NanoViricides, Inc. (NYSE American: NNVC) has entered into a securities purchase agreement with a single fundamental institutional investor for a registered direct offering expected to generate approximately $3.8 million in gross proceeds. The offering involves the sale of 2,516,339 common shares or pre-funded warrants, along with warrants to purchase an equal number of common shares at an exercise price of $1.75 per share, expiring five and a half years after issuance. The transaction is expected to close on or about July 27, 2026, subject to customary conditions, with D. Boral Capital LLC serving as exclusive placement agent.
This capital infusion comes at a critical time 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 is also developing NV-CoV-2 and NV-CoV-2-R, two drug candidates for COVID-19. NV-CoV-2 is a nanoviricide that does not encapsulate remdesivir, while NV-CoV-2-R encapsulates remdesivir within polymeric micelles. Given that remdesivir is already FDA-approved, the company believes NV-CoV-2-R could be approvable if safety is comparable. Additionally, NanoViricides is targeting shingles with its drug candidate NV-HHV-1.
The funds from this offering will support the company's ongoing efforts to advance NV-387 into Phase II human clinical trials. The company's platform technology, based on TheraCour nanomedicine, holds exclusive perpetual licenses for multiple antiviral indications, including HIV/AIDS, hepatitis B and C, rabies, herpes simplex, influenza, dengue, Ebola, and certain coronaviruses. The company also intends to pursue licenses for RSV, poxviruses, and enteroviruses pending successful initial research. For more details, the full press release is available at https://nnw.fm/2qH5W.
NanoViricides' business model relies on licensing technology from TheraCour Pharma Inc., with whom it has a Memorandum of Understanding for developing antiviral drugs. However, the company acknowledges the lengthy and capital-intensive nature of drug development, cautioning that there is no assurance of success in clinical trials or eventual product approval. The latest updates on the company can be found in its newsroom at https://nnw.fm/NNVC.
