Obviously NNVC is already behind schedule. It's somewhere in the midst of cell culture studies (and being NNVC, probably closer to the start than to the end) and thus has not started whole animal efficacy studies. So there is no possibility of the optimum candidate being selected by the end of July.
If we are very lucky NNVC will have selected its optimum ocular Herpescide candidate by the end of this year. Tox prep will then take another 6 months. Tox completed by the end of 2017 is an outside possibility, assuming NNVC can ramp up production sufficiently (big assumption). (And keep in mind that all my previous prognostications about NNVC proved over optimistic, this one is likely to be no different.)
Sometime before phase 2 clinical trials are completed NNVC will have to raise a lot more cash, by selling a lot more stock.