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.