24/7 Market News Snapshot 22 October, 2024 – BioVie, Inc. Common Stock (NASDAQ:BIVI)

October 22, 2024

DENVER, Colo., 22 October, 2024 (247marketnews.com) – (Nasdaq:BIVI) are discussed in this article.
BioVie, Inc. (Nasdaq:BIVI), a clinical-stage biopharmaceutical firm dedicated to developing innovative therapies for chronic neurological disorders and liver diseases, has taken significant strides in the market recently. Earlier today, BioVie’s stock experienced an impressive rise, opening at $3.00 and surging to $3.655, marking a remarkable increase of approximately 39% from its previous close of $2.630. This trading session saw a substantial volume of 33.95 million shares exchanged, reflecting heightened investor enthusiasm and confidence in the company’s potential.

In tandem with this positive market performance, BioVie has successfully finalized a registered direct offering, issuing 4,443,000 shares of common stock at a price of $1.50 each. Additionally, the company has introduced a private placement of unregistered warrants, granting the option to purchase up to an equivalent number of shares at an exercise price of $1.37. These warrants become exercisable six months post-issuance and will expire five years thereafter.

This strategic financing initiative has generated gross proceeds of approximately $6.66 million, which will be directed toward working capital and general corporate purposes. ThinkEquity served as the sole placement agent for this offering, underscoring the market’s strong confidence in BioVie’s future trajectory.

BioVie is at the forefront of developing solutions for significant health challenges, such as Alzheimer’s disease, Parkinson’s disease, and the neurological effects associated with Long COVID. The company is also advancing its leading drug candidate, BIV201, which is currently designated under FDA Fast Track status for Phase 3 clinical testing to improve outcomes for patients with cirrhosis and ascites. With a robust pipeline and supportive financial resources, BioVie is strategically positioned to drive advancements in therapies for neurological and liver diseases, continuing its commitment to addressing critical unmet medical needs.

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