NanoViricides, Inc. (NYSE American: NNVC) has entered into a securities purchase agreement with a single institutional investor for a registered direct offering expected to generate approximately $2 million in gross proceeds. The offering involves the sale of 1,333,334 common shares, or pre-funded warrants in lieu thereof, along with accompanying warrants to purchase an equal number of common shares. The accompanying warrants carry an exercise price of $1.75 per share and a three-year term. The closing is expected on or about May 18, 2026, subject to customary conditions.
This capital raise is significant for NanoViricides as it continues to advance its clinical-stage antiviral drug NV-387, which has been granted Orphan Drug Designation by the U.S. FDA. NV-387 is a broad-spectrum antiviral based on the company's host-mimetic nanomedicine technology, designed to target viruses and their variants. The drug has shown efficacy in lethal animal infection models for Influenza, RSV, Coronaviruses, Monkeypox, Smallpox, and Measles. The Orphan Drug Designation could provide 7 years of market exclusivity, tax credits for clinical trial costs, and fee exemptions upon approval.
The funding will support the company's efforts to bring NV-387 to market, potentially offering a first-visit treatment for respiratory viral illnesses. The offering underscores investor confidence in NanoViricides' pipeline and its potential to address unmet medical needs in antiviral therapy. For more details, the full press release is available at https://ibn.fm/Z8Etj.
