Company: BIVIW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001520138-25-000056
Chunk: 6

Company: BIOVIE INC.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 increase of approximately
$200,000 was primarily attributed an increase in other consultancy fees of approximately $593,000, increased audit and accounting fees
of approximately $42,000, and increases in expenses for shareholders’ meeting and regulatory filing fees of approximately $25,000.
This was offset by declines in the executive team’s compensation totaling approximately $78,000 reflecting the reduction in force
in December 2023, director compensation expense of approximately $141,000, investor relations of approximately $90,000, legal fees of
approximately $24,000 and conference & meetings and website development totaling approximately $22,000 and $29,000, respectively.

Other Income and Expense

Other income, net was approximately $180,000 compared
to other income, net of $380,000, for the three months ended December 31, 2024 and 2023, respectively. The net decrease in other income,
net of approximately $200,000 is comprised of a change in fair value of the derivative liabilities of approximately $989,000, which was
offset by a reduction in interest expense of approximately $754,000 due to the notes payable being paid off on December 1, 2024, and an
increase in interest income of approximately $35,000.

Comparison of the six months ended December 31, 2024 to the six months
ended December 21, 2023

Net loss

The net loss for the six months ended December 31,
2024 was approximately $11.3 million as compared to the net loss of $19.1 million for the six months ended December 31, 2023. The net
decrease of $7.8 million was comprised of decreases in research and development expenses of $8.7 million, offset by increased selling,
general and administrative expenses of approximately $409,000 and a decrease in other income, net of approximately $395,000.

Total operating expenses for the six months ended
December 31, 2024 were approximately $11.4 million as compared to $19.7 million for the six months ended December 31, 2023. The net
decrease of approximately $8.3 million was comprised of decreased research and development expenses of approximately $8.7 million primarily
due to the completion of clinical trials in the prior fiscal year, offset by increased selling, general and administrative expenses of
approximately $409,000.

Research and Development Expenses

Research and development expenses were approximately
$6