BioVie Inc (BIVI)

[someconcerns]

Forever grateful. Wow. When are you putting the steaks on the grill?

Anyway, in the "offering" section of the S-1, it says:

The Offering


Common stock offered by us 1,262,626 Shares {my note: these are post-reverse-split shares}

Common stock to be outstanding after this offering 5,321,067 shares (or 5,510,461 shares if the underwriters exercise their over-allotment option in full).

Over-allotment option We have granted the underwriters a 45-day option to purchase up to an additional 189,394 shares of our common stock at the initial public offering price to cover over-allotments, if any.

Use of proceeds We intend to use the net proceeds of this offering primarily to fund clinical trials of our lead product candidate BIV201 and for working capital and other general corporate purposes.

So, more shares being sold to fund the clinical trials. It's a necessary evil arising from being a clinical-stage, pre-revenue biomedical company. Gotta raise funds.

On another note, I would have seen your post sooner, if you had replied to my earlier post, rather than starting a new post. SA sends the person (being responded to) an email to let them know there is a response. I just did a regular sweep of the board - which I do not do all the time - and noticed your post.