NanoViricides, Inc. (NYSE American: NNVC) announced it has entered into a securities purchase agreement with a single fundamental institutional investor for a registered direct offering expected to generate approximately $3.8 million in gross proceeds. The offering involves the sale of 2,516,339 common shares, or pre-funded warrants in lieu thereof, along with warrants to purchase an equal number of common shares at an exercise price of $1.75 per share, expiring 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. The funds are anticipated to support the company's clinical-stage development of its lead drug candidate, NV-387, a broad-spectrum antiviral designed to treat respiratory syncytial virus (RSV), COVID-19, Long COVID, influenza, and other viral infections, including MPOX and measles.
NanoViricides' nanoviricide platform leverages proprietary nanomaterials to target viruses directly. The company's pipeline includes NV-CoV-2, a nanoviricide drug candidate for COVID-19 that does not encapsulate remdesivir, and NV-CoV-2-R, which encapsulates remdesivir within polymeric micelles. The company believes the FDA-approved status of remdesivir may facilitate regulatory approval for NV-CoV-2-R if safety is comparable. Additionally, the company is developing treatments for herpes, viral eye diseases, HIV, hepatitis C, rabies, dengue, Ebola, and other viral pathogens.
The offering highlights continued investor interest in antiviral therapies amid ongoing global health challenges. NanoViricides holds exclusive licenses from TheraCour Pharma for several antiviral indications, including HIV, hepatitis B and C, rabies, herpes simplex, influenza, and coronaviruses. The company's technology is based on nanomedicine innovations licensed from AllExcel.
Investors should note the inherent risks in drug development, as outlined by the company: the path to commercialization is lengthy and capital-intensive, and there is no assurance that any candidate will demonstrate sufficient efficacy or safety for human clinical trials. For more details, the full press release is available at https://nnw.fm/2qH5W. Further updates on NanoViricides can be found in the company's newsroom at https://nnw.fm/NNVC.
