BioVie Inc. Files 10-Q for Period Ending Dec 31, 2024

TL;DR

BioVie 10-Q filed. Financials for Dec 31, 2024 quarter are in. Check balance sheet.

AI Summary

BioVie Inc. filed its 10-Q for the period ending December 31, 2024. The company reported financial results for the second quarter and the first six months of fiscal year 2025. Key financial data and balance sheet information as of December 31, 2024, and June 30, 2024, were included in the filing.

Why It Matters

This filing provides investors with an update on BioVie's financial performance and position, crucial for understanding the company's operational health and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, BioVie faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 20241231 — Period End Date (The 10-Q covers financial information up to this date.)
• 20250211 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• BIOVIE INC. (company) — Filer of the 10-Q
• 20241231 (date) — Period of report
• 20250211 (date) — Filing date
• NANOANTIBIOTICS, INC. (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — hich registered Class A Common Stock, $0.0001 par value per share BIVI The NASDAQ S
• $118,891 — suance of common stock, net of costs of $118,891 43,220 4 1,905,832 - - - - 1,90
• $258,254 — suance of common stock, net of costs of $258,254 290,090 290 7,421,588 - - - - 7
• $747,408 — suance of common stock, net of costs of $747,408 1,627,943 163 2,258,900 - - - -
• $2,492,880 — suance of common stock, net of costs of $2,492,880 8,256,000 826 13,414,724 - - - -
• $13.1 million — rant of a clinical trial award of up to $13.1 million from the U.S. Department of Defense ("D
• $325,000 — he Company was reimbursed approximately $325,000 for trial costs during the six months e
• $2.6 million — itional reimbursements of approximately $2.6 million were received for trial costs incurred

Filing Documents

• bivi-20241231_10q.htm (10-Q) — 848KB
• bivi-20241230_10qex31z1.htm (EX-31.1) — 12KB
• bivi-20241230_10qex31z2.htm (EX-31.2) — 12KB
• bivi-20241230_10qex32z1.htm (EX-32.1) — 5KB
• bivi-20241230_10qex32z2.htm (EX-32.2) — 5KB
• 0001520138-25-000056.txt ( ) — 4896KB
• bivi-20241231.xsd (EX-101.SCH) — 43KB
• bivi-20241231_cal.xml (EX-101.CAL) — 47KB
• bivi-20241231_def.xml (EX-101.DEF) — 155KB
• bivi-20241231_lab.xml (EX-101.LAB) — 358KB
• bivi-20241231_pre.xml (EX-101.PRE) — 294KB
• bivi-20241231_10q_htm.xml (XML) — 677KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1. Unaudited Financial Statements Condensed Balance Sheets at December 31, 2024 and June 30, 2024 4 Condensed Statements of Operations and Comprehensive Loss - for the three and six months ended December 31, 2024 and 2023 5 Condensed Statements of Changes in Stockholders' Equity - for the periods from July 1, 2024 through December 31, 2024 and July 1, 2023 though December 31, 2023 6 Condensed Statements of Cash Flows - for the six months ended December 31, 2024 and 2023 7 Notes to Unaudited Condensed Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

SIGNATURES

SIGNATURES 34 2 Table of Contents BIOVIE INC.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"). Any statements contained in this report that are not statements of historical fact may be forward-looking statements. When we use the words "intends," "estimates," "predicts," "potential," "continues," "anticipates," "plans," "expects," "believes," "should," "could," "may," "will" or the negative of these terms or other comparable terminology, we are identifying forward-looking to be materially different from those expressed or implied by forward-looking statements. These factors include our research and development activities, distributor channel; compliance with regulatory impositions; and our capital needs. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as may be required by applicable law, we do not undertake or intend to update or revise our forward-looking statements, and we assume no obligation to update any forward-looking our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. You should carefully review and consider the various disclosures we make in this report and our other reports filed with the Securities and Exchange Commission (the "Commission") that attempt to advise interested parties of the risks, uncertainties and other factors that may affect our business. All statements other than statements of historical fact are statements that could be

forward-looking statements, except as required by law. When used in this report, the terms "BioVie", "Company",

forward-looking statements, except as required by law. When used in this report, the terms "BioVie", "Company", "we", "our", and "us" refer to BioVie Inc. 3 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements BioVie Inc. Condensed Balance Sheets (Unaudited) December 31, June 30, 2024 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 24,405,517 $ 23,843,798 Prepaid and other current assets 275,835 204,392 Total current assets 24,681,352 24,048,190 Operating lease right-of-use asset, net 374,303 406,726 Intangible assets, net 293,030 407,718 Goodwill 345,711 345,711 TOTAL ASSETS $ 25,694,396 $ 25,208,345 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 1,382,501 $ 3,586,912 Current portion of operating lease liability 67,111 60,343 Current portion of notes payable, net of financing cost, unearned premium and discount of $ 701,210 at June 30, 2024 - 5,701,210 Warrant liability 7,290 3,771 Total current liabilities 1,456,902 9,352,236 Operating lease liability, net of current portion 314,915 349,894 TOTAL LIABILITIES 1,771,817 9,702,130 Commitments and contingencies (Note 10) STOCKHOLDERS' EQUITY : Preferred stock; $ 0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding - - Common stock, $ 0.0001 par value; 800,000,000 shares authorized at December 31, 2024 and June 30, 2024; 18,478,307 shares issued of which 18,451,981 shares are outstanding at December 31, 2024; and 6,216,398 shares issued of which 6,190,072 shares outstanding at June 30, 2024 7,456 6,229 Additional paid in capital 369,781,837 349,732,674 Accumulated deficit ( 345,866,687 ) ( 334,232,661 ) Treasury stock ( 27 ) ( 27 ) Total stockholders' equity 23,922,579 15,506,215 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 25,694,396 $ 25,208,345 See accompanying notes to unaudited condensed financial 4 Table of Contents BioVie Inc. Condensed Statements of Operations and Comprehensive Loss (Unaudited) Three Months Ended Three Months Ended Six Months Ended Six Months Ended Decem

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