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Biotech / Medical : NNVC - NanoViricides, Inc.
NNVC 1.850-2.6%Nov 7 9:30 AM EST
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To: RoadyHD who wrote (12615)1/22/2020 11:31:40 AM
From: drkaz  Read Replies (1) of 12871
 
Correct - the need for financing IF the company is going to do the Phase I and all the things it needs to do to lead into that was pretty dire.


That $7.5MM is badly needed, though some goes straight to Dr Diwan. It gets the company to IND approval but not through Phase 1.
That's probably enough to get the process started for the Phase I,... but unless something interesting happens in the meantime to further bump up prices,... there is going to be a need for another influx before that ends.

I'm a bit disappointed in the drop and the 'low' share price for the offering,... but that has probably been in the works for a while and a few days ago that $3 per share would have seemed much less of a come-down. That Coronavirus spike made things interesting yesterday.
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