In a globally connected world, viruses can spread quickly. From influenza to dengue fever to herpes to HIV, viral contagions can spread at an alarming pace.
Trouble is, it’s difficult to identify permanent cures to viral diseases. For example, even though doctors completely understand how the flu virus works, millions of people still come down with a flu bug every year. And in some instances, the flu can have fatal consequences.
But little-known NanoViricides Inc (OTCBB:NNVC) may have “cracked the code” when it comes to viruses. The company still has a lot to prove, as is the case with any young biotech stock that trades for around $1. But it appears to be making progress, and if it can deliver on at least one of its several drugs in development, the upside could be significant.
Though the company has been around since 2005, the past year has been quite eventful, and NanoViricides Inc (OTCBB:NNVC) is seeing increasing trading volume and a rising share price.
A quick timeline of NanoViricides Inc (OTCBB:NNVC)’s recent progress:
— November 2012: The company hires Bioanalytical Systems, Inc. (NASDAQ:BASI) to conduct safety studies for its influenza drug, FluCide. The design of the study had previously been approved by the FDA. In late 2012, the company also identified a facility and management group that will oversee the construction of production lines that will provide a high volume of drugs to be used in clinical trials. The facility is expected to be ready by late 2013 or early 2014.
— January 2013: Early pre-clinical trials produce efficacy results that are stronger than Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) Tamiflu, the current most popular flu vaccine available for sale.
— February 2013: The company completes a $6 million capital raise, and along with $5 million raised in 2012, says it believes it has enough cash on hand to fund operations through the end of 2014 while pursuing initial human clinical trials.
— June 2013: The company files for orphan drug status with the Food and Drug Administration for its DengueCide drug to treat dengue fever and receives that designation from the FDA in mid-August. A similar application with the European Medicines Agency is filed in July and approved in September.