NanoViricides, Inc. (NYSE American: NNVC) announced it has entered into a securities purchase agreement with a single institutional investor to raise approximately $3.8 million in gross proceeds through a registered direct offering. 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 transaction is expected to close on or about July 27, 2026, subject to customary conditions, with D. Boral Capital LLC acting as exclusive placement agent.
This capital infusion comes at a critical time for the clinical-stage company, which is developing broad-spectrum antiviral therapies based on its proprietary nanoviricide technology. The company’s lead drug candidate, NV-387, is being developed for multiple respiratory viral infections including RSV, COVID-19, Long COVID, Influenza, and MPOX/Smallpox. NanoViricides also has NV-HHV-1 in development for shingles and is advancing NV-387 toward Phase II human clinical trials.
The company’s technology platform, licensed from TheraCour Pharma, Inc., involves creating special purpose nanomaterials that target viruses directly. NanoViricides holds exclusive licenses for several antiviral applications, including HIV/AIDS, Hepatitis B and C, Rabies, Herpes Simplex Virus, Influenza, Dengue, Ebola, and certain coronaviruses. The company’s business model relies on licensing this technology for specific virus verticals, a strategy established since its founding in 2005.
Among its key assets, NanoViricides has developed two COVID-19 drug candidates: NV-CoV-2 (API NV-387) which does not encapsulate remdesivir, and NV-CoV-2-R which encapsulates the FDA-approved drug remdesivir within polymeric micelles. The company believes the latter could be an approvable drug if safety is comparable to remdesivir, which is developed by Gilead.
The funding will support ongoing research and development efforts, though the company acknowledges the lengthy and capital-intensive nature of drug development. As stated in the announcement, there can be no assurance that any of the company’s pharmaceutical candidates will show sufficient effectiveness and safety for human clinical development or lead to a successful product.
For more information about NanoViricides and its pipeline, visit the company’s newsroom at https://nnw.fm/NNVC. The full press release detailing the offering is available at https://nnw.fm/2qH5W.
