NanoViricides, Inc. reported that the Phase 1a/1b Human Clinical Trial of NV-CoV-2, the Company's broad-spectrum antiviral drug, is progressing successfully. Healthy volunteers Recruitment for Phase 1a and Phase 1b is Progressing Satisfactorily: The Company reports that its Indian collaborator and drug sponsor, Karveer Meditech Pvt. Ltd., India, has communicated that approximately 26 out of the target of 36 healthy volunteers in the various cohorts in the Phase 1a Single-Ascending-Dose ("SAD") have already completed the study.

Additionally, 17 out of the target of36 healthy volunteers in the various cohort in the Phase 1b Multiple-Ascending-Dosing-Dose ("MAD") part of the clinical trial have already completed the study. No Adverse Events Found in the Healthy volunteers to Date: No adverse events or serious adverse events were found in the SAD or MAD studies to date, in either the NV-CoV-2 Oral Syrup or the NV- CoV-2 Oral Gummies administration cohorts. Recruitment in COVID Patient Treatment Part of Phase 1b to begin soon: The CRO, PristynCR, India, has advised that they have requested approval from the Ethics Committee to begin recruitment into the Phase 1b COVID Patient Treatment part of the clinical trial, based on the excellent safety and tolerability of the drug.

The Phase 1b Part of Treatment of COVID Patients is designed to provide initial indications of effectiveness and dose requirements. COVID Virus Continues to Mutate, Posing a Strong and Continued Threat: SARS-CoV-2 virus continues to mutate abated, generating new variants much faster than vaccines can be developed, and the possibility of a severely pathogenic variant similar to the delta variant remains. There is no approved drug for the treatment of RSV infection, except the toxic drug ribavirin which is only indicated for very severe cases due to its severe hemotoxicity.

Phase 2 Human Clinical Trials towards Multiple Viral Threats: The Company believes that subsequent to the completion of this Phase 1a/1b clinical trial, it will be able to seek permission from multiple regulatory agencies to conduct Phase 2 clinical trials for the treatment of at least COVID and RSV. Strong Market Sizes Addressed by NV-CoV-2: In addition to the well-known strong and continuing market size for COVID drugs, GrowthPlus Reports, in June 2023, has said that the market size for RSV therapeutics was worth $1.8 Billion in 2022, and is expected to grow at a CAGR of 18.9%, reaching $8.73 Billion by 2031. The lead drug candidate is NV-CoV-2. The lead drug candidate isNV-CoV-2, that contains the active pharmaceutical ingredient ("API") NV-387, for the treatment of COVID caused by SARS-CoV- 2 coronavirus.

NV-CoV-2 in Phase 1a/1b human clinical trials for evaluation of safety and tolerability in healthy volunteers and COVID patients, as well as initial indications of effectiveness in COVID patients. The same API, NV-387, was recently demonstrated to be active against RSV as well. The Company is currently focused on advancing NV-CoV-2 through Phase I/II clinical trials.

As with any drug development efforts by any company, there can be no assurance at this time that any of the Company's pharmaceutical candidates are currently focused on the Company's pharmaceutical candidates.