NanoViricides, Inc. (NYSE American: NNVC) announced it has entered into a securities purchase agreement with a single fundamental institutional investor for the purchase and sale of 2,516,339 common shares or pre-funded warrants, along with warrants to purchase an equal number of common shares. The registered direct offering is expected to generate approximately $3.8 million in gross proceeds before placement agent fees and other expenses. Each full warrant has an exercise price of $1.75 per share and expires five and a half years after issuance. The offering is expected to close on or about July 27, 2026, subject to customary closing conditions, with D. Boral Capital LLC serving as exclusive placement agent.
The capital infusion is critical for NanoViricides as it advances its lead drug candidate, NV-387, a broad-spectrum antiviral designed to treat respiratory syncytial virus (RSV), COVID-19, Long COVID, influenza, and other respiratory viral infections, as well as MPOX/smallpox and measles. The company plans to move NV-387 into Phase II human clinical trials. Additionally, NanoViricides is developing NV-CoV-2 (API NV-387) for COVID-19, which does not encapsulate remdesivir, and NV-CoV-2-R, which encapsulates remdesivir within polymeric micelles. The company believes NV-CoV-2-R could be an approvable drug given remdesivir's FDA approval, provided safety is comparable.
NanoViricides' platform technology is based on TheraCour nanomedicine technology, licensed from TheraCour Pharma, Inc. The company holds exclusive perpetual licenses for several drugs targeting human viral diseases including HIV/AIDS, hepatitis B and C, rabies, herpes simplex virus (HSV-1 and HSV-2), varicella-zoster virus (VZV), influenza, Asian bird flu, dengue, Japanese encephalitis, West Nile virus, Ebola/Marburg viruses, and certain coronaviruses. The company also plans to obtain licenses for RSV, poxviruses, and enteroviruses pending successful initial research.
However, NanoViricides cautions that drug development is extremely lengthy and requires substantial capital. There is no assurance that any of its pharmaceutical candidates will show sufficient effectiveness and safety for human clinical development or lead to a successful product. For more details, the full press release is available at https://nnw.fm/2qH5W. Updates on NNVC can be found in the company's newsroom at https://nnw.fm/NNVC.
