Nanoviricides Stock Price, News & Analysis

NanoViricides, Inc. (NYSE American:NNVC) announced the development of oral gummies and inhalation formulations for its COVID-19 drug candidate NV-CoV-2. These new formulations aim to benefit both non-hospitalized patients and severely ill hospitalized patients. The company reports strong safety results from animal studies, noting that NV-CoV-2 is non-immunogenic, non-allergenic, and non-mutagenic. With these advancements, they aim to support healthcare systems during the ongoing COVID-19 pandemic.

NanoViricides, Inc. (NYSE American:NNVC) filed its Annual Report on Form 10-K for the fiscal year ending June 30, 2021, reporting approximately $20.8 million in cash and cash equivalents and $9.08 million in Property and Equipment. The company raised $10.4 million from an equity offering and $6.1 million under an At Market Issuance Sales Agreement, bolstering its finances. Progress was made on COVID-19 drug candidates with promising animal studies indicating significant effectiveness. However, the company reported a net loss of $8.82 million for the fiscal year, down from $13.45 million the previous year.

NanoViricides, Inc. (NYSE American: NNVC) announced that its drug candidate NV-CoV-2 showed effectiveness against SARS-CoV-2 in a cell culture pseudovirion assay, indicating broad-spectrum pan-coronavirus activity. This suggests the drug could combat evolving variants of the virus. The study revealed NV-CoV-2 inhibits virus infection similarly to a positive control antibody. The company plans to prepare documents for human clinical trials, believing NV-CoV-2 could significantly impact the ongoing pandemic if proven effective.

NanoViricides, Inc. (NYSE American: NNVC) presented updates on its COVID-19 drug development program at the Benzinga Healthcare Small Cap Conference on September 30, 2021. The company is advancing two drug candidates, NV-CoV-2 and NV-CoV-2-R, which target SARS-CoV-2 and its variants. Both candidates demonstrated superior efficacy compared to Remdesivir in animal studies, extending lifespan significantly. NV-CoV-2-R is particularly notable for blocking the virus's lifecycle through dual mechanisms. The company is preparing for clinical trials and emphasizes the potential for oral administration, particularly for pediatric use.

NanoViricides, Inc. (NNVC) announced significant advancements in its COVID-19 treatment candidate NV-CoV-2-R, which incorporates remdesivir. Data showed that encapsulated remdesivir in NV-CoV-2-R resulted in nearly double the plasma retention compared to standard formulations, enhancing antiviral efficacy. Importantly, NV-CoV-2-R exhibited lower toxicity, with only 3% weight loss in test subjects compared to 9.5% with standard remdesivir. This dual-action drug aims to develop a pan-coronavirus therapy, addressing issues with current vaccines and antibodies against evolving variants.

NanoViricides, Inc. (NNVC) announced the successful licensing of the human Coronavirus field for drug development from TheraCour Pharma, Inc. on September 8, 2021. The agreement allows NanoViricides to develop anti-coronavirus treatments, with no upfront payments required. The company is progressing its COVID-19 drug candidates, NV-CoV-2 and NV-CoV-2-R, towards clinical trials. They believe their drugs will remain effective against emerging variants, aided by a comprehensive patent strategy that offers substantial market potential. The agreement includes milestone payments and royalty agreements based on future sales.

NanoViricides, Inc. (NYSE American: NNVC) filed its quarterly report for Q3 FY2021, reporting approximately $23.23 million in current assets and $0.87 million in cash liabilities, with no debt and $31.89 million in stockholders' equity. The company aims to advance its COVID-19 drug candidates, NV-CoV-2 and NV-CoV-2-R, towards human clinical trials. Both candidates have shown substantial antiviral effects in animal models, significantly outperforming Remdesivir. The company is preparing for FDA IND submissions and has sufficient funds for initial human trials.

NanoViricides, Inc. (NNVC) announced promising results for its COVID-19 drug candidates NV-CoV-2 and NV-CoV-2-R, demonstrating significant effectiveness in preclinical animal studies. NV-CoV-2 extended the lifespan of infected rats by four times compared to remdesivir, while NV-CoV-2-R extended it by five times. Body weight loss was substantially less in treated groups. Both candidates are being prepared for a pre-IND application aimed at human clinical studies, potentially addressing the need for effective antiviral treatments as COVID-19 variants evolve.

NanoViricides, Inc. (NNVC) announced significant progress in developing its COVID-19 drug candidates, NV-CoV-2 and NV-CoV-2-R. Both candidates demonstrated strong effectiveness against two distinct coronaviruses, suggesting potential efficacy against various variants. NV-CoV-2-R combines NV-CoV-2 with remdesivir, potentially enhancing its effectiveness by protecting it from metabolism in the body. The Company is preparing to submit a pre-IND application to the FDA, paving the way for human clinical trials. These developments indicate a strong outlook for combating coronaviruses amid ongoing global challenges.