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yep, sure sounds like a scam --
NanoViricides, Inc. (the "Company") reported today that Milton Boniuk, MD, the Caroline F. Elles Chair Professor of Ophthalmology at Baylor College of Medicine, and a Director of the Company has invested a total of $7 Million in the Company during the 2013 calendar year. Dr. Boniuk was the single largest investor with $3 Million in the recently concluded registered direct offering.
Previously, he had invested $4 Million in the Company’s convertible debenture financing concluded in February, 2013. Professor Boniuk has also invested in the Company in earlier rounds of financing. He made these investments both personally as well as from his charitable foundation and other interests. Professor Boniuk joined the Company’s Board as an independent director in May, 2013, at the request of the Company’s executives. He says that his confidence in the Company has only continued to grow as he sees the Company’s management and execution now from a closer perspective.
When asked why he has made these investments, he explained that “As I became familiar with the technology and the various on-going programs that the Company has, it became apparent that the potential was nothing short of amazing. Dr. Diwan explained to me how it would be possible to create a novel drug against a previously unknown virus in a matter of weeks. The NanoViricides team has demonstrated this capability by creating potential drug candidates for the MERS human Coronavirus in just a few weeks. I was impressed by the business acumen of the senior management as demonstrated by their ability to bring in six commercially important drug candidates in the Company’s pipeline, in a relatively short time frame. I was also impressed by their receiving orphan drug designation for the dengue/dengue hemorrhagic fever drug candidate, the interest shown by the British Government Agency in a collaboration on MERS and H7N9, as well as the progress they’ve made in the construction of the new R&D and cGMP pilot production facility. Although I have known Dr. Seymour professionally for many years, I was introduced to the Company by my sister, Vivien Boniuk, MD, also an ophthalmologist, who had performed the animal studies on the Company’s drug candidates for adenovirus and herpes virus infections of the eye.”
many small co. stocks do no regular after hrs trading, except perhaps following an earnings report.
of course delays matter, it's your constant linear extrapolation of the past into the future despite a host of obvious clues that things are different now, that seems to cloud your thinking.
not to mention the transcendent bliss aboard my frisky stallion!
neigh winnie...
Weedie is evangelizing the masses.
Once broad-spectrum FluCide gets FDA review and approval for market, in the event of a need to develop/optimize more for new mutant/strain of Influenza, how long would it take to get a new broad-spectrum FluCide through FDA review? A month? Two months?
I have already responded to you on this that the financial meltdown in 2008 drove emerging biotechs and many other small companies into survival mode. Financing for this kind of venture became virtually nonexistent. Even the best laid plans....
1) the clinical trial data would be coming in six months sooner, which will move the research forward that much faster (and speed up the US CTs because they can use data from the Aussie Phase I to begin planning the USA Phase II while the USA phase I has not yet even begun or even to modify the USA phase I
yes, I can see we will need to have a long chat in Hawaii....
there has been absolutely no indication from the company that they plan to start human trials prior to completing full tox studies.
In fact, even though apparently a stripped down version of tox can suffice for overseas trials, the indication has been that they will not be taking any short cuts on that front.
one must consider what are the odds this NA mutation becomes the dominant flu virus and that the NA mutated flu can enter the cell through something different than the sialic acid receptor (thus rendering FluCide useless)? I think pretty low, even if some of these NA mutations were found in previous flu viruses.
Paying people a living wage so that they can eat and shelter themselves and their families is socialist and doomed to failure?
Europe just imploded under the weight of socialist policies. Though I am tempted to elaborate I don't think this is the right forum and this will be my last post on the subject.
Europe is a living, breathing example of the failure of socialist policies.
mandating pricing is a socialist policy, yes.
I agree on the meddling and over-regulation with the current state of affairs. I was speaking to the ideal, if the gov't would get out of the way. Free markets are by far the most efficient arbitrators of capital.
letting the free market determine wages is far more productive... socialist policies, as we have seen, ultimately fail.
BK - wouldn't you expect things to improve markedly in that respect on the new exchange?
probably some short covering in there as well... a lot of intraday shenanigans.
Here is a bit on the agreement --
Note 4 – Significant Alliances and Related Parties
TheraCour Pharma, Inc.
Pursuant to an Exclusive License Agreement we entered into with TheraCour Pharma, Inc., (TheraCour), the Company was granted exclusive licenses in perpetuity for technologies developed by TheraCour for the virus types: HIV, HCV, Herpes, Asian (bird) flu, Influenza and rabies. In consideration for obtaining this exclusive license, we agreed: (1) that TheraCour can charge its costs (direct and indirect) plus no more than 30% of direct costs as a Development Fee and such development fees shall be due and payable in periodic installments as billed, (2) we will pay $25,000 per month for usage of lab supplies and chemicals from existing stock held by TheraCour, (3) we will pay $2,000 or actual costs, whichever is higher for other general and administrative expenses incurred by TheraCour on our behalf, (4) make royalty payments (calculated as a percentage of net sales of the licensed drugs) of 15% to TheraCour Pharma, Inc. and (5) agreed that TheraCour Pharma, Inc. retains the exclusive right to develop and manufacture the licensed drugs. TheraCour Pharma, Inc. agreed that it will manufacture the licensed drugs exclusively for NanoViricides, and unless such license is terminated, will not manufacture such product for its own sake or for others.
