Executive Summary
NanoViricides Inc (NNVC) reported a disappointing QQ3 2024 quarter with no revenue recognized and a material net loss of approximately $1.85 million, comprising a gross loss of about $0.19 million against operating expenses of roughly $1.72 million. The company’s EBITDA and net income remained negative, reflecting ongoing pre-commercial R&D intensity typical of early-stage biotechnology firms. Management did not provide explicit forward guidance in the filing, leaving execution risk and pipeline milestones as the primary near-term catalysts.
From a liquidity perspective, NNVC ended the quarter with cash and cash equivalents of about $3.26 million and recorded a significant operating cash outflow of about $1.94 million, leading to a negative free cash flow of approximately $1.99 million. The balance sheet shows a predominantly equity-financed position with minimal liabilities (about $0.81 million) and substantial accumulated deficits reflected in retained earnings, underscoring the high-risk, long-horizon nature of the business. On a QoQ basis, net income improved modestly (from a larger loss in Q2 2024 to a smaller loss in QQ3 2024), but the YoY comparison remains unfavorable due to the company’s lack of revenue generation in prior periods. Given the cash runway and lack of near-term revenue, the stock remains highly speculative with upside tied to clinical milestones, licensing deals, or strategic collaborations that could unlock value from its nanoviricide platform.
Key Performance Indicators
QoQ: 12.32% | YoY:-16.28%
QoQ: 11.11% | YoY:-14.29%
Key Insights
Revenue: None reported in QQ3 2024 (null); Gross Profit: -$0.190M; Gross Margin: not meaningful due to nil revenue; Operating Income: -$1.908M; EBITDA: -$1.664M; Net Income: -$1.854M; EPS (Diluted): -$0.16; R&D Expenses: $1.2147M; G&A + Selling/Marketing: $0.5038M; Depreciation & Amortization: $0.190M; Net Cash from Operating Activities: -$1.9435M; Free Cash Flow: -$1.9881M; Cash at End of Period: $3.2572M; Weighted Avg Shares Out: 11.7796M; Current Ratio: 4.32; Quick Ratio: 4.32; Ca...
Financial Highlights
Revenue: None reported in QQ3 2024 (null); Gross Profit: -$0.190M; Gross Margin: not meaningful due to nil revenue; Operating Income: -$1.908M; EBITDA: -$1.664M; Net Income: -$1.854M; EPS (Diluted): -$0.16; R&D Expenses: $1.2147M; G&A + Selling/Marketing: $0.5038M; Depreciation & Amortization: $0.190M; Net Cash from Operating Activities: -$1.9435M; Free Cash Flow: -$1.9881M; Cash at End of Period: $3.2572M; Weighted Avg Shares Out: 11.7796M; Current Ratio: 4.32; Quick Ratio: 4.32; CashRatio: 4.00; Net Debt: -$3.257M (net cash).
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Gross Profit |
-189.96K |
-0.87% |
-0.33% |
| Operating Income |
-1.91M |
-5.39% |
12.65% |
| Net Income |
-1.85M |
-16.28% |
12.32% |
| EPS |
-0.16 |
-14.29% |
11.11% |
Key Financial Ratios
operatingCashFlowPerShare
$-0.17
freeCashFlowPerShare
$-0.17
Management Commentary
Earnings transcript not provided in the supplied data. Consequently, there are no management quotes or thematic quotes to highlight. Expectation: if a transcript becomes available, themes typically focus on: pipeline progress (HerpeCide, FluCide, DengueCide, HIVCide), partnering/licensing discussions, and milestones around IND/clinical readouts. Without the transcript, we rely on the 10-Q for quantitative signals and cannot quote management verbatim.
Forward Guidance
No explicit forward guidance was disclosed in the QQ3 2024 10-Q filing. Given the absence of revenue and ongoing pre-commercial R&D activity, investors should monitor pipeline milestones, potential collaborations, and any early-readouts from ongoing programs. The lack of guidance adds uncertainty around timing of potential milestones, which historically drive biotech equity dynamics. Any near-term catalysts (e.g., IND submissions, Phase I/II results, or strategic partnerships) would be material for a re-rating.