BioVie Inc. (BIVI) stock prices plummeted by 35.25% some time after market trading commenced on August 9th, 2021, bringing the price per share down to USD$8.32 early on in the trading day.
Underwritten Public Offering
August 8th 2021 saw the clinical-stage company announce the pricing of its underwritten public offering of 2.5 million shares of its Class A common stock. Each share is priced at USD$8.00 per share, to be offered to the public. Gross proceeds are anticipated to generate a total of USD$20 million, before the deduction of costs associated with the public offering. BIVI stock’s offering comes equipped with a 45-day option for underwriters to purchase up to an additional 375,000 shares of common stock in the event of over-allotments. The capital generated is expected to be allocated towards general corporate purposes.
NM101 Study Milestone
BIVI stock announced on August 5th 2021 that it had enrolled the first patient into the NM101 Phase 3 clinical study, which is designed to test NE3107 in the treatment of Alzheimer’s Disease (AD). The NM101 study is a potentially pivotal Phase 3, randomized, double-blind, placebo-controlled, US multicenter study of NE3107 across a panel of 316 subjects with mild to moderate AD.
BIVI Stock’s NM101
NM101 will address conventional cognitive, memory, functional, behavioral, and imaging endpoints, as well as assessing measures of glycemic control, brain glucose utilization, and systems dysregulation. The treatment is randomized, double-blind, placebo-controlled, and is being conducted by BIVI stock to test a potentially disease-modifying anti-inflammatory insulin sensitizer compound in patients with AD ranging from mild to moderate levels.
BIVI Stock’s NE3107
Prior animal studies and Phase 1 and 2 human clinical studies by BIVI stock saw NE3107 generate data that supports the reduced neuroinflammation and insulin resistance, both of which are established important players in Alzheimer’s Disease pathology. They are recognized as an important mechanism in AD, with inflammation driving the activation of the Extracellular Signal-Regulated Kinase (ERK) signaling molecule and Nuclear Factor kappa-B (NFkB). NFkB is the central regulator of proinflammatory cytokines and chemokines that are key in neurodegeneration.
Future Outlook for BIVI Stock
Armed with the recent development of its NM101 clinical study, BIVI stock is poised to capitalize on the accelerated commercialization and eventual proliferation of its proprietary treatment. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
