NanoViricides Narrows 9-Month Net Loss to $6.0M; Raises $7.3M Capital
NanoViricides, Inc. reported a reduced net loss of $6.0 million for the nine months ended March 31, 2026, compared to $7.4 million in the prior year. The company significantly increased its cash and cash equivalents to $3.2 million, primarily through financing activities including a $5.4 million Registered Direct Offering and $1.9 million from ATM sales. Despite these capital raises, management expressed substantial doubt about the company's ability to continue as a going concern for at least the next 12 months due to anticipated continued losses and no foreseeable revenues. The company is progressing with its NV-387 antiviral drug, anticipating the Phase Ia/Ib clinical study report submission and planning for Phase II trials for MPox.
Key Highlights
- Net loss for nine months ended March 31, 2026, narrowed to $6.0M from $7.4M YoY.
- Net loss per common share improved to $(0.31) from $(0.50) YoY.
- Cash and cash equivalents increased to $3.2M as of March 31, 2026.
- Raised $5.4M net from a Registered Direct Offering and Private Placement.
- Generated $1.9M net from At-The-Market (ATM) common stock sales.
- Management expressed substantial doubt about the company's going concern.
- Total operating expenses decreased to $6.1M from $7.5M YoY.
- CEO's Line of Credit increased to $3.0M, extended to December 2027.
Price Impact
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