NanoViricides (NNVC) 10-Q 16 Nov 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2020	Nov. 14, 2020
Document And Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Registrant Name	NANOVIRICIDES, INC.
Entity Central Index Key	0001379006
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock
Entity Filer Category	Non-accelerated Filer
Trading Symbol	NNVC
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		10,665,000
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	true

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2020	Jun. 30, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 21,791,822	$ 13,708,594
Prepaid expenses	232,806	277,063
Total current assets	22,024,628	13,985,657
PROPERTY AND EQUIPMENT
Property and equipment	14,135,800	14,100,815
Accumulated depreciation	(4,731,546)	(4,556,384)
Property and equipment, net	9,404,254	9,544,431
TRADEMARK AND PATENTS
Trademark and patents	458,954	458,954
Accumulated amortization	(102,633)	(100,566)
Trademark and patents, net	356,321	358,388
OTHER ASSETS
Deferred financing costs	53,214	12,190
Security deposits	3,515	3,515
Service agreements	6,248	10,158
Other assets	62,977	25,863
Total assets	31,848,180	23,914,339
CURRENT LIABILITIES:
Mortgage note payable - related party	1,091,812	1,081,987
Accounts payable	258,167	380,727
Accounts payable - related party	437,818	561,580
Loan payable	15,809	62,843
Accrued expenses	62,295	69,240
Total current liabilities	1,865,901	2,156,377
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value; 150,000,000 shares authorized, 10,665,931 and 9,083,414 shares issued and outstanding at September 30, 2020 and June 30, 2020, respectively	10,666	9,083
Additional paid-in capital	137,845,601	127,311,634
Accumulated deficit	(107,874,357)	(105,563,124)
Total stockholders' equity	29,982,279	21,757,962
Total liabilities and stockholders' equity	31,848,180	23,914,339
Series A Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY:
Series A Convertible Preferred stock, $0.001 par value, 10,000,000 shares designated, 368,989 and 368,602 shares issued and outstanding, at September 30, 2020 and June 30, 2020, respectively	$ 369	$ 369

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Jun. 30, 2020
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	10,665,931	9,083,414
Common stock, shares, outstanding	10,665,931	9,083,414
Series A Convertible Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	368,989	368,602
Preferred stock, shares outstanding	368,989	368,602

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
OPERATING EXPENSES
Research and development	$ 1,573,071	$ 1,482,405
General and administrative	697,312	505,472
Total operating expenses	2,270,383	1,987,877
LOSS FROM OPERATIONS	(2,270,383)	(1,987,877)
OTHER INCOME (EXPENSE):
Interest income	3,059	5,217
Interest expense	(43,909)	0
Change in fair value of derivative liability		421,527
Other (expense) income, net	(40,850)	426,744
LOSS BEFORE INCOME TAX PROVISION	(2,311,233)	(1,561,133)
INCOME TAX PROVISION	0	0
NET LOSS	$ (2,311,233)	$ (1,561,133)
NET LOSS PER COMMON SHARE
Net loss per common share- basic and diluted	$ (0.22)	$ (0.41)
Weighted average common shares outstanding
Weighted average common shares outstanding - basic and diluted	10,487,601	3,845,016

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Jun. 30, 2019	$ 256	$ 3,845	$ 102,712,845	$ (92,116,586)	$ 10,600,360
Balance (in shares) at Jun. 30, 2019	255,714	3,844,921
Series A preferred stock issued for employee stock compensation			51,398		51,398
Series A preferred stock issued for employee stock compensation (in shares)	387
Common stock issued for consulting and legal services rendered		$ 6	26,994		27,000
Common stock issued for consulting and legal services rendered (in shares)		6,201
Warrants issued to Scientific Advisory Board			908		908
Common shares issued for Directors fees		$ 3	11,247		11,250
Common shares issued for Directors fees (in shares)		2,553
Net loss				(1,561,133)	(1,561,133)
Balance at Sep. 30, 2019	$ 256	$ 3,854	102,803,392	(93,677,719)	9,129,783
Balance (in shares) at Sep. 30, 2019	256,101	3,853,675
Balance at Jun. 30, 2020	$ 369	$ 9,083	127,311,634	(105,563,124)	21,757,962
Balance (in shares) at Jun. 30, 2020	368,602	9,083,414
Series A preferred stock issued for employee stock compensation	$ 0	$ 0	53,098	0	53,098
Series A preferred stock issued for employee stock compensation (in shares)	387	0
Net proceeds from issuance of common stock in connection with equity financings		$ 1,576	10,440,640		10,442,216
Net proceeds from issuance of common stock in connection with equity financings (in shares)		1,575,342
Common stock issued for consulting and legal services rendered		$ 5	26,995		27,000
Common stock issued for consulting and legal services rendered (in shares)		5,135
Warrants issued to Scientific Advisory Board			1,986		1,986
Common shares issued for Directors fees		$ 2	11,248		11,250
Common shares issued for Directors fees (in shares)		2,040
Net loss				(2,311,233)	(2,311,233)
Balance at Sep. 30, 2020	$ 369	$ 10,666	$ 137,845,601	$ (107,874,357)	$ 29,982,279
Balance (in shares) at Sep. 30, 2020	368,989	10,665,931

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,311,233)	$ (1,561,133)
Adjustments to reconcile net loss to net cash used in operating activities
Preferred shares issued as compensation	53,098	51,398
Common shares issued as compensation and for services	38,250	38,250
Amortization of loan origination fees	9,825	0
Warrants granted to Scientific Advisory Board	1,986	908
Depreciation	175,162	172,811
Amortization	2,067	2,068
Change in fair value of derivative liabilities	0	(421,527)
Changes in operating assets and liabilities:
Prepaid expenses	44,257	49,419
Other assets	3,910	3,910
Accounts payable	(122,560)	346,864
Accounts payable - related party	(123,762)	(109,366)
Accrued expenses	(6,945)	(7,612)
NET CASH USED IN OPERATING ACTIVITIES	(2,235,945)	(1,434,010)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(34,985)	(4,139)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock and warrants	10,442,216	0
Deferred financing costs	(41,024)	(242,105)
Payment of loan payable	(47,034)	0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	10,354,158	(242,105)
NET CHANGE IN CASH AND CASH EQUIVALENTS	8,083,228	(1,680,254)
Cash and cash equivalents at beginning of period	13,708,594	2,555,207
Cash and cash equivalents at end of period	21,791,822	874,953
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Interest paid	589	0
Income tax paid	$ 0	$ 0

