Developing New coronavirus treatment drug: NanoViricides up 45% before Opening

NanoViricides (NNVC.US) was up 45.42 percent at $17.45 in premarket trading Friday. The stock closed up 26.58 per cent at $12 yesterday, having risen 240 per cent since January 17. NanoViricides is a global leader in the development of highly effective antiviral therapies based on new nanodrug platforms. On January 30th the company confirmed that it was developing a treatment for a new coronavirus 2019 nCoV, according to information publicly disclosed in various industry journals and other articles.

New coronavirus treatment drug NanoViricides up 45% before session

“We have launched a treatment program for 2019nCOV, and our platform technology is probably the fastest way to develop new drugs for this viral disease,” said Dr. Anil R. Diwan, President and Executive Chairman of the company. Of course, we need the support of governments and international agencies such as the U.S. Centers for Disease Control and Prevention, the World Health Organization and the CDC to successfully develop these treatments, which, if developed, can reach patients in the fastest time possible. At this time, our company does not cooperate with any of the above organizations, these entities have not contacted us, nor have we asked us to develop a treatment for the virus. In the past, we have worked with the CDC and the American Academy of Medicine. We intend to cooperate as soon as possible to test alternative drugs. ”

It is reported that the new nCoV in 2019 and 2002-2003 SARS-CoV epidemic is closely related. In fact, it has been shown to use the same cell surface receptor, ACE2, as SARS coronavirus. Dr Diwan explained, “We have identified a number of potential candidate ligands in our chemical arsenal that bind to THE SARS coronavirus spike protein in the same way as the homologous receptor ACE2, using molecular simulation tools. We believe this means that we may have made significant progress in developing potential new coronavirus treatments. ”

NanoViricides is a leading company that applies nanotechnology to address the complex problems of viral diseases, developing and commercializing drugs for viral infections. The company is developing drugs that can treat H7N9, H5N1 avian influenza, other highly pathogenic influenza, pandemic influenza, seasonal influenza injections and oral medicines. These include DengueCide, an anti-dengue nano-antiviral agent being developed in the clinic, and HIVCide, an alternative drug against human immunodeficiency viruses.

The company last reported quarterly earnings data on November 15, 2019, and reported a Q3 earnings of $0.41 per share for fiscal 2019.