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

October 21, 2024

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.

Related news for (BIVI)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.