NANOVIRICIDES, INC.

NanoViricides, Inc. Annual Investment Guide
Updated for Everyday Investors

---

1. What They Do & This Year’s Progress

NanoViricides develops nano-sized antiviral drugs targeting viruses like COVID, flu, shingles, and HIV. Key updates this year:

• Expanded Pipeline: Now working on 40+ virus treatments, including:
  • NV-HHV-1 Cream: A shingles treatment cleared for human trials (Phase I safety done). Could also treat cold sores and genital ulcers.
  • NV-HIV-1: Showed promise in mice studies—potential path to human trials.
  • MPox Breakthrough: Their COVID drug NV-387 works against monkeypox in animals. No treatments exist for the deadlier Clade Ib strain in Africa. Trials in Congo (DRC) could start soon.
  • Measles Workaround: Developing NV-387 Oral Gummies for measles under an FDA program that skips lengthy trials for rare diseases.

New Strategy: Hunting partnerships with big pharma (hired consulting firm Aagami) to license drugs for upfront cash and royalties. Avoiding building a sales team.

Tech Upgrades:

• Built a BSL2 lab to safely test drugs using non-replicating “pseudovirions.”
• In-house drug screening now 10x faster.
• Adaptive Trials: Testing NV-387 against multiple respiratory viruses (RSV, flu, coronaviruses) in one trial—saves time and money.

---

2. Financial Health: Growth or Trouble?

• Revenue: Still $0 (no approved products).
• Cash: $1.6M left (as of June 2025)—critically low.
• Funding Plan: Prioritizing government grants (e.g., biodefense projects) to avoid stock dilution. If grants fail, they’ll sell more shares.
• Assets: Owns a lab/manufacturing facility worth $6.8M (costs $18M to rebuild). No debt.
• Silver Lining: Claims current cash can fund Phase II trials for MPox and start respiratory virus trials. Success here could attract partners.

---

3. Wins vs. Challenges

Wins:

• Early COVID drug data looks promising.
• Fully Integrated Lab: Rare in small pharma—designs, tests, and manufactures drugs in-house.
• MPox Advantage: NV-387 has no “black box” safety warnings (unlike rivals).
• RSV Breakthrough: In mice, NV-387 doubled survival time vs. untreated cases (15 days vs. 7 days). Outperformed Ribavirin.
• FDA Flexibility: Adaptive trials let them target multiple viruses at once.

Challenges:

• Cash Crunch: $1.6M won’t last long. Stock dilution likely if partnerships fail.
• Reliance on Partners: No sales team—dependent on others to market drugs.
• Manufacturing Risk: May need to outsource production if scaling up fails.
• Conflict of Interest: R&D ties to TheraCour (executives overlap).

---

4. Risks to Know

• Partner Dependency: Entire plan hinges on landing pharma deals—no guarantees.
• Penny Stock Volatility: Shares under $5 scare off big investors.
• Trial Delays: Outsourced animal testing could slow progress.
• MPox Wild Card: Competing drugs failed in Africa’s tough outbreak zones.

---

5. Competitor Comparison

Strengths:

• Owns lab/manufacturing—unusual for small biotech.
• Safety Edge: NV-387 has fewer side effects vs. rivals.

Weaknesses:

• Competitors (e.g., Big Pharma) have deeper pockets and bigger teams.

---

6. Leadership Moves

• New Focus: Pushing hard for partnerships over solo development.
• Bio-defense Pivot: Chasing government grants for MPox/smallpox programs.
• Governance Note: Founder holds controlling shares—investors have little say.

---

7. What’s Next?

• 2024 Goals:
  • Start MPox trials in DRC.
  • Phase II trials for NV-387 against severe respiratory infections (RSV, flu, etc.).
  • Launch measles gummies via FDA’s physician-led program.
• Long-Term: If any drug succeeds, they could tap multi-billion-dollar markets.

---

Key Takeaways for Investors

Why Consider NanoViricides?

• 🚀 Pipeline Potential: 40+ virus targets, including MPox and RSV with breakthrough early results.
• 💡 Tech Edge: Fully integrated lab and adaptive trials save time/cash.
• 🌍 MPox Opportunity: First-mover advantage in Africa’s deadly outbreak zones.

Big Risks:

• 💸 Cash Crisis: $1.6M won’t last—stock dilution or partnership failure could sink the stock.
• 🎲 Binary Bet: Success depends entirely on unproven trials and unsecured partnerships.
• ⚠️ Penny Stock Volatility: Not for risk-averse investors.

Bottom Line: High-risk, high-reward play. Best suited for investors who can stomach volatility and believe in their pipeline’s potential. Monitor partnership news and trial results closely—this stock could soar or crash in 2024.

Disclosure: The company provided limited details on certain risks (e.g., exact grant timelines), which investors should factor into their decisions.