NanoViricides Inc (NNVC) Q3 2025 Earnings Report

NanoViricides Inc (NNVC) reported a Q3 2025 results snapshot characterized by significant ongoing R&D investment and notable operating losses. With no reported revenue in QQ3 2025, the company continued to incur material operating expenses and a negative net income, resulting in a quarterly EBT/Net Income of approximately -$2.22 million and an EPS of -$0.14. The company generated negative free cash flow of about -$1.99 million for the quarter, financed in part by a +$0.58 million financing activity, leaving a cash balance of roughly $2.54 million at quarter-end. Management commentary is not available in the provided data, so the synthesis below emphasizes the quantified performance and its implications for liquidity, pipeline development, and investment risk.

Key takeaways for investors:
- The QQ3 2025 period remains pre-revenue for NNVC, with R&D and G&A driving a total operating expense of $2.25 million and an EBITDA of -$2.25 million. The net loss of -$2.22 million and a diluted EPS of -0.14 continue the pattern of ongoing burn typical for early-stage biotech platforms.
- Liquidity remains modest but manageable in the near term: cash and cash equivalents totaled $2.54 million with a net cash burn from operations of -$1.99 million for the quarter, implying a near-term liquidity runway of roughly 4 months at the current burn rate, absent additional financing. The company did report a modest financing inflow of $0.58 million in the quarter, which provides limited incremental liquidity but is not a durable funding source.
- Balance sheet highlights show strong leverage in terms of cash on hand versus liabilities for a small-cap biotech, but a substantial accumulated deficit is reflected in retained earnings of approximately -$146.75 million, implying persistent reliance on external funding to support ongoing pipeline work.
- The company continues to operate with a non-revenue model, focusing on nanoviricide platform development and multiple programs (e.g., HerpeCide, FluCide, DengueCide, HIVCide). In the absence of disclosed near-term milestones or revenue catalysts in the QQ3 2025 filing, investors should monitor clinical/commercial milestones, partnership activity, and any updates to management guidance or fundraising plans.