Fri, Sep 27, 8:17 PM (84 days ago)
NanoViricides, Inc. reported no revenue for the fiscal year ending June 30, 2024, continuing its development stage with significant operating losses totaling approximately $8.3 million, slightly down from $8.6 million in the previous year. The company has focused on advancing its lead drug candidate, NV-387, which is in Phase Ia/Ib clinical trials for COVID-19, and plans to initiate Phase II trials for RSV treatment. Research and development expenses decreased to $5.4 million, while general and administrative expenses rose to $3.1 million due to increased professional services. The company has approximately $4.8 million in cash but anticipates needing additional funding to continue operations, as current resources will not suffice for planned activities over the next year. Risks include reliance on external collaborators, regulatory challenges, and competition in the antiviral market. The company has a strong pipeline targeting various viral diseases, including RSV and herpes viruses, and is actively seeking partnerships and non-dilutive funding to support its development efforts.