NanoViricides, Inc. (OTCMKTS:NNVC) Receives Boost from Attempt at European Drug Markets
The love continues pouring in for NanoViricides, Inc. (OTCMKTS:NNVC) and although Friday was more tame compared to previous days of extremely high volumes, the ticker managed to stand at $1.45 after adding more than 9$ on volumes of $2.4 million. 
The boost in the past couple of days happened after NNVC announced it had started a procedure with the European drug authorities to accept its dengue fever treatment and review it for orphan drug status. This would translate into a smoother review procedure as well as tax benefits for treating a rare disease that does not promise mass sales and high revenues.
So far, NNVC holds:
- $15.4 million cash
- $17.8 million total assets
- $7.7 million total liabilities
- $3.6 million quarterly net loss
- $36 million loss for 96 months
And the new week opened on an upward bidding note, with prices as high as $1.58. This is achieved even without a boost of promoters, who last called in on July 18th. But even if NNVC has longer-term potential, there are disparate opinions on message boards, though skepticism prevails and NNVC is seen as a day-trading opportunity, rather than a biopharmaceutical darling that could rely on stable volumes for longer.
Nuvilex, Inc. (OTCMKTS:NVLX) shows what happens when a ticker loses steam after a run-up. NVLX is trying to recover, suggesting that it may receive approval for one of its drugs, but so far based on how the process developed for another company.
In that sector, bigger companies have fallen. The case of Titan Pharmaceuticals, Inc. (OTCBB:TTNP) is very indicative, showing how a lack of drug approval could lead to an extremely deep correction within a day, an a very slow recovery.
With or without news, NNVC is currently hanging at a rather precarious place, a high price for a biotech small cap. The climb in the past month is nearly 50%, which while not phenomenal puts the ticker at a risk for a deep correction to the customary levels below a dollar.
So if you still are on the positive side about NNVC, it is best to explore the company on your own and not take up positions unless you can also afford a break in the very positive trend of the past days.
