BioVie Inc., a clinical-stage company focusing on drug therapies for chronic debilitating conditions, reported its financial performance for the quarter ended September 30, 2024. The company experienced a net loss of approximately $4.2 million, a decrease from the net loss of $10.7 million in the same period the previous year. This reduction was primarily due to a decrease in research and development expenses, which dropped by approximately $6.9 million as a result of completed clinical trials in the prior fiscal year. Selling, general, and administrative expenses saw a slight increase of approximately $132,000, mainly due to higher legal fee expenses. Other expenses netted to approximately $30,000, compared to other income of $165,000 in the previous year. The company's cash and cash equivalents stood at approximately $20.0 million...Show More

BioVie Inc., a clinical-stage company focusing on drug therapies for chronic debilitating conditions, reported its financial performance for the quarter ended September 30, 2024. The company experienced a net loss of approximately $4.2 million, a decrease from the net loss of $10.7 million in the same period the previous year. This reduction was primarily due to a decrease in research and development expenses, which dropped by approximately $6.9 million as a result of completed clinical trials in the prior fiscal year. Selling, general, and administrative expenses saw a slight increase of approximately $132,000, mainly due to higher legal fee expenses. Other expenses netted to approximately $30,000, compared to other income of $165,000 in the previous year. The company's cash and cash equivalents stood at approximately $20.0 million, with working capital of approximately $13.3 million and stockholders' equity of approximately $14.1 million. BioVie's future operations hinge on the success of ongoing development and commercialization efforts, as well as its ability to secure additional financing. The company relies on third parties to conduct its clinical trials, which poses risks related to compliance with regulatory standards and potential delays. BioVie also faces risks associated with the financial services industry, as it holds cash deposits exceeding federally insured levels. The company's common stock may experience future dilution due to potential equity offerings or the issuance of shares subject to options, warrants, stock awards, or other arrangements.