PALM BEACH, Fla., Aug. 06, 2024 (GLOBE NEWSWIRE) -- FinancialNewsMedia.com News Commentary - The demand for antiviral drugs has been increasing globally due to the growing prevalence of viral diseases. Customers are increasingly seeking antiviral drugs that are effective against a wide range of viruses and have minimal side effects. They also prefer drugs that are easy to administer and have a shorter treatment duration. The Antiviral Drugs segment is expected to experience significant growth, which is mainly driven by the testing of novel treatments for COVID-19. There are also more general drivers of the market: the rising number of HIV cases worldwide and the need for continuous development in the field of antiviral drugs. A report from Statista said that: “The projected revenue in the Antiviral Drugs market worldwide is estimated to reach US$51.18bn in 2024. It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 1.58%, leading to a market volume of US$55.36bn by 2029. In terms of global comparison, United States is anticipated to generate the highest revenue, with US$30,640.00m in 2024. In the worldwide market for antiviral drugs, the United States leads in research and development, driving innovation and setting industry standards.” Active Biotechs in the biotech markets today include: NanoViricides, Inc. (NYSE: NNVC), BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX), Veru Inc. (NASDAQ: VERU), Chimerix (NASDAQ: CMRX), SIGA Technologies, Inc. (NASDAQ: SIGA).
One of those US companies heavily invested in the Antiviral Market is NanoViricides, Inc. (NYSE American: NNVC), a clinical stage global leader in broad-spectrum antiviral nanomedicines. The company has recently released three press releases. The most recent released on August 1, 2024 reported that two separate and independent research reports have been published by industry analysts on the Company.
"NNVC: NanoViricides Broad Spectrum Technology Represents Potential Paradigm Shift In Viral Therapy," is the title of a new research note published by David Bautz, PhD, Zacks SCR, on July 31st, 2024. Importantly, he notes that, "As opposed to currently available antiviral therapies in which each compound is only active against a unique type of virus, NanoViricides has disclosed preclinical results for NV-387 in multiple viral models that demonstrates the broad-spectrum action of the compound. These results could represent a new paradigm in viral therapy."
"[NanoViricides'] Novel anti-viral could boost a US$3 bln market - New focus on viral respiratory infections especially highly transmissible RSV," is the title of the research report published by John Savin, PhD, MBA, ProactiveInvestors, focusing on our clinical stage drug NV-387, on May 21st, 2024, in a separate and independent Research Report.
"If, as preclinical data indicates, the candidate, anti-viral NV-387, can be delivered orally at effective doses against multiple respiratory viruses, including potentially Influenza A, RSV and COVID-19, it could become a mass market product. It might be prescribed by primary care physicians adding a new, acute therapeutic category to the RSV vaccine and antibody market already worth about US$3 billion," proclaimed Dr. Savin.
A previous report on July 31, 2024 added: “A Phase 1 safety study of the company’s lead asset, NV-387, was recently completed and we anticipate results from the study being available in the second half of 2024. A Phase 2 clinical trial in Respiratory Syncytial Virus (RSV) is currently being planned. As opposed to currently available antiviral therapies in which each compound is only active against a unique type of virus, NanoViricides has disclosed preclinical results for NV-387 in multiple viral models that demonstrates the broad-spectrum action of the compound. These results could represent a new paradigm in viral therapy.
The RSV market was approximately $3.9 billion in 2023 and is expected to grow to $11.9 billion in 2030 (EvaluatePharma).” A July 24, 2024 said: “Today (the company) reminds the strong safety and effectiveness against coronaviruses demonstrated by its lead clinical drug candidate NV-387.
"President Joe Biden has thankfully recovered from the bout of COVID caused by a new variant," said Anil R. Diwan, PhD, President and Executive Chairman of the Company, adding, "This again brings into limelight the lack of strong drugs against COVID; a gap that NV-387 is expected to fulfill." We believe it is important to bring to the attention of everyone how strong the activity of NV-387 in animal studies against coronaviruses has been, even compared with the most effective anti-coronavirus drug, namely, remdesivir (Veklury® Gilead).
These results indicate that NV-387 oral drug is expected to be highly effective in treatment of COVID infections. We are now seeking collaborations with Pharma companies to bring this remarkable drug, NV-387, towards regulatory approvals for multiple antiviral indications.” Read these full press releases by going to: https://new.nanoviricides.com/Investor%20Info/company-news
In other biotech news in the markets this week:
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) recently announced that the General Directorate of Medicines, Supplies and Drugs (DIGEMID) in Peru has granted approval for oral, once-daily ORLADEYO® (berotralstat) for the prophylaxis of hereditary angioedema (HAE) attacks in adults and pediatric patients 12 years of age or older.
“We continue to work alongside our partner, Pint Pharma, to bring ORLADEYO to people living with HAE who are in need of new treatment options across the pan-Latin America region. With this decision by DIGEMID, we are excited that patients in Peru will soon be able to benefit from our oral, once-daily prophylactic therapy,” said Charlie Gayer, chief commercial officer of BioCryst.
Veru Inc. (NASDAQ: VERU) recently announced it will host a conference call and audio webcast on Thursday, August 8, 2024, at 8:00 a.m. ET to discuss its fiscal 2024 third quarter financial results and to provide a business update.
The audio webcast will be accessible under the Investors page of the Company’s website at www.verupharma.com. To join the conference call via telephone, please dial 1-800-341-1602 (domestic) or 1-412-902-6706 (international) and ask to join the Veru Inc. call. An archived version of the audio webcast will be available for replay on the Company’s website for approximately three months. A telephonic replay will be available at approximately 12:00 p.m. ET by dialing 1-877-344-7529 (domestic) or 1-412-317-0088 (international), passcode 2561276, for one week.
Chimerix (NASDAQ: CMRX), a biopharmaceutical company whose mission it is to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases, recently reported financial results for the first quarter ended March 31, 2024 and provided an operational update.
“Patients, caregivers and physicians are in desperate need for novel therapies that offer clinical benefit in H3 K27M-mutant diffuse glioma, and we believe that dordaviprone (ONC201) has the potential to be a major therapeutic advance in the treatment of this disease,” said Mike Andriole, Chief Executive Officer of Chimerix.
“We remain intensely focused on completion of the ACTION study and will continue to be active and collaborative with regulators to bring dordaviprone to patients in need as soon as possible. In parallel, we are continuously evaluating options to accelerate access to dordaviprone in select markets where accelerated regulatory pathways exist as there are few treatment options for this ultra-rare disease beyond radiation therapy. As an example, our recent interaction with the Therapeutic Goods Administration (TGA) in Australia is a positive initial step that is aligned to this overall strategy. Having a pivotal Phase 3 study well underway is an important consideration in global regulatory conversations that contemplate accelerated approval, and the ongoing maturation of the ACTION study enables these conversations,” added Mr. Andriole.
SIGA Technologies, Inc. (NASDAQ: SIGA), a commercial-stage pharmaceutical company, recently announced that the U.S. Department of Health and Human Services exercised a procurement option for the delivery of approximately $113 million of oral TPOXX® treatment courses.
“Building on the orders received in 2023 from the U.S. government and 15 international customers, this $113 million order from the U.S. government will enhance orthopoxvirus preparedness and support sizable and consistent action when needed to help ensure public health from natural, accidental, or intentional threats,” said Diem Nguyen, Chief Executive Officer. “We are pleased to fulfill our responsibility to global health security while generating attractive returns for our company and shareholders.”
This project has been supported in whole or in part with federal funds from the U.S. Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority (BARDA) and Strategic National Stockpile, under contract number 75A50118C00019.
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