Wed, Nov 13, 9:56 PM (23 days ago)
BioVie Inc. (BIVI) reported a net loss of approximately $4.2 million for the quarter ending September 30, 2024, a significant reduction from the $10.7 million loss in the same period last year. This improvement was primarily due to a $6.9 million decrease in research and development (R&D) expenses, reflecting the completion of prior clinical trials. Total operating expenses decreased to approximately $4.1 million from $10.9 million year-over-year. As of September 30, 2024, the company maintained cash and cash equivalents of approximately $20 million and working capital of $13.3 million. Despite these figures, BioVie remains in a pre-revenue stage, with no immediate revenue anticipated, raising concerns about its ability to sustain operations without securing additional financing. The company has ongoing clinical trials for its drug candidates, including bezisterim for Alzheimer's and Parkinson's diseases, and BIV201 for liver disease, which are critical for future revenue generation. The company faces uncertainties related to regulatory compliance and market conditions, and recent legal challenges could further impact its financial health. Future operations will heavily depend on successful clinical trial outcomes and effective capital raising strategies.