Organization and Nature of Busi

Organization and Nature of Business	3 Months Ended
	Sep. 30, 2020
Organization and Nature of Business
Organization and Nature of Business	Note 1 – Organization and Nature of Business NanoViricides, Inc. (the “Company”) is a nano-biopharmaceutical research and development company specializing in the discovery, development, and commercialization of drugs to combat viral infections using its unique and novel nanomedicines technology. NanoViricides is also unique in the bio-pharma field in that it possesses its own state of the art facilities for the design, synthesis, analysis and characterization of the nanomedicines that we develop, as well as for production scale-up, and c-GMP-like production in quantities needed for human clinical trials, where our design, development, and production work is performed. The biological studies such as the effectiveness, safety, bio-distribution and Pharmacokinetics/Pharmacodynamics on our drug candidates are performed by external collaborators and contract organizations. We are a company with several drugs in various stages of early development. In our lead antiviral program against herpes viruses, i.e. the HerpeCide™ program alone, we have drug candidates against at least five indications at different stages of development. Of these, the Company is advancing the shingles drug candidate towards human clinical trials. The IND-enabling Safety/Toxicology studies required for doing so have begun as of the end of December 2018 at the contract research organization (“CRO”) BASi, Indiana. Typically these studies may last six to nine months. If successful, the Company intends to file an IND after receiving a formal report on these studies from BASi. In addition, our drug candidates against HSV-1 “cold sores” and HSV-2 “genital herpes” are in advanced studies and are expected to follow the shingles drug candidate into human clinical trials. Shingles in adults and chicken pox in children is caused by the same virus, namely VZV (Varicella-zoster virus, aka HHV-3 or human herpesvirus-3). There are estimated to be approximately 120,000‑150,000 annual chickenpox cases in the USA in the post-vaccination-era, i.e. since childhood vaccination with the live attenuated varicella virus Oka strain has become standard. In addition, we have drugs in development against all influenzas in our FluCide™ program, as well as drug candidates against HIV/AIDS, Dengue, Ebola/Marburg, and other viruses. As the pandemic COVID-19 caused by the SARS-CoV-2 coronavirus was breaking out, the Company bootstrapped a rapid drug development program to develop drug candidates for the treatment of SARS-CoV-2 infection. With the advantages of our prior work on coronaviruses, and having a library of chemical ligands, many of them already synthesized in our lab, we were able to advance this program very quickly into cell culture studies against coronaviruses. We reported these studies were successful in a May 12, 2020 press release. We believe that this program is likely to advance rapidly towards human clinical trials due to the global COVID-19 pandemic emergency situation. Our drugs are based on several patents, patent applications, provisional patent applications, and other proprietary intellectual property held by TheraCour Pharma, Inc. (“TheraCour”), to which we have broad, exclusive licenses. The first license agreement we executed with TheraCour on September 1, 2005 (“Exclusive License Agreement”), gave us an exclusive, worldwide license for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Herpes Simplex Virus (HSV), Influenza and Asian Bird Flu Virus. On February 15, 2010, the Company executed an Additional License Agreement with TheraCour. Pursuant to the Additional License Agreement, the Company was granted exclusive licenses for technologies, developed by TheraCour, for the development of drug candidates for the treatment of Dengue viruses, Ebola/Marburg viruses, Japanese Encephalitis, viruses causing viral Conjunctivitis (a disease of the eye) and Ocular Herpes. In addition, on November 1, 2019, the Company entered into a world-wide, exclusive, sub-licensable, license (“VZV License Agreement”) to use, promote, offer for sale, import, export, sell and distribute drugs that treat VZV infections, using TheraCour’s proprietary as well as patented technology and intellectual property. The discovery of ligands and polymer materials as well as formulations, the chemistry and chemical characterization, as well as process development and related work will be performed by TheraCour under the same compensation terms as prior agreements between the parties, with no duplication of costs allowed. Upon commercialization, NanoViricides will pay 15% of net sales to TheraCour, as defined in the agreement. The Company was not required to make any upfront payments to TheraCour and agreed to the following milestone payments to TheraCour; the issuance of 75,000 shares of the Company’s Series A Convertible Preferred Stock upon the grant of an IND Application; $1,500,000 in cash upon completion of Phase I Clinical Trials; $2,500,000 in cash upon completion of Phase II clinical trials; and $5,000,000 in cash upon completion of Phase III clinical trials. The Company has requested TheraCour for a license in the field of coronaviruses. A Memorandum of Understanding (“MOU”) towards licensing this field has been agreed to and executed on June 8, 2020. The MOU provides a limited license to the Company for the entire application of human coronavirus infections, while the full license is being perfected. The Company is in the process of appointing a third party consulting firm for independent evaluation of this market space. The terms of the COVID License Agreement, shall, except as otherwise specified in the MOU, be generally consistent with the VZV License Agreement dated November 1, 2019, and shall include consistent milestone payments, royalties and sublicense and income derived from grants and contracts.

