Company: BIVIW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001520138-25-000343
Chunk: 77

Company: BIOVIE INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 77
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 for the three months
ended September 30, 2025 were approximately $5.3 million as compared to $4.1 million for the three months ended September 30, 2024. The
net increase of approximately $1.2 million for the three months ended September 30, 2025, was comprised of net increased research and
development expenses of approximately $946,000 primarily attributed to the development and launch of both the Long COVID program in April
2025 and Sunrise PD Phase 2 studies in May 2025 and the net increase in general and administrative expenses of approximately $216,000.

Research and Development Expenses 

Research and development (“R&D”)
expenses were approximately $2.9 million for the three months ended September 30, 2025, an increase of approximately $946,000 from $2.0
million for three months ended September 30, 2024. The net increase in R&D expenses of approximately $946,000 is comprised of increased
direct study costs of approximately $1.2 million for the Parkinson Disease (PD) and Long COVID (“LC”) studies and clinical
team stock compensation of approximately $270,000, travel and conferences of approximately $49,000, offset by CMC of approximately $407,000,
clinical team payroll of approximately $87,000 and other clinical consultants of approximately $57,000.

The increase in clinical studies of approximately
$1.2 million represented planning, development and launch of the two new clinical studies, Sunrise PD Phase 2 and Long Covid Program.
The table below summarizes the expense amounts for the three months ended September 30, 2025 and 2024 by study:

    Three months ended  
    Three months ended  

    September 30, 2025  
    September 30, 2024  
    Increase 

    Current Studies 

    Sunrise PD Phase 2 
    $1,356,000  
    $516,000  
    $840,000 
  
    Liver Program Phase 3 
     12,000  
     (2,000) 
     14,000 
  
    Long COVID Program, net of $336,000 and $325,000 reimbursement, respectively 
     449,000  
     145,000  
     304,000 

    $1,817,000  
    $659,000  
    $1,158,000