24/7 Market News Snapshot 21 October, 2024 – BioVie, Inc. Common Stock (NASDAQ:BIVI)

DENVER, Colo., 21 October, 2024 (247marketnews.com) – (NASDAQ:BIVI) are discussed in this article.
BioVie, Inc. (NASDAQ:BIVI), a clinical-stage biotechnology company focused on developing novel therapies for chronic conditions, has recently made headlines with a significant surge in its stock performance. The stock opened today at $4.10, reflecting a notable increase of over 64% from its previous close of $2.35, with a remarkable trading volume of 132.79 million shares. This heightened investor interest suggests potential developments on the horizon for the firm.

In addition to this market excitement, BioVie announced the pricing of a registered direct offering, set to issue 4,443,000 shares of common stock at $1.50 per share, leading to gross proceeds of approximately $6.66 million. Associated with the stock offering, the company will provide unregistered warrants to investors, enabling the purchase of an equivalent number of shares at an exercise price of $1.37 per share. These warrants will become exercisable six months post-issuance, with a five-year expiration period. The anticipated closing of this offering is slated for around October 22, 2024, subject to customary conditions, with ThinkEquity acting as the sole placement agent.

BioVie is dedicated to addressing significant healthcare challenges with its innovative drug candidates targeting neurological and neurodegenerative disorders, including Long COVID, Alzheimer’s disease, and Parkinson’s disease. Additionally, its orphan drug candidate, BIV201, is currently being evaluated for advanced liver disease and has received FDA Fast Track designation to expedite its development.

As BioVie continues to advance its research initiatives, it remains focused on bringing transformative therapies to patients in need, affirming its commitment to innovation in the biotech sphere.

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