- The stock price of NanoViricides Inc (NYSEAMERICAN: NNVC) increased by 57.58%. This is why it happened.
The stock price of NanoViricides Inc (NYSEAMERICAN: NNVC) – a leader in the development of highly effective antiviral therapies based on a novel nanomedicine technology platform – increased by 57.58% as it went from a previous close of $4.22 to $6.65. Investors responding to the company reporting strong pan-coronavirus effectiveness of its two COVID-19 clinical drug candidates for which the Company is preparing a pre-IND application.
The NV-CoV-2 is the company’s broad-spectrum anti-coronavirus clinical lead drug candidate for the treatment of COVID-19 patients based on its nanoviricides platform. And the company is also developing NV-CoV-2-R, a drug treatment that combines the power of both NV-CoV-2 and remdesivir in a single drug that encapsulates and protects remdesivir inside NV-CoV-2.
Both NV-CoV-2 and NV-CoV-2-R are expected to work against most, if not all, coronaviruses and their variants, based on the company’s findings on their pre-clinical effectiveness. And NV-CoV-2-R is designed to attack both (1) the virus reinfection cycle outside cells, and (2) the virus replication cycle inside cells. NV-CoV-2-R is thus potentially a cure for COVID-19 infection by virtue of attacking the total virus lifecycle. Plus NV-CoV-2 and NV-CoV-2-R were found to be highly effective in comparison to remdesivir against two distinctly different coronaviruses in our new cell culture studies leading towards a pre-IND application and thereafter an IND submission for these COVID-19 drug candidates.
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