Liquidity

Liquidity	3 Months Ended
	Sep. 30, 2020
Liquidity
Liquidity	Note 2 - Liquidity The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets and liquidation of liabilities in the normal course of business. As reflected in the financial statements, the Company has an accumulated deficit at September 30, 2020 of approximately $107.9 million and a net loss of approximately $2.3 million and net cash used in operating activities of approximately $2.2 million for the three months then ended. In addition, the Company has not generated any revenues and no revenues are anticipated in the foreseeable future. Since May 2005, the Company has been engaged exclusively in research and development activities focused on developing targeted antiviral drugs. The Company has not yet commenced any product commercialization. Such losses are expected to continue for the foreseeable future and until such time, if ever, as the Company is able to attain sales levels sufficient to support its operations. There can be no assurance that the Company will achieve or maintain profitability in the future. As of September 30, 2020, the Company had available cash and cash equivalents of approximately $21.8 million. The Company has focused its efforts primarily on a single lead program to minimize cost outlays, namely, taking the shingles drug candidate against VZV into human clinical trials. Management has engaged in an additional drug development program for COVID-19 with limited additional costs in the current development stage, and anticipates that costs of advanced drug development for COVID-19 are likely to be supported by non-dilutive government funding or equity-based funding if needed for future human clinical trials. On July 8, 2020 the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Kingswood Capital Markets, a Division of Benchmark Investments, Inc. (“Kingswood”). The offering was consummated on July 10, 2020, whereby the Company sold 1,369,863 shares of common stock and a fully exercised Underwriters’ over-allotment option of 205,479 additional shares at the public offering price of $7.30 per share. No warrants were issued in this offering. The net proceeds to the Company from the offering was approximately $10.4 million after deducting underwriting discounts and commissions and other estimated offering expenses. On July 31, 2020, the Company entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. and Kingswood (each a “Sales Agent” and collectively, the “Sales Agents”), pursuant to which the Company may offer and sell, from time to time, through or to the Sales Agents, shares of common stock (the “Placement Shares”), having an aggregate offering price of up to $50 million (the “ATM Offering”). Sales pursuant to the Sales Agreement will be made only upon instructions by the Company to the Sales Agents, and the Company cannot provide any assurances that it will issue any shares pursuant to the Sales Agreement. Actual sales will depend on a variety of factors to be determined by the Company from time to time, including (among others) market conditions, the trading price of the Company’s common stock, capital needs and determinations by the Company of the appropriate sources of funding for the Company. The Company is not obligated to make any sales of common stock under the Sales Agreement and the Company cannot provide any assurances that it will issue any shares pursuant to the Sales Agreement. The Company will pay a commission rate of up to 3.5% of the gross sales price per share sold and agreed to reimburse the Sales Agents for certain specified expenses, including the fees and disbursements of its legal counsel in an amount not to exceed $50,000 and have agreed to reimburse the Sales Agents an amount not to exceed $2,500 per quarter during the term of the Sales Agreement for legal fees to be incurred by the Sales Agents. The Company has also agreed pursuant to the Sales Agreement to provide each Sales Agent with customary indemnification and contribution rights. The Company believes that it has several important milestones that it will be achieving in the ensuing year. Management believes that as it achieves these milestones, the Company’s ability to raise additional funds in the public markets would be enhanced. The Company has not experienced a direct financial adverse impact of the effects of the Coronavirus (COVID-19) pandemic. However the emergence of widespread health emergencies due to COVID-19 may lead to regional quarantines, shutdowns, shortages, disruptions of supply chains, and economic instability. The impact of COVID-19 on the financial markets and the overall economy are highly uncertain and cannot be predicted at this time. Though the Company has not experienced a direct financial impact, if the financial markets and/or the overall economy are impacted for an extended period, the Company’s ability to raise funds, in the future, may be materially adversely affected. Management believes that the Company’s existing resources will be sufficient to fund the Company’s planned operations and expenditures through November 2021. However, the Company cannot provide assurance that its plans will not change or that changed circumstances will not result in the depletion of its capital resources more rapidly than it currently anticipates. The Company will need to raise additional capital to fund its long-term operations and research and development plans including human clinical trials for its various drug candidates until it generates revenue which reaches a level sufficient to provide self-sustaining cash flows. The accompanying financial statements do not include any adjustments that may result from the outcome of such unidentified uncertainties.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 3 - Summary of Significant Accounting Policies Basis of Presentation – Interim Financial Information The accompanying unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10‑Q and Article 10 of Regulation S-X of the Securities and Exchange Commission for Interim Reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) that are, in the opinion of management, considered necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. The accompanying financial statements and the information included under the heading “Management’s Discussion and Analysis or Plan of Operation” should be read in conjunction with our Company’s audited financial statements and related notes included in our Company’s Form 10‑K for the fiscal year ended June 30, 2020 filed with the SEC on October 13, 2020. For a summary of significant accounting policies, see the Company’s Annual Report on Form 10‑K for the fiscal year ended June 30, 2020 filed on October 13, 2020. Net Loss per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through stock options, warrants and convertible preferred stock. The following table shows the number of potentially outstanding dilutive common shares excluded from the diluted net loss per common share calculation, as they were anti-dilutive: Potentially Outstanding Dilutive Common Shares For the For the Three Months Three Months Ended Ended September 30, 2020 September 30, 2019 Options 5,000 5,000 Warrants 21,933 398,728 Total potentially outstanding dilutive common shares 26,933 403,728 The Company has 368,989 shares of Series A preferred stock outstanding as of September 30, 2020. Only in the event of a “change of control” of the Company, each Series A preferred share is convertible to 3.5 shares of its new common stock. A “change of control” is defined as an event in which the Company’s shareholders become 60% or less owners of a new entity as a result of a change of ownership, merger or acquisition of the Company or the Company’s intellectual property. In the absence of a change of control event, the Series A preferred stock is not convertible into common stock, and does not carry any dividend rights or any other financial effects. At September 30, 2020 the number of potentially dilutive shares of the Company’s common stock into which these Series A preferred shares can be converted into is 1,291,462, and is not included in diluted earnings per share since the shares are contingently convertible only upon a change of control.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2020
Related Party Transactions
Related Party Transactions	Note 4 - Related Party Transactions Related Parties Related parties with whom the Company had transactions are: Related Parties Relationship Dr. Anil R. Diwan Chairman, President, CEO, significant stockholder and Director TheraCour Pharma, Inc.(“TheraCour”) An entity owned and controlled by Dr. Anil R. Diwan For the three months ended September 30, September 30, Property and Equipment 2020 2019 During the reporting period, TheraCour acquired property and equipment on behalf of the Company from third party vendors and sold such property and equipment, at cost to the Company $ 2,560 $ — As of September 30, June 30, 2020 2020 Account Payable – Related Party Pursuant to an Exclusive License Agreement with TheraCour, the Company was granted exclusive licenses for technologies developed by TheraCour for the virus types: HIV, HCV, Herpes, Asian (bird) flu, Influenza and rabies. On November 1, 2019, the Company entered into the VZV Licensing Agreement with TheraCour. In consideration for obtaining these exclusive licenses, we agreed: (1) that TheraCour can charge its costs (direct and indirect) plus no more than 30% of certain direct costs as a development fee and such development fees shall be due and payable in periodic installments as billed, (2) we will pay $2,000 or actual costs each month, whichever is higher for other general and administrative expenses incurred by TheraCour on our behalf, (3) to make royalty payments of 15% (calculated as a percentage of net sales of the licensed drugs) to TheraCour and; (4) to pay an advance payment equal to twice the amount of the previous months invoice to be applied as a prepayment towards expenses. On October 2, 2018, the Company agreed to enter into an agreement with TheraCour for a waiver of two months worth of prepaid balance in advance of anticipated invoicing, due under prior agreements until the filing of an IND and the application of the then current advance as a credit against current open invoices. Additionally, TheraCour agreed to defer $25,000 per month of development fees, beginning with July 2018 through December 31, 2019. Accounts payable due TheraCour at September 30, 2020 was $928,818 which was offset by a two month advance (see above) of $491,000. $ 437,818 $ 561,580 For the three months ended September 30, September 30, 2020 2019 Research and Development Costs Paid to Related Party Development fees and other costs charged by and paid to TheraCour pursuant to license agreements between TheraCour and the Company for the development of the Company’s drug pipeline. No royalties are due TheraCour from the Company at September 30, 2020 and June 30, 2020. $ 648,324 $ 576,207 Mortgage Note Payable - Related Party On December 16, 2019, the Company entered into an Open End Mortgage Note (the “Note”) with Dr. Anil Diwan, the Company’s founder, Chairman, President and CEO, to loan the Company up to $2,000,000 in two tranches of $1,000,000 (the “Loan”). The Note bears interest at the rate of 12% per annum and is secured by a mortgage granted against the Company’s headquarters. Dr. Anil Diwan received 10,000 shares of the Company’s Series A preferred stock as a loan origination fee which was recorded as a debt discount and is to be amortized over the one-year term of the loan using effective interest method. The fair value of the 10,000 shares of the Company’s Series A preferred stock when issued on December 16, 2019 was $39,301. The Series A preferred stock fair value is based on the greater of the i) the converted value to common at a ratio of 1:3.5; or ii) the value of the voting rights since the holder would lose the voting rights upon conversion. For the assumptions used in calculating the fair value of the preferred shares, the conversion of the shares is triggered by a change of control. Amortization expense on the loan origination fee for the three months ended September 30, 2020 was $9,825. As of September 30, 2020, the Company has drawn down $1.1 million of this loan and may, at its option, draw down the remainder of the loan. Interest is payable only on the amount drawn down. The lender had escrowed $132,000 of interest payable pursuant to the Loan. The balance at September 30, 2020 of the prepaid interest escrowed by the lender is $29,040 and is included in prepaid expenses. For the three months ended September 30, 2020, the Company incurred interest expense of $33,733, which reduced the interest escrow balance included in prepaid expenses. On April 30, 2020, the Company and Dr. Diwan mutually agreed to extend the maturity date of the note at the Company’s option, to May 15, 2021, with the rest of the terms remaining the same. At September 30, 2020, mortgage note payable – related party consisted of: Mortgage note payable $ 1,100,000 Less: unamortized loan origination fee (8,188) Net mortgage note payable $ 1,091,812

Property and Equipment

Property and Equipment	3 Months Ended
	Sep. 30, 2020
Property and Equipment
Property and Equipment	Note 5 - Property and Equipment Property and equipment, stated at cost, less accumulated depreciation consisted of the following: September 30, June 30, 2020 2020 GMP Facility $ 8,020,471 $ 8,020,471 Land 260,000 260,000 Office Equipment 57,781 57,781 Furniture and Fixtures 5,607 5,607 Lab Equipment 5,791,941 5,756,956 Total Property and Equipment 14,135,800 14,100,815 Less Accumulated Depreciation (4,731,546) (4,556,384) Property and Equipment, Net $ 9,404,254 $ 9,544,431 Depreciation expense for the three months ended September 30, 2020 and 2019 was $175,162 and $172,811, respectively.

