NNVC Stock Up 17% Today: What’s Driving The Rally?

• The designation provides the clinical-stage company with key development incentives.
• There is currently no approved antiviral treatment for measles — only vaccination.
• NanoViricides has also applied for Rare Pediatric Disease Designation for NV-387.

Shares of NanoViricides, Inc. (NNVC) jumped 17% on Monday after the company announced that the U.S. FDA has granted Orphan Drug Designation to its broad-spectrum antiviral candidate NV-387 for the treatment of measles.

The designation provides the clinical-stage company with key development incentives, including tax credits for qualified clinical trials, exemption from certain user fees, and the potential for seven years of U.S. market exclusivity upon approval.

NanoViricides has also applied for Rare Pediatric Disease Designation for NV-387; if granted, that would make the company eligible for a tradable Priority Review Voucher that aims to cut the review time for an application significantly. The voucher is tradable and has historically sold for $150 million to $200 million.

“The Orphan Drug Designation is an important milestone that will help us speed up the regulatory development of NV-387 for the Treatment of Measles,” said Anil R. Diwan, CEO of NanoViricides. “A PRV would provide a significant early revenue source for the Company, and would make a strong business case for prioritizing the development of NV-387 for Measles,” the firm added.

There is currently no approved antiviral treatment for measles — only vaccination. Meanwhile, the company’s NV-387 has demonstrated strong effectiveness in relevant animal models of multiple human viral infections, including RSV, COVID, Influenza, Mpox, Smallpox, and Measles.

In April, NanoViricides said that it is separately preparing to start a mid-stage trial of NV-387 for mpox in the Democratic Republic of Congo.

How Did NNVC Retail Traders React?

On Stocktwits, retail sentiment around NNVC stayed within the ‘bullish’ territory over the past 24 hours, while message volume remained at ‘low’ levels.

NNVC stock has gained 20% over the past 12 months. 

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