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he was referring to the purchase by Dr. Boniuk, another one of those obvious clues.
you don't suppose an insider has any idea of how tox is tracking?
Good thing they got that before the Syrians could.
absolutely roc.
that is an index, not an exchange.
They have applied to uplist on NYSE/Amex.... NASDAQ not a player at this time.
yes, he deserves an honorary spot at the tub!
Worth repeating I think... quite a vote of confidence by Dr. Boniuk --
Echo -
no, the listing requirement is $2.
Yep, that's why an insider has ponied up for $7M worth of stock this year.
Well, now that the cat's out of the bag!
What are you hearing?
I don't see how outside of a fixed fee for services.
edit-- BK may have identified a recurring revenue source.
BASi has been contracted to do the tox studies.
http://www.nanoviricides.com/press%20releases/NanoViricides%20Signs%20Agreement%20with%20BASi%20for%20Toxicology%20and%20Safety%20Studies.html
ok, I see standard 4 (no earnings/revenue) here... thanks BK.
https://listingcenter.nasdaqomx.com/assets/initialguide.pdf
which criteria does it meet?
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards --
Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
Listing Standard No. 2
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Listing Standard No. 3
Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million.
I think there are revenue issues with a NAZ listing.
#3, it will happen soon.
not sure what you are saying, they meet the minimum listing requirements now.
the stock does not need to go higher to qualify for listing on Amex, that's why they did the reverse split. The minimum price requirement for Amex is $2.00. The uplist should happen soon (by the end of the month).
which is a complete red herring. If your typical "small molecule drug developer" would have been sufficient, they wouldn't be on the cusp of a major paradigm shifting scientific breakthrough.
you explicitly said expense to build which of course is a much different proposition than a lease after the fact.
from post below --
So you had big news this past week, the issuance of a patent that had been in application since 2006. Can you talk about the significance of that?
NanoViricides Announces Issuance of a Fundamental Patent in the USA
WEST HAVEN, CONNECTICUT -- May 7th, 2012 -- NanoViricides, Inc. (OTC BB: NNVC) (the "Company") announced today that a fundamental patent, on which the nanoviricides® technology is based, is due to be issued in the USA on May 8, 2012. The issuance notification was received from the US Patents and Trademarks Office last week.
The US Patent (No. 8,173,764) is granted for "Solubilization and Targeted Delivery of Drugs with Self-Assembling Amphiphilic Polymers." It will be issued on May 8, 2012. The patent term is expected to last through October 1, 2026, including an anticipated extension, with the possibility of further extensions in compensation for time spent in clinical trials.
The US Patent has been allowed with a very broad range of claims to a large number of families of chemical structure compositions, pharmaceutical compositions, methods of making the same, and uses of the same. The disclosed structures enable self-assembling, biomimetic nanomedicines. NanoViricides, Inc. holds exclusive, perpetual, worldwide licenses to these technologies for a broad range of antiviral applications and diseases.
Based on international PCT application number WO 2007/1084126, which was filed in 2006, corresponding patents have also been issued in New Zealand and South Africa, and as a regional (OAPI) patent valid in sixteen other African states. Additional issuances are expected in Europe, and in several other countries around the world.
“It is rewarding to see that the US Patent and Trademark Office (USPTO) recognized the novelty and the broad utility of the entire ‘pi-polymer’ class of materials as defined by the inventors, and granted a patent with sufficient scope to protect the whole of the invention, for all foreseeable pharmaceutical applications, including the nanoviricides® anti-viral substances,” said Dr. James Demers, PhD, JD, now with Gotham Patent Services LLC, who represents the inventors before the USPTO and directs the international patenting effort. He further added, “The application was drafted so as to describe and claim Dr. Diwan's invention, on which the nanoviricides® technology is based, as broadly as possible, and we anticipate that other countries around the world will also grant claims similar to those allowed by the USPTO.”
