- Thinly traded nano cap NanoViricides (NYSE:NNVC) is up 85% premarket on increased volume in reaction to its agreement with TheraCour Pharma for a license to develop drugs against varicella zoster virus (VZV), the virus that causes chickenpox in children and shingles in adults.
- Under the terms of the agreement, TheraCour will receive nothing upfront, but will receive 500K shares of NNVC Series A Preferred Stock when it files an IND for its candidate NV-HHV-101. It will receive a $1.5M cash payment when NNVC completes Phase 1 development, followed by a $2.5M milestone when NNVC completes Phase 2. It will also earn a 15% royalty on net sales and 15% of any sub-licensing revenue.