Trademark and Patents

Trademark and Patents	3 Months Ended
	Sep. 30, 2020
Trademarks and Patents
Trademarks and Patents	Note 6 - Trademark and Patents Trademark and patents, stated at cost, less accumulated amortization consisted of the following: September 30, June 30, 2020 2020 Trademarks and Patents $ 458,954 $ 458,954 Less Accumulated Amortization (102,633) (100,566) Trademarks and Patents, Net $ 356,321 $ 358,388 Amortization expense amounted to $2,067 and $2,068 for the three months ended September 30, 2020 and 2019, respectively.

Accrued expenses

Accrued expenses	3 Months Ended
	Sep. 30, 2020
Accrued expenses
Accrued expenses	Note 7 - Accrued expenses Accrued expenses consisted of the following: September 30, June 30, 2020 2020 Severance payment $ 12,000 $ 21,000 Accrued payroll 25,195 38,240 State taxes 25,100 — Consultant — 10,000 Accrued Expenses $ 62,295 $ 69,240

Loan Payable

Loan Payable	3 Months Ended
	Sep. 30, 2020
Loan Payable
Loan Payable	Note 8 – Loan Payable The Company financed its Directors and Officers liability insurance policies through BankDirect. The original loan balance, as of January 1, 2020, was $155,173 payable at the rate of $15,874 per month through October 2020 including interest at an annual interest rate of 5%. At September 30, 2020, the loan balance was $15,809. For the three months ended September 30, 2020, the Company incurred interest expense of $589.

Equity Transactions

Equity Transactions	3 Months Ended
	Sep. 30, 2020
Equity Transactions
Equity Transactions	Note 9 - Equity Transactions On July 11, 2018 the Board of Directors approved an extension of the employment agreement with Dr. Anil Diwan, the Company’s President. Pursuant to the terms of the employment agreement, the Company’s Board of Directors authorized the issuance of 26,250 shares of the Company’s Series A preferred stock to Dr. Anil Diwan. The shares shall be vested in one-third increments on June 30, 2019, June 30, 2020 and June 30, 2021 and are subject to forfeiture. The Company recognized non-cash compensation expense related to the issuance of the Series A preferred stock of $45,654 and $47,260 for the three months ended September 30, 2020 and 2019, respectively. The balance of $136,960 will be recognized as the remaining 8,750 shares vest and service is rendered for the year ended June 30, 2021. On July 8, 2020 the Company entered into an Underwriting Agreement with Kingswood. Pursuant to the terms and conditions of the Underwriting Agreement, the Company agreed to issue and sell 1,369,863 shares of our common stock, par value $0.001 per share (the “Underwritten Shares”), at a price to the public of $7.30 per share. Pursuant to the Underwriting Agreement, the Company also granted the underwriter an option to purchase up to an additional 205,479 shares of common stock (together with the Underwritten Shares, the “Shares”) within 45 days after the date of the Underwriting Agreement to cover over-allotments, if any. The shares were issued pursuant to a prospectus supplement dated July 8, 2020 which was filed with the Securities and Exchange Commission on July 9, 2020 in connection with a takedown from the Company’s shelf registration statement on Form S-3, as amended (File No. 333-237370), which became effective on April 2, 2020 and the base prospectus dated April 2, 2020 contained in that registration statement. The offering was consummated on July 10, 2020, whereby the Company sold 1,369,863 shares of common stock and a fully exercised Underwriters’ overallotment of 205,479 additional shares at the public offering price of $7.30 per share. The net proceeds to the Company from the offering was approximately $10.4 million after placement agent fees and other estimated offering expenses. The Company accounted for the proceeds of the Offering at July 10 2020 as follows: Gross proceeds $ 11,499,997 Less: offering costs and expenses (1,057,781) Net proceeds from issuance of common stock $ 10,442,216 For the three months ended September 30, 2020, the Company’s Board of Directors authorized the issuance of 387 fully vested shares of its Series A preferred stock for employee compensation and recorded an expense of $7,444. The fair value of the Series A Preferred stock was the following for the dates indicated: Date Shares Value 7/31/2020 129 3,155 8/31/2020 129 2,391 9/30/2020 129 1,898 387 $ 7,444 There is currently no market for the shares of Series A preferred stock and they can only be converted into shares of common stock upon a change of control of the Company as more fully described in the Certificate of Designation. The Company, therefore, estimated the fair value of the Series A preferred stock granted to various employees and others on the date of grant. The Series A preferred stock fair value is based on the greater of i) the converted value to common at a ratio of 1:3.5; or ii) the value of the voting rights since the Holder would lose the voting rights upon conversion. The conversion of the shares is triggered by a change of control. The common stock price for the three months ended September 30, 2020 was in the range $3.61 to $9.97. In August 2020, the Scientific Advisory Board (SAB) was granted fully vested warrants to purchase 572 shares of common stock with an exercise price of $6.86 per share expiring in August 2024. The fair value of the warrants was $1,986 and was recorded as consulting expense for the three months ended September 30, 2020. The Company estimated the fair value of the warrants granted to the Scientific Advisory Board on the date of grant using the Black-Scholes Option-Pricing Model with the following weighted-average assumptions: Expected life (year) Expected volatility 91.4 % Expected annual rate of quarterly dividends 0.00 % Risk-free rate(s) 0.235 % For the three months ended September 30, 2020, the Company’s Board of Directors authorized the issuance of 5,135 fully vested shares of its common stock with a restrictive legend for consulting services. The Company recorded an expense of $27,000 for the three months ended September 30, 2020, which was the fair value on the dates of issuance. For the three months ended September 30, 2020, the Company’s Board of Directors authorized the issuance of 2,040 fully vested shares of its common stock with a restrictive legend for Director Services. The Company recorded an expense of $11,250 for the three months ended September 30, 2020, which was the fair value on the date of issuance.

