Full Press Release Details
BioVie Inc. Announces Proposed Public Offering
Carson City, Nevada - September 23, 2024
- BioVie Inc. (NASDAQ: BIVI) ("BioVie" or the "Company"), a clinical-stage company developing innovative
drug therapies for the treatment of advanced liver disease and neurological and neurodegenerative disorders, today announced that it intends
to offer to sell shares of its common stock (and/or pre-funded warrants ("Pre-Funded Warrants") in lieu thereof) and accompanying
common stock purchase warrants in a best efforts public offering. All of the shares of common stock (and/or Pre-funded Warrants) and accompanying
common stock purchase warrants are to be sold by the Company.
ThinkEquity is acting as sole placement agent
The offering is subject to market conditions,
and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The Company intends to use the net proceeds from
the offering primarily for working capital and general corporate purposes.
The securities will be offered and sold pursuant
to a shelf registration statement on Form S-3 (File No. 333-274083), including a base prospectus, filed with the U.S. Securities and Exchange
Commission (the "SEC") on August 18, 2023 and declared effective on August 28, 2023. The offering will be made only by means
of a written prospectus. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been
or will be filed with the SEC on its website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus
relating to the offering may also be obtained from the offices of ThinkEquity, 17 State Street, 41st
Floor, New York, New York 10004. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus
supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference
in such preliminary prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
BioVie Inc. (NASDAQ:
BIVI) 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. The Company conducted
and reported efficacy data from its randomized, double-blind, placebo-controlled, parallel-group, multicenter study to evaluate NE3107
in patients who have mild to moderate Alzheimer's disease (NCT04669028). Results of a Phase 2 investigator-initiated trial (NCT05227820)
showing NE3107-treated patients experienced improved cognition and biomarker levels were presented at the Clinical Trial in Alzheimer's
Disease annual conference in December 2022. An estimated six million Americans suffer from Alzheimer's. A Phase 2 study of NE3107
in Parkinson's disease (NCT05083260) has completed, and data presented at the International Conference on Alzheimer's and Parkinson's
Disease and Related Neurological Disorders conference in Gothenburg, Sweden in March 2023 showed significant improvements in "morning
on" symptoms and clinically meaningful improvement in motor control in patients treated with a combination of NE3107 and levodopa
vs. patients treated with levodopa alone, and no drug-related adverse events. 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 http://www.bioviepharma.com/.
Forward-Looking Statements
This press release contains
forward-looking statements, which may be identified by words such as "expect," "look forward to," "anticipate"
"intend," "plan," "believe," "seek," "estimate," "will," "project"
or words of similar meaning. Although BioVie Inc. believes such forward-looking statements are based on reasonable assumptions, it can
give no assurance that its expectations will be attained. Actual results may vary materially from those expressed or implied by the statements
herein due to the Company's ability to successfully raise sufficient capital on reasonable terms or at all, available cash on hand and
contractual and statutory limitations that could impair our ability to pay future dividends, our ability to complete our pre-clinical
or clinical studies and to obtain approval for our product candidates, our ability to successfully defend potential future litigation,
changes in local or national economic conditions as well as various additional risks, many of which are now unknown and generally out
of the Company's control, and which are detailed from time to time in reports filed by the Company with the SEC, including quarterly reports
on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. BioVie Inc. does not undertake any duty to update any statements contained
herein (including any forward-looking statements), except as required by law.
For Investor Relations
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