“We are very pleased with the validation of the novelty of our technologies,” said Dr. Diwan, President and Chairman of NanoViricides, Inc., adding, “This patent establishes a fundamentally new direction in developing biomimetic approaches. It creates a germane field within polymeric micelle technologies, introducing structures that we call pi-polymers. These are the structures that enable the creation of a nanoviricide® with its unique biomimetic features. These biomimetic features allow us to make the nanoviricide look like a host-cell membrane to the virus, with the goal of deceiving the virus to land on it and thereupon destroy itself.” “Issuance of this patent with its broad set of claims validates the strong leadership position we have in biomimetic technologies,” said Dr. Jayant Tatake, Vice-President of R&D of the Company.
Commenting on the patent award, Dr. Eugene Seymour, MD, MPH, Chief Executive Officer of the Company, stated, “We always knew that this is a ground-breaking technology. We believe, based on the tremendous effectiveness that our nanoviricides drugs have shown against a large number of viral diseases in several very stringent animal models, that this technology spells a fundamental change in how medicines will be developed in the future. For example, our anti-influenza clinical candidate, Flucide™, was developed using the nanoviricide® technology, and has exhibited surprisingly high levels of effectiveness in animal studies, far surpassing the existing drugs. Our expectation that FluCide will work well in humans is based upon the results of these animal studies that indicate (1) extremely high treatment effectiveness in inhibiting the cycle of infection, virus expansion and spread of infection and, (2) the significantly long lasting effects of the drug treatment even after the drug is discontinued.”
The patents are being issued to the inventors Anil R. Diwan, PhD, Jayant G. Tatake, PhD, and Ann L. Onton, all of who are among the founders of NanoViricides, Inc. The patents have been assigned to AllExcel, Inc., the Company at which the ground-breaking work was performed. AllExcel, Inc. has contractually transferred this intellectual property to TheraCour Pharma, Inc.
NanoViricides, Inc. holds exclusive worldwide licenses to these technologies for a broad range of antiviral applications and diseases that include All Influenzas including Asian Bird Flu Virus, Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Herpes Simplex Virus (HSV), Dengue viruses, Rabies virus, Ebola/Marburg viruses, Japanese Encephalitis virus, as well as viruses causing viral Conjunctivitis (a disease of the eye) and ocular herpes.
Yes.
One of the PR's said it would be going back to NNVC after 20 days.
the cheap stuff would be required first to kill everything growing in the Kahuna's tub.... then a Dom chaser.
Absolutely. When somebody with intimate knowledge of the company (and in this case sombebody who will probably be overseeing the development of EKCCide) steps up, I think it speaks volumes.
On the part of Dr. Boniuk, I would call that a bonified insider BUY. Nice to know the offering is in strong hands.
stocks often have a tendency to gravitate toward the offering price. It's very likely most of the damage has already been done. Human trials will make or break the stock, and the company is now in a stronger position as it prepares to enter those trials.
take no prisoners.
So what's the point? If you don't do an analysis of penny stocks that includes differentiating an ascending stock that is uplisting as a reason for reverse split from a serially declining stock that is trying to save one's ass on an exchange, it is meaningless to say, "oh it's a penny stock, therefore reverse splits are bad."
Oh no, here we go again. Leif will handle that one for me....
Forz -
You must have the wrong board, no positive examples are allowed here.
right, not sure what you are trying to say. I mentioned that the money would be used to expedite the other candidates. True statement... parallel development will be running down the cash balance faster and they need to maintain 2yrs worth to satisfy listing requirements. The additional money is to be spent developing the other candidates.
uhh, did you read the press release? They explained clearly why the change...with Dengue orphan approval they are now expediting that one into clinical trials in parallel with FluCide. That will cost more than the initial plan to run FluCide first, by itself. They also want to expedite development on the rest of their candidates.
Regarding the reverse split it seems you just want to cling to the "all non-S&P reverse splits are bad" mantra with zero analysis of how this might be different than the usual case.
so the stock is trading where it was a month ago but the company now has an extra $9M+ to expedite the other candidates and the stock will be on a major exchange with all the accompanying benefits that entails. Some disaster.