NanoViricides Raises $2M in Direct Offering, Reports $2M Q3 Loss
NanoViricides secured gross proceeds of ~$2 million by pricing 1.33 million common shares and full warrants exercisable at $1.75 each, with closing targeted around May 18. In Q3, the company posted a $2 million net loss, equivalent to a $0.09 per share deficit.
1. Registered Direct Offering
NanoViricides entered into an agreement with a single institutional investor to sell 1,333,334 common shares (or pre-funded warrants) alongside full warrants to purchase 1,333,334 shares. The gross proceeds of approximately $2 million are expected at closing around May 18, with each warrant exercisable at $1.75 and expiring in three years.
2. Third-Quarter Financial Results
For its fiscal third quarter, NanoViricides reported a net loss of $2 million, or $0.09 per share. This result reflects ongoing clinical-stage R&D expenses as the company advances its broad-spectrum antiviral NV-387 toward regulatory milestones.