The early stage biotech industry is tough for shareholders under the best circumstances. Well-funded companies staffed with honest and legitimate scientists putting shareholder value first, still fail constantly. NNVC has burned ~$33m in cash over the past nearly 7+ years and done essentially nothing as far as we can tell except dilute public shareholders, make insiders rich and develop Anil Diwan's technology.
Even if you believe NNVC has legitimate technology with the best management team, who you believe will put your shareholder interests ahead of your own, NNVC valuation still makes zero sense. With 10k+ publicly traded companies and thousands of life sciences companies, we cannot imagine why anyone is unable to find something better to do with their money than "invest" it in this worthless shell where shareholders own virtually nothing and management seems intent on extracting all the money for themselves. NNVC is clearly held together with scotch tape and we recommend investors sell their shares immediately before this house of cards comes crashing down.
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