Stock Options and Warrants

Stock Options and Warrants	3 Months Ended
	Sep. 30, 2020
Stock Options and Warrants
Stock Options and Warrants	Note 10 - Stock Warrants and Options Stock Warrants Weighted Average Weighted Exercise Average Price Remaining Aggregate Number of per share Contractual Term Intrinsic Value Stock Warrants Shares ($) (years) ($) Outstanding and exercisable at June 30, 2020 22,218 $ 30.82 2.28 $ 4,533 Granted 572 6.86 — — Expired 857 40.80 — — Outstanding and exercisable at September 30, 2020 21,933 $ 29.80 2.16 $ — Of the above warrants, 2,000 expire in fiscal year ending June 30, 2021; 2,287 expire in fiscal year ending June 30, 2022, 14,787 expire in fiscal year ending June 30, 2023, 2,287 warrants expire in the fiscal year ending June 30, 2024 and 572 warrants expire in the fiscal year ending June 30, 2025. Stock Options Weighted Average Weighted Exercise Average Price Remaining Aggregate Number of per share Contractual Term Intrinsic Value Stock Options Shares ($) (years) ($) Outstanding and exercisable at June 30, 2020 5,000 $ 10.00 1.16 $ — Granted — — — — Outstanding and exercisable at September 30, 2020 5,000 10.00 .92 — The options expire on August 31, 2021.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2020
Commitments and Contingencies
Commitments and Contingencies	Note 11 - Commitments and Contingencies Legal Proceedings There are no pending legal proceedings against the Company to the best of the Company’s knowledge as of the date hereof and to the Company’s knowledge, no action, suit or proceeding has been threatened against the Company. Employment Agreements The Company and Dr. Diwan, President and Chairman of the Board of Directors, entered into an extension of employment agreement effective July 1, 2018 for a term of three years. Dr. Diwan’s will be paid an annual base salary of $400,000. Additionally, Dr. Diwan was awarded a grant of 26,250 shares of the Company’s Series A Preferred Stock. 8,750 shares vest equally on June 30, 2019, 2020 and 2021. Any unvested shares are subject to forfeiture. On March 3, 2010, the Company entered into an employment agreement with Dr. Jayant Tatake to serve as Vice President of Research and Development. The employment agreement provides for a term of four years with a base salary of $150,000. In addition, the Company issued 1,340 shares of Series A preferred stock and 1,786 shares of common stock upon entering into the agreement, and will issue an additional 1,340 shares of Series A preferred stock and 1,786 shares of common stock on each anniversary date of the agreement. The shares of Series A preferred stock were issued in recognition of Dr. Tatake’s work towards the achievement of several patents by the Company. The Compensation Committee of the Board of Directors has extended the current provisions of the employment agreement pending its review of current industry compensation arrangements and employment agreements. On March 3, 2010, the Company entered into an employment agreement with Dr. Randall Barton to serve as Chief Scientific Officer. The employment agreement provided for a term of four years with a base salary of $150,000. In addition, the Company issued 1,786 shares of common stock upon entering into the agreement, and will issue an additional 1,786 shares of common stock on each anniversary date of the agreement. The Compensation Committee of the Board of Directors has extended the current provisions of the employment agreement pending its review of current industry compensation arrangements and employment agreements. On May 30, 2013, the Company entered into an employment agreement with Meeta Vyas, wife of our President and Chairman of the Board, to serve as its Chief Financial Officer. The employment agreement provided for a term of three years with a base salary of $9,000 per month and 129 shares of Series A preferred stock, also on a monthly basis. On January 1, 2015, her cash compensation was increased to $10,800 per month. The agreement is renewable on an annual basis. The Compensation Committee of the Board of Directors has extended the current provisions of the employment agreement pending its review of current industry compensation arrangements and employment agreements. License Agreements The Company is dependent upon its license agreements with TheraCour (See Notes 1 and 4). If the Company lost the right to utilize any of the proprietary information that is the subject of the TheraCour license agreement on which it depends, the Company will incur substantial delays and costs in development of its drug candidates. On November 1, 2019, the Company entered into the VZV Licensing Agreement with TheraCour for an exclusive license for the Company to use, promote, offer for sale, import, export, sell and distribute products for the treatment of VZV derived indications. Process development and related work will be performed by TheraCour under the same compensation terms as prior agreements between the parties, with no duplication of costs allowed. Upon commercialization, NanoViricides will pay 15% of net sales to TheraCour, as defined in the agreement. The Company was not required to make any upfront payments to TheraCour and agreed to the following milestone payments to TheraCour; the issuance of 75,000 shares of the Company’s Series A preferred stock upon the grant of an IND Application; $1,500,000 in cash upon completion of Phase I Clinical Trials; $2,500,000 in cash upon completion of Phase II clinical trials; and $5,000,000 in cash upon completion of Phase III clinical trials. On June 8, 2020, the Company executed a Memorandum of Understanding (“MOU”) with TheraCour that provides a limited license to the Company for the entire application of human coronavirus infections, while the full license is being perfected. The Company is in the process of appointing a third party consulting firm for independent evaluation of this market space. Dr. Anil Diwan is recused from these discussions due to a conflict of interest. The terms of the COVID License Agreement, shall, except as otherwise specified in the MOU, be generally consistent with the VZV License Agreement dated November 1, 2019, and shall include consistent milestone payments, royalties and sublicense and income derived from grants and contracts.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2020
Summary of Significant Accounting Policies
Basis of Presentation - Interim Financial Information	Basis of Presentation – Interim Financial Information The accompanying unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10‑Q and Article 10 of Regulation S-X of the Securities and Exchange Commission for Interim Reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) that are, in the opinion of management, considered necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. The accompanying financial statements and the information included under the heading “Management’s Discussion and Analysis or Plan of Operation” should be read in conjunction with our Company’s audited financial statements and related notes included in our Company’s Form 10‑K for the fiscal year ended June 30, 2020 filed with the SEC on October 13, 2020. For a summary of significant accounting policies, see the Company’s Annual Report on Form 10‑K for the fiscal year ended June 30, 2020 filed on October 13, 2020.
Net Loss per Common Share	Net Loss per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through stock options, warrants and convertible preferred stock. The following table shows the number of potentially outstanding dilutive common shares excluded from the diluted net loss per common share calculation, as they were anti-dilutive: Potentially Outstanding Dilutive Common Shares For the For the Three Months Three Months Ended Ended September 30, 2020 September 30, 2019 Options 5,000 5,000 Warrants 21,933 398,728 Total potentially outstanding dilutive common shares 26,933 403,728 The Company has 368,989 shares of Series A preferred stock outstanding as of September 30, 2020. Only in the event of a “change of control” of the Company, each Series A preferred share is convertible to 3.5 shares of its new common stock. A “change of control” is defined as an event in which the Company’s shareholders become 60% or less owners of a new entity as a result of a change of ownership, merger or acquisition of the Company or the Company’s intellectual property. In the absence of a change of control event, the Series A preferred stock is not convertible into common stock, and does not carry any dividend rights or any other financial effects. At September 30, 2020 the number of potentially dilutive shares of the Company’s common stock into which these Series A preferred shares can be converted into is 1,291,462, and is not included in diluted earnings per share since the shares are contingently convertible only upon a change of control.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2020
Summary of Significant Accounting Policies
Schedule of potentially outstanding dilutive common shares excluded from the diluted net loss per common share calculation	The following table shows the number of potentially outstanding dilutive common shares excluded from the diluted net loss per common share calculation, as they were anti-dilutive: Potentially Outstanding Dilutive Common Shares For the For the Three Months Three Months Ended Ended September 30, 2020 September 30, 2019 Options 5,000 5,000 Warrants 21,933 398,728 Total potentially outstanding dilutive common shares 26,933 403,728

