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What caused this stock to spike was stupid people thinking NNVC had a cure for Wuhan coronavirus and Dr. Diwan encouraging them in this false belief by giving the usual interview where he claims he can pop out a cure to any viral disease in a few weeks. The human comedy that is Nanoviricides is continuing to chug along.
It will get there. There are still some people who don't want to accept that they had better sell now if they don't want to see bigger losses.
Why would it?
Only about 5 bucks to go before this stock is fairly priced.
No "cure" was reported. Just a claim that some existing antivirals could inhibit the virus. So this might help some people, or it might not.
That post should be pinned.
There are massive amounts of money to be made on people's stupidity, but you have to be smart to know how to do it, and I'm never that smart.
When I first heard about the Wuhan coronavirus it never occurred to me to buy back into NNVC because I knew perfectly well they have no 'cide for any corona virus and I knew that to develop such a 'cide, get it through tox, get it through Phase I trials, get it through Phase II trials, and get it through Phase III trials, would take a minimum of 3 years for a well managed and well funded company, and NNVC has never been well managed and is no longer well funded. The corona virus pandemic will be well over long before such a 'cide could possibly be made available.
But I failed to take into account the most fundamental constant of human civilization -- widespread stupidity. I should have bought NNVC, knowing that fools would fall for the latest Diwan hype, and then sold around $16. I could have made back all my earlier losses.
Lesson learned. Be on the lookout to take advantage of the next wave of human stupidity.
Why do you think NNVC has any connection whatsoever to Wuhan corona virus? They have no coronacide, and could never have one tested and available for use in time for the current pandemic.
Some people are very silly.
Just read old posts on this board. It's a long, sad tale.
As an example of this, a few years back, after the first reverse split, the listing of the stock, and a brief pop above $6 followed by a long slow decline, perma bear Rawnoc predicted "2 clams". All the longs hated him. Well, $2 came and went. Today, another reverse split later, that would be $40. Who among us wouldn't be backing up the truck if we though $40 was coming again?
Yesterday's bears are today's wild eyed optimists.
I will give credit where it's due.
Dr. Diwan always manages to raise more money just before NNVC runs out of cash, always of course at the cost of diluting your shares. The company now has enough cash to limp along for another year. So bankruptcy has not come as soon as I expected.
The biggest NNVC pessimists 5 years ago were optimistic compared to the biggest optimists today.
I first bought a small position in NNVC many years ago at $1. But that was two reverse splits ago. What price would that be today?
$70.
Yup. I might get back in if it looks like Shinglescide will actually get into phase I trials, but certainly not while the stock has been hyped up with the Wuhan coronavirus nonsense.
It looks like the smart money has learned to take profits any time this stock gets up above $15.
Do you have any idea of how often we old timers have seen those Diwan hype videos? Everything he said in that interview he's said a hundred times before, years ago. The fact remains, NNVC has no nanoviricide for Wuhan disease, or, for that matter, any other coronavirus. (There's no Commoncoldcide.) NNVC has yet to advance any nanoviricide as far as phase I trials. In fact they've never finished pre-clinical tox testing for any 'cide. Maybe they'll complete Shinglescide tox testing before the year is out, if so, that will be a first for NNVC. The Coronavirus pandemic will have burned out well before NNVC has a 'cide for it to test.
Remember, NNVC actually does have a 'cide for influenza, which is at least as serious a problem as Wuhan disease. But they never even got Flucide all the way through tox testing, never mind phase I trials.
You realize of course that NNVC has no treatment for coronavirus?
You may as well buy an oil stock for all it has to do with the Wuhan virus.
Yes, will the rubes keep bidding up this stock because of a disease NNVC doesn't even have a drug for? Or will the smart money make money shorting this dog? Stay tuned to find out.
Yes, more people are killed by influenza each year than are likely to be killed by the corona virus. And NNVC has had a Flucide product for years, which they've never gotten through pre-clinical tox testing. Yet rubes are bidding up this stock because of corona virus, when NNVC doesn't even have a coronacide to test.
This stock is a lot more entertaining now that I know longer own any shares.
Well, somebody has a drug to test against the coronavirus. Of course that company is not NNVC.
https://www.scmp.com/tech/science-research/article/3048579/coronavirus-case-us-treated-experimental-gilead-drug-may-spur
A statement like that is so close to fraudulent that is should be legally actionable.
