CARSON CITY, Nev., Sept. 23, 2024 (GLOBE NEWSWIRE) — BioVie Inc. (NASDAQ: BIVI), (BioVie or the Firm), a clinical-stage firm growing modern drug therapies to deal with persistent debilitating situations together with liver illness and neurological and neuro-degenerative problems, at the moment introduced the pricing of a greatest efforts public providing of 1,960,800 shares of its widespread inventory (or pre-funded warrants (Pre-funded Warrants) in lieu thereof) and warrants to buy as much as 1,960,800 shares of widespread inventory at a mixed providing value of $1.53 per share (or Pre-funded Warrant) and related warrant. The warrants could have an train value of $1.53 per share and shall be instantly exercisable upon issuance for a interval of 5 years following the date of issuance. The gross proceeds to the Firm from the providing are anticipated to be roughly $3,000,000, earlier than deducting placement agent charges and providing bills. The Firm intends to make use of the web proceeds from the providing primarily for working capital and basic company functions. The entire shares of widespread inventory (or Pre-funded Warrants) and related warrants are being supplied by the Firm. The providing is anticipated to shut on September 25, 2024, topic to satisfaction of customary closing situations.
ThinkEquity is performing as sole placement agent for the providing.
The securities had been supplied and shall be offered pursuant to a shelf registration assertion on Kind S-3 (File No. 333-274083), together with a base prospectus, filed with the U.S. Securities and Trade Fee (the SEC) on August 18, 2023 and declared efficient on August 28, 2023. The providing shall be made solely by way of a written prospectus. A remaining prospectus complement and accompanying prospectus describing the phrases of the providing shall be filed with the SEC and shall be obtainable on its web site at www.sec.gov. Copies of the ultimate prospectus complement and the accompanying prospectus regarding the providing may be obtained, when obtainable, from the places of work of ThinkEquity, 17 State Avenue (NYSE:), forty first Flooring, New York, New York 10004.
This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any state or jurisdiction by which such a suggestion, solicitation or sale can be illegal previous to registration or qualification beneath the securities legal guidelines of any such state or jurisdiction.
About BioVie Inc.
BioVie Inc. (NASDAQ: BIVI) is a clinical-stage firm growing modern drug therapies for the remedy of neurological and neurodegenerative problems and superior liver illness. In neurodegenerative illness, the Firm’s drug candidate NE3107 inhibits inflammatory activation of ERK and NFkB (e.g., TNF signaling) that results in neuroinflammation and insulin resistance, however not their homeostatic features (e.g., insulin signaling and neuron development and survival). Each are drivers of Alzheimer’s and Parkinson’s illnesses. The Firm carried out and reported efficacy information on its randomized, double-blind, placebo-controlled, parallel-group, multicenter research to guage NE3107 in sufferers who’ve delicate to average Alzheimer’s illness (NCT04669028). Outcomes of a Section 2 investigator-initiated trial (NCT05227820) exhibiting NE3107-treated sufferers skilled improved cognition and biomarker ranges had been offered on the Scientific Trial in Alzheimer’s Illness annual convention in December 2022. An estimated six million People undergo from Alzheimer’s. A Section 2 research of NE3107 in Parkinson’s illness (NCT05083260) has accomplished, and information offered on the Worldwide Convention on Alzheimer’s and Parkinson’s Illness and Associated Neurological Issues convention in Gothenburg, Sweden in March 2023 confirmed important enhancements in morning on signs and clinically significant enchancment in motor management in sufferers handled with a mix of NE3107 and levodopa vs. sufferers handled with levodopa alone, and no drug-related adversarial occasions. In liver illness, the Firm’s Orphan drug candidate BIV201 (steady infusion terlipressin), with U.S Meals and Drug Administration (FDA) Quick Monitor standing, is being evaluated and mentioned with steering acquired from the FDA concerning the design of Section 3 scientific testing of BIV201 for the remedy of ascites attributable to persistent liver cirrhosis. The energetic agent is accepted within the U.S. and in about 40 international locations for associated issues of superior liver cirrhosis. For extra data, go to http://www.bioviepharma.com/.
Ahead-Trying Statements
This press launch incorporates forward-looking statements, which can be recognized by phrases resembling “anticipate,” “stay up for,” “anticipate” “intend,” “plan,” “imagine,” “search,” “estimate,” “will,” “undertaking” or phrases of comparable that means. Though BioVie Inc. believes such forward-looking statements are based mostly on cheap assumptions, it can provide no assurance that its expectations shall be attained. Precise outcomes could fluctuate materially from these expressed or implied by the statements herein as a result of Firm’s skill to efficiently increase enough capital on cheap phrases or in any respect, obtainable money available and contractual and statutory limitations that would impair our skill to pay future dividends, our skill to finish our pre-clinical or scientific research and to acquire approval for our product candidates, our skill to efficiently defend potential future litigation, modifications in native or nationwide financial situations in addition to numerous further dangers, lots of which at the moment are unknown and usually out of the Firm’s management, and that are detailed every so often in experiences filed by the Firm with the SEC, together with quarterly experiences on Kind 10-Q, experiences on Kind 8-Okay and annual experiences on Kind 10-Okay. BioVie Inc. doesn’t undertake any obligation to replace any statements contained herein (together with any forward-looking statements), besides as required by legislation.
For Investor Relations Inquiries:
Bruce Mackle
Managing Director, LifeSci Advisors, LLC
bmackle@lifesciadvisors.com
For Media Relations Inquiries:
Melyssa Weible
Managing Companion, Elixir Well being Public Relations
mweible@elixirhealthpr.com
Supply: BioVie, Inc.