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Sep. 30, 2020
Related Party Transactions
Summary of related parties	For the three months ended September 30, September 30, Property and Equipment 2020 2019 During the reporting period, TheraCour acquired property and equipment on behalf of the Company from third party vendors and sold such property and equipment, at cost to the Company $ 2,560 $ — As of September 30, June 30, 2020 2020 Account Payable – Related Party Pursuant to an Exclusive License Agreement with TheraCour, the Company was granted exclusive licenses for technologies developed by TheraCour for the virus types: HIV, HCV, Herpes, Asian (bird) flu, Influenza and rabies. On November 1, 2019, the Company entered into the VZV Licensing Agreement with TheraCour. In consideration for obtaining these exclusive licenses, we agreed: (1) that TheraCour can charge its costs (direct and indirect) plus no more than 30% of certain direct costs as a development fee and such development fees shall be due and payable in periodic installments as billed, (2) we will pay $2,000 or actual costs each month, whichever is higher for other general and administrative expenses incurred by TheraCour on our behalf, (3) to make royalty payments of 15% (calculated as a percentage of net sales of the licensed drugs) to TheraCour and; (4) to pay an advance payment equal to twice the amount of the previous months invoice to be applied as a prepayment towards expenses. On October 2, 2018, the Company agreed to enter into an agreement with TheraCour for a waiver of two months worth of prepaid balance in advance of anticipated invoicing, due under prior agreements until the filing of an IND and the application of the then current advance as a credit against current open invoices. Additionally, TheraCour agreed to defer $25,000 per month of development fees, beginning with July 2018 through December 31, 2019. Accounts payable due TheraCour at September 30, 2020 was $928,818 which was offset by a two month advance (see above) of $491,000. $ 437,818 $ 561,580 For the three months ended September 30, September 30, 2020 2019 Research and Development Costs Paid to Related Party Development fees and other costs charged by and paid to TheraCour pursuant to license agreements between TheraCour and the Company for the development of the Company’s drug pipeline. No royalties are due TheraCour from the Company at September 30, 2020 and June 30, 2020. $ 648,324 $ 576,207
Schedule of mortgage note payable - related party	At September 30, 2020, mortgage note payable – related party consisted of: Mortgage note payable $ 1,100,000 Less: unamortized loan origination fee (8,188) Net mortgage note payable $ 1,091,812

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Sep. 30, 2020
Property and Equipment
Schedule of property and equipment	Property and equipment, stated at cost, less accumulated depreciation consisted of the following: September 30, June 30, 2020 2020 GMP Facility $ 8,020,471 $ 8,020,471 Land 260,000 260,000 Office Equipment 57,781 57,781 Furniture and Fixtures 5,607 5,607 Lab Equipment 5,791,941 5,756,956 Total Property and Equipment 14,135,800 14,100,815 Less Accumulated Depreciation (4,731,546) (4,556,384) Property and Equipment, Net $ 9,404,254 $ 9,544,431

Trademark and Patents (Tables)

Trademark and Patents (Tables)	3 Months Ended
	Sep. 30, 2020
Trademarks and Patents
Schedule of trademark and patents, stated at cost, less accumulated amortization	Trademark and patents, stated at cost, less accumulated amortization consisted of the following: September 30, June 30, 2020 2020 Trademarks and Patents $ 458,954 $ 458,954 Less Accumulated Amortization (102,633) (100,566) Trademarks and Patents, Net $ 356,321 $ 358,388

Accrued expenses (Tables)

Accrued expenses (Tables)	3 Months Ended
	Sep. 30, 2020
Accrued expenses
Schedule of accrued expenses	Accrued expenses consisted of the following: September 30, June 30, 2020 2020 Severance payment $ 12,000 $ 21,000 Accrued payroll 25,195 38,240 State taxes 25,100 — Consultant — 10,000 Accrued Expenses $ 62,295 $ 69,240

Equity Transactions (Tables)

Equity Transactions (Tables)	3 Months Ended
	Sep. 30, 2020
Schedule of proceeds of the offering	The Company accounted for the proceeds of the Offering at July 10 2020 as follows: Gross proceeds $ 11,499,997 Less: offering costs and expenses (1,057,781) Net proceeds from issuance of common stock $ 10,442,216
Schedule of estimation of estimated the fair value of the warrants granted	The Company estimated the fair value of the warrants granted to the Scientific Advisory Board on the date of grant using the Black-Scholes Option-Pricing Model with the following weighted-average assumptions: Expected life (year) Expected volatility 91.4 % Expected annual rate of quarterly dividends 0.00 % Risk-free rate(s) 0.235 %
Series A Preferred stock
Schedule of fair value of Series A Preferred Stock	The fair value of the Series A Preferred stock was the following for the dates indicated: Date Shares Value 7/31/2020 129 3,155 8/31/2020 129 2,391 9/30/2020 129 1,898 387 $ 7,444

Stock Options and Warrants (Tab

Stock Options and Warrants (Tables)	3 Months Ended
	Sep. 30, 2020
Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock option activity	Weighted Average Weighted Exercise Average Price Remaining Aggregate Number of per share Contractual Term Intrinsic Value Stock Options Shares ($) (years) ($) Outstanding and exercisable at June 30, 2020 5,000 $ 10.00 1.16 $ — Granted — — — — Outstanding and exercisable at September 30, 2020 5,000 10.00 .92 —
Stock Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock option activity	Weighted Average Weighted Exercise Average Price Remaining Aggregate Number of per share Contractual Term Intrinsic Value Stock Warrants Shares ($) (years) ($) Outstanding and exercisable at June 30, 2020 22,218 $ 30.82 2.28 $ 4,533 Granted 572 6.86 — — Expired 857 40.80 — — Outstanding and exercisable at September 30, 2020 21,933 $ 29.80 2.16 $ —

Organization and Nature of Bu_2

Organization and Nature of Business (Details) - USD ($)	Nov. 01, 2019	Sep. 30, 2020
Cash upon completion of Phase I Clinical Trials	$ 1,500,000
Cash upon completion of Phase II Clinical Trials	2,500,000
Cash upon completion of Phase III Clinical Trials	$ 5,000,000
TheraCour
Issuance of shares	75,000
Cash upon completion of Phase I Clinical Trials	$ 1,500,000
Cash upon completion of Phase II Clinical Trials	2,500,000
Cash upon completion of Phase III Clinical Trials	$ 5,000,000
Percentage of Net Sales Allocated for Royalty Payments	15.00%	15.00%
Series A Convertible Preferred Stock [Member]
Issuance of shares	75,000

Liquidity (Details)

Liquidity (Details) - USD ($)	Jul. 31, 2020	Jul. 10, 2020	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Financial Condition [Line Items]
Retained Earnings (Accumulated Deficit)			$ (107,874,357)		$ (105,563,124)
Net loss			(2,311,233)	$ (1,561,133)
Net Cash Provided by (Used in) Operating Activities			(2,235,945)	$ (1,434,010)
Revenue			0
Cash and cash equivalents			$ 21,791,822		$ 13,708,594
Sales Agreement [Member]
Financial Condition [Line Items]
Commission rate	3.50%
Fees and disbursements of legal counsel in an amount not to exceed	$ 50,000
Amount not to exceed quarter during the term of sales agreement	2,500
Underwriting option
Financial Condition [Line Items]
Underwriters option to purchase additional shares (in shares)		205,479
Price of a share		$ 7.30
Net proceeds from the offering		$ 10,400,000
Shares issued		1,369,863
Additional shares		205,479
ATM Offering [Member] | Sales Agreement [Member]
Financial Condition [Line Items]
Net proceeds from the offering	$ 50,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Warrants and Options (Details) - shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accounting Policies [Line Items]
Total potentially outstanding dilutive common shares	26,933	403,728
Employee Stock Option [Member]
Accounting Policies [Line Items]
Total potentially outstanding dilutive common shares	5,000	5,000
Derivative liability - Old Warrants
Accounting Policies [Line Items]
Total potentially outstanding dilutive common shares	21,933	398,728

