Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. BioVie Inc.
  6. News
  7. Summary
    BIVI   US09074F2074

BIOVIE INC.

(BIVI)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

BioVie Inc. Announces Closing of Public Offering of Common Stock

08/11/2021 | 01:15pm EDT

SANTA MONICA, Calif., Aug. 11, 2021 (GLOBE NEWSWIRE) -- BioVie Inc., (NASDAQ: BIVI) (“BioVie” or the “Company”) a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders, liver disease and certain cancers, today announced the closing of its underwritten public offering of 2,500,000 shares of its Class A common stock at a public offering price of $8.00 per share, for gross proceeds of $20,000,000, before deducting underwriting discounts, commissions and offering expenses. In addition, the Company has granted the underwriters a 45 day option to purchase up to an additional 375,000 shares of common stock to cover over-allotments at the offering price, less the underwriting discount.

ThinkEquity, a division of Fordham Financial Management, Inc., acted as the sole book-running manager for the offering. EF Hutton, division of Benchmark Investments, LLC, acted as a financial advisor for the offering.

The Company intends to use the net proceeds from the offering primarily for general corporate purposes.

The securities were offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-252386), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 22, 2021 and declared effective on February 2, 2021. The offering was made only by means of a written prospectus and prospectus supplement that forms a part of the registration statement. A final prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC on its website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673 or by email at prospectus@think-equity.com.

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.

About BioVie

BioVie Inc. (NASDAQ: BIVI) is a clinical-stage company developing transformative therapies to overcome unmet medical needs in chronic debilitating conditions. In liver disease, the Company’s orphan drug candidate BIV201 (continuous infusion terlipressin), with FDA Fast Track status, is being evaluated in a US Phase 2 study for the treatment of refractory ascites with top-line results expected in early 2022. The Company is also planning a pivotal Phase 3 study of BIV201 in the treatment of hepatorenal syndrome-acute kidney injury (HRS-AKI) in 2022. BIV201 is administered as a patent-pending liquid formulation. The active agent is approved in about 40 countries for related complications of advanced liver cirrhosis but is not available in the US or Japan. In neuro-degenerative disease, BioVie recently acquired the assets of NeurMedix Inc., including NE3107 that inhibits inflammatory activation of ERK and NFB (e.g. TNF transcription) 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 is conducting a potentially pivotal Phase 3 randomized, double blind, placebo controlled, parallel group, multicenter study to evaluate NE3107 in subjects who have mild to moderate Alzheimer's disease (NCT04669028). An estimated six million Americans suffer from Alzheimer’s. BioVie has initiated this study and is targeting primary completion in late 2022. A Phase 2 study of NE3107 in Parkinson’s disease is planned for later this year, and related compounds have additional potential to treat certain cancers. NE3107 is patented in the United States, Australia, Canada, Europe and South Korea. For more information, visit http://www.biovieinc.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 clinical studies and to obtain approval for our product candidates, 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 Inquiries:
Contact:
Bruce Mackle
Managing Director
LifeSci Advisors, LLC
bmackle@lifesciadvisors.com


Primary Logo


© GlobeNewswire 2021
All news about BIOVIE INC.
10/14BIOVIE : Submission of Matters to a Vote of Security Holders - Form 8-K
PU
10/14BIOVIE INC. : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
10/13BIOVIE : Hosting Key Opinion Leader Webinar on Neuroinflammation and Insulin Resistance an..
AQ
09/22BIOVIE : to Present at Cantor Virtual Global Healthcare Conference
AQ
09/15BioVie to Present at Oppenheimer Fall Healthcare Life Sciences & MedTech Virtual Summit
GL
08/30BIOVIE : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERAT..
AQ
08/30Biovie Inc. Reports Earnings Results for the Full Year Ended June 30, 2021
CI
08/30BioVie Inc. Contemplates Bankruptcy 
CI
08/11BIOVIE : Closes Common Stock Offering
MT
08/11BIOVIE : Announces Pricing of Public Offering of Common Stock (Form 8-K)
PU
More news
Analyst Recommendations on BIOVIE INC.
More recommendations
Financials (USD)
Sales 2022 - - -
Net income 2022 -181 M - -
Net Debt 2022 - - -
P/E ratio 2022 -1,16x
Yield 2022 -
Capitalization 149 M 149 M -
Capi. / Sales 2022 -
Capi. / Sales 2023 -
Nbr of Employees 6
Free-Float 19,9%
Chart BIOVIE INC.
Duration : Period :
BioVie Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 5,98 $
Average target price 50,00 $
Spread / Average Target 736%
EPS Revisions
Managers and Directors
Cuong Viet Do President, Chief Executive Officer & Director
Joanne Wendy Kim Chief Financial Officer & Secretary
Terren S. Peizer Chairman
Patrick Yeramian Chief Medical Officer
James D. Lang Independent Director
Sector and Competitors
1st jan.Capi. (M$)
BIOVIE INC.-65.47%149
GILEAD SCIENCES, INC.14.83%83 880
WUXI APPTEC CO., LTD.25.14%66 875
BIONTECH SE222.44%63 484
REGENERON PHARMACEUTICALS14.28%57 402
VERTEX PHARMACEUTICALS-21.55%48 101