Site Sponsors
  • Park Systems - Manufacturer of a complete range of AFM solutions
  • Strem Chemicals - Nanomaterials for R&D
  • Oxford Instruments Nanoanalysis - X-Max Large Area Analytical EDS SDD
Posted in | Nanobusiness

Company Focusing on Developing Nanoviricides for Topical Anti-Viral Eye Drug and Anti-HIV Drug

Published on February 23, 2009 at 8:10 AM

NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), reported today that it has filed the quarterly report for its second financial quarter ending December 31, 2008. This document was filed on Friday, Feb. 20, 2009. It is available at http://idea.sec.gov/Archives/edgar/data/1379006/000114036109004687/form10q.htm.

Management believes that the Company is well poised for the current economic conditions. As of December 31, 2008, the Company had approximately $2.3 million in cash and current assets. The Company has no debt. The Company believes that its business model enables a very lean and efficient mode of operations. This is clearly demonstrated by the fact that we have advanced as many as seven drug candidates possessing industry-leading efficacies in our preclinical pipeline, while maintaining substantially low rates of expenditure. Due to various steps taken to reduce operating expenses, management believes that we have sufficient funds to support operations until the end of September 2009.

The Company is focusing its efforts on areas that are likely to produce rapid and remunerative results. Our current top priorities include nanoviricides for a topical anti-viral eye drug, an anti-HIV drug, and a drug against dengue and other related viruses.

The Company reported that it has obtained strong interest in several of its drug candidates and drug development programs from potential development partners. In particular, the Company has previously reported that it is in advanced stages of negotiations with a large pharmaceutical company regarding a topical eye drug for viral diseases of the external eye. This broad-spectrum nanoviricide drug candidate is expected to work against most viral causes of conjunctivitis and keratitis. The total market size for such a drug is expected to be in billions of dollars. There are no currently approved drugs to treat viral diseases of the external portion of the eye.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit