West Haven’s NanoViricides Inc., a development-stage maker of anti-viral therapeutics, said its net loss for the quarter ended Sept. 30 was $6.3 million, more than triple its loss from the same quarter in 2012.
The company, which has six drugs in its development pipeline, reported that most of the additional loss was the result of a change in the fair market value of its derivatives. NanoViricides booked a $4.1 million loss in that category, up from $246,000 a year ago.
Despite the higher losses, the company said it has sufficient cash to support its operations for at least two years.
The company enacted a reverse split of its common stock in September, and its new stock began trading on the NYSE MKT exchange on Sept. 25.
