NanoViricides (NYSE American: NNVC), a global leader in broad-spectrum antiviral nanomedicines, has filed on its second-quarter 2024 financial results for the period ending March 31, 2024; the company filed the report with the U.S. Securities and Exchange Commission on May 14, 2024. Notable numbers from the report include cash and cash equivalent totaling $3.51 million, with additional agreements adding approximately $2.5 million more in available cash with property, equipment and intangible assets reported at approximately $7.92 million.
The report also noted that the company has a clinical asset in NV-387 that is available for partnering, which could result in a substantial initial payment, as well as milestone and royalty payments. A unique drug candidate with broad-spectrum antiviral activity, NV-237 is “poised to transform the treatment of viral infections reminiscent of the broad-spectrum antibacterial activity of penicillin that transformed treatment of bacterial infections,” said the company in the press release. “While NV-387 was developed in the context of the COVID-19 pandemic as a broad-spectrum, pan-coronavirus drug, we have found that it has strong antiviral activity against diverse types and families of viruses that include coronaviruses, RSV, influenza A, as well as smallpox/mpox in relevant animal models of these infections.”
To view the full press release, visit https://ibn.fm/i2BbD
About NanoViricides Inc.
NanoViricides is a development-stage company that is creating special purpose nanomaterials for antiviral therapy. The company’s novel nanoviricide(R) class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. Additionally, nanoviricides mimic the host-side features that the viruses continue to require in spite of mutations, and therefore, the viruses would be highly unlikely to escape the nanvoricide drugs. The company’s lead drug candidate is NV-387 (drug product NV-CoV-2) for the treatment of RSV, COVID-19, Long COVID, influenza, Bird Flu H5N1 and other respiratory viral infections. NV-387 has successfully completed a phase 1a/1b human clinical trial in healthy subjects with no reported adverse events, even at the highest and repeated dosages. The company is currently focused on advancing NV-387 into phase 2 human clinical trials for treatment of RSV infection. NanoViricides’ other advanced candidate is NV-HHV-1 for the treatment of shingles rash, HSV-1 “cold sores” and HSV-2 “genital ulcers.” The company cannot project an exact date for filing an IND for any of its drugs because of dependence on a number of external collaborators and consultants. To learn more about the company, visit www.NanoViricides.com.
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