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Why NanoViricides Inc. (NNVC) stock could not keep its positive momentum in the after-hours on Tuesday?

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NanoViricides Inc. (NNVC) shares lost 4.47% in after-hours on Tuesday, July 27, 2021, and closed the daily trading at $4.70 per share.  Earlier in the regular trading session on Tuesday, NNVC’s stock gained 17.42%. NNVC shares have fallen 19.21% over the last 12 months, and they have moved up 18.27% in the past week. Over the past three months, the stock has gained 15.22%, while over the past six months, it has declined 17.99%.

Let’s see what are the recent news about NNVC?

NNVC Nanomachines concept

A few viruses NNVC is working toward attacking include Human Immunodeficiency Virus (HIV), shingles, and influenza. To stop these and other viruses from infecting and duplicating in humans, NanoViricides, Inc. developed what they call a nanoviricide. It is designed to block the virus from spreading within the body, thus eliminating the infection.

The idea is that the drug NanoViricides, Inc. developed would contain a nanoviricide (or nanomachine) that attracts the targeted virus. The nanomachine then attacks, traps and destroys the virus before it can replicate and invade the body further.

If this technology works as expected, it will change how the medical community approaches every virus on the planet, including the coronavirus and future viruses not yet discovered.

Positive results of NNVC two COVID-19 clinical drug candidates

On March 9, 2021, NanoViricides, Inc (NNVC) reported the strong results of its two COVID-19 clinical drug candidates in an animal model of coronavirus infection.

The Company is preparing a pre-IND application encompassing its two clinical drug candidates for the treatment of COVID-19 infected patients. Of these, NV-CoV-2 is the Company’s broad-spectrum anti-coronavirus drug candidate based on its nanoviricides® platform that is expected to be capable of attacking most, if not all, SARS-CoV-2 variants and other coronaviruses. In addition, the Company is also developing NV-CoV-2-R that combines (1) the power of NV-CoV-2 to attack and potentially dismantle the virus particles outside cells, and (2) the power of remdesivir to block further production of virus particles inside cells. Blocking the complete lifecycle of the virus in this manner could provide a cure for the viral disease.

NNVC filed its Quarterly Report

On May 17, 2021, NanoViricides, Inc filed its quarterly report for its third quarter of the financial year 2021 with the Securities and Exchange Commission.

  • The Company had no revenues for the quarter that ended on March 31, 2021.
  • NNVC had approximately $23.23 million of current assets (cash, cash equivalents, and prepaid expenses), and current cash liabilities of approximately $0.87 million on March 31, 2021.
  • At the end of the quarter, the Company had no debt, and Stockholder’s equity was approximately $31.89 million.
  • The company used $5.99 million in cash for operating activities during the quarter.

Conclusion

Well, as of this writing, there is no recent news or development for NNVC gains and losses on Tuesday. The company had few positive developments in the recent past which can keep its share price stable in the coming days.

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