NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), reports that the Company is well financed and its game changing anti-viral drug development programs are progressing successfully. As such, Management knows of no reason for the recent decline in stock price and associated volatility.
The Company announced that it has recently raised more than $4.3M in equity financing. The Company projects that this additional capital should be sufficient for at least 18 months of operations, or beyond December, 2010, at its current burn rate. In addition, as a result of strong and continued success in its anti-viral drug development programs, management believes that the Company has significantly improved access to the capital markets for additional funding that may be needed for financing IND studies.
“We now have four commercially important drugs in our pipeline, and sufficient funds to pursue further development,” said Eugene Seymour, MD, MPH, CEO of the Company, adding, “these drugs address a $40 billion market space.” The four commercially important drugs target HIV, all Influenzas, viral diseases of the external Eye, and Herpes Simplex viral infections including cold sores and genital herpes (HSV).
The Company has described the results from its preliminary anti-HIV animal model studies in a standard SCID-hu Thy/Liv mouse model in its annual report (filed on October 13, 2009). The anti-HIV nanoviricide drug candidates were found to be superior to a three-drug cocktail called HAART (for “highly active anti-retroviral therapy”) in all parameters tested. Significantly, the best nanoviricide drug candidate showed HIV-1 viral load reduction that was superior to that of animals treated with the oral HAART three-drug cocktail. This nanoviricide drug candidate also led to a significant increase in the proportion of human T lymphocytes that were positive for both CD4 and CD8 markers (CD4+CD8+ Double Positives or “DP”). This increase in DP human T cells in the nanoviricide treated mice was equal to or better than the oral HAART three-drug cocktail. Loss of human T cells caused by HIV was thus completely reversed by nanoviricide treatment.
Even more significantly the nanoviricide anti-HIV treatment was >25X (or >2,500%) more effective than the oral HAART treatment, on a drug load basis. The nanoviricide achieved these effects at a dosage level of only 150mg/kg, while the total HAART drug dosage was 4,200 mg/kg.
It is very important to note that no adverse events were observed in the nanoviricide treated mice, while the HAART-treated mice exhibited clinical signs of side effects.