Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 212

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 212
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|:--|:----|:----------|------:|:----|:------------|----:|:----|:----------|:--|
| Outstanding at June 30, 2024                                                |     |         | 518,076 |   |     | $         | 54.11 |     |             | 6.1 |     | $         | - |
| Options Granted                                                             |     |         | 490,261 |   |     |           |  2.40 |     |             | 7.1 |     |           | - |
| Options Expired                                                             |     |         | (38,806 | ) |     |           | 62.48 |     |             |   - |     |           | - |
| Options Canceled                                                            |     |         | (82,402 | ) |     |           |  7.87 |     |             |   - |     |           | - |
| Outstanding at March 31, 2025                                               |     |         | 887,129 |   |     | $         | 29.46 |     |             | 6.2 |     | $         | - |
| Exercisable at March 31, 2025                                               |     |         | 448,470 |   |     | $         | 44.50 |     |             | 5.1 |     | $         | - |

The fair value of each option on the date of grant
is estimated using the Black-Scholes option pricing model. The pricing model reflects the following weighted-average assumptions for the
nine months ended March 31, 2025 and 2024:

| Schedule of assumptions used        | March 31, 2025 |     | March 31, 2024 |
|:------------------------------------|---------------:|:----|---------------:|
| Expected life of options (in years) |              4 |     |              5 |
| Expected volatility                 |         93.44% |     |         87.11% |
| Risk free interest rate             |          4.34% |     |          4.80% |
| Dividend Yield                      |             0% |     |             0% |

F-38

On December 20, 2024, the Company issued to employees
and directors stock options to purchase 208,902 and 113,055 shares of Common Stock, respectively