SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: S-1
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/forms-1.htm

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(assuming an initial public offering price of at least $10.00 and an assumed conversion price of $10.00), and excludes, as of the date of this prospectus: ● shares of common stock issuable upon the exercise of the Representative’s Warrant; ● 950,500 shares of our common stock reserved for issuance under stock option agreements issued pursuant to the BioVentrix 2024 Equity Incentive Plan (the “2024 Plan”); and shares of our common stock (which is equal to % of our issued and outstanding common stock immediately after the consummation of this offering) reserved for future issuance under the BioVentrix, Inc. 2026 Equity Incentive Plan (the “2026 Plan”), which will become effective as of the closing of this offering. Unless otherwise indicated, this prospectus reflects and assumes (i) no exercise by the underwriters of their over-allotment option and (ii) no exercise of the outstanding stock options described above. SUMMARY OF CONSOLIDATED FINANCIAL INFORMATION

The following tables
set forth summary financial and other data for the periods ended and at the dates indicated below. Our summary financial information
for the years ended December 31, 2025 and 2024 and as of December 31, 2025 and 2024 has been derived from
our audited financial statements included in this prospectus. The financial data set forth below should be read in conjunction with “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” and the financial statements and notes thereto included
elsewhere in this prospectus.

For
the Year Ended December
31, 2025 For
the Year Ended December

Statement of Operations Data:

Gross (loss) profit $	- $	-

Operating expense 6,270,430 3,562,516

Operating loss (6,270,430	) (3,562,516	)

Other expenses (income) 1,397,241 288,158

Net loss before taxes (7,667,671	) (3,850,674	)

Income tax expense (benefit) - -

Net loss (7,667,671	) (3,850,674	)

Net loss per share of common stock:

Basic $	(1.35	) $	(0.72	)

Weighted-average shares of common stock outstanding:

Basic 5,696,603 5,355,663

Balance
Sheet

As of December 31, 2025 As of December 31, 2024

Balance Sheet Data:

Cash $	1,838,121 $	2,637,635

Working capital (deficit) $	(11,592,497	) $	(4,989,308	)

Total assets $	2,568,861 $	3,279,249

Total liabilities $	15,134,042 $	8,318,384

Additional paid-in capital $	218,675,435 $	218,533,820

Accumulated deficit $	(231,241,344	) $	(223,573,673	)

Total stockholders’ deficiency $	(11,965,181	) $	(5,039,135	)

RISK
FACTORS

investment in our common stock is speculative and involves a high degree of risk. You should carefully consider the risks
described below, which we believe represent certain of the material risks to our business, together with the information contained elsewhere
in this prospectus, before you make a decision to invest in our shares of common stock. Please note that the risks highlighted here are
not the only ones that we may face. For example, additional risks presently unknown to us or that we currently consider immaterial or
unlikely to occur could also impair our operations. If any of the following events occur or any additional risks presently unknown to
us actually occur, our business, financial condition and operating results may be materially adversely affected. In that event, the trading
price of our securities could decline and you could lose all or part of your investment.

Risks
Related to Our Industry and Business

have a history of net losses, and we expect to continue to incur losses for the foreseeable future. If we ever generate revenue or achieve
profitability (of which no assurances can be given), we may not be able to sustain it.

have incurred significant losses since our inception and expect to continue to incur losses for the foreseeable future. We have reported
net losses of approximately $3.9 million and $7.7 million for the years ended December 31, 2024 and 2025, respectively. As a
result of these losses, as of December 31, 2025, we had an accumulated deficit of approximately $231.2 million. To date,
we have financed our operations primarily through debt and equity financings. We expect to continue to incur significant research and
development, regulatory, sales and marketing and other expenses as we expand our marketing efforts to increase adoption of our product
candidates, expand existing relationships with our customers, obtain regulatory clearances or approvals for our planned or future product
candidates, conduct clinical trials on our existing and planned or future product candidates and develop new product candidates or add
new features to our existing product candidates. In addition, we expect our general and administrative expenses to increase following
this offering due to the additional costs associated with being a public company. The net losses that we incur may fluctuate significantly
from period to period. We will need to generate significant revenue in order to achieve and sustain profitability. Even if we ever generate
revenue or achieve profitability (of which no assurances can be given), we cannot be sure that such revenues will continue or that we
will remain profitable for any substantial period of time.

will require substantial additional capital to finance our planned operations, which may not be available to us on acceptable terms or
at all. Our failure to obtain additional financing when needed on acceptable terms, or at all, could force us to delay, limit, reduce
or eliminate our product development programs, commercialization efforts or other operations.

Since
inception, we have incurred significant net losses and expect to continue to incur net losses for the foreseeable future. Since our inception,
our operations have been financed primarily by net proceeds from the sale of our equity and debt securities. We have ongoing clinical
trials, and expect to continue to make substantial investments in these trials and in additional clinical trials that are designed to
provide clinical evidence of the safety and efficacy of our product candidates, which would ultimately be determined by the FDA.
We intend to continue to make significant investments in our sales and marketing organization by increasing the number of U.S. sales
representatives and expanding our international marketing programs to help facilitate further adoption among existing hospital accounts
as well as broaden awareness of our product candidates to new hospitals. We also expect to continue to make investments in research and
development, regulatory affairs and clinical studies to develop future generations of our product candidates, support regulatory submissions
and demonstrate the clinical efficacy of our product candidates. Moreover, we expect to incur additional expenses associated with operating
as a public company, including legal, accounting, insurance, exchange listing and SEC compliance, investor relations and other expenses.
Because of these and other factors, we expect to continue to incur substantial net losses and negative cash flows from operations for
the foreseeable future. Our future capital requirements will depend on many factors, including:

●	the
cost, timing and results of our clinical trials and regulatory reviews;

●	the
cost and timing of establishing sales, marketing and distribution capabilities;

●	the
terms and timing of any other collaborative, licensing and other arrangements that we may establish;

●	the
timing, receipt and amount of sales from our current and potential product candidates;

●	the
degree of success we experience in commercializing our product candidates;

●	the
emergence of competing or complementary technologies;

●	the
cost of preparing, filing, prosecuting, maintaining, defending and enforcing any patent claims and other intellectual property rights;
and

●	the
extent to which we acquire or invest in businesses, product candidates or technologies, although we currently have no commitments
or agreements relating to any of these types of transactions.

will require additional financing to fund working capital and pay our obligations. We may seek to raise any necessary additional capital
through a combination of public or private equity offerings and/or debt financings. There can be no assurance that we will be successful
in acquiring additional funding at levels sufficient to fund our operations or on terms favorable to us. If adequate funds are not available
on acceptable terms when needed, we may be required to significantly reduce operating expenses, which may have a material adverse effect
on our business and/or results of operations and financial condition. If we do raise additional capital through public or private equity
or convertible debt offerings, the ownership interest of our existing stockholders will be diluted, and the terms of these securities
may include liquidation or other preferences that adversely affect our stockholders’ rights. If we raise additional capital through
debt financing, we may be subject to covenants limiting or restricting our ability to take specific actions, such as incurring additional
debt, making capital expenditures or declaring dividends. If we raise additional funds through strategic collaborations or marketing,
distribution, licensing and royalty arrangements with third parties, we may have to relinquish valuable rights to our intellectual property
or technologies, future revenue streams, research programs or product candidates or to grant licenses on terms that may not be favorable
to us or issue equity or convertible debt securities, which may result in dilution to our stockholders. Additional capital may not be
available on reasonable terms, or at all.