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Sep. 30, 2020USD ($)shares	Sep. 30, 2019shares	Jun. 30, 2020shares
Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	26,933	403,728
Series A Convertible Preferred Stock [Member]
Accounting Policies [Line Items]
Preferred Stock, Shares Outstanding	368,989		368,602
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,291,462
Stockholders' Equity Note, Stock Split, Conversion Ratio	3.5
Percentage of Change of Control | $	$ 60

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Research and development	$ 1,573,071	$ 1,482,405
TheraCour
Property and Equipment	2,560
Account Payable - Related Party	437,818	561,580
Research and development	$ 648,324	$ 576,207

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)	Dec. 17, 2019USD ($)	Dec. 16, 2019USD ($)shares	Nov. 01, 2019	Sep. 30, 2020USD ($)shares	Sep. 30, 2019USD ($)	Jun. 30, 2020USD ($)
Related Party Transaction [Line Items]
Other General and Administrative Expense				$ 2,000
Percentage of Direct Costs				30.00%
Research and Development Expense				$ 1,573,071	$ 1,482,405
Accrued Royalties				$ 0		$ 0
TheraCour
Related Party Transaction [Line Items]
Percentage Of Net Sales Allocated For Royalty Payments			15.00%	15.00%
TheraCour
Related Party Transaction [Line Items]
Research and Development Expense				$ 648,324	$ 576,207
Series A Preferred stock
Related Party Transaction [Line Items]
Series A shares issued in exchange of deferred development fees owed (in shares) | shares		10,000
Stock Issued During Period, Shares, Share-based Compensation, Gross | shares				387
Stock Issued During Period, Value, Share-based Compensation, Gross		$ 39,301		$ 7,444
Converted value to common shares		3.5
Amortization expense on loan origination fee				$ 9,825
Series A Preferred stock | TheraCour
Related Party Transaction [Line Items]
Series A shares issued in exchange of deferred development fees owed (in shares) | shares				928,818
Stock Issued During Period, Value, Share-based Compensation, Gross	$ 2
Deferred development fees exchanged for shares				$ 491,000

Related Party Transactions - Mo

Related Party Transactions - Mortgage Note Payable - Related Party (Details)	Dec. 16, 2019USD ($)itemshares	Sep. 30, 2020USD ($)	Jan. 01, 2020USD ($)
Related Party Transaction [Line Items]
Amount of loan			$ 155,173
Amount of interest payable escrowed		$ 132,000
Amount of interest expense which reduced the interest escrow retained by the lender		33,733
Prepaid Interest		29,040
Series A Preferred stock
Related Party Transaction [Line Items]
Series A shares issued in exchange of deferred development fees owed (in shares) | shares	10,000
Series A shares issued in exchange of deferred development fees owed	$ 39,301	7,444
Amortization expense on loan origination fee		9,825
Open End Mortgage Note | Dr. Anil Diwan
Related Party Transaction [Line Items]
Number of tranches | item	2
Amount of loan per tranche	$ 1,000,000
Interest rate per annum (as a percent)	12.00%
Drew down amount		$ 1,100,000
Open End Mortgage Note | Dr. Anil Diwan | Maximum [Member]
Related Party Transaction [Line Items]
Amount of loan	$ 2,000,000

Related Party Transactions - _2

Related Party Transactions - Mortgage Note Payable - Related Party Tabular Information (Details)	Sep. 30, 2020USD ($)
Related Party Transactions
Mortgage note payable	$ 1,100,000
Less: unamortized loan origination fee	(8,188)
Net mortgage note payable	$ 1,091,812

Property and Equipment - Proper

Property and Equipment - Property and Equipment (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Property and Equipment
GMP Facility	$ 8,020,471	$ 8,020,471
Land	260,000	260,000
Office Equipment	57,781	57,781
Furniture and Fixtures	5,607	5,607
Lab Equipment	5,791,941	5,756,956
Total Property and Equipment	14,135,800	14,100,815
Less Accumulated Depreciation	(4,731,546)	(4,556,384)
Property and Equipment, Net	$ 9,404,254	$ 9,544,431

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Property and Equipment
Depreciation	$ 175,162	$ 172,811

Trademark and Patents - Tradema

Trademark and Patents - Trademarks and Patents (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Trademarks and Patents
Trademarks and Patents	$ 458,954	$ 458,954
Less Accumulated Amortization	(102,633)	(100,566)
Total amortization	$ 356,321	$ 358,388

Trademark and Patents - Additio

Trademark and Patents - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Trademarks and Patents
Amortization	$ 2,067	$ 2,068

Accrued expenses (Details)

Accrued expenses (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Accrued expenses
Severance payment	$ 12,000	$ 21,000
Accrued payroll	25,195	38,240
State taxes	25,100	0
Consultant	0	10,000
Accrued Expenses	$ 62,295	$ 69,240

Loan Payable (Details)

Loan Payable (Details) - USD ($)	Jan. 01, 2020	Sep. 30, 2020	Jun. 30, 2020
Loan Payable
Original Loan balance	$ 155,173
Amount of loan repayment per month	$ 15,874
Interest rate	5.00%
Loans Payable		$ 15,809	$ 62,843
Interest expense		$ 589

Equity Transactions - Proceeds

Equity Transactions - Proceeds of offering (Details)	Jul. 10, 2020USD ($)
Equity Transactions
Gross proceeds	$ 11,499,997
Less: offering costs and expenses	(1,057,781)
Net proceeds from issuance of common stock	$ 10,442,216

Equity Transactions - Fair Valu

Equity Transactions - Fair Value of Series A Preferred stock (Details) - Series A Preferred stock - USD ($)	Dec. 16, 2019	Jul. 11, 2018	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross			387
Stock Issued During Period, Value, Share-based Compensation, Gross	$ 39,301		$ 7,444
Issuance Date One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross		26,250	129
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 3,155
Issuance Date Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross			129
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 2,391
Issuance Date Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross			129
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 1,898

Equity Transactions - CEO (Deta

Equity Transactions - CEO (Details) - Chief Executive Officer [Member]	3 Months Ended
	Sep. 30, 2020
Expected life (year)	4 years
Expected volatility	91.40%
Expected annual rate of quarterly dividends	0.00%
Risk-free rate(s)	0.235%

Equity Transactions - Warrants

Equity Transactions - Warrants - Fair Value Assumptions (Details)	Sep. 30, 2020
Scientific Advisory Board Common Stock Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Valuation Technique	us-gaap:ValuationTechniqueOptionPricingModelMember

