WEST HAVEN, Conn., Jan. 21, 2015 /PRNewswire/ -- NanoViricides,
Inc. (NYSE MKT: NNVC) (the "Company"), reported that between January 6 and 13, 2015, Anil Diwan, PhD,
the Company's co-founder, President and Chairman, and Dr.
Milton Boniuk, an independent member
of the Board of Directors, separately purchased NanoViricides
common stock in open market purchases, during one of the Company's
open trading windows for insiders.
The insider purchases were reported on Form 4's with the
Securities and Exchange Commission (SEC) and their combined
purchases amounted to 62,392 shares of NanoViricides common stock
in uncoordinated open market purchases. During one of the
Company's open trading windows for insiders, Dr. Diwan purchased
37,392 shares and independently, Dr. Boniuk purchased 25,000
shares. Shares were purchased at the open market prices ranging
between $2.54 and $2.75; prices that
Dr. Diwan and Dr. Boniuk believe are a substantial discount to the
Company's potential long term value.
For Dr. Diwan, the purchases were made using certain proceeds
from the sale of the cGMP facility that was recently sold by Dr.
Diwan's special purpose entity Inno-Haven, LLC to the Company, on a
costs reimbursement basis, as reported previously. The original
purchase of the building prior to extensive renovations was
accomplished by Dr. Diwan using his personal savings, loans from
other parties, and, in part, from the 10b5-1 sales of his founder
shares of the Company's stock in 2011.
"Continuing purchases by insiders is a sign of confidence in the
future of the Company," said Eugene
Seymour, MD, MPH, Chief Executive Officer, "and reflects the
on-going progress towards our goal of getting our drugs into humans
as soon as possible."
About NanoViricides:
NanoViricides, Inc. (www.nanoviricides.com) is a development stage
company that is creating special purpose nanomaterials for
antiviral therapy. The Company's novel nanoviricide® class of drug
candidates are designed to specifically attack enveloped virus
particles and to dismantle them. The Company is developing drugs
against a number of viral diseases including H1N1 swine flu, H5N1
bird flu, seasonal Influenza, HIV, oral and genital Herpes, viral
diseases of the eye including EKC and herpes keratitis, Hepatitis
C, Rabies, Dengue fever, and Ebola virus, among others.
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by NanoViricides, Inc. are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
Although it is not possible to predict or identify all such
factors, they may include the following: demonstration and proof of
principle in pre-clinical trials that a nanoviricide is safe and
effective; successful development of our product candidates; our
ability to seek and obtain regulatory approvals, including with
respect to the indications we are seeking; the successful
commercialization of our product candidates; and market acceptance
of our products.
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SOURCE NanoViricides, Inc.