on NanoViricides, Inc. (NASDAQ:NNVC)
NanoViricides Reports Annual Financials and Advances NV-387 to Phase II Trials
NanoViricides, Inc. announced the filing of its Annual Report for the fiscal year ending June 30, 2024. The company reported a cash balance of $4.97 million and total current liabilities of $1.36 million as of June 30, 2024. The net cash used for operating activities, including clinical trials for NV-387, was approximately $6.31 million.
NanoViricides raised $3.12 million through an At-the-Market offering and an additional $1.53 million post-period. Despite these raises, the company identified a substantial doubt about its ability to continue operations through September 30, 2025, without securing further funding.
Significant progress was reported for NV-387, a broad-spectrum antiviral drug. A Phase Ia/Ib clinical trial showed no adverse events, and NV-387 demonstrated efficacy against RSV, Influenza, MPOX, Smallpox, and COVID. The company plans to advance NV-387 to Phase II trials for RSV and MPOX.
NanoViricides is actively seeking additional funding through grants, partnerships, debt, or equity financing to support its ongoing operations and development plans.
R. E.
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