NanoViricides Inc (NNVC) Q4 2024 Earnings Report

NanoViricides, Inc. (NNVC) reported a QQ4 2024 quarter characterized by ongoing pre-revenue R&D activity and a meaningful cash burn set against a capital-raising backdrop. The company posted a net loss of 2.36 million USD for the quarter, with no reported revenue. The operating expense structure was dominated by research and development (R&D) and general and administrative (G&A) costs, totaling approximately 2.39 million USD, yielding EBITDA of -2.17 million USD and a net income print of -2.36 million USD. Despite the lack of revenue, management funded the period through equity financing, evidenced by 3.12 million USD of common stock issued, contributing to a net cash increase of roughly 1.54 million USD for the period and ending cash of about 4.80 million USD.

The balance sheet remains asset-heavy with no debt, illustrating a liquidity buffer (current ratio 3.66x, cash ratio 3.53x) that supports ongoing R&D and potential partnering discussions. Retained earnings are deeply negative, reflecting a long-running development-focused business model rather than a cash-flow-generating one in the near term. While the company shows no near-term revenue visibility, the value proposition hinges on advancing its nanoviricide platforms (e.g., FluCide, DengueCide, HIVCide, HerpeCide, and intraocular/injection programs) toward preclinical/clinical milestones and strategic collaborations. Investors should weigh the high-risk, high-puel potential of a pure-play biotech with meaningful dilution and funding requirements against potential upside if any program achieves pivotal data readouts or licensing milestones.