NanoViricides Inc. (NNVC)

[BonelessCat]

Firm beefs up trading visibility
Steve Higgins, Register Business Editor
06/30/2007

WEST HAVEN — NanoViricides Inc. started trading on the Over the Counter Bulletin Board of the National Association of Securities Dealers Friday, taking a step up from the Pink Sheets market.

The new symbol is "NNVC.ob."

"It gives us wider distribution and more visibility in the market," said CEO Eugene Seymour.

The new listing gives the biotechnology company new credibility, since a listing on the OTC market requires approval by the NASD and the U.S. Securities & Exchange Commission.

Seymour said his goal now will be to move NanoViricides onto the more prestigious Nasdaq Stock Market. To do that, the stock price will have to rise to the $3 to $4 level from its current level around $1 a share, and the company will have to create a larger board of directors, with more subcommittees, to be in compliance with Sarbanes-Oxley.

NanoViricides, headquartered at 135 Wood St., is creating nanomaterials for viral therapy to attack and dismantle virus particles involved in diseases including bird flu, influenza, rabies, dengue fever, HIV and hepatitis C.

The company was created in June 2005 through a reverse merger with a Pink Sheets shell corporation, and by March 2006 was trading as high as $3.75 a share as concern mounted over the global spread of bird flu.

Since that time, the company has entered into an agreement with the government of Vietnam to develop drugs to combat rabies, and has entered into a partnership with the U.S. Department of Defense to develop drugs to combat dengue fever.

The company also recently announced a plan to double in size by leasing 5,000 square feet of laboratory space in the Woodbridge Commercial Park, 4 Research Drive, Woodbridge, while maintaining its West Haven offices and labs.

NanoViricides’ stock closed Friday at 92 cents a share, down 1 cent.
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