NanoViricides Inc (NYSEMKT:NNVC) Shares Dipped on Annual Report


NanoViricides Inc (NYSEMKT:NNVC) shares were down 1.23% on Tuesday to $1.61 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.96 to $3.44. The company has a market cap of $95.43 million at 58.18 million shares outstanding.

NanoViricides Inc is a nano-biopharmaceutical development-stage company with several drugs in various stages of development. It focuses on research and clinical programs on specific anti-viral therapeutics and is engaged in the application of nanomedicine technologies to the issues of viral diseases. In particular,  its nanoviricide technology enables direct attacks at multiple points on a virus particle and  simultaneously enables attacking the intracellular reproduction of the virus by incorporating one or more active pharmaceutical ingredients within the core of the nanoviricide.

In a press release this week, NanoViricides Inc announced that it has filed its annual report and that it has sufficient cash to advance in clinical trials. It reported that, this year, the company has focused on advancing its pre-clinical drug candidates in the HerpeCide™ program into clinical trials, aiming to reach four different indications in this program.

Apart from that, NanoViricides Inc is also working on its preclinical candidates in the FluCide™ broad-spectrum anti-influenza program, which are Injectable FluCide™ for hospitalized patients with severe influenza and Oral FluCide for our-patients with influenza. The company is also working on DengueCide™ broad-spectrum anti- dengue virus therapeutic and HIVCide™ broad-spectrum anti-HIV therapeutic.

The company estimates that these drug programs address a market size in the range of $40 billion to $70 billion, ensuring that it is poised for strong growth. In line with this, NanoViricides Inc has moved operations to the new campus in Shelton, CT. This facility houses a production scale-up laboratory, a large chemistry synthesis lab, a state-of-the-art instrumentation lab for nanomedicines characterization, and a virology laboratory. As of June 30, 2016, the company had $24,162,185 in hand, and additional assets of $219,458 in the form of prepaid expenses, other assets and security deposits.

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