Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
NEWS!!! Phase 2b/3 Commences!!!
"A summary of this study is available on www.clinicaltrials.gov, trial identifier NCT04112199."
https://www.clinicaltrials.gov/ct2/show/NCT04112199?term=NCT04112199&rank=1
News Link:
https://www.otcmarkets.com/stock/BIVI/news/BioVie-Submits-Protocol-for-Phase-2b3-Refractory-Ascites-Study-to-FDA?id=243819
I meant to say "keeping posting" rather than just "keeping."
Thanks guys for keeping while I had an extended trip. I also requested IHub change our symbol back to BIVI, so we can get price/volume info on this page.
The reason for S-1/A is they increased the offering from 1,714,386 units to 2,000,000 units. The share price is just based on previous days' closing price for a 1:125 consolidation ratio and not indicative of the actual offering price during IPO.
Updated S1/A today!
Price per share went from $8.75 to $7.50/sh.
https://www.sec.gov/cgi-bin/browse-edgar?company=Biovie&owner=exclude&action=getcompany
Nice find! Seems things are getting in place for the IPO. Hopefully this month?
8K Out!!! Confirmation of loan.
Most likely a small note was sold off on 10/7...hopefully not a continuation of selling here.
On October 9, 2019, BioVie Inc., a Nevada corporation (the “Company”), entered into an amendment (the “Amendment”) to a Securities Purchase Agreement (the “Purchase Agreement”) dated as of September 24, 2019 with Acuitas Group Holdings, LLC (“Acuitas”) pursuant to which (i) Acuitas purchased a 10% OID Convertible Delayed Draw Debenture (the “Debenture”) due September 24, 2020 in aggregate commitment amount of up to $2.0 million, and (ii) the Company issued 140,625,000 shares of the Company’s Class A Common Stock (the “Common Stock”) and warrants (the “Commitment Warrants”) to purchase an equal number of shares, each subject to the terms and conditions set forth in the Purchase Agreement.
ALSO-
Per tailwinds from a 10/7 email:
"Hi Ed,
Basically Terren bridged the company some money until they get their IPO done. Hopefully that’s soon. I return to the US tomorrow evening and will be back in the office on Wednesday. Will provide an update to readers when I get some information.
Regards,
Daniel Carlson
Managing Partner
daniel@tailwindsresearch.com
+1 415 509 4590
https://www.sec.gov/Archives/edgar/data/1580149/000152013819000379/bivi-20191009_8k.htm
I guess they're not going to fill me down there :(. But still waiting :0
L2 - more MMs just came in as well...starting to get notice.
Money is rolling in now...bid shifted. 1.2mil shares traded thus far....
Is that you sitting at .01c with 603k shares??
I'm waiting for more @ 01 just in case they bring it there ;)... Come on! Give it to me!@##$$%%^&
I thought I saw a small note issued recently for 1mil shares...trying to find it in the most recent filings. I think this is the reason it is selling off right now. Still have to confirm though...added another 50k shares this morning at .04c.
Unusual activity...got volume? interesting!
Thanks guys for keeping the information up to date. Been traveling out of the country.
As info: Cirrhosis biotech BioVie revives $15 million Nasdaq IPO plans in latest filing
"BioVie, an early stage biotech developing therapies for cirrhosis, filed an amended S-1 on Wednesday with the SEC to raise up to $15 million, based on its registered offering of 1.7 million units at $8.75, the as-converted last close of its stock on the OTCQB (BIVI). At that price, it would command a post-offering market cap of $94 million. The company added warrants in the latest filing; the units consist of one share and one-half warrant, with full warrants exercisable at 125% of the offer price. Because the deal was re-launched as a unit offering, Renaissance Capital is no longer including BioVie in our IPO stats."
BioVie had previously planned to raise $15 million in August, when its shares traded at $11.44 ($77 million market cap), but postponed the offering."
The Los Angeles, CA-based company was founded in 2013 and plans to list on the Nasdaq under the symbol BIVI. ThinkEquity is the sole bookrunner on the deal.
https://www.renaissancecapital.com/IPO-Center/News/65259/Cirrhosis-biotech-BioVie-revives-IPO-plans-in-latest-filing
Awesome! This seems explain Terren's action lately with respect to acquiring huge amount of shares through exercised of warrants. The mere fact that they submitted the Phase 2b/3 protocols in accordance with the FDA guidance, the manufacture of the clinical drug formulation (novel-patent pending IP) batch for this trial, in my opinion have increased BioVie's valuation.
Also....
