NanoViricides (NNVC) has released an update.
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NanoViricides, Inc. has revised its License Agreement with TheraCour Pharma, Inc., deferring cash milestone payments until the company achieves a “Revenue Event,” while also capping the payout at 50% of recognized profits. Furthermore, the company has extended its Line of Credit maturity date with Dr. Anil R. Diwan to December 31, 2025, with no funds drawn to date. In a separate move to ease financial pressure, NanoViricides has also agreed with TheraCour to suspend the advance payment requirement, applying any available funds to cover outstanding invoices as it seeks to raise additional capital.
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