NanoViricides Inc (NYSEMKT:NNVC) shares dipped 2.61% on Wednesday but could be due for a rebound sooner or later.
NanoViricides Inc (NYSEMKT:NNVC) shares dipped 2.61% on Wednesday to $1.12 and were unchanged in after-hours trading. Share prices have been trading in a 52-week range of $1.03 to $2.18. The company has a market cap of $72.89 million at 62.82 million shares outstanding.
NanoViricides Inc is a nano-biopharmaceutical company with several drugs in various stages of development. The company focuses on its research and clinical programs on specific anti-viral therapeutics. It is engaged in the application of nanomedicine technologies to the issues of viral diseases.
Its nanoviricide technology enables direct attacks at multiple points on a virus particle. In addition, the nanoviricide technology also simultaneously enables attacking the intracellular reproduction of the virus by incorporating one or more active pharmaceutical ingredients within the core of the nanoviricide. The nanoviricide technology is engaged in both attacking extracellular virus thereby breaking the reinfection cycle, and simultaneously disrupting intracellular production of the virus, thereby enabling complete control of a virus infection.
In a press release, NanoViricides Inc shared that Eugene Seymour, MD, MPH, CEO, will present information about the company and its progress towards human trials at the Planet Microcap conference at the Planet Hollywood Hotel later today. This Planet MicroCap Showcase brings together the most promising companies and the top dealmakers in MicroCap Finance for three days of company presentations, one-on-one meetings, and networking.
The company has previously reported that its broad spectrum anti-herpesvirus drug candidates were highly effective in treating HSV-1 infection in a lethal animal model. It has since improved on its Herpecide technology, which ncludes development of skin cream/lotion for the treatment of herpes labialis typically caused by HSV-1, genital lesions typically caused by HSV-2, shingles caused by reactivation of the human herpesvirus-3 and eye drops or gel for the treatment of herpes keratitis of the external eye.
In particular, NanoViricides Inc believes that its drug candidate for the topical treatment of shingles would have the fastest drug development path towards human clinical trials. It has also been working on scaling up production of this drug candidate with the goal of developing 500g to 1kg per batch production capability.
Apart from this, the company has eight different drugs in development, including four indications in the HerpeCide program. It is one of a few bio-pharma companies that has all the capabilities needed from research and development to marketable drug manufacture in the small quantities needed for human clinical trials. All the biological testing and characterization of these drug candidates continues to be performed by external academic or institutional collaborators and contract research organizations.
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