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FAQ: NanoViricides $6 Million Registered Direct Offering and Corporate Overview
TL;DR
NanoViricides secured $6 million in funding, providing capital advantage to advance their broad-spectrum antiviral drug candidates ahead of competitors.
NanoViricides raised $6 million through a registered direct offering of 3.57 million shares at $1.68 per share with accompanying warrants exercisable at $1.75 and $2.00.
This funding enables NanoViricides to advance antiviral treatments for diseases like RSV, COVID, and influenza, potentially improving global health outcomes.
NanoViricides is developing nanoviricide technology that could treat multiple viral infections using special purpose nanomaterials licensed from TheraCour Pharma.
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NanoViricides has closed a $6 million registered direct offering of 3,571,429 shares at $1.68 per share with a healthcare institutional investor, along with concurrent private placement of Series A and Series B warrants.
The company plans to use the net proceeds for working capital and general corporate purposes to support its antiviral drug development programs.
Series A warrants have an exercise price of $1.75 and expire in two years, while Series B warrants have an exercise price of $2.00 and expire in 5.5 years, with both becoming exercisable after six months.
NanoViricides is a publicly traded clinical stage company creating special purpose nanomaterials for antiviral therapy, developing nanoviricide drug candidates based on technology licensed from TheraCour Pharma.
The lead drug candidate is NV-387, a broad-spectrum antiviral drug planned for development as a treatment for RSV, COVID, Long COVID, Influenza, other respiratory viral infections, and MPOX/Smallpox infections.
The company is developing NV-HHV-1 for the treatment of Shingles and has programs targeting oral and genital Herpes, viral eye diseases, various influenza strains, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus.
The company is currently focused on advancing NV-387 into Phase II human clinical trials, though it cannot project exact IND filing dates due to dependence on external collaborators and consultants.
A.G.P./Alliance Global Partners acted as the sole placement agent for this registered direct offering and concurrent private placement.
The company's business model is based on licensing nanoviricide technology from TheraCour Pharma for specific antiviral applications, with exclusive perpetual licenses for numerous viral diseases including HIV, Hepatitis, Influenza, Ebola, and Coronaviruses.
Curated from InvestorBrandNetwork (IBN)