"On June 18, 2019, we met with representatives of the U.S. Food & Drug Administration ("FDA") for a Type C Guidance Meeting to plan our next clinical study following the recently completed Phase 2a clinical trial. We discussed our clinical development efforts with the FDA and proposed safety and efficacy endpoints for our next clinical trial. In July 2019, the FDA provided its meeting minutes for this meeting that documented general agreement with the Company's proposed randomized clinical study design. The FDA also provided its suggestions and guidance regarding primary and secondary endpoints and other key aspects of our clinical trial design including appropriate quality of life measures. On October 1, 2019, the Company submitted a Phase 2b/3 randomized, controlled clinical trial protocol to the FDA incorporating these suggestions. If this trial demonstrates significant improvement on various measures of patient health status, we believe it could potentially form the basis to submit a new drug application (NDA) for the eventual marketing of BIV201 in the US. While the FDA has not provided final guidance nor do we have certainty as to what that guidance would entail, our goal remains to commence the planned Phase 2b/3 trial in the next several months in a manner consistent with what was reviewed with the FDA. We may still need to address certain risks associated with yet to be validated quality of life measures."
"In September 2019, the Company manufactured the first batch of a novel patent-pending liquid formulation of terlipressin for use in the Phase 2b/3 trial subject to FDA clearance. This new product format is intended to improve convenience for outpatient administration and avoid potential formulation errors when pharmacists reconstitute the powder version."
New Filing for Uplisting: S-1/A
"On September 27, 2019, the last reported sale price for our common stock as reported on the OTCQB Marketplace was $8.75 per share, after giving effect to our planned 1:125 reverse stock split. The final public offering price will be determined through negotiation between us and the lead underwriters in the offering and the recent market price used throughout this prospectus may not be indicative of the final offering price. Our common stock has been approved for listing on The NASDAQ Capital Market (“Nasdaq”) under the symbol “BIVI” and we have applied for listing of the warrants on Nasdaq under the symbol “BIVIW.”
https://www.sec.gov/Archives/edgar/data/1580149/000152013819000360/bivi-20191001_s1a4.htm
Essentially Terren (or Acuitas) just bought more shares of the company and has reduced the debt! Nice!
Also, reverse split still pending.
SC 13D/A 1 peiz20190920_sc13da.htm SCHEDULE 13D/A:
(b) The Reporting Persons beneficially own an aggregate of 547,241,666 shares of Common Stock in which they have the shared power to vote or direct to vote, and the shared power to dispose of or direct the disposition of representing in the aggregate approximately 84.5% of the total issued and outstanding shares of Common Stock of the Company. Such aggregate number of shares includes 390,991,666 shares of Common Stock held prior to entering into the 2019 Purchase Agreement, (ii) 140,625,000 Commitment Shares, and (iii) 15,625,000 shares currently issuable upon conversion of the Debenture. Excluded from such aggregate number of shares are (i) 140,625,000 shares issuable upon the exercise of the Commitment Warrants, which Commitment Warrants are only exercisable upon the earlier of the effectiveness of the Company’s pending reverse stock split and December 1, 2019, (ii) 15,625,000 shares issuable upon the exercise of Bridge Warrants, which Bridge Warrants are only exercisable upon the earlier of the Reverse Stock Split and December 1, 2019, and (iii) 669,979,000 which may be issued to Acuitas in the event the Company exercises the Purchase Option Redemption. Although Mr. Peizer directly owns none of the Company’s securities, he may be deemed a beneficial owner of the securities owned by Acuitas pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended.
https://www.sec.gov/cgi-bin/browse-edgar?company=Biovie&owner=exclude&action=getcompany
Sounds good.
NEW SEC FILINGS!
From 10-K:
Pursuant to a letter agreement dated June 24, 2019, Acuitas agreed to modify its existing rights under the Purchase Agreement so that:
>>> - Acuitas agreed to immediately exchange its existing Warrants for common stock such that it will have effectively exercised its Warrants in full pursuant to a cashless exercise thereof at an assumed current market price of $0.36 per share and, as a result received an aggregate of 95% of the shares covered thereby, or 190,791,666 shares of common stock;
- Acuitas agreed to (i) waive its rights to a 50% adjustment of the purchase price of the Preferred Stock in the Initial Sale, the exercise price of the Warrants and the price per share in the Subsequent Sale in the event of certain reductions in the useful life of our current intellectual property rights, and (ii) effectively exercise its rights to purchase securities in a Subsequent Sale pursuant to a “cashless purchase” at an assumed current market price of approximately $0.09 per share, conditioned in each case on the listing of our common stock on Nasdaq or the raising of $2.0 million in additional funds in the form of another securities offering, in either case not later than November 30, 2019, which will result Acuitas having irrevocably waived its rights to an adjustment in the purchase price of the Preferred Stock in the Initial Sale and the exercise price of the Warrants and the purchase price of per share in the Subsequent Sale upon the issuance by us of an aggregate of 167,494,750 shares of common stock (the “Subsequent Sale Shares”) to Acuitas, which is expected to occur concurrently with the closing of the Company’s proposed public offering;
- Acuitas shall in exchange for the foregoing agreements and waivers have the option to purchase additional shares of common stock and warrants to purchase one share of common stock for each share of common stock purchased during the period from September 1, 2019 to November 30, 2019 at the then-effective purchase price of the Preferred Stock in the Initial Sale (the “Funding Option”), provided that any shares issued pursuant to any exercise of the Funding Option will reduce share-for-share the amount of shares issued pursuant to the deemed exercise of its rights to purchase securities in a Subsequent Sale mentioned above. Assuming the closing of this offering occurs on or prior to September 1, 2019, such option will terminate upon such closing. In the event such closing occurs subsequent to September 1, 2019 and prior to November 30, 2019, we anticipate that Acuitas may elect to continue to fund our on-going clinical trials and operations by means of exercising such Funding Option, with any shares so purchased being deducted from the amount of Subsequent Sale Shares deliverable at closing as described above.
