Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 102

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 102
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’ payroll of approximately $262,000, reflecting the reduction in force
in December 2023, and a decrease in consultancy expense of approximately $678,000, resulting from declining use of consultants as the
clinical studies were completed, a decrease in Chemistry, Manufacturing and Controls (“CMC”) and new drug discovery totaling
approximately $354,000, a reduction in the use of regulatory and other consultants totaling approximately $29,000, and a decrease in related
expenses of approximately $18,000 in travel, conferences and publications.

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The table below summarizes the expenses incurred
for the three months ended March 31, 2025 and 2024 by study:

|                                                      |     | Three Months Ended | March 31, 2025 |   |     | Three Months Ended | March 31, 2024 |     | Increase | (Decrease) |   |
|:-----------------------------------------------------|:----|:-------------------|---------------:|:--|:----|:-------------------|---------------:|:----|:---------|-----------:|:--|
| Current Studies                                      |     |                    |                |   |     |                    |                |     |          |            |   |
| Liver Program Phase 3                                |     | $                  |         95,323 |   |     | $                  |         41,685 |     | $        |     53,638 |   |
| Sunrise PD Phase 2                                   |     |                    |        965,888 |   |     |                    |              - |     |          |    965,888 |   |
| Long Covid Program, net of 2.5 million reimbursement |     |                    |     (1,087,734 | ) |     |                    |              - |     |          | (1,087,734 | ) |
| Investigator-Initiated studies                       |     |                    |         12,025 |   |     |                    |          9,199 |     |          |      2,826 |   |
|                                                      |     | $                  |        (14,498 | ) |     | $                  |         50,884 |     | $        |    (65,382 | ) |
| Completed Studies                                    |     |                    |                |   |     |                    |                |     |          |            |   |
| Ascites BIV201 Phase 2b                              |     |