Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 101

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 101
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ended March 31, 2024. The net fluctuations in expenses were primarily comprised of decreases in directors’ compensation of approximately
$339,000, executive teams’ compensation of approximately $416,000, investor and public relation fees of $131,000 offset by increases
in other professional and consultancy fees of $566,000, legal fees of approximately $255,000, audit and accounting fees of approximately
$72,000, and insurance premiums of approximately $31,000.

Other Income and Expense

Other income, net was approximately $350,000 for
the nine months ended March 31, 2025, compared to approximately $210,000 for the nine months ended March 31, 2024. The net increase in
other income of approximately $140,000 was comprised of a decrease in the change in fair value of the related derivative liabilities of
approximately $1.8 million, and an increase in interest income of approximately $190,000, offset by a reduction in interest expense of
approximately $2.1 million due to the pay-off of the notes on December 1, 2024.

Comparison of the Year Ended June 30, 2024 to the Year Ended June 30, 2023

Net loss

The net loss was approximately $33.0 million and
$50.3 million for the years ended June 30, 2024 and 2023, respectively. The decrease in net loss of approximately $17.3 million was comprised
of a net decrease in research and development expenses of approximately $10.2 million and selling, general and administrative expenses
of approximately $2.7 million, and further reduced by an increase in interest income of approximately $574,000, a reduction in interest
expense of approximately $1.4 million and the reduction in the fair value of derivative liabilities of approximately $3.3 million.

Total operating expenses were approximately $32.2
million and $45.1 million for the year ended June 30, 2024, and 2023, respectively. The net decrease of approximately $12.9 million for
the year ended June 30, 2024, was comprised of a decrease in research and development expenses of approximately $10.2 million and a decrease
in selling, general and administrative expenses of approximately $2.7 million.

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Research and Development Expenses

Research and development expenses were approximately
$23.1 million and $33