Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 21

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 21
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to the NM101 Phase 3 study and trial of bezisterim (NE3107) in mild to moderate probable Alzheimer’s Disease, in violation of Sections
10(b) and 20(a) of the Exchange Act, and Rule 10b-5 promulgated thereunder. The class action is on behalf of purchasers of the Company’s
securities during the period from December 7, 2022 through November 28, 2023 and seeks unspecified monetary damages on behalf of the putative
class and an award of costs and expenses, including attorney’s fees. The defendants filed a motion to dismiss the amended complaint
on August 21, 2024, and that motion was fully briefed as of December 5, 2024. On March 27, 2025, the court denied the defendants’
motion to dismiss, allowing the case to move into fact discovery The defendants believe that the claims are without merit and intend to
defend vigorously against them, but there can be no assurances as to the outcome.

It is possible that additional lawsuits will be
filed, or allegations received from stockholders, with respect to these same or other matters and also naming us and/or our officers and
directors as defendants. Such lawsuits and any other related lawsuits are subject to inherent uncertainties, and the actual defense and
disposition costs will depend upon many unknown factors. The outcome of such lawsuits is necessarily uncertain. We could be forced to
expend significant resources in the defense of the pending lawsuit and any additional lawsuits, and we may not prevail. In addition, we
may incur substantial legal fees and costs in connection with such lawsuits. We currently are not able to estimate the possible cost to
us from this matter, as the pending lawsuit is currently at an early stage, and we cannot be certain how long it may take to resolve the
pending lawsuit or the possible amount of any damages that we may be required to pay. Monitoring, initiating and defending against legal
actions is time-consuming for our management, is likely to be expensive and may detract from our ability to fully focus our internal resources
on our business activities. We could be forced to expend significant resources in the settlement or defense of the pending lawsuit and
any potential future lawsuits, and we may not prevail in such lawsuits.

Although we have insurance coverage that we believe
applies to these actions, the coverage is subject to a $2 million deductible. That means that we are responsible for the first $2 million
of