Yes, there are probably some big trading programs taking advantage of the panic to make money off the rubes. What's really weird is how this seems to be set off by the corona virus panic, when NNVC has no coronacide and could not possibly develop one until long after the current pandemic is over.
Remember how years ago NNVC's stock price would spike whenever some nasty variant of the flu hit somewhere? At least they have a Flucide drug under development. Even so, Flucide, developed many years ago, has yet to get through pre-clinical toxicity testing, never mind into any sort of clinical trials.
Back up to a silly high price. I guess there are a lot of newbies who actually think NNVC will get out Wuhancide in time for the current pandemic. That wouldn't even be true if the company was well managed.
So far most of the people who have caught the disease haven't died from it. So I imagine there are a lot of cured people, including many who never went to the hospital. In all cases they were cured by their own immune systems.
NNVC does not create vaccines. In many years it has yet to get as far as Phase I trials for any of its nanoviricides.
Only an idiot would think that NNVC will create Wuhancide in time to deal with the current outbreak of the disease.
Was that before or after the 20 to 1 reverse split?
Dunno. As always with these gambling stocks the question is, if I jump in now, will some bigger fool jump in later at a higher price?
I was never any good at playing that game, I was always the bigger fool.
I haven't seen any indication that NNVC holds licenses for corona viruses. So as usual Dr. Diwan is bragging about how NNVC can have a Wuhancide in a few weeks while in reality it will take a year just to negotiate a license with Theracour, never mind the time required to actually develop the drug.
Theracour and AllExcel are private companies. (Dr. Diwan owns about 90% of Theracour.) The employees at the Shelton site all get their paychecks from Theracour. Any intellectual property they produce (patents or trade secrets) are owned by Theracour. Indeed, if you actually bothered to read the SEC filings you would know that all recent patents have been assigned to Theracour. Also, only Theracour is actually allowed to manufacture nanoviricides. NNVC pays Theracour for all drug development on a "cost + 30% of direct costs" basis. So Theracour has been profitable from day one. NNVC is basically a shell whose purpose is to raise cash from investors and funnel it to Theracour, which by now must have millions of dollars in its bank account. A practical effect is that all R&D costs NNVC 30% more than it would if NNVC actually owned the IP.
The human comedy that is Nanoviricides Inc. is far more entertaining when you don't have any shares.
It's weird to see people who think that a currently raging pandemic should have any effect on the stock price of a company that doesn't have a cure to sell right now and won't for at least 2 years, if ever. Wuhan "flu" will be over one way or another well before NNVC can sell you a cure.
At least NewMoney is right as the fizzle continues.
It's fun seeing those fresh faced bright eyed newbies falling for the same old tricks we old hands have seen NNVC do for years and years.
Why, I'm sure an FDA approved corona viricide is just a few months away.
An almost 50% drop in one day. Some newbies got played.
Ha ha ha ha ha ha ha ha ha ha ha ha.
We all know how long NNVC has had an anti-influenza candidate.
Yup. The price is under 15 cents pre-both reverse splits. There are still plenty of bag holders.
Down to 0.51 pre-split. I don't feel so stupid having sold at a buck.
Yes, flu is generally a more serious virus. But regardless, NNVC has settled on Shinglecide as the 'cide mostly likely to get approved. If anything ever does.
I don't even think NNVC has a 'code for coronaviruses. They don't yet have a cure for the common cold.
You know you have a stock price driven by rampant speculation rather than by fundamentals when it goes up 30% one day and down 30% the next, with no news during that time.
Even if we are wild optimists and assume that NNVC will eventually get Flucide to market, and even if we are pessimists and assume Wuhan flu becomes a serious pandemic, Flucide can't possibly be made available soon enough to have any effect on the current crisis.
Remember, Flucide has been shelved. Shinglescide will be brought to market first, if anything is. The only real "good news" for long suffering longs is that the recent share sale, while diluting the shares still further, will at least keep the company afloat for another year or so.
Again, that's Theracour's Patents and technology. The only thing of value that NNVC has are its licenses, one for each virus. For any new virus NNVC has to negotiate a new license. The CEO of Theracour is Dr. Diwan, and the CEO of NNVC is Dr. Diwan. So Dr. Diwan has to negotiate a license with Dr. Diwan. Diwan owns a higher fraction of Theracour than he does of NNVC, so it is to his advantage to transfer dollars from NNVC to Theracour. Yes, that's the steaming pile of shit you've bought into.
Maybe you should read about six years worth of posts on this board to see the wild optimism and dashed hopes NNVC has created over time.