new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your capital is at risk

NanoViricides (NNVC) Stock Rallied 49.9% on Positive Results for Its COVID-19 Drug

Updated: 21 Sep 2021

NanoViricides Inc (NYSEAMERICAN: NNVC) stock rallied 49.9% after results of an animal trial showed that its COVID-19 drug candidate showed promise when encapsulated with Gilead’s remdesivir.

The company has two drug candidates; the first is known as NV-CoV-2, which does not encapsulate remdesivir, while the second is known as NV-CoV-2-R, which is similar to NV-CoV-2 but encapsulates remdesivir.

Nanoviricides’ noted that the animal trial showed that double the remdesivir was retained in the blood plasma when administered NV-CoV-2-R compared to when Remdesivir was administered independently on the very first day.

new-recommended-broker-banner

The levels of Remdesivir retained in the blood kept rising with repeated dosing, with the level of remdesivir maintained in blood plasma after the fifth dose being 75% higher in the NV-Cov-2-R group compared to the remdesivir group.

As a bonus, the study revealed that the increased retention of remdesivir did not result in a corresponding increase in blood plasma toxicity.

Investors cheered the results, which indicate that NV-CoV-2-R could be a tremendous pan-coronavirus cure in the future.

Nanoviricides (NNVC) stock price.

Tradingview chart of Nanoviricides stock price 21-09-2021

NNVC stock rallied 49.86% during the premarket session to trade at $5.68, rising from Monday’s closing price of $3.79.

Should You Invest in NanoViricides Shares?

One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .