NanoViricides to raise $2M in registered direct offering

NanoViricides (NYSE-A:NNVC) said it has entered into a securities purchase agreement with a single institutional investor for gross proceeds of approximately $2 million in a registered direct offering.

Under the terms of the agreement, the company will sell just over 1.3 million common shares, or pre-funded warrants in lieu thereof, together with accompanying warrants to purchase an equal number of common shares.

Each warrant carries an exercise price of $1.75 per share and will expire three years from the date of issuance.

The financing comes as the company reported cash and cash equivalents of approximately $3.38 million as of March 31, 2026.

NanoViricides said it has narrowed its near-term focus to a Phase II clinical trial of its lead drug candidate, NV-387, for the treatment of monkeypox in the Democratic Republic of Congo. The local regulatory agency, ACOREP, has already approved the trial, and the company said it is currently working on clinical trial site readiness.

In April, the US FDA granted NV-387 orphan drug designation for the treatment of measles. The company has also applied for orphan drug designation for MPox and smallpox indications and has filed for rare pediatric disease drug designation for measles, which could make it eligible for a priority review voucher upon potential drug approval.

NanoViricides said it has access to an at-the-market common stock facility with D Boral Capital and an available $3 million line of credit provided by founder and president Anil Diwan, on which no funds have been drawn.