NanoViricides working on COVID-19 drug, eyes government backing if data positive

NanoViricides (NYSEMKT:NNVC) has reported ~$6.44M of current assets and current cash liabilities of ~$1.14M.

The net cash used in operating activities during the nine months period was ~$5.11M. The Company’s expenditures were in line with budget estimates.

NNVC had previously raised capital from public and direct offering.

With these cash inflows, the Company believes it has sufficient funding for its planned expenditures.

NanoViricides is working on developing a therapeutic drug for the treatment of COVID-19.

If the COVID-19 drug program produces positive results, the Company anticipates obtaining assistance from US government and international agencies for further testing and potential exploratory clinical use.

NNVC continues to advance its first drug candidate, namely NV-HHV-101 skin cream, for the treatment of shingles rash as its first indication, towards human clinical trials.

The Company is in the process of identifying and selecting appropriate partners and collaborators for the intended Phase1/2a human clinical studies for this drug candidate.

https://seekingalpha.com/news/3585268-nanoviricides-working-on-covidminus-19-drug-will-seek-government-backing-data-positive