NanoViricides Inc. - NNVC STOCK NEWS

NanoViricides, Inc. (NNVC) filed its Q2 FY2021 report, announcing current assets of approximately $18.39 million against liabilities of $0.34 million. The company has no debt and stockholder's equity stands at about $27.74 million. Despite no revenues reported, NanoViricides is advancing its broad-spectrum antiviral candidates for COVID-19 towards clinical trials. The drug NV-CoV-2 aims to target all coronavirus variants, while NV-CoV-2-R combines this with remdesivir to enhance treatment efficacy. The company is preparing to submit a pre-IND application to the FDA.

NanoViricides, Inc. (NYSE American: NNVC) announced that its anti-coronavirus drug candidate, NV-CoV-2, was well tolerated in safety pharmacology studies, paving the way for human clinical trials. Conducted by a contract research organization, these studies showed no adverse effects on respiratory and cardiovascular functions in animal models. The company plans to submit a pre-IND application to the US FDA soon. As new variants of the virus emerge, the need for a broad-spectrum treatment is emphasized, underlining the potential market opportunity for NV-CoV-2.

NanoViricides, Inc. (NNVC) emphasizes the urgent need for broad-spectrum antiviral therapies to combat COVID-19, highlighting recent developments and the challenges posed by emerging virus variants. President Anil Diwan points out that current vaccines and antibody treatments may become ineffective against these variants. The company's unique nanoviricide technology aims to directly attack and disable viruses, potentially remaining effective despite mutations. Currently, NNVC is preparing for human clinical trials after completing core safety studies, positioning itself as a leader in antiviral drug development amidst the ongoing pandemic.

NanoViricides, Inc. (NYSE Amer.:NNVC) announced the appointment of Brian Zucker, CPA to its Board of Directors effective November 13, 2020. Zucker brings over 30 years of CPA experience, specializing in the securities industry, and is currently a Partner at CFO Financial Partners. His addition aims to enhance the Board's Audit, Nomination, and Compensation Committees. The company is also focused on advancing its drug candidates, including one for COVID-19, pending further regulatory developments.

NanoViricides, Inc. (NNVC) filed its quarterly report for Q1 FY 2021, revealing approximately $22.0 million in current assets and $0.76 million in current liabilities as of September 30, 2020. The company reported no revenues and $29.98 million in shareholder equity. Net cash used in operating activities was $2.24 million. Notably, the company is progressing with its COVID-19 drug candidate, with plans to file an IND application following successful safety studies. The company anticipates sufficient cash to fund operations for over two years, supporting clinical trials for its drug candidates.

NanoViricides, Inc. (NNVC) recently filed its Annual Report on Form 10-K for the fiscal year ending June 30, 2020. The report reveals a significant cash position of approximately $14 million and net property and equipment assets worth $9.54 million. The company's net loss for the fiscal year was about $13.45 million. Despite pandemic setbacks, NanoViricides continues to advance its COVID-19 drug development, having declared candidates showing efficacy against multiple coronaviruses. Looking ahead, the firm intends to move drug candidates into clinical trials, although timelines are uncertain.

NanoViricides, a leader in antiviral therapies, announced the nomination of NV-CoV-1-R as a clinical candidate for treating COVID-19. This candidate combines the nanoviricide NV-CoV-1 and remdesivir, aiming to enhance treatment efficacy against SARS-CoV-2. The company emphasizes a rapid development timeline towards human clinical trials to secure emergency use approval due to the ongoing pandemic. Positive results may allow for reduced dosages of remdesivir. The success of NV-CoV-1-R depends on safety and effectiveness demonstrated in clinical settings.

NanoViricides, Inc. (NYSE American: NNVC) reported progress in its drug development against SARS-CoV-2 at the LD 500 investor conference on September 3, 2020. CEO Dr. Anil R. Diwan announced that the company is close to identifying a clinical candidate, leveraging its past work on coronaviruses. NanoViricides has shown effectiveness in animal studies and has completed necessary CMC studies for an IND application to the FDA. The company aims to create a treatment that blocks both re-infection and replication of the virus, with promising results from encapsulating remdesivir in its drug candidates.

NanoViricides, Inc. (NNVC) will present at the LD 500 investor conference on September 3, 2020, at 8:20 AM PDT. The company reports significant advancements in its COVID-19 drug development, claiming efficacy against various coronaviruses, with safe results in animal studies. They are drafting an Investigational New Drug (IND) application to the FDA and intend to re-engage in clinical trials for their shingles drug, NV-HHV-101, targeting a billion-dollar market. Their nanoviricide technology aims to effectively treat enveloped viral infections by mimicking cell surfaces.