NanoViricides Secures $6 Million Through Securities Offering
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NanoViricides, Inc. raised $6 million through a securities purchase agreement with an institutional investor, involving a registered direct offering and private placement. The funds will be used for working capital and corporate purposes, enhancing its drug development efforts. Despite weak financial performance and negative earnings, the company shows short-term positive momentum. NanoViricides specializes in antiviral therapy, with lead drug candidates targeting viral infections like RSV, COVID-19, and Shingles.
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