Nanoviricides Inc. (OTC:NNVC) has been falling down fast over the past weeks. Yesterday, the stock lost another 4.32% of its 
price on a traded volume exceeding 498 thousand shares.
However, what is more interesting here is that even the positive news about NNVC could not pump up the stock price. The announcement came up on Nov 3 when the company reported it has had more than 24 months of cash in hand. The financing should be received from Seaside 88, LP, which has previously financed NanoViricides with a total of approximately $15 million under a similar agreement.
The news sounds quite optimistic, though this did not influence NNVC stock price and it kept moving down. It is interesting how long the downtrend will continue.
NanoViricides, Inc. is a development-stage company engaged in the development and commercialization of anti-viral therapeutics. Yesterday, the company filed its unaudited quarterly report which, however, looked quite contradictory.
As of September 30, NNVC had an improved cash position, though its deficit accumulated during the development stage exceeded $24 million. At the same time, the loss from operations and the expenses were not covered.[BANNER]
The 10-Q states that while Nanoviricides continues to incur significant operating losses and has significant capital requirements, the company has been able to finance its business through sale of its securities. Additionally, NNVC has recently entered into a Securities Purchase Agreement and considers its capital sufficient to continue its business, at least, through Sept 30, 2013.
However, it appears that all of the company’s funds come as additional financing or sale of NNVC common stock, which may not be reliable enough for investors.
