Company: BIVIW
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001520138-25-000149
Chunk: 32

Company: BIOVIE INC.
Filing Date: 2025-05-15
Form: DRS
Chunk 32
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 an actual basis; and |

| · | on an as adjusted basis to reflect the issuance by us in this offering of                 
 Units at an assumed public offering price of $          per Unit (the last reported sale  
 price of our Common Stock on Nasdaq on         , 2025) after deducting estimated offering 
 expenses.                                                                                 |

You should read this table together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as well as our financial statements and related notes
and the other financial information appearing in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 and our Quarterly
Reports on Form 10-Q for the quarters ended September 30, 2024, December 31, 2024 and March 31, 2025, which are incorporated by reference
in this prospectus.

| (in thousands, except share and per share amounts)                                                                                                                      |     | Actual |              |   |     | As adjusted |           |   |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-------|-------------:|:--|:----|:------------|----------:|:--|
| Cash and cash equivalents                                                                                                                                               |     | $      |   23,152,014 |   |     |             |           |   |
| Total liabilities                                                                                                                                                       |     |        |    2,842,270 |   |     |             | 2,842,270 |   |
| 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 March 31, 2025; 18,545,735 shares issued of which 18,517,376 shares are outstanding at March 31, 2025 |     |        |        7,463 |   |     |             |           |   |
| Additional paid-in capital                                                                                                                                              |     |        |  370,465,616 |   |     |             |           |   |
| Accumulated deficit                                                                                                                                                     |     |        | (348,655,105 | ) |     |             |           |   |
| Treasury stock                                                                                                                                                          |     |        |          (29 | ) |     |             |       (29 | ) |
| Total stockholders