Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 30

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 30
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 for third party marketing partners to market our products for us, which could have a materially adverse effect
on our business.

The amount of capital we may need will depend
on many factors, including the progress, timing and scope of our research and development programs, the progress, timing and scope of
our preclinical studies and clinical trials, the time and cost necessary to obtain regulatory approvals, the time and cost necessary to
establish our own marketing capabilities or to seek marketing partners, the time and cost necessary to respond to technological and market
developments, changes made or new developments in our existing collaborative, licensing and other commercial relationships, and new collaborative,
licensing and other commercial relationships that we may establish.

Until we can generate a sufficient amount of product
revenue, if ever, we expect to finance future cash needs through public or private equity offerings, debt financings, or corporate collaboration
and licensing arrangements. Additional funds may not be available when we need them on terms that are acceptable to us, or at all. If
adequate funds are not available, we may be required to delay, reduce the scope of, or eliminate one or more of our research or development
programs or our commercialization efforts. In addition, we could be forced to discontinue product development and reduce or forego attractive
business opportunities. To the extent that we raise additional funds by issuing equity securities, our stockholders may experience additional
significant dilution, and debt financing, if available, may involve restrictive covenants. To the extent that we raise additional funds
through collaboration and licensing arrangements, it may be necessary to relinquish some rights to our technologies or our product candidates
or grant licenses on terms that may not be favorable to us. We may seek to access the public or private capital markets whenever conditions
are favorable, even if we do not have an immediate need for additional capital at that time.

Our fixed expenses, such as rent and other contractual
commitments, will likely increase in the future, as we may enter into leases for new facilities and capital equipment and/or enter into
additional licenses and collaborative agreements. Therefore, if we fail to raise substantial additional capital to fund these expenses,
we could be forced to cease operations, which could cause you to lose all of your investment.

We have limited experience in drug development and may not be able to successfully develop any drugs, which would cause us to cease operations.

We have never successfully developed a new drug
and brought it to market. Our management and clinical teams have experience in drug development