NanoViricides, Inc. (NYSE American: NNVC) announced that independent analyst Robert LeBoyer of Noble Capital Markets has initiated research coverage on the company with an “Outperform” rating and a $6.00 price target. The report reviews NanoViricides’ lead programs, including its broad-spectrum antiviral candidate NV-387, along with longer-term development initiatives. The company noted that while it provided publicly available information and answered technical questions, the analyst independently developed all estimates, financial models and projections.
Separately, the company announced that President and Executive Chairman Anil R. Diwan participated in a “Fireside Chat” published by StockInvestor Daily’s IPO-Edge program. During the chat, Diwan discussed NanoViricides’ antiviral technology platform, the potential of NV-387 against multiple viral diseases and variants, the company’s regulatory progress—including FDA Orphan Drug Designation and its Rare Pediatric Disease Designation filing for measles—as well as the resurgence of infectious diseases such as measles, mpox and Ebola.
NanoViricides is a clinical stage company creating special purpose nanomaterials for antiviral therapy. Its lead drug candidate, NV-387, is a broad-spectrum antiviral drug being developed for the treatment of RSV, COVID, Long COVID, Influenza, other respiratory viral infections, MPOX/Smallpox infections, and even Measles. The company is currently focused on advancing NV-387 into Phase II human clinical trials.
In addition to NV-387, NanoViricides has developed NV-CoV-2 (API NV-387) for COVID-19, which does not encapsulate remdesivir, and NV-CoV-2-R, which encapsulates remdesivir within its polymeric micelles. The company believes that since remdesivir is already US FDA approved, its drug candidate encapsulating remdesivir is likely to be an approvable drug, if safety is comparable. Remdesivir is developed by Gilead.
The company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides’ platform technology and programs are based on the TheraCour® nanomedicine technology of TheraCour, which TheraCour licenses from AllExcel. NanoViricides holds a worldwide exclusive perpetual license to this technology for several drugs with specific targeting mechanisms for the treatment of various human viral diseases.
As is customary, the company must state the risk factor that the path to typical drug development of any pharmaceutical product is extremely lengthy and requires substantial capital. As with any drug development efforts by any company, there can be no assurance at this time that any of the company’s pharmaceutical candidates would show sufficient effectiveness and safety for human clinical development. Further, there can be no assurance at this time that successful results against coronavirus in the lab will lead to successful clinical trials or a successful pharmaceutical product.
The initiation of coverage by Noble Capital Markets with an “Outperform” rating and a $6 price target signals growing investor interest in NanoViricides’ broad-spectrum antiviral approach. The company’s ability to address multiple viral diseases with a single platform could have significant implications for public health, especially in the face of emerging infectious diseases and variants. The FDA Orphan Drug Designation and Rare Pediatric Disease Designation filing for measles underscore the potential of NV-387 to address unmet medical needs.
