NanoViricides Inc. (NNVC)

[arvitar]

The industry meaning of “drug” is the same:, and coincides with the one given in most American English dictionaries and assumed by those on the streets:

Drug: a substance used as a medication or in the preparation of medication, according to the Food, Drug, and Cosmetic Act; or a substance recognized in an official pharmacopoeia or formulary.


In the industry, and when communicating to the investing public, one typically refers to candidates being developed as “pipeline leads” or preclinical candidates.

Even though neither Seymour nor Diwan had any training or experience remotely related to drug development, and they’re both yokels, it’s hard to believe they had some different meaning of “drug” they assumed the investing public shared.

It’s similar to their repeated use of the phrase “no evidence of toxicity “ without ever having completed the IND-required toxicology studies. They either had a different meaning of those words, or intended to mislead.