On September 24, 2019, BioVie Inc., a Nevada corporation (the “Company”), entered into a Securities Purchase Agreement (the “2019 Purchase Agreement”) with Acuitas pursuant to which (i) Acuitas agreed to purchase a 10% OID Convertible Delayed Draw Debenture (the “Debenture”) due September 20, 2020 in aggregate commitment amount of up to $2.0 million, and (ii) the Company issued 140,625,000 shares (the “Commitment Shares”) of the Company’s Class A Common Stock (the “Common Stock”) and warrants (the “Commitment Warrants”) to purchase an equal number of shares, each subject to the terms and conditions set forth in the Purchase Agreement. The Debentures accrue additional principal at the rate of 6% per annum and interest at the rate of 10% per annum, are convertible into shares of Common Stock $0.032 per share or, subsequent to the closing of the Company’s planned public offering of shares of Common Stock (the “Public Offering”) as described in its Registration Statement on Form S-1 (File No. 333-231136), the lower of $0.032 or 80% of the offering price to the public in the Public Offering and are mandatorily redeemable upon such closing at 100% of the accrued principal amount and unpaid interest to the date of redemption. The Commitment Warrants are five year warrants, exercisable upon the earlier of the effectiveness of the Company’s currently pending reverse stock split and December 1, 2019 at the lower of $0.032 or 80% of the offering price to the public in the Public Offering. Upon entering into the Purchase Agreement, the Company drew an initial $500,000 under the Debenture and in accordance with the Purchase Agreement, Acuitas received an additional 15,625,000 warrants (the “Bridge Warrants”) having the same terms as the Commitment Warrants. Any future draws under the Debenture, which may be made from and after October 15, 2019, November 15, 2019 and December 15, 2019 in equal tranches of $500,000 each, will entitle Acuitas to receive additional Bridge Warrants in equal amount upon such funding....
Issuance of Shares in Settlement of Debt
During the fiscal year ended June 30, 2019, we settled $1,475,765 of debt including $1,313,765 owed to related parties, by issuing 975,361 shares of common stock with a fair value of $1,150,135. See Notes 5 and 6 to the accompanying financial statements appearing elsewhere in this report.
TOTAL LIABILITIES
June 30, 2019 = $443,480.00
June 30, 2018 = $2,064,292.00
http://irdirect.net/filings/viewer/index/1580149/000152013819000336/
Exposure, Exposure, Exposure...for BIVI
*Catasys is another company under the Terren umbrella...so what does this say for Biovie's chances of getting non-dilutive financing for the next phase?
Tailwinds’ Take: "this is very big news for several reasons. Goldman is a very high quality lender who can obviously get much larger in size as Catasys grows. Their due diligence prior to making this loan is an endorsement of the business model; there’s also a good chance that due diligence leads to research coverage. Projections by Terren for cash flow positive without needing more financing should really put the shorts on notice that they are in trouble. All in all a great piece of news that demonstrates the company’s firing on all cylinders."
https://tailwindsresearch.com/2019/09/catasys-announces-45-million-debt-financing-commitment-from-goldman-sachs-to-support-accelerating-growth/
I honestly didn't think .05s would hit but its a great time to buy the weakness! The bid sizes are increasing (200k+) in the .05 range recently, so it won't be long until we push up again.
Per Tailwinds...
BioVie (BIVI): September and October portend to be an important months for BioVie. The Company should be filing their protocols with the FDA for the upcoming phase 2b/3 trial. After which, they are likely tapping the markets for $15M simultaneous with a reverse split and an uplisting to Nasdaq. The drug works and should be able to gain approval. The stock is cheap and the CEO, Terren Peizer, is a smart investor who owns a large majority of the Company. I’ll be increasing my position when they complete the financing and maybe even somewhat in advance if the stock stays weak.
https://tailwindsresearch.com/2019/09/fall-investor-preview-along-with-a-belated-august-recap/
Price getting to a tempting level again.
crickets.....chirp....chirp
Yes, a good buying opportunity
Down to .0601c for the low today...weak hands are selling on low volume. Awesome time to get some cheapies...
