Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 105

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 105
---
          |     (88,986 | ) |
| Other studies in development/canceled                 |     |                   |         18,253 |   |     |                   |      1,275,422 |     |          |  (1,257,169 | ) |
|                                                       |     | $                 |        (27,486 | ) |     | $                 |     11,612,404 |     | $        | (11,639,890 | ) |

Selling, General and Administrative Expenses

Selling, general and administrative expenses for
the nine months ended March 31, 2025, was approximately $6.2 million and was comparable to approximately $6.2 million for the nine months
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