 2022 (Newsfile) Print

New York, New York--(Newsfile Corp. - July 3, 2022) - Pomerantz LLP is investigating claims on behalf of investors of Digital Turbine, Inc. (NASDAQ: APPS)("Digital Turbine" or the "Company"). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Digital Turbine and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On May 17, 2022, Digital Turbine issued a press release "announc[ing] . . . that it will restate its financial statements for the interim periods ended June 30, 2021, September 30, 2021, and December 31, 2021, following a review of the presentation of revenue net of license fees and revenue share for the Company's recently acquired businesses." Digital Turbine specified that "[t]he revenue for certain product lines of the recently acquired businesses, which are separate reportable segments, will now be reported net of license fees and revenue share, rather than on a gross basis, as had been previously reported. The changes have the offsetting effect of decreasing both revenue and license fees and revenue share in a like amount, while simultaneously increasing reported gross profit margin and Non-GAAP Adjusted EBITDA margin, in the interim financial statements for each relevant period. There is no change to the previously reported GAAP income from operations, GAAP net income/loss, Non-GAAP gross profit, Non-GAAP Adjusted EBITDA and Non-GAAP free cash flow results. Restated interim consolidated financial statements for each of the affected quarters will be filed as amendments to the respective Company's Form 10-Q filings with the Securities and Exchange Commission on or before May 31, 2022."

On this news, Digital Turbine's stock price fell $1.93 per share, or 7.09%, to close at $25.28 per share on May 18, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

CONTACT:

Robert S. Willoughby

Pomerantz LLP

rswilloughby@pomlaw.com


888-476-6529 ext. 7980

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129874

comtex tracking

COMTEX_409621542/2523/2022-07-03T12:55:54

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