Equity Transactions - Additiona

Equity Transactions - Additional Information (Details) - USD ($)	Jul. 10, 2020	Jul. 08, 2020	Dec. 16, 2019	Jul. 11, 2018	Aug. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Common shares sold						10,665,931			9,083,414
Common Stock, Par or Stated Value Per Share						$ 0.001			$ 0.001
Underwriting option
Class of Stock [Line Items]
Common shares sold	1,369,863
Share Price	$ 7.30
Net proceeds from the offering	$ 10,400,000
Underwriters Option To Purchase Additional Shares, Number	205,479
Purchase Agreement With Institutional Investors [Member] | Underwriting option
Class of Stock [Line Items]
Underwriter's Option, Period To Avail Over Allotment Option		45 days
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		1,369,863
Proceeds from Issuance Initial Public Offering		$ 7.30
Common Stock, Par or Stated Value Per Share		$ 0.001
Net proceeds from the offering		$ 10,400,000
Underwriters Option To Purchase Additional Shares, Number		205,479
Derivative liability - Old Warrants
Class of Stock [Line Items]
Allocated Share-based Compensation Expense						$ 1,986
Number Of Common Stock To Be Issued Upon Conversion Of Warrants					572
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 6.86
Director [Member]
Class of Stock [Line Items]
Share-based Compensation						$ 11,250
Stock Issued During Period, Shares, Share-based Compensation, Gross						2,040
Consulting Services [Member]
Class of Stock [Line Items]
Share-based Compensation						$ 27,000
Stock Issued During Period, Shares, Share-based Compensation, Gross						5,135
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				33.33%
Employee Service Share-based Compensation, Non-vested Awards, Compensation Not yet Recognized, Stock Options				$ 136,960
Series A Convertible Preferred Stock [Member] | Forecast [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period								8,750
Series A Preferred stock
Class of Stock [Line Items]
Share-based Compensation						$ 45,654	$ 47,260
Stock Issued During Period, Shares, In Exchange For Deferred Development Fees			10,000
Stock Issued During Period, Shares, Share-based Compensation, Gross						387
Ratio of Converted Value To Common						3.50%
Series A Preferred stock | Minimum [Member]
Class of Stock [Line Items]
Share Price						$ 3.61
Series A Preferred stock | Maximum [Member]
Class of Stock [Line Items]
Share Price						$ 9.97
Series A Preferred stock | Employee Compensations [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period						387	387
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares						7,444

Stock Options and Warrants - St

Stock Options and Warrants - Stock Warrants (Details) - Stock Warrants - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding and exercisable	22,218
Number of Shares, Granted	572
Number of Shares, Expired or cancelled	857
Number of Shares, Outstanding and exercisable	21,933	22,218
Weighted Average Exercise Price per share, Outstanding and exercisable (dollars per share)	$ 30.82
Weighted Average Exercise Price per share, Granted (dollars per share)	6.86
Weighted Average Exercise Price per share, Expired or cancelled (dollars per share)	40.80
Weighted Average Exercise Price per share, Outstanding and exercisable (dollars per share)	$ 29.80	$ 30.82
Weighted Average Remaining Contractual Term (years), Expired	0 years
Weighted Average Remaining Contractual Term (years), Outstanding and exercisable	2 years 1 month 28 days	2 years 3 months 11 days
Aggregate Intrinsic Value, Outstanding and exercisable (in dollars)	$ 0	$ 4,533
Aggregate Intrinsic Value, Granted (in dollars)	0
Aggregate Intrinsic Value, Expired or cancelled (in dollars)	$ 0

Stock Options and Warrants - _2

Stock Options and Warrants - Stock options (Details) - Equity Option - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding and exercisable	5,000
Number of Shares, Granted	0
Number of Shares, Outstanding and exercisable	5,000	5,000
Weighted Average Exercise Price per share, Outstanding and exercisable (dollars per share)	$ 10
Weighted Average Exercise Price per share, Granted (dollars per share)	0
Weighted Average Exercise Price per share, Outstanding and exercisable (dollars per share)	$ 10	$ 10
Weighted Average Remaining Contractual Term (years), Granted	0 years
Weighted Average Remaining Contractual Term (years), Outstanding and exercisable	11 months 1 day	1 year 1 month 28 days
Aggregate Intrinsic Value, Outstanding and exercisable (in dollars)	$ 0	$ 0
Aggregate Intrinsic Value, Granted (in dollars)	$ 0

Stock Options and Warrant - Add

Stock Options and Warrant - Additional Information (Details)	3 Months Ended
	Sep. 30, 2020shares
June 30, 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants Exercisable	2,000
June 30 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants Exercisable	2,287
June 30, 2023 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants Exercisable	14,787
June 30 2024 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants Exercisable	2,287
June 30, 2025 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants Exercisable	572

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Nov. 01, 2019	Jan. 01, 2015	May 30, 2013	Mar. 03, 2010	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Commitments and Contingencies [Line Items]
Common stock, shares issued					10,665,931		9,083,414
Employment Agreement Term					3 years
Cash upon completion of Phase I Clinical Trials	$ 1,500,000
Cash upon completion of Phase II Clinical Trials	2,500,000
Cash upon completion of Phase III Clinical Trials	$ 5,000,000
TheraCour
Commitments and Contingencies [Line Items]
Stock Issued During Period, Shares, New Issues	75,000
Cash upon completion of Phase I Clinical Trials	$ 1,500,000
Cash upon completion of Phase II Clinical Trials	2,500,000
Cash upon completion of Phase III Clinical Trials	$ 5,000,000
Percentage of Net Sales Allocated for Royalty Payments	15.00%				15.00%
Series A Preferred stock
Commitments and Contingencies [Line Items]
Share-based Compensation					$ 45,654	$ 47,260
President And Board Of Directors, Chairman [Member]
Commitments and Contingencies [Line Items]
Base Salary					$ 400,000
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance					26,250
President And Board Of Directors, Chairman [Member] | Share-based Compensation Award, Tranche One [Member]
Commitments and Contingencies [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares					8,750
President And Board Of Directors, Chairman [Member] | Share-based Compensation Award, Tranche Two [Member]
Commitments and Contingencies [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares					8,750
President And Board Of Directors, Chairman [Member] | Share-based Compensation Award, Tranche Three [Member]
Commitments and Contingencies [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares					8,750
Chief Scientific Officer [Member]
Commitments and Contingencies [Line Items]
Common stock, shares issued				1,786
Additional Common Stock Shares Issued				1,786
Increase In Base Salary				$ 150,000
Employment Agreement Term				4 years
Vice President [Member]
Commitments and Contingencies [Line Items]
Common stock, shares issued				1,786
Additional Common Stock Shares Issued				1,786
Preferred stock, shares issued				1,340
Additional Preferred Stock Shares Issued				1,340
Increase In Base Salary				$ 150,000
Employment Agreement Term				4 years
Chief Financial Officer [Member]
Commitments and Contingencies [Line Items]
Increase In Base Salary		$ 10,800	$ 9,000
Employment Agreement Term			3 years
Chief Financial Officer [Member] | Series A Preferred stock
Commitments and Contingencies [Line Items]
Preferred stock, shares issued			129
Mr Taraporewala [Member]
Commitments and Contingencies [Line Items]
Percentage of Net Sales Allocated for Royalty Payments	15.00%