NanoViricides, Inc. (NYSE American: NNVC) announced it 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. For more details, the full press release is available at https://nnw.fm/2qH5W.
This capital infusion is critical for NanoViricides as it continues to develop its lead drug candidate, NV-387, a broad-spectrum antiviral drug 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 currently focused on advancing NV-387 into Phase II human clinical trials. Additionally, NanoViricides is developing NV-CoV-2, a nanoviricide drug candidate for COVID-19 that does not encapsulate remdesivir, and NV-CoV-2-R, which encapsulates remdesivir within 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.
NanoViricides is also pursuing treatments for a range of viral diseases, including oral and genital herpes, viral eye diseases such as epidemic keratoconjunctivitis (EKC) and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal influenza, HIV, hepatitis C, rabies, dengue fever, and Ebola virus. The company’s platform technology is based on TheraCour nanomedicine technology, licensed from TheraCour Pharma, Inc. NanoViricides holds a worldwide exclusive perpetual license for several drugs targeting specific human viral diseases, including HIV/AIDS, hepatitis B and C, rabies, herpes simplex virus, varicella-zoster virus, influenza, dengue viruses, Japanese encephalitis, West Nile virus, Ebola/Marburg viruses, and certain coronaviruses.
Despite the promising pipeline, the company acknowledges the inherent risks in drug development, noting that the path to typical drug development is extremely lengthy and requires substantial capital. There can be no assurance that any of its pharmaceutical candidates will show sufficient effectiveness and safety for human clinical development or lead to a successful commercial product. Investors can find the latest news and updates on NanoViricides at https://nnw.fm/NNVC.
