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 in lieu thereof, together 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 will have an exercise price of $1.75 per share and expire five and a half years after issuance. The offering is expected to close on or about July 27, 2026, subject to customary closing conditions. D. Boral Capital LLC is serving as exclusive placement agent. To view the full press release, visit https://nnw.fm/2qH5W.
This capital infusion is critical for NanoViricides as it advances its lead drug candidate, NV-387, a broad-spectrum antiviral designed to treat respiratory infections such as RSV, COVID-19, Long COVID, Influenza, and other viral diseases including MPOX/Smallpox and Measles. The company is currently focused on moving 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 its polymeric micelles. The company believes that since remdesivir is already FDA-approved, NV-CoV-2-R could be an approvable drug if safety is comparable.
The proceeds from the offering will support these development efforts, which are part of a broader pipeline targeting numerous viral diseases, including oral and genital herpes, viral eye diseases, H1N1 swine flu, H5N1 bird flu, seasonal influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus. NanoViricides holds exclusive perpetual licenses to TheraCour nanomedicine technology for these applications. However, the company acknowledges the lengthy and capital-intensive nature of drug development and cautions that there can be no assurance of successful clinical trials or regulatory approval. For the latest updates, visit the company's newsroom at https://nnw.fm/NNVC.
