Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 103

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 103
---
      |   106,000 |     |      |          - |     |            |     106,000 |   |
| Sunrise 1 PD PH2b (On hold)            |     |      |   822,000 |     |      |    600,000 |     |            |     222,000 |   |
| Radiance 1 AD MCI-301 Ph2b/3 (On hold) |     |      |   778,000 |     |      |    451,000 |     |            |     327,000 |   |
|                                        |     | $    | 1,887,000 |     | $    |  1,051,000 |     | $          |     836,000 |   |
| Completed Studies                      |     |      |           |     |      |            |     |            |             |   |
| Ascites BIV201 Phase 2b                |     | $    |   672,000 |     | $    |  3,377,000 |     | $          |  (2,705,000 | ) |
| AD mild to moderate pivotal Phase 3    |     |      | 7,888,000 |     |      | 16,630,000 |     |            |  (8,742,000 | ) |
| PD Phase 2                             |     |      |   612,000 |     |      |  2,747,000 |     |            |  (2,135,000 | ) |
| Investigator-Initiated studies         |     |      |    73,000 |     |      |    311,000 |     |            |    (238,000 | ) |
|                                        |     | $    | 9,245,000 |     | $    | 23,065,000 |     | $          | (13,820,000 | ) |

Selling, General and Administrative Expenses

Selling, general and administrative expenses were
approximately $8.8 million and $11.6 million for the year ended June 30, 2024 and 2023, respectively. The net decrease of approximately
$2.7 million was primarily attributed to decreased stock and cash compensation of approximately $2.8 million of the executives and directors,
and a decline in investor relations fees of approximately $396,000, offset by insurance expense