Nanoviricides (NNVC) Target a Plethora of Viruses
In previous articles we have discussed the potential of nanotechnology enabled drug delivery systems such as those offered by Bind Therapeutics. We also noted that companies such as SkyePharma and Flamel were discussed as having potential but neither company has succeeded yet in launching a blockbuster nanotechnology drug. More importantly, we have highlighted the fact that over-the-counter companies often use the word “nano” in an attempt to gain credibility with investors often leading to disastrous results. One company that recently began trading on the NYSE Marketplace is Nanoviricides.
NanoViricides, Inc. (NYSEMKT:NNVC) was incorporated under the laws of the State of Colorado on July 25, 2000 as Edot-com.com, Inc. and was organized for the purpose of conducting Internet retail sales. On June 1, 2005, Edot-com.com, Inc. acquired NanoViricide, Inc., a privately owned Florida corporation and shortly thereafter changed its name to NanoViricides, Inc and listed on the Pink Sheets as “NNVC”. In June 2007 the Company moved to the OTC exchange. Last month the company announced a move to the NYSE Market and the stock price moved significantly upwards in response with a 1-year return of +165%:
Nanoviricides has no revenues as of yet and a current market cap of $262 million.
The company’s technology is refered to as Nanoviricides. These are designed to work by binding to and eliminating virus particles from the bloodstream, just as antibodies do, only potentially much better. A nanoviricide is designed to seek and attach to a specific virus particle, engulfing the virus particle in the process, thereby rendering it incapable of infecting new cells. Using this technology, the company is claiming to be developing drugs for H5N1 bird flu, seasonal influenza, HIV, Pink Eye, Hepatitis C, Herpes Sores, Genital Herpes, Rabies, Dengue Fever, and the Ebola Virus. None of these potential drug applications have progressed beyond animal studies.
In their latest 10-K the Company lists an issued patent and two pending patent applications as their intellectual property portfolio. Nanoviricides states that the issued patent is of an inferior technology and that the company will not utilize it. This leaves the two remaining patent applications as the intellectual property that will protect the “nanoviricide” product offering. The Company goes on to state that all of the drugs in their pipeline by themselves may be eligible for patent protection and that the Company plans on filing patent applications for protecting these drugs when they have definitive results from in-vitro or in-vivo studies.
Nanoviricides has no revenues, a questionable IP portfolio, and no partnerships with any major pharmaceutical companies. Given that, Nanoviricides claims their current cash on hand will sustain them until their first human trials. The company is highly speculative but certainly any signs of a revenue stream, progress towards human trials, or an announcement showing interest by a major pharmaceutical company should put the company on investors’ radar.