(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
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.