Company: BIVIW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001520138-25-000343
Chunk: 62

Company: BIOVIE INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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 expenses of approximately $946,000 is comprised of increased
direct study costs of approximately $1.2 million for the Parkinson Disease (PD) and Long COVID (“LC”) studies and clinical
team stock compensation of approximately $270,000, travel and conferences of approximately $49,000, offset by CMC of approximately $407,000,
clinical team payroll of approximately $87,000 and other clinical consultants of approximately $57,000.

The increase in clinical studies of approximately
$1.2 million represented planning, development and launch of the two new clinical studies, Sunrise PD Phase 2 and Long Covid Program.
The table below summarizes the expense amounts for the three months ended September 30, 2025 and 2024 by study:

    Three months ended  
    Three months ended  

    September 30, 2025  
    September 30, 2024  
    Increase 

    Current Studies 

    Sunrise PD Phase 2 
    $1,356,000  
    $516,000  
    $840,000 
  
    Liver Program Phase 3 
     12,000  
     (2,000) 
     14,000 
  
    Long COVID Program, net of $336,000 and $325,000 reimbursement, respectively 
     449,000  
     145,000  
     304,000 

    $1,817,000  
    $659,000  
    $1,158,000 

23

General and Administrative Expenses

General and administrative expenses were approximately
$2.3 million and $2.1 million for the three months ended September 30, 2025 and 2024, respectively. The net increase of approximately
$216,000 was primarily attributed to increases in legal fee expenses of approximately $215,000, investor and public relation fees of approximately
$124,000, filing fees of approximately $35,000 and insurance premiums of approximately $14,000; offset by decreases in stock-based compensation
for the executive team and directors of approximately $83,000 and $93,000, respectively.

Other Income and Expense

Other income, net was approximately $197,000 compared
to other expenses, net of $30,000, for the three months ended September 30, 2025 and 2024, respectively. The net increase in other income
of approximately $227,000 was comprised of a reduction