NanoViricides Reports Q2 Results

TL;DR

**NVCN Q2:** Assets $13.1M, Liabilities $1.6M, Net Loss $0.9M. Still burning cash.

AI Summary

NanoViricides, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported total assets of $13,144,055 and total liabilities of $1,564,161. For the six months ended December 31, 2024, the company had a net loss of $892,625.

Why It Matters

This filing provides a snapshot of NanoViricides' financial health and operational performance for the second quarter of fiscal year 2025, which is crucial for investors assessing the company's viability and future prospects.

Risk Assessment

Risk Level: high — The company reported a net loss, indicating ongoing operational challenges and a need for continued funding.

Key Numbers

• $13.1M — Total Assets (As of December 31, 2024)
• $1.6M — Total Liabilities (As of December 31, 2024)
• $0.9M — Net Loss (YTD) (For the six months ended December 31, 2024)

Key Players & Entities

• NanoViricides, Inc. (company) — Filer of the 10-Q
• December 31, 2024 (date) — End of reporting period
• $13,144,055 (dollar_amount) — Total assets as of December 31, 2024
• $1,564,161 (dollar_amount) — Total liabilities as of December 31, 2024
• $892,625 (dollar_amount) — Net loss for the six months ended December 31, 2024

FAQ

Key Financial Figures

• $0.001 — Preferred Common Stock: Stock: Par $0.001 Par $0.001 Number Number Additi

Filing Documents

• nnvc-20241231x10q.htm (10-Q) — 1386KB
• nnvc-20241231xex31d1.htm (EX-31.1) — 11KB
• nnvc-20241231xex31d2.htm (EX-31.2) — 11KB
• nnvc-20241231xex32d1.htm (EX-32.1) — 6KB
• nnvc-20241231xex32d2.htm (EX-32.2) — 6KB
• 0001410578-25-000140.txt ( ) — 5531KB
• nnvc-20241231.xsd (EX-101.SCH) — 43KB
• nnvc-20241231_cal.xml (EX-101.CAL) — 30KB
• nnvc-20241231_def.xml (EX-101.DEF) — 194KB
• nnvc-20241231_lab.xml (EX-101.LAB) — 331KB
• nnvc-20241231_pre.xml (EX-101.PRE) — 255KB
• nnvc-20241231x10q_htm.xml (XML) — 834KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 2

Financial Statements

Item 1. Financial Statements 2 Condensed Balance Sheets at December 31, 2024 and June 30, 2024 (Unaudited) 2 Condensed Statements of Operations for the Three and Six Months Ended December 31, 2024 and 2023 (Unaudited) 3 Condensed Statements of Changes in Stockholders' Equity for the Three and Six Months Ended December 31, 2024 and 2023 (Unaudited) 4 Condensed Statements of Cash Flows for the Six Months Ended December 31, 2024 and 2023 (Unaudited) 6 Notes to the Condensed Financial Statements (Unaudited) 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 39

Controls and Procedures

Item 4. Controls and Procedures 39

OTHER INFORMATION

PART II OTHER INFORMATION 40

Legal Proceedings

Item 1. Legal Proceedings 40

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 41

Other Information

Item 5. Other Information 41

Exhibits and Reports on Form 8-K

Item 6. Exhibits and Reports on Form 8-K 42

Signatures

Signatures 43 Certifications 1 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements NanoViricides, Inc. Condensed Balance Sheets December 31, June 30, 2024 2024 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 3,958,052 $ 4,797,778 Prepaid expenses 113,807 172,742 Total current assets 4,071,859 4,970,520 Property and equipment, net 7,171,865 7,512,463 Intangible assets, net 321,174 325,308 OTHER ASSETS Service agreements 5,745 14,562 Total assets $ 11,570,643 $ 12,822,853 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 251,857 $ 376,270 Accounts payable – related parties 866,783 720,039 Accrued expenses 65,424 262,467 Total current liabilities 1,184,064 1,358,776 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Series A convertible preferred stock, $ 0.00001 par value, 10,000,000 shares designated, 903,603 and 892,625 shares issued and outstanding , at December 31, 2024 and June 30, 2024, respectively 9 9 Common stock, $ 0.00001 par value; 150,000,000 shares authorized, 15,641,611 and 13,144,055 shares issued and outstanding , at December 31, 2024 and June 30, 2024, respectively 156 131 Additional paid-in capital 154,915,611 150,838,832 Accumulated deficit ( 144,529,197 ) ( 139,374,895 ) Total stockholders' equity 10,386,579 11,464,077 Total liabilities and stockholders' equity $ 11,570,643 $ 12,822,853 See accompanying notes to the condensed financial statements 2 Table of Contents NanoViricides, Inc. Condensed Statements of Operations (Unaudited) For the Three Months Ended For the Six Months Ended December 31, December 31, 2024 2023 2024 2023 OPERATING EXPENSES Research and development $ 1,156,351 $ 1,573,879 $ 3,089,442 $ 3,040,544 General and administrative 902,700 610,877 2,137,443 1,175,803 Total operating expenses 2,059,051 2,184,756 5,226,885 4,216,347 LOSS FROM OPERATIONS ( 2,059,051 ) ( 2,184,

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View this 10-Q filing on SEC EDGAR