Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 59

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 59
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 proprietary technologies that are patentable; |

| · | the intellectual property rights of others may harm our business; and |

| · | we may choose not to file a patent in order to maintain certain trade secrets or know-how, and a third 
 party may subsequently file a patent directed to such intellectual property.                           |

Should any of these events occur, they could harm
our business, financial condition, results of operations and prospects.

Intellectual property litigation may lead to unfavorable publicity that harms our reputation and causes the market price of shares of our Common Stock to decline.

During the course of
any intellectual property litigation, there could be public announcements of the initiation of the litigation as well as results of hearings,
rulings on motions, and other interim proceedings in the litigation. If securities analysts or investors regard these announcements as
negative, the perceived value of our existing products, programs or intellectual property could be diminished. Accordingly, the market
price of shares of our Common Stock may decline. Such announcements could also harm our reputation or the market for our future products,
which could have a material adverse effect on our business.

Risks Relating to this Offering and Our Common
Stock

You may experience immediate and substantial
dilution in the net tangible book value per share of our Common Stock you purchase in this offering.

The public offering price per Unit in this offering may exceed the as adjusted net tangible book value per share of our Common Stock outstanding prior to this offering. After giving effect to the sale by us of the Units at a public offering price of $2.00 per Unit and the Pre-Funded Units at a public offering price of $1.9999 per Pre-funded Unit, and after underwriter fees and estimated offering expenses payable by us and assuming full exercise of the Pre-Funded Warrants, you will experience immediate dilution of $(2.07) per share, representing the difference between our as adjusted net tangible book value per share as of March 31, 2025 after giving effect to this offering and the public offering price. The exercise of outstanding warrants and stock options may also result in further dilution of your investment. See the section entitled “Dilution” on page 40 for a more detailed illustration of the dilution you may incur if you participate in this offering.

Our management will have broad discretion
over the use of the net proceeds from this offering, may invest or spend the proceeds raised in this offering in ways with which you may
not agree and the proceeds may not yield a significant return.

Our