NanoViricides rang the The Opening Bell at the New York Stock Exchange on August 13, 2014 to celebrate its new cGMP manufacturing capability that enables the company to move its drug development programs such as the one of Ebola into the clinic rapidly
New York, NY / ACCESSWIRE / August 19, 2014 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued an update note on NanoViricides, Inc. (NYSE MKT: NNVC).
“We are pleased to see that NNVC recently announced the resumption of its Ebola drug development program and is executing on the company’s stated mission of a balance of doing good for humanity in concert with its commercial motivations. In the past, development of ancillary programs could not interfere with NNVC’s main Influenza development program. But now, given NNVC’s strong cash position and collaboration with Public Health England, UK, coupled with the unfortunate epidemic affecting Africa, the company feels the time is right to resume the program,” stated Ajay Tandon, Chief Executive Officer of SeeThruEquity. “We reiterate our price target of $7.21 per share for NNVC.”
Highlights of the note are as follows:
- FluCide(tm) program update. On July 11, 2014, NNVC President & Chairman Dr. Anil Diwan presented data at the 3rd Annual Influenza Research and Development Conference on the company’s first drug candidate, NV-INF-1, Injectable FluCide. Influenza A H1N1 infected animals treated with FluCide survived the full 21-day observation period, whereas animals treated with 40mg/kg/d oseltamivir phosphate (Tamiflu[r]) survived only 8 days in this highly lethal study. The highly lethal infectious dose of 1M viral particles at time 0 h followed by another 1M virus particles at 23h that was employed caused uniform lethality in 5 days in untreated mice. NV-INF-1 demonstrated an unparalleled 1,000-fold reduction in lung viral load compared to untreated animals on day 4 in this lethal animal model study. Moreover, the lung viral load was suppressed to this baseline level through 13 days or longer, with a slight increase on day 19. On day 4, the lungs from mice that were treated with NV-INF-1 showed a substantially lower lung weight (healthy) and displayed a markedly reduced presence of virus-induced lesions as compared to the untreated control and oseltamivir. In the safety/toxicity update, NNVC reported no significant changes in all observed parameters were found, even at the maximum feasible dose of approximately 2,700 mg/kg/d, repeatedly given for five consecutive days.
- Ebola program resumption. On August 4, 2014, NNVC announced the resumption of its Ebola drug development program. Originally started in conjunction with the United States Army Medical Research Institute of Infectious Diseases (USAMRIID) in October 2007, the program was halted when an approved grant application failed to receive funding from the Department of Defense (DOD). Given NNVC’s extremely strong current funding position and the worldwide Ebola threat, the company feels that the time is right to resume work on this program.
The note is available here: NNVC Update Note. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will also be available on these platforms.
Please review important disclosures on our website at http://www.seethruequity.com/.
About NanoViricides, Inc.
NanoViricides, Inc. (http://www.nanoviricides.com/) is a development stage company that is creating special purpose nanomaterials for viral therapy. The Company's novel nanoviricide(r) class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. The Company is developing drugs against a number of viral diseases including H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others.
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
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