Despite losing $1.7 million in its second fiscal quarter, West Haven’s NanoViricides said it has enough cash to perform initial human clinical trials for its FluCide drug.
The company lost $1.2 million in the same quarter last year.
The biotech company said it raised $20 million in January, bumping its assets to $38 million, enough for the FluCide trials, and potentially enough to advance another of its pipeline drugs — DengueCide —which is meant to treat dengue and dengue hemorrhagic fever.
Since its inception in 2005, NanoViricides has lost $46.3 million.
