BioVie (NASDAQ: BIVI) is a clinical-stage company developing innovative drug therapies to treat chronic debilitating conditions including liver disease and neurological and neuro-degenerative disorders. The company today announced the pricing of its best efforts public offering of 21,000,000 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 10,500,000 shares of common stock at a combined offering price of $1.00 per share (or pre-funded warrant) and associated warrant. The warrants will have an exercise price of $1.50 per share and will be immediately exercisable for a period of five years following the date of issuance. The gross proceeds to BioVie are expected to be approximately $21 million, of which it intends to use the net proceeds primarily for working capital and general corporate purposes. All of the shares of common stock (or pre-funded warrants) and associated warrants are being offered by the company. ThinkEquity is acting as sole placement agent for the offering, which is expected to close on March 6, 2024, subject to customary conditions.
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About BioVie Inc.
BioVie is a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease. In neurodegenerative disease, the company’s drug candidate NE3107 inhibits inflammatory activation of ERK and NFkB (e.g., TNF signaling) that leads to neuroinflammation and insulin resistance, but not their homeostatic functions (e.g., insulin signaling and neuron growth and survival). Both are drivers of Alzheimer’s and Parkinson’s diseases. In liver disease, the company’s Orphan drug candidate BIV201 (continuous infusion terlipressin), with U.S. Food and Drug Administration (“FDA”) Fast Track status, is being evaluated and discussed with guidance received from the FDA regarding the design of Phase 3 clinical testing of BIV201 for the treatment of ascites due to chronic liver cirrhosis. The active agent is approved in the U.S. and in about 40 countries for related complications of advanced liver cirrhosis. For more information, visit the company’s website at www.BioViePharma.com.
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