NanoViricides Secures $3.8 Million in Registered Direct Offering to Advance Clinical Programs

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 transaction is set to close on or about July 27, 2026, subject to customary conditions, with D. Boral Capital LLC acting as exclusive placement agent.

The capital infusion arrives at a critical juncture for the clinical-stage biopharmaceutical company, which is developing novel nanomaterials for antiviral therapy. NanoViricides' lead drug candidate, NV-387, is a broad-spectrum antiviral designed to treat respiratory syncytial virus (RSV), COVID-19, Long COVID, influenza, and other respiratory viral infections, as well as MPOX/smallpox and measles. The company is also advancing NV-HHV-1 for shingles and has developed NV-CoV-2 (API NV-387) and NV-CoV-2-R (NV-387 with encapsulated remdesivir) for COVID-19. According to the company, NV-387 is being readied for Phase II human clinical trials.

The offering underscores NanoViricides' need for capital to progress its pipeline amid the lengthy and capital-intensive nature of drug development. The company's business model relies on licensing technology from TheraCour Pharma Inc., with a memorandum of understanding for antiviral drug development. NanoViricides holds exclusive perpetual licenses for several drugs targeting HIV/AIDS, hepatitis B and C, rabies, herpes simplex, influenza, dengue, and coronaviruses, among others. The company notes that there can be no assurance of clinical success or regulatory approval for any of its candidates.

This financing event is significant for NanoViricides as it provides runway to advance NV-387 and other programs, potentially addressing unmet needs in antiviral therapeutics. The participation of a single institutional investor signals confidence in the company's technology and prospects. Investors can find the full press release at https://nnw.fm/2qH5W. For ongoing updates, visit the company's newsroom at https://nnw.fm/NNVC.