NanoViricides, Inc. (NNVC.PK) Denies Rumor That It Is Being Acquired For $4.5 Billion
3/7/2014 6:55:23 AM
NanoViricides Inc. Denies Rumor That It Is Being Acquired For $4.5B
WEST HAVEN, Conn.--(BUSINESS WIRE)--NanoViricides, Inc. (NYSE MKT:NNVC) (the “Company”) denies the statement made in a blog post on the Seeking Alpha website that it is being acquired for between $2.25B and $4.5B.
The new article was filed by a “MathewRohlad” in his instablog on the Seeking Alpha website. He identified himself as an investor in “undervalued large growth potential stocks."
The article entitled “NanoViricides (NNVC) Acquisition In Review” claims that an anonymous source informed the author that an unidentified entity is “intent on acquiring NanoViricides” and that this phantom entity valued the Company “between 2.5 to 4.5 billion dollars."
The author has not contacted any of the Company’s executives prior to this posting, nor has Seeking Alpha attempted to verify any portion of the story with the Company.
The Company has no knowledge of being an acquisition target, and has not had any discussions whatsoever of such nature with any parties. Eugene Seymour, MD, MPH, co-founder and Chief Executive Officer of NanoViricides, said “We find it odd that Seeking Alpha would publish one story claiming the Company has no value and a second claiming that it is about to be acquired for possibly up to $4.5B.”
The Company provides information regarding its achievements, major corporate events, as well as business strategy, via its press releases, the quarterly and annual reports, and other SEC filings such as the current reports. The Company advises our investors and shareholders to obtain their information from these authentic sources, and perform due diligence based on credible and authoritative sources. The Company further advises our shareholders and investors that they should not rely on false and baseless statements from unknown and phantom entities, such as this post, as well as the prior post by an admitted short seller, both published on the Seeking Alpha website. The Company has filed an action in the Supreme Court of the State of New York to compel Seeking Alpha to disclose the identity of the person who wrote and published a defamatory, malicious, and libelous article about the Company on February 11, 2014, on the Seeking Alpha website, as previously reported.
NanoViricides, Inc. (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for viral 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.
Amanda Schuon, 310-550-7200
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