NanoViricides, Inc. (NYSE American: NNVC) has entered into a securities purchase agreement with a single institutional investor for a registered direct offering, aiming to raise approximately $2 million in gross proceeds. The offering involves the sale of 1,333,334 common shares, or pre-funded warrants in lieu thereof, along with accompanying warrants to purchase an equal number of common shares. The accompanying warrants carry an exercise price of $1.75 per share and a three-year term, with the closing expected on or about May 18, 2026, subject to customary closing conditions.
The company plans to use the net proceeds for general corporate purposes and to advance its antiviral drug development pipeline. NanoViricides is a clinical-stage company focused on broad-spectrum antivirals based on host-mimetic nanomedicine technology. Its lead drug candidate, NV-387, has received Orphan Drug Designation from the U.S. FDA for the treatment of respiratory viral infections. This designation could provide seven years of market exclusivity, tax credits for clinical trial costs, and fee exemptions upon approval.
NV-387 has demonstrated effectiveness in lethal animal infection models for influenza, RSV, coronaviruses, monkeypox, smallpox, and measles. The company believes this drug could become a first-line treatment for patients presenting with respiratory viral illnesses. The completion of this offering is a step toward bringing NV-387 closer to clinical trials and potential commercialization.
For more details on the offering, visit the full press release at https://ibn.fm/Z8Etj. Additional information about NanoViricides is available in the company’s newsroom at https://ibn.fm/NNVC.
