Mon, Sep 30, 9:09 PM (82 days ago)
BioVie Inc. reported a net loss of approximately $33.0 million for the fiscal year ending June 30, 2024, a significant decrease from a loss of $50.3 million in the prior year. Total operating expenses were reduced to $32.2 million, primarily due to decreased research and development costs. The company's cash and cash equivalents stood at approximately $23.8 million, with total stockholders' equity at $15.5 million. BioVie is focused on developing therapies for neurological disorders and liver disease, notably bezisterim (NE3107), which is undergoing trials for Alzheimer's and Parkinson's diseases. The FDA has granted Fast Track and Orphan Drug designations for BIV201, targeting ascites due to liver cirrhosis. Key risk factors include reliance on third-party clinical trial contractors, ongoing litigation, and the need for additional capital to sustain operations. The company has raised funds through public offerings and an ATM facility, but substantial doubt exists about its ability to continue as a going concern without further financing. The recent reverse stock split may affect market perceptions and liquidity. Overall, while there are promising developments, significant operational and financial challenges remain ahead.