Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 61

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 61
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| · | others may independently develop similar or alternative technologies or duplicate any of our technologies 
 without infringing our owned or licensed intellectual property rights;                                    |

| · | it is possible that our pending owned or licensed patent applications or those that we may own or license 
 in the future will not lead to issued patents;                                                            |

| · | issued patents that we hold rights to may be held invalid or unenforceable, including as a result of legal 
 challenges by our competitors;                                                                             |

| · | our competitors might conduct research and development activities in countries where we do not have patent                                 
 rights and then use the information learned from such activities to develop competitive products for sale in our major commercial markets; |

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| · | we may not develop additional 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 an assumed public offering price of $10.30 per Unit, and after underwriter fees and estimated offering
expenses payable by us and assuming full exercise of the Pre-Funded Warrants, you