Biovie Inc SEC Filings

BioVie, Inc. (BIVI) is a development-stage biopharmaceutical company with no products approved for commercial sale and no revenues expected in the foreseeable future. The company reported approximately $17.5 million in cash and cash equivalents, stockholders' equity of about $19.0 million, and an accumulated deficit of approximately $352.1 million. For the year, reported net losses included $(17,911,585) and $(33,006,956) as referenced in the statements, with net loss per common share of $(12.12) for the most recent period on a weighted average of 1,477,372 shares. BioVie continues preclinical and clinical development activities, holds multiple issued and pending patents and patent applications, and lists significant operational risks including dependence on third-party contractors, need for additional capital, litigation, manufacturing and regulatory hurdles, and potential volatility and dilution from equity financings. Recent equity raises and warrant offerings are described, and management discloses lease, debt, and fair-value measurement items that affected financing costs and interest expense.

Cuong V Do, President & CEO and director of BioVie, purchased securities in the company's public offering. On 08/07/2025 he acquired 5,000 shares of common stock and received accompanying warrants covering 5,000 shares; the combined purchase price per share and warrant was $2.00 in connection with the offering that closed on 08/11/2025.

After the reported transactions the filing shows the reporting person beneficially owning 9,992 common shares and 5,050 warrants indirectly. The securities are held in the name of Do & Rickles Investments LLC.

BioVie Inc. completed a registered offering that generated approximately $10.4 million in net proceeds. The company sold 5,620,000 Units and 380,000 Pre-Funded Units, with each Unit containing one share of common stock and one warrant. Units were sold at $2.00 each and Pre-Funded Units at $1.999 each (reflecting a nominal $0.0001 exercise price for the Pre-Funded Warrants).

The Warrants began trading on The Nasdaq Capital Market under the symbol BIVIW on August 8, 2025; each Warrant is immediately exercisable for one share at an exercise price of $2.50 and expires five years from issuance. The Underwriter, ThinkEquity LLC, exercised part of its over-allotment and purchased 667,300 Warrants for nominal additional proceeds; it received 300,000 Underwriter's Warrants exercisable at $2.50 and containing registration and anti-dilution rights. The offering closed August 11, 2025, proceeds are for working capital and general corporate purposes, and the Company and its officers and directors agreed to a three-month lock-up.

BioVie Inc. is offering 5,620,000 Units at $2.00 each and 380,000 Pre‑funded Units, with gross offering proceeds of $11,999,962 and estimated proceeds to the company of $11,159,964.70 before expenses. Each Unit includes one share of Class A Common Stock and one Warrant exercisable at $2.50 for five years; Pre‑funded Warrants are exercisable at $0.0001. The underwriters have a 45‑day 15% over‑allotment option and a 7.0% underwriting discount.

The company is a clinical‑stage biopharmaceutical developer advancing bezisterim (NE3107) for Alzheimer’s disease, Parkinson’s disease and long COVID and BIV201 (continuous infusion terlipressin) for ascites. A Phase 3 AD trial experienced protocol and cGCP deviations at 15 sites, leaving 81 patients in the modified intent‑to‑treat population and 57 in the per‑protocol set; those sites were referred to FDA OSI and the trial is underpowered for primary endpoints. BioVie received a $13.1 million DOD grant for long COVID research and has commenced related trials.

Material risks disclosed include no approved products or revenues, substantial doubt about going concern, pending consolidated securities class action litigation that survived a motion to dismiss, and potential dilution from this offering and outstanding instruments. Common Stock trades on Nasdaq under BIVI; last reported price cited was $2.91 on August 7, 2025. Use of proceeds is for working capital and general corporate purposes.