Company: BIVIW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001520138-25-000343
Chunk: 54

Company: BIOVIE INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 and between the Company and the University of Padova (Italy), the Company is obligated to pay a low
single digit royalty on net sales of all terlipressin products covered by US patent no. 9,655,645 and any future foreign issuances, capped
at a maximum of $200,000 per year.

Shareholder class action complaint and shareholder derivative complaints

On January 19, 2024, a purported securities class
action complaint, captioned Eric Olmstead v. BioVie Inc. et al., No. 3:24-cv-00035, was filed in the U.S. District Court for
the District of Nevada, naming the Company and certain of its officers as defendants. On February 22, 2024, a second, related putative
securities class action was filed in the same court asserting similar claims against the same defendants, captioned Way v. BioVie Inc.
et al., No. 2:24-cv-00361. On April 15, 2024, the court consolidated these two actions under the caption In re BioVie Inc. Securities
Litigation, No. 3:24-cv-00035, appointed the lead plaintiff, and approved selection of the lead counsel. On June 21, 2024, the lead
plaintiff filed an amended complaint, alleging that the defendants made material misrepresentations and/or omissions of material fact
relating to the Company’s business, operations, compliance, and prospects, including information related to the NM101 Phase 3 study
and trial of bezisterim (NE3107) in mild to moderate probable AD, 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, and the parties are now engaged in fact discovery.

Three shareholder derivative lawsuits pig