Company: BIVIW
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001520138-25-000205
Chunk: 181

Company: BIOVIE INC.
Filing Date: 2025-07-11
Form: S-1/A
Chunk 181
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   - |     |                           |         - |
| Outstanding at June 30, 2023                                                |     |         | 395,286 |   |     |                                 |  71.00 |     |                                             | 6.3 |     |                           | 1,067,966 |
| Granted                                                                     |     |         | 155,242 |   |     |                                 |  11.70 |     |                                             | 9.8 |     |                           |         - |
| Options Expired                                                             |     |         |    (640 | ) |     |                                 |  46.09 |     |                                             |   - |     |                           |         - |
| Options Canceled                                                            |     |         | (31,812 | ) |     |                                 |  57.19 |     |                                             |   - |     |                           |         - |
| Outstanding at June 30, 2024                                                |     |         | 518,076 |   |     | $                               |  54.11 |     |                                             | 6.1 |     | $                         |         - |
| Exercisable at June 30, 2024                                                |     |         | 296,934 |   |     | $                               |  66.65 |     |                                             | 4.9 |     | $                         |         - |

The fair value of each option grant on the date of
grant is estimated using the Black-Scholes model. The following weighted-average assumptions were utilized for the years ended:

| Schedule of assumptions used        | June 30, 2024 |     | June 30, 2023 |
|:------------------------------------|--------------:|:----|--------------:|
| Expected life of options (in years) |             6 |     |             6 |
| Expected volatility                 |        86.28% |     |        81.65% |
| Risk free interest rate             |         4.40% |     |         3.82% |
| Dividend Yield                      |            0% |     |            0% |

The Company recorded stock based compensation expense
relating to the vesting of stock options of approximately $2.8 million and $4.2 million for the years ended June 30, 2024 and 2023, respectively.

Issuance and modification of restricted stock units and options:

On June 21, 202