Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 104

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 104
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 of approximately $248,000 and legal fees
of approximately $306,000.

Other Income and Expense

Other income, net was approximately $59,000 compared
to other expense, net of $5.2 million, for the year ended June 30, 2024 and 2023, respectively. The net increase in other income of approximately
$5.2 million was primarily driven by the change in fair value of the derivative liabilities of approximately $3.3 million, reduction in
interest expense of approximately $1.4 million due to amortization and accretion of the financing costs, unearned discount, and premium
relating to the note payable, and an increase in interest income of approximately $574,000 from the investment in U.S. Treasury Bills.

Capital Resources and Liquidity

As of March 31, 2025, the Company had working
capital of approximately $21.2 million, cash and cash equivalents totaling approximately $23.2 million, stockholders’ equity of
approximately $21.8 million, and an accumulated deficit of approximately $348.7 million.

The Company used net cash in operations totaling
approximately $13.4 million and net cash provided by financing activities was approximately $12.7 million comprised of net proceeds from
the capital raise activities of $15.7 million and proceeds from exercise of warrants of $2.9 million offset by the payment of $5.0 million
of the Company’s notes payable and payment of the $850,000 loan premium.

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As of June 30, 2024, the Company had working capital
of approximately $14.7 million, cash and cash equivalents of approximately $23.8 million, stockholders’ equity of approximately
$15.5 million, and an accumulated deficit of approximately $334.2 million. Additionally, the Company had a net loss of approximately $32.1
million and net cash used in operating activities of approximately $27.9 million during the year ended June 30, 2024.

The Company has not generated any revenue, and
no revenues are expected in the foreseeable future. The Company’s future operations are dependent on the success of the Company’s
ongoing development and commercialization efforts, as well as its ability to secure additional financing. Management expects that future
sources of funding may include sales of equity, obtaining loans, or other strategic transactions.

Although management continues to pursue the Company’s
strategic plans, there