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Posted On: 09/30/2024 5:00:29 PM
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NetworkNewsBreaks – NanoViricides Inc. (NYSE American: NNVC) Announces Filing of Fiscal 2024 Form 10-K
NanoViricides (NYSE American: NNVC), a development-stage company that is creating special purpose nanomaterials for antiviral therapy, filed its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, on September 27, 2024. The company reported cash and cash equivalents of $4.97 million, approximately $7.5 million in Net Property and Equipment (“P&E”) assets (after depreciation), and total current liabilities of approximately $1.36 million as of June 30, 2024. During fiscal 2024, the company utilized net cash of approximately $6.31 million for operating activities, including certain expenditures for Phase 1a/1b clinical trial of NV-387 and drug manufacturing costs for this clinical trial.
NanoViricides also raised net proceeds of $3.12 million in an At-the-Market (“ATM”) offering and an additional raise of approximately $1.53 million after June 30, 2024, under the ATM. The company’s available line of credit provided by founder and President Dr. Anil Diwan was increased to $3 million from $2 million.
The company noted the significant progress made in the regulatory advancement of NV-387, a potentially revolutionary antiviral drug, having completed a Phase Ia/Ib clinical trial in healthy subjects in December 2023. The company plans to advance NV-387 into Phase II clinical trials during fiscal 2025.
NOTE TO INVESTORS: The latest news and updates relating to NNVC are available in the company’s newsroom at http://nnw.fm/NNVC
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
NanoViricides (NYSE American: NNVC), a development-stage company that is creating special purpose nanomaterials for antiviral therapy, filed its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, on September 27, 2024. The company reported cash and cash equivalents of $4.97 million, approximately $7.5 million in Net Property and Equipment (“P&E”) assets (after depreciation), and total current liabilities of approximately $1.36 million as of June 30, 2024. During fiscal 2024, the company utilized net cash of approximately $6.31 million for operating activities, including certain expenditures for Phase 1a/1b clinical trial of NV-387 and drug manufacturing costs for this clinical trial.
NanoViricides also raised net proceeds of $3.12 million in an At-the-Market (“ATM”) offering and an additional raise of approximately $1.53 million after June 30, 2024, under the ATM. The company’s available line of credit provided by founder and President Dr. Anil Diwan was increased to $3 million from $2 million.
The company noted the significant progress made in the regulatory advancement of NV-387, a potentially revolutionary antiviral drug, having completed a Phase Ia/Ib clinical trial in healthy subjects in December 2023. The company plans to advance NV-387 into Phase II clinical trials during fiscal 2025.
NOTE TO INVESTORS: The latest news and updates relating to NNVC are available in the company’s newsroom at http://nnw.fm/NNVC
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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