BioVie (BIVI) Registration filing summary

Company overview and business model

• Clinical-stage company focused on drug therapies for neurological, neurodegenerative disorders, and advanced liver disease.

• Lead assets include bezisterim (NE3107) for Alzheimer's, Parkinson's, and Long COVID, and BIV201 (terlipressin) for liver cirrhosis complications.

• Bezisterim targets neuroinflammation and insulin resistance, with ongoing Phase 2b and Phase 3 trials in PD, AD, and Long COVID.

• BIV201 is a novel liquid formulation of terlipressin, targeting ascites in cirrhosis, with FDA Fast Track and Orphan Drug designations.

Financial performance and metrics

• Net loss for the year ended June 30, 2025 was $17.5 million, down from $32.1 million in 2024, mainly due to lower R&D expenses.

• As of March 31, 2026, cash and cash equivalents were $13.1 million, with working capital of $15.2 million and accumulated deficit of $368.6 million.

• No revenues have been generated to date; the company remains pre-revenue and expects continued losses until commercialization.

Use of proceeds and capital allocation

• Net proceeds from the offering will be used for working capital and general corporate purposes, including R&D, capital expenditures, and potential acquisitions.

• Management has broad discretion over the use of proceeds, which may not yield significant returns.