BioVie (BIVI) Q2 2026 earnings summary

Executive summary

• Focused on developing drug therapies for neurological, neurodegenerative disorders, and advanced liver disease, with lead candidates bezisterim (NE3107) and BIV201 in clinical trials for Alzheimer's, Parkinson's, Long COVID, and liver cirrhosis.

• Phase 2 and 3 clinical trials ongoing or recently completed for key programs, with significant grant funding and regulatory milestones achieved.

Financial highlights

• Net loss for the quarter ended December 31, 2025 was $6.1 million, down from $7.1 million in the prior year quarter.

• Net loss for the six months ended December 31, 2025 was $11.2 million, nearly flat compared to $11.3 million in the prior year period.

• Operating expenses for the quarter were $6.3 million, down from $7.3 million year-over-year; for the six months, $11.5 million versus $11.4 million.

• Cash and cash equivalents as of December 31, 2025 totaled $20.5 million; working capital was $18.8 million.

• No revenue generated; company remains pre-revenue.

Outlook and guidance

• No revenues expected in the foreseeable future; future operations depend on successful development, commercialization, and additional financing.

• Management anticipates funding needs will be met through equity sales, loans, or strategic transactions.

• Substantial doubt exists regarding ability to continue as a going concern without additional capital.