- The stock price of NanoViricides Inc (NYSEAMERICAN: NNVC) increased by over 40% pre-market today. This is why it happened.
The stock price of NanoViricides Inc (NYSEAMERICAN: NNVC) increased by over 40% pre-market today. The jump in the price appears to be driven by a report by Benzinga about the company reporting significant advantages gained by the remdesivir encapsulation within its lead COVID-19 candidate.
NanoViricides is developing two COVID-19 drug candidates including:
1.) The broad-spectrum antiviral drug candidate NV-CoV-2 where the potential for escape of virus variants is minimized by the design of the drug for the treatment of COVID-19 infected sick persons.
2.) And NV-CoV-2-R, which is a drug candidate comprised of holding remdesivir inside the polymeric drug candidate NV-CoV-2 by a process known as encapsulation. So NV-CoV-2-R is potentially capable of (1) direct attack on extracellular virus, to break the “re-infection cycle” by virtue of the activity of NV-CoV-2, and (2) attack on intracellular reproduction of the virus to break the “replication cycle” as has been validated for remdesivir. The encapsulation inside NV-CoV-2 is expected to protect remdesivir from the rapid bodily metabolism, thus raising the effective drug concentration in the body.
“The animal study showed that almost double the remdesivir remained intact in plasma when given as the encapsulated NV-CoV-2-R form, compared to the standard remdesivir formulation in Sulfobutylether-β-cyclodextrin sodium salt (SBECD), during the first day of dosing,” said Benzinga in its report. “Additionally, remdesivir accumulation was observed o n repeated dosing of NV-CoV-2-R.”
Following the fifth dose and following the standard remdesivir dosing, the circulating level of remdesivir in plasma was over 75% greater in the NV-Cov-2-R group compared to the remdesivir group. And the increased intact circulating level did not increase the toxicity. Based on this data, the NV-CoV-2-R drug candidate has been proven to minimize the loss of remdesivir to bodily metabolism.
About a week ago, NanoViricides also announced it has completed the process of licensing the human coronavirus field for drug development and commercialization from TheraCour Pharma. The company had executed a license agreement for the field comprising anti-viral treatments for coronavirus derived human infections with TheraCour Pharma on September 8, 2021. The licensed field includes antiviral drugs to treat SARS-CoV-2 and the variants that cause the COVID-19 disease resulting in a global pandemic. There was no upfront cash payment for the license and the compensation terms were generally consistent with prior licenses.
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