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.