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. Each full warrant carries an exercise price of $1.75 per share and expires five and a half years after issuance. The transaction is expected to close on or about July 27, 2026, subject to customary closing conditions. D. Boral Capital LLC is serving as the exclusive placement agent.
This capital infusion is a critical step for NanoViricides as it continues to advance its broad-spectrum antiviral drug candidate NV-387, which is being developed 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 progressing NV-HHV-1 for shingles. The proceeds from this offering will support the company’s efforts to move NV-387 into Phase II human clinical trials, a pivotal milestone in the drug development process.
NanoViricides’ platform technology is based on the TheraCour nanomedicine technology, which enables the creation of special purpose nanomaterials for antiviral therapy. The company holds exclusive licenses to develop drugs for a wide range of viral diseases, including HIV/AIDS, hepatitis B and C, rabies, herpes simplex, influenza, dengue, Japanese encephalitis, West Nile virus, Ebola, and certain coronaviruses. The company’s business model relies on licensing technology from TheraCour Pharma Inc., and it has a memorandum of understanding with TheraCour for the development of drugs for all antiviral infections.
The offering underscores investor confidence in NanoViricides’ approach, particularly as the global need for effective antiviral treatments remains high. The company’s lead candidate, NV-387, is designed to work against multiple viruses, potentially offering a therapeutic option that could address emerging viral threats. Additionally, the company has developed NV-CoV-2 and NV-CoV-2-R, two drug candidates for COVID-19. NV-CoV-2-R encapsulates remdesivir within its polymeric micelles, and the company believes it could be an approvable drug given remdesivir’s existing FDA approval.
However, as with any pharmaceutical development, the path to market is lengthy and capital-intensive. The company acknowledges that there can be no assurance that any of its drug candidates will demonstrate sufficient effectiveness and safety in clinical trials. Despite these risks, the successful completion of this offering provides NanoViricides with the financial runway to pursue its clinical development goals.
For more information, visit the company’s newsroom at https://nnw.fm/NNVC and the full press release at https://nnw.fm/2qH5W.
