October 6, 2008
NanoViricides, Inc. To File Annual Report Shortly; Discusses Status of Current Projects
NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), commented on the recent and temporary change of its quotation symbol from NNVC.OB to NNVCE.OB. The "E" reflects that the Company has not yet filed its Form 10-KSB, annual report to shareholders. The Company's symbol will return to NNVC.OB once the Form 10-KSB is filed. The Company anticipates it will file our annual report within the time provided and expects there to be no significant change in its financial statements.
Commenting on this event, Eugene Seymour, MD, MPH, the Company's Chief Executive Officer, stated "We want to assure our stockholders that nothing about the Company has changed. We remain committed to both our mission and our science and we will rectify this issue within ten days."
"Following recently disclosed successful financing, we are now busy scheduling the follow-on studies against HIV as well as adenoviral EKC. We have received significant interest from several major pharmaceutical companies, as well as governmental and non-profit institutions for nanoviricides development against these diseases," he further added.
"We are now gathering significant and valuable input for these studies from important stakeholders interested in furthering development of highly effective drugs against these major diseases," said Anil R. Diwan, PhD, President of the Company.
The Company further reports that the next stage in the evaluation of anti-rabies nanoviricides is expected to begin soon at the Centers for Disease Control and Prevention in Atlanta, GA, under a previously announced signed Materials Cooperative Research and Development Agreement (M-CRADA). The anti-influenza projects, viz. FluCide(TM)-I against common influenzas, and FluCide-HP(TM) against all highly pathogenic avian influenzas (bird flu, including H5N1, H7N and H9N), are awaiting certain animal studies protocol approvals. The Company is currently developing additional ligands against the Ebola virus, following successful initial in vitro studies, to overcome the potential problem of soluble surface glycoprotein shed by the virus in animal infection. The Company plans to report on additional projects undertaken as they proceed.
NanoViricides, Inc. (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for viral therapy. The Company's novel nanoviricide(TM) class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. The Company is developing drugs against a number of viral diseases including H5N1 bird flu, seasonal influenza, HIV, EKC, hepatitis C, rabies, dengue fever, and Ebola virus, among others.
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Forward-looking statements involve risks and uncertainties. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by NanoViricides, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied including the success of the Company's research and development efforts, the availability of adequate financing, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process, described in the "Management's Discussion and Analysis" section of the Company's Form 10-KSB and other reports and filings with the Securities and Exchange Commission.