Stock Alert: NanoViricides Stock Up 37% In Premarket

(RTTNews) - Shares of NanoViricides Inc. (NNVC) are rising over 37% in pre-market today, after the company announced that it has developed drug candidates that have demonstrated very high anti-viral effectiveness in cell culture studies against multiple coronaviruses.

The company noted that two of the tested nanoviricides drug candidates were highly effective in cell culture assays against multiple coronaviruses that infect humans. In particular, they were several-fold more effective than favipravir (aka T-705), against the tested viruses. Favirpravir is a broad-spectrum nucleoside-like analog drug that is in clinical testing against SARS-CoV-2, originally developed by Fujifilm.

Prior to filing for human clinical studies, NanoViricides plans on conducting studies to further determine the effectiveness against SARS-CoV-2, and perform certain animal studies for safety/toxicology, the company said.

The stock has been trading in the range of $1.27 - $19.20 for the past one year, and closed Monday's trade at $7.11, up 81 cents or 12.86%. NNVC is currently trading at $9.80, up $2.69 or 37.83% in the pre-market session.