BioVie (BIVI) Q3 2026 earnings summary

Executive summary

• Focused on developing therapies for neurological, neurodegenerative, and advanced liver diseases, with lead programs in Parkinson's, Alzheimer's, Long COVID, and liver cirrhosis.

• Phase 2b Parkinson's trial completed enrollment; topline results expected mid-2026.

• Long COVID Phase 2 trial ongoing, funded by a $13.1M DOD grant.

• No revenue generated; operations funded by equity raises and grants.

Financial highlights

• Net loss for the quarter ended March 31, 2026: $5.3M, up from $2.8M year-over-year.

• Net loss for the nine months ended March 31, 2026: $16.4M, up from $14.1M year-over-year.

• Operating expenses for the quarter: $5.4M, up from $3.0M year-over-year.

• Cash and cash equivalents as of March 31, 2026: $13.1M.

• Stockholders' equity as of March 31, 2026: $15.6M.

Outlook and guidance

• No revenues expected in the foreseeable future; continued reliance on external financing.

• Future operations depend on successful clinical development and ability to secure additional capital.

• Substantial doubt exists regarding ability to continue as a going concern.