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Tuesday, April 20, 2010 11:42:09 PM
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Sent by Dr Seymour,
There is something very important to remember about a shelf registration
It's effective for a number of years and merely allows us to register treasury shares so they can be used as currency. For example, to buy equipment, pay for laboratory improvements or, to raise money, (sold as an offering). This offering can take different forms and is considered to be a "secondary offering".
However, we are under no obligation to do anything with those registered shares. They can simply sit there until we decide to use them (if ever).
As you can tell from our previous SEC filings, we have enough money to last for one year at our current burn rate so we are not in a panic to get more capital. We will do a financing, if and when we think it is in the best interest of both the Company and its shareholders to do so. In the meantime, I am actively exploring other forms of capital acquisition that will have no effect on the number of shares outstanding.
When the S3 was filed, many different investment banks contacted me. I have interviewed all of them, most in person, in an effort to chose the institution or institutions that will be important to us as we move forward into the FDA process and beyond.
I feel that we're at an important juncture in the life of NanoViricides. We now have a number of "lead drug candidates" for an FDA filing(s) and will decide in the next 2-3 months what the submission order will be. The priority voucher program is an important consideration, especially since there are a number of tropical medicine diseases that don't require human trials except for Phase I safety when the drug is given to healthy volunteers. And, there's an immediate financial payoff once approval is obtained. Only a few non human primates are needed for the other Phases which makes the trials go rather quickly.
There is now widespread understanding in the scientific community about the usefulness of nanomedicine and particularly of our nanoparticles, called nanomicelles. You only have to go to http://nano.cancer.gov to see that they're doing the same thing in oncology, targeting and destroying individual cancer cells, as we're doing with viruses.
It's important to look into the future but at the same time make the correct decisions that will help us achieve our long-term goals
I'm most interested in seeing this S3 shelf registration go effective so we can leave this quiet period and update everyone on our most recent studies.
I hope this has been helpful
EUGENE SEYMOUR, MD, MPH
Chief Executive Officer
NANOVIRICIDES, INC
Nanotechnology-based targeted anti-viral therapeutics
http://www.nanoviricides.com
eugene@nanoviricides.com
310-486-5677
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This is a clear statement on the SHELF REGISTRATION on NNVC at this time.
Echo20
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