NanoViricides Raises $2M to Advance Broad-Spectrum Antiviral NV-387

NanoViricides, Inc. (NYSE American: NNVC) has closed a registered direct offering with a single institutional investor, raising approximately $2 million in gross proceeds. The offering included 1,333,334 shares of common stock or pre-funded warrants, alongside accompanying warrants to purchase an equal number of additional shares, priced at $1.50 per unit. D. Boral Capital LLC acted as the exclusive placement agent. This capital infusion comes as the clinical-stage company advances its lead drug candidate, NV-387, a broad-spectrum antiviral designed to target RSV, COVID-19, Long COVID, Influenza, MPOX, and Measles. The company also plans to move NV-387 into Phase II human clinical trials, a critical step toward potential regulatory approval.

NanoViricides specializes in creating special purpose nanomaterials for antiviral therapy, leveraging its proprietary nanoviricide™ technology licensed from TheraCour Pharma, Inc. The company's pipeline includes NV-CoV-2 and NV-CoV-2-R for COVID-19, with the latter encapsulating remdesivir, an FDA-approved drug developed by Gilead. Additionally, NanoViricides is developing treatments for a wide range of viral diseases, including herpes, HIV, Hepatitis C, Dengue, and Ebola. The company holds exclusive licenses for several drugs targeting specific viruses, with plans to expand to RSV and poxviruses pending successful research. However, the company cautions that drug development is lengthy and capital-intensive, with no guarantee of clinical success.

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