NanoViricides denies $4.5B acquisition rumor
NanoViricides, a development stage company creating special purpose nanomaterials for viral therapy, has denied a statement made in a blog post on the Seeking Alpha web site that it is being acquired for $2.25 billion to $4.5 billion.
The article was filed by Mathew Rohlad in his instablog on the Seeking Alpha web site. He identified himself as an investor in “undervalued large growth potential stocks."
The article NanoViricides (NNVC) Acquisition In Review claims an anonymous source informed the author an unidentified entity is “intent on acquiring NanoViricides” and this phantom entity valued the company “between 2.5 to 4.5 billion dollars."
The author did not contact any of the company’s executives prior to the posting, nor has Seeking Alpha attempted to verify any portion of the story with the company.
NanoViricides said it has no knowledge of being an acquisition target and has not had any discussions of such nature with any parties. Eugene Seymour, M.D., MPH, co-founder and CEO 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 $4.5 billion.”
NanoViricides said it provides information regarding its achievements, major corporate events and business strategy via press releases, quarterly and annual reports and other SEC filings. It advised investors and shareholders to obtain their information from these authentic sources and perform due diligence based on credible and authoritative sources. The company further advised shareholders and investors they should not rely on false and baseless statements from unknown and phantom entities, such as this post and a prior post by an admitted short seller, both published on the Seeking Alpha web site.
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 the defamatory, malicious and libelous Feb. 11 article about the company on the Seeking Alpha web site.