NanoViricides, Inc. (NYSE American: NNVC) 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.
This capital infusion is critical 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 currently focused on moving 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.
The company’s pipeline also includes NV-HHV-1 for the treatment of shingles, and it is developing drugs against a range of viral diseases, including oral and genital herpes, viral eye diseases (e.g., epidemic keratoconjunctivitis and herpes keratitis), H1N1 swine flu, H5N1 bird flu, seasonal influenza, HIV, hepatitis C, rabies, dengue fever, and Ebola virus. NanoViricides holds a worldwide exclusive perpetual license to TheraCour’s nanomedicine technology for several drugs targeting specific human viral diseases, including HIV/AIDS, hepatitis B and C, rabies, herpes simplex virus (HSV-1 and HSV-2), varicella-zoster virus (VZV), influenza, Asian bird flu, dengue, Japanese encephalitis, West Nile virus, Ebola/Marburg viruses, and certain coronaviruses. The company intends to obtain licenses for RSV, poxviruses, and/or enteroviruses if initial research is successful.
Despite the promising pipeline, NanoViricides acknowledges the lengthy and capital-intensive nature of drug development. The company warns that there can be no assurance that any of its pharmaceutical candidates will show sufficient effectiveness and safety for human clinical development, or that successful lab results will lead to successful clinical trials or a commercial product. For more details on the offering, visit the press release at https://nnw.fm/2qH5W.