On February 15, 2010, the Company executed an Additional License Agreement with TheraCour Pharma, Inc. (“TheraCour”). Pursuant to the exclusive Additional License Agreement, the Company was granted exclusive licenses, in perpetuity, for technologies developed by TheraCour for the development of drug candidates for the treatment of Dengue viruses, Ebola/Marburg viruses, Japanese Encephalitis, viruses causing viral Conjunctivitis (a disease of the eye) and Ocular Herpes. As consideration for obtaining these exclusive licenses, we agreed to pay a onetime licensing fee equal to seven million shares of the Company’s Series A Convertible Preferred Stock (the “Series A Preferred Stock”). The Series A Preferred Stock is convertible, only upon sale or merger of the company, or the sale of or license of substantially all of the Company’s intellectual property, into shares of the Company’s common stock at the rate of four shares of common stock for each share of Series A Preferred Stock. The Series A Preferred Stock has a preferred voting preference at the rate of four votes per share. The Preferred Series A do not contain any rights to dividends; have no liquidation preference and are not to be amended without the holders approval. The issuance of the 7,000,000 shares was valued at their par value or $7,000.
TheraCour Pharma, Inc. may terminate these licenses upon a material breach by us as specified in the agreement.
Development costs charged by and paid to TheraCour were $1,359,100 and $876,860 for the nine months ended March 31, 2012, and 2011, respectively and $6,262,005 since inception. As of March 31, 2012, pursuant to its license agreement, the Company has paid a security advance of $256,284 to and held by TheraCour which is reflected in Prepaid Expenses. No royalties are due TheraCour from the Company’s inception through March 31, 2012.
Anil R. Diwan, President, and a director of the Company, is also a Director and President of TheraCour. Dr. Diwan owns approximately 70% of the common stock of TheraCour, which itself owns approximately 21.71% of the Common stock of the Company.
TheraCour owns 33,360,000 shares of the Company’s outstanding common stock as of March 31, 2012.
I wouldn't expect index buying until the next adjustment. The Russell 2000, for example, reconstitutes annually and would not be expected to adjust again until next June.
47% of the volume short today. Numbers in that range are fairly typical for the stock. I think this is primarily the MM's and I would be surprised to see that level of shorting continue after the uplist.
I must have missed those.
regarding potential price, don't confuse revenue with net income. P/S (Price to Sales) would be between 5 and 10.
A successful flu drug alone would bring a market cap in the general vicinity of $10B. (I've put up the Tamiflu/Relenza numbers before, drugs that are relatively ineffective). But that's in isolation.... it would also bring validation to the platform and you would have to start valuing the other candidates higher and figuring them into the market cap as well.
they are using standard FluCide for the H7N9 testing, so no additional development needed there.
it will be difficult to stockpile sufficient quantities from the small-scale pilot facility they are currently building. Diwan alluded to this in an email some time back. At some point in the not too distant future they will need a larger manufacturing facility... either their own or outsourced/partner. Assuming success in trials of course. They do have room for expansion at the Shelton facility and Dr. Seymour in the past has indicated a preference for going it alone. We shall see...
they have already explained it.
Unreal realism, I think that is a good plan!
I don't think so. The last OTC I know of that got listed, took over a year from start to finish. Not trying to stifle your enthusiasm, just being realistic, based on what I've seen.
If everything is perfect, takes 4-5 weeks.
Here is a link to SOME of the listing requirements for AMEX.
Which standard(s)do they qualify for?
It still takes the approval process. Does the fiscal year still end in June?
This definitely needed to be in place prior to human trials. I'd say the timing is just about right. They were laying the ground work for this with the recent appointments of independent members to the company's Board of Directors. Nice to have this out of the way as I'm sure they will have their hands full with more pressing matters as they pave the way for human trials.
My understanding is that commissioning of the new plant and production of the test batches will take about 6 months after completion of the plant toward the end of the year. So I think that projected milestone should be moved into 2014.
I think the bottom line is we are sitting at a pretty solid market cap for where we are. I did not expect to be up here (around $1.50 on the old shares) quite so soon. That's not to say we couldn't go much higher near term on a bout of enthusiasm after news of some sort. Especially if you look at the history on the stock and consider the progress that has been made.
nothing gets manipulated quite like Bulletin Board stocks.
yep, nobody with half a brain hits the bid like that with no regard for selling price unless they are attempting to slam the price down hard. They got caught with no opportunities to cover the last few days after a 3 day 50% move higher. Very reminiscent of that hard move down at the end of the day last Feb/Mar that drove the price to about 32 cents. I think we will see less of this after the uplist.
a positive Phase I/IIa is what will really launch the stock, well before any drug approval or commercial sales. That will provide the hockey stick in the growth curve of company development. At that point the stock would be tacking on dollars in a single day. The good news is that we could conceivably be at that point some time in 2014 or early 2015.
That one "sale" of 39,000 shares wasn't really a sale but payment in stock to a contractor who elected to take shares as fee for services (through TheraCour).
tox testing is not done on humans.
that presupposes that traders can consistently pinpoint the end of a downtrend and the end of an uptrend, which of course is fallacy.
Which still completely misses the point.
which was a total re-spin of this post by BK --
Do you really think someone would put $7 million into a company if tox studies were not just around the corner, or more likely, in your face?