7 Best Nanotech Penny Stocks to Invest In

5. NanoViricides Inc. (NYSEAMERICAN:NNVC)

Number of Hedge Fund Holders: 1

Share Price as of February 11: $1.3

NanoViricides Inc. (NYSEAMERICAN:NNVC) is a clinical-stage nanobiopharmaceutical company that develops antiviral drugs. Its Nanoviricide platform technology uses nanotech to target and treat various viral infections. These include RSV, influenza, and COVID-19, with candidates ranging from oral formulations to injectable and inhaled treatments.

The company’s broad-spectrum antiviral drug candidate, NV-387, is its major focus. This drug is designed to mimic features of host cells and target viruses in a way that makes it difficult for them to mutate and escape its effects. NV-387 has shown promising activity against a variety of viruses in preclinical studies. These include MPOX/Smallpox, RSV, Influenza, and COVID. It has demonstrated superior activity compared to existing influenza drugs in animal models.

The company has completed a Phase Ia/Ib clinical trial in healthy subjects, with no reported adverse events. It’s now preparing to initiate Phase II clinical trials, prioritizing MPOX infection in Central Africa and RSV infection in the USA. As of September 30, 2024, NanoViricides Inc. (NYSEAMERICAN:NNVC) had ~$3.87 million in cash and cash equivalents. While it raised additional funds since the reporting period, the company publicly stated that its current funding is not sufficient to complete the planned Phase II trials through November 14, 2025.