Replies to post #140596 on NanoViricides Inc. (NNVC)

[arvitar]

"The Company has the ability to make their materials in multi-kilogram quantities and so they are now in a position to file an IND, an Investigational New Drug Application. "

"He further indicated that they have sufficient financing in place to move forward with the first drug."

https://www.nasdaq.com/press-release/president-and-chairman-of-the-board-of-directors-anil-r-diwan-phd-of-nanoviricides-inc-discusses-20180821-00336


This seems like the best news the company has announced in years, actually. If I were a true-believing shareholder, I'd be doing backflips in celebration over these announcements by Diwan.

This definitively puts to rest the rumors that the company is unable to manufacture multi-kilogram quantities of material, and his headed for insolvency.

Note that Diwan is saying much more than they are ready to just *begin* IND-enabling tox studies. He's saying "they are now in a position to file an IND" application. That means all of the tox studies have been completed for a drug candidate! That's the one and only accomplishment that puts one into the position of being able to file an IND application.

In conjunction with the financing news, this is a HUGE announcement with respect to what the past few SEC filings disclosed:

" However, management believes that the available funds are insufficient for the Company’s projected work, which is beyond our normal pre-clinical development operations, leading towards an Investigational New Drug Application (IND) filing with the U.S. Food and Drug Administration (FDA), to continue through May 2019. "
p.10 https://www.sec.gov/Archives/edgar/data/1379006/000114420418030083/tv492966_10q.htm


Of course, if NNVC were to become insolvent within the next few months, then these new announcements made by Diwan would be deemed to be fraudulent. Regardless, it's hard to argue that this isn't surprising and extremely positive news.