NanoViricides, Inc. (OTCBB:NNVC) Rises After Promotion
NanoViricides, Inc. (OTCBB:NNVC) started the week strong by gaining more than 12% to close at $0.62. Intraday high went as far as $0.67 but took a step back at closing time. The volume of traded shares also exploded reaching nearly 1 million – ten times more than what the previous session saw.
NNVC is a development-stage company that trying to create a special purpose nanomaterials for viral therapy. They have targeted a wide range of viral diseases in the likes of swine flu, bird flu, seasonal Influenza, HIV, Hepatitis C, and the Ebola virus.
Despite being relatively high priced, the ticker has seen its fair share of volatility. In late February it dropped to $0.32 just to double in value a week later. Since then the stock has been fluctuating a lot but never reaching such drastic movements.
On the financial side of things NNVC is leagues ahead of most of the other pennystock development-stage companies. In their latest quarterly report for the period ending March 31 they disclosed :
- $15 million cash
- $16.9 million total current assets
- $4 million total current assets
- $3.6 million net loss
The company is not generating any revenues but that is to be expected. Having secured such a vast amount of funds due to private placements if the company’s stock, their next goal is to meet the FDA’s requirements for IND (investigational new drug).
One thing that investors should keep in mind is the new pump campaign that began yesterday. Some of the affiliates of Blue Wave Advisors – BeaconEquity, InvestorSoup and PennyStockFinder to be precise, send a round of alert emails regarding NNVC. LuckyStockPicks and PennyStockShark also decided to join in on the effort. All of the promoters apparently received no compensation for the campaign which means they will find their profit in a more subtle way.