Item 8.01 Other Events.
On August 12, 2019, BioVie Inc., a Nevada corporation, filed a notice of termination regarding an amendment to its Articles of Incorporation intended to effect a reverse split of its Class A common stock as a result of its Board of Directors having determined not to proceed with the contemporaneous public offering and listing on the Nasdaq Capital Market due to market conditions at this time.
https://www.sec.gov/Archives/edgar/data/1580149/000152013819000288/bivi-20190814_8k.htm
Yes, wise to postpone.
As reference to the last post
https://www.otcmarkets.com/filing/html?id=13595286&guid=McrIUpv6MXbR2yh
Any progress in the clinical trial schedule should be beneficial. There is strength in the markets where there is demand for the drug and it's not directly in the international trade crossfire.
Not allowed to mention the name of the company under IHub TOS, but they put another 9 million shares on the market at $28 today and the share price, rather than dropping from $30 to $28, closed up slightly. This is in TODAYs market. There clearly is demand for their recently approved products and demand for the stock. Of course it is no longer pre-revenue, like BIVI.
Management and Investors did the right move of postponing the Nasdaq listing and fundraising during this unstable market condition, combined with the financials going stale these days. This is also a great time to finalize and submit upcoming clinicals protocols (phase 2b or 3) with the FDA, that will possibly get BIVI a higher price from the investors?
Yes but sooner the better before negative speculation sets in. Its a good time to add some "on sale" shares as well - I got some .08s yesterday. I will continue to add if it drops more...
Thank you! So...it can happen anytime when they want to.
FYI: Per Dan Carlson (Tailwinds)
I emailed Dan this morning...response is below.
Q: I see BIVI has been delayed from uplisting. Any updates on why?
A: Market conditions earlier this week and then their financials went stale yesterday. They will come to market after filing the protocols for the Phase 2b/3 trial, which should be viewed positively by investors.
Trend, BS manipulation by market makers is pretty much the rule. Only a bit less so for a microcap on NASDAQ.
Now only 3 MM on the bid? Funny! BS manipulation going on! They wanna shake the tree before BIVI skyrockets?
Trend, So, it happens when it happens.
I'm seeing that too.
Trend, Fidelity shows me 130,000 shares traded so far today and a last price of 8 cents.
Mine too! Question is why BIVI is not trading in the Nasdaq today?
Is there some sort of delay going on?
Followers
|
43
|
Posters
|
|
Posts (Today)
|
1
|
Posts (Total)
|
879
|
Created
|
01/30/14
|
Type
|
Free
|
Moderators |
With no medications approved by the FDA specifically to treat ascites, the prognosis for these patients is very poor. Certain drugs which have been approved for other medical conditions (such as diuretics) combined with a salt restricted diet usually provide symptomatic relief in the initial stages of the disease. But as the ascites worsens their efficacy often diminishes. BioVie is working on a solution to address this critical unmet medical need.
Julie G. Anderson, Director. Anderson most recently served Catheter Connections, Inc. as its Vice President of Marketing until the company was sold last month. Previously she was Senior Director of Marketing for Durata Therapeutics, Inc., playing a key role in helping build the infrastructure and commercialization plan necessary to launch the novel antibiotic Dalvance. The team's efforts led to an acquisition of the company in 2014 by Actavis (now Allergan) in a deal valued at about $675 million. Prior to Durata, Julie worked for Sanofi-Synthelabo, Inc., Bayer Pharmaceuticals, and G.D. Searle in various marketing leadership positions. She originally trained as a nurse and earned a Masters of Management at the J.L. Kellogg Graduate School of Management at Northwestern University. As a critical care nurse, Julie treated patients at risk of death due to complications caused by chronic liver cirrhosis, and deeply understands the unmet medical need targeted by BioVie.
Hari Kumar, Director. Board of Directors as an independent director. In addition, Dr. Kumar purchased common shares of BioVie stock through a private placement. After earning a PhD in immunology in 1984, Dr. Kumar embarked upon a successful career in the biopharmaceutical industry. He held positions of increasing responsibility at Roche Pharma culminating in serving as Global Business Development Director, and in 2007 assumed the role of Chief Business Officer for Amira Pharmaceuticals. He led the sale of Amira to Bristol-Myers Squibb in 2011 for $475 million. He then served as Chief Executive Officer (CEO) for Panmira Pharmaceuticals LLC, which is developing anti-inflammatory compounds, and in 2013 became CEO for Adheron Therapeutics, which Roche Pharma acquired in 2015 for $580 million. Beyond his impressive track record, Dr. Kumar brings deep experience in fibrotic and liver diseases to the Company.
Press Releases: https://finance.yahoo.com/quote/bivi?p=bivi
In the News:
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |