NanoViricides, Inc. (NYSE American: NNVC) has entered into a securities purchase agreement with a single fundamental institutional investor for a registered direct offering, the company announced. The offering is expected to generate approximately $3.8 million in gross proceeds before placement agent fees and other expenses.
The transaction involves the 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. Each full warrant has an exercise price of $1.75 per share and expires 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.
NanoViricides is a clinical stage company developing special purpose nanomaterials for antiviral therapy. Its lead drug candidate is NV-387, a broad-spectrum antiviral drug being developed for RSV, COVID, Long COVID, Influenza, and other respiratory viral infections, as well as MPOX/Smallpox and Measles. The company also has NV-HHV-1 for Shingles, and is focused on advancing NV-387 into Phase II human clinical trials.
The company's nanoviricide technology is based on intellectual property licensed from TheraCour Pharma, Inc. NanoViricides holds exclusive, sub-licensable, field licenses to drugs developed in several licensed fields. The company's business model relies on licensing technology from TheraCour for specific application verticals of specific viruses, established at its foundation in 2005.
In addition to NV-387, the company has developed NV-CoV-2 (API NV-387) for COVID-19 that does not encapsulate remdesivir, and NV-CoV-2-R, which encapsulates remdesivir within its polymeric micelles. Since remdesivir is already FDA approved, the company believes NV-CoV-2-R is likely to be approvable if safety is comparable.
The capital raised from this offering will support the company's drug development efforts, which include a pipeline targeting oral and genital Herpes, viral eye diseases, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides holds exclusive perpetual licenses for several drugs targeting specific human viral diseases, including HIV/AIDS, HBV, HCV, Rabies, HSV-1 and HSV-2, VZV, Influenza, Dengue, Japanese Encephalitis, West Nile, Ebola/Marburg, and certain Coronaviruses.
The company cautions that the path to drug development is lengthy and requires substantial capital, and there is no assurance that any of its candidates will show sufficient effectiveness and safety for clinical development or result in a successful product.
