NanoViricides Reports Financial Update and Advancements in Clinical Trials

NanoViricides, Inc., a pioneer in antiviral nanomedicines, has submitted its fiscal Q2 Form 10-Q to the SEC, detailing its current financial standings and progress in drug development. As of March 31, 2024, the company reported cash assets of approximately $6 million, with notable investments in manufacturing facilities. Comparatively, their assets have seen a slight decline from the previous year.

The company expressed concerns about its financial ability to sustain operations for the next 12 months without securing additional funding. In response, management plans to increase financial liquidity by mortgaging its headquarters and seeking partnerships for its clinical asset, NV-387.

NV-387, designed as a broad-spectrum antiviral, has shown promising results in treating RSV and other viral infections in preclinical trials. Following successful Phase I trials in India, NanoViricides plans to pursue Phase II trials in the U.S. for RSV, addressing an unmet need for treatments in infants and children.