Small biopharma company NanoViricides sees stock soar on coronavirus treatment claims
"The Company pays TheraCour for the R&D work asked to be performed by the Company to develop these drugs, their chemistries, formulations, and manufacturing processes, substantially at cost, with a certain fee as specified in the license agreements," the annual report said.
"Dr. Diwan may have conflicting fiduciary duties between us, TheraCour and AllExcel, for which he must recuse himself from certain of our decision-making processes," the prospectus said. Despite the press releases and media appearances on coronavirus, Diwan said the company is focused on a different disease.
CNBC also asked NanoViricides to clarify the relationship between TheraCour, AllExcel and NanoViricides, and any cash payments to AllExcel, but NanoViricides did not respond.Jennifer Schlesinger | CNBC"I'd say, 'Why aren't these guys creating some drug that goes into human trials and gets into the marketplace?'" he said.
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