Quarterly ResultMay 11, 2026, 05:02 PM
BIOVIE INC. Q3 Net Loss Widens to $5.27M; Cash Declines to $13.1M
AI Summary
BIOVIE INC. reported a widened net loss of $5.27 million for the three months ended March 31, 2026, compared to $2.79 million in the prior year. The company's cash and cash equivalents decreased to $13.1 million from $17.5 million at June 30, 2025, and management expressed substantial doubt about its ability to continue as a going concern. Research and development expenses significantly increased, driven by ongoing clinical trials for Parkinson's disease and Long COVID, supported by a $13.1 million DOD grant.
Key Highlights
- Net loss for Q3 2026 widened to $5.27 million from $2.79 million in Q3 2025.
- Net loss for the nine months ended March 31, 2026, was $16.43 million, up from $14.05 million year-over-year.
- Cash and cash equivalents decreased to $13.1 million at March 31, 2026, from $17.5 million at June 30, 2025.
- Management expressed substantial doubt about the company's ability to continue as a going concern.
- Research and development expenses for Q3 2026 increased to $3.18 million from $1.34 million in Q3 2025.
- Net cash used in operating activities for the nine months ended March 31, 2026, was $14.90 million.
- The company received $10.46 million in net proceeds from common stock issuance during the nine months ended March 31, 2026.
- A $13.1 million DOD grant supports the Long COVID program, with $9.4 million reimbursed as of May 4, 2026.