As it advances its pipeline of drugs further, NanoViricides (OTCBB:NNVC) says it has filed an orphan drug application with U.S. regulatory authorities for DengueCide, its drug candidate to treat dengue and dengue hemorrhagic fever.

Development-stage NanoViricides (OTCBB:NNVC) has everything it needs to drive shareholder value, with a potential money-maker in its hands in the form of a cure for the common flu. The company is now preparing for toxicology studies for its first FluCide candidate, expected to be wrapped up before the middle of next year. 

NanoViricides (OTCBB:NNVC), a development stage company creating special purpose nanomaterials for antiviral therapy, said Wednesday its cash position at the end of the first quarter was "sufficient to carry out its initial clinical trials of its first drug candidate."

NanoViricides (OTCBB:NNVC) saw its shares surge over seven per cent Wednesday, after announcing that president Anil Diwan will lead section 1 of the Symposium on Nanomedicines: Charting a Roadmap to Commercialization, called “Designing Nanomedicines”.

NanoViricides (OTCBB: NNVC) says it has retired the remainder of its Series C convertible preferred stock previously purchased by Seaside 88 with a cash payment, and said it holds around $18 million of cash in hand following the transaction.