NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), announced today that it has raised $5,000,000, drawing down on its previously announced universal registered shelf “Form S-3” offering. The registered shelf offering became effective on April 29, 2010.
The Company received this financing from a single investor, Seaside 88, LP (“Seaside”), a Florida limited partnership. Seaside has financed several leading-edge bio-pharma companies, including Cytori Therapeutics, Inc., Generex Biotechnology Corporation, and NovaDel Pharma, Inc. among others.
This shelf offering has been hanging over the stock price for weeks. With it now out of the way, what can we expect next? Apart from a pending AMEX up-listing, there are a lot of irons in the fire for NanoViricides, particularly coming out of the lab in multiple locations across different anti-viral targets. If there was anything bad to report, it would have had to have been disclosed to the above $5M investor. The fact that the investment went forward, we can fairly deduce that there is no bad news looming, which suggests good news, maybe very good news is coming next.
Nothing but net.
Aeterna Zentaris: FDA Approves Investigational New Drug (IND) Application for Doxorubicin Targeted Conjugate Compound, AEZS-108, in Bladder Cancer
Aeterna Zentaris Inc. (NASDAQ: AEZS, TSX: AEZ) (the "Company"), a late-stage drug development company specialized in oncology and endocrine therapy, today announced that the U.S. Food and Drug Administration (FDA) has approved the Company's Investigational New Drug (IND) application for its doxorubicin targeted conjugate compound, AEZS-108, in luteinizing hormone releasing hormone (LHRH) receptor positive urothelial (bladder) cancer. Following this approval from the FDA, the Company expects to initiate a Phase 2 clinical trial in this indication in the second half of this year.Another triumph for a remarkable product pipeline. AEZS has two Phase III three products, two Phase II products, two Phase I products and four Pre-Clinical products, all addressing big markets and lets not forget their existing product already in the market, Cetrotide®.
AEZS's market cap is $130M, an anomaly that presents investors with an incredibly enticing risk:reward opportunity.