24/7 Market News Snapshot 23 October, 2024 – BioVie, Inc. Common Stock (NASDAQ:BIVI)

October 23, 2024

DENVER, Colo., 23 October, 2024 (247marketnews.com) – (NASDAQ:BIVI) are discussed in this article.
BioVie Inc. (NASDAQ:BIVI), a clinical-stage company specializing in innovative therapies for chronic illnesses, has witnessed a significant decline in its market price, currently trading at approximately $3.11, down 7.32% from the previous close of $3.36. Despite this downward trend, the stock has attracted considerable trading volume today, reaching 29.71 million shares, indicating heightened investor interest. Market analysts suggest observing key technical levels, with support around $3.00 and resistance anticipated at $3.50, as these may influence short-term price movements.

In tandem with its performance in the market, BioVie has announced the pricing of a registered direct offering of 2,667,000 shares of its common stock, set at $2.25 per share, which is anticipated to yield gross proceeds of approximately $6 million before expenses. The offering includes a concurrent private placement of unregistered warrants for the purchase of an additional 2,667,000 shares, at an exercise price of $2.12 per share, with the warrants becoming exercisable six months post-issuance and expiring five years thereafter. This funding is earmarked for working capital and to support the Company’s ongoing clinical initiatives.

The completion of both the registered direct offering and the private placement is expected on or about October 24, 2024, subject to customary closing conditions, with ThinkEquity acting as the sole placement agent. BioVie focuses on addressing unmet medical needs in neurological disorders, including Long COVID, Alzheimer’s, and Parkinson’s diseases, while also developing therapies for advanced liver disease. The company remains dedicated to its mission of enhancing the quality of life for patients suffering from chronic conditions through innovative therapeutic solutions.

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