Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 102

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 102
---
.3 million for the year ended June 30, 2024, and 2023, respectively. The net decrease of approximately $10.2 million
for the year ended June 30, 2024, was primarily attributed to a reduction in expenses totaling approximately $13.8 million due to the
completion of clinical studies, offset by increased expenses of approximately $3.6 million primarily comprised of the planning and development
of new studies of approximately $836,000 which included the development of Sunrise 1 PD PH2b and Radiance 1 AD MCI Ph2b/3 studies which
have been put on hold in the first quarter of the fiscal year ended June 30,2024 pending financing and were designed to be large potentially
registrational studies. an increase in Chemistry, Manufacturing and Controls (“CMC”) expense of approximately $1.0 million
for drug production and development, an increase in clinical team compensation from the clinical team expansion and the use of consultants
totaling approximately $732,000 and $474,000, respectively, and other increases in regulatory and other consultants of approximately $362,000
and publications and travel of approximately $187,000. The decreased expenses from completed clinical studies of approximately $13.8 million
were comprised of approximately $2.7 million from Ascites BIV201 Phase 2b study, approximately $2.1 million from the PD Phase 2 study,
both studies were completed in the prior fiscal year ended June 30, 2023, approximately $238,000 from the Investigator-Initiated Trial
in MCI and Mild Alzheimer’s Disease, and approximately $8.8 million from the AD pivotal Phase 3 clinical study that completed on
December 31, 2023.

The following summarizes the expenses incurred
during the fiscal years ending June 30, 2024 and 2023 for new developmental studies and the completed studies:

| New Development                        |     | 2024 |           |     | 2023 |            |     | Increase   
 (Decrease) |             |   |
|:---------------------------------------|:----|:-----|----------:|:----|:-----|-----------:|:----|:-----------|------------:|:--|
| Sunrise PD Phase 2                     |     | $    |   181,000 |     | $    |          - |     | $          |     181,000 |   |
| Long Covid Program                     |     |