NanoViricides reports Q2 EPS (14c) vs. (18c) last year

The company said, “We reported that, as of December 31, 2024, we had cash and cash equivalent current assets balance of approximately $3.96 Million. In addition, we reported approximately $7.17 Million in Net Property and Equipment assets. The strong P&E assets comprise our cGMP-capable manufacturing and R&D facility in Shelton, CT. The total current liabilities were approximately $1.18 Million. The net cash utilized during the six months ended December 31, 2024 was approximately $4.79 million. This included certain non-recurring expenditures including R&D expenditures in preparation for a Phase II clinical trial application. We raised approximately $4 million net of commission and certain expenses in an At-the-Market offering during the six months ended December 31, 2024. We have approximately $7.5 million available for cash operational expenses going forward that includes an ATM raise of approximately $0.47 million and an available line of credit of $3 million provided by our founder and President Dr. Anil Diwan. As such, we reported that we do not have sufficient funding in hand to continue operations through February 14, 2026, for our planned objectives that include a Phase II clinical trial of NV-387 for MPOX infection in Central Africa, a Phase II clinical trial of NV-387 for Viral Acute and Severe Acute Respiratory Infections, and Preparation and pre-IND filing for a Phase II clinical trial of NV-387 for RSV indication in the USA. We continue to re-prioritize our programs in line with available resources.”