NanoViricides, Inc. (NYSE:NNVC), closed the day at $6.45, a rise of 1.1 per cent and a stock price that brought its market cap to $45.41 million. The company closed the session with a trading volume of 496.75 thousand shares, below from its average daily trading volume of 3.65 million. Net income posted by the company in last 12 months was -$7.8 million.
NanoViricides, Inc. (NYSE: NNVC), on January 24, 2020, unveiled that it has completed an underwritten public offering (the “Offering”) with gross proceeds of $8.625 million before deducting underwriting discounts and other estimated offering expenses. The Offering included 2.5 million shares of the Company’s common stock, and 375,000 additional shares from the exercise of the underwriter’s option to purchase to cover over-allotments at the public offering price of $3.00 per share. Aegis Capital Corp. acted as sole bookrunner for the offering. The net proceeds to the Company after underwriter’s commission and agreed upon customary fees and expenses were approximately $7.78 million, before deducting the Company’s legal and accounting expenses related to the Offering. The Company intends to use the net proceeds to fund general corporate purposes and to fund ongoing operations and to repay certain accounts payable to related parties. This Offering was made pursuant to an effective registration statement on Form S-1 (No. 333-235306) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on January 09, 2020. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering have been filed with the SEC.
Sharing the market size for the treatment of shingles, company said that it is estimated to be around one billion dollars by various estimates. These estimates take into account the Shingrix® vaccine as well as existing vaccines. About 500,000 to 1million cases of shingles occur in the USA alone every year. The market size for our immediate target drugs in the HerpeCide™ program is variously estimated at billions to tens of billions of dollars. The Company believes that its dermal topical cream for the treatment of shingles rash will be its first drug heading into clinical trials. The Company believes that additional topical treatment candidates in the HerpeCide™ program, namely, HSV-1 “cold sores” treatment, and HSV-2 “genital ulcers” treatment are expected to follow the shingles candidate into IND-enabling development and then into human clinical trials. These additional candidates are based on NV-HHV-101, thereby maximizing return on investments and shareholder value.
When looking at performance, we see the stock demonstrating a weekly performance of 20.79% while keeping a monthly performance of 34.37%. Quarterly performance saw a drop of -23.67% but succeeded to record a yearly performance of 22.81% while showing YTD performance of 156.97% which was 176.82% for last six months.
The 52-week range for the stock was 1.27 – 19.20 that put its current price at a premium of 407.35% to the 52-week low price whereas it is trading at a discount of -66.41% to the 52-week high price. The Biotechnology company’s EPS for trailing 12 months is -$2.08 and it is estimated to be posting an EPS of $0.01 for the current quarter. The Beta number showed the stock is subject to risk 12% more than the market as a whole.
In the trailing twelve months, its return on assets (ROA) is -60% while ROE for the same period is -78.1%. The outstanding share count is 7.04 million shares but the size of available float is 6.31 million shares. The stock’s current price is trailing SMA-200 by 39.44% which is also -5.81% down from SMA-50. Reducing that period to a shorter term, we see the price is trailing 12.45% to the SMA-20. Volatility for the week was 17.92%, which was 11.40% in the previous month.