BioVie Inc. Reports $6.1 Million Net Loss in Q2 FY 2026, Advances Clinical Programs

BioVie Inc. reported its financial results for the second quarter of fiscal year 2026, revealing a net loss of approximately $6.1 million for the three months ended December 31, 2025, a decrease from a net loss of $7.1 million during the same period in 2024. The company’s total operating expenses for the quarter were approximately $6.3 million, down from $7.3 million year-over-year. This reduction was primarily driven by a decrease in research and development (R&D) expenses, which fell to approximately $4.3 million from $4.7 million, and a decline in general and administrative expenses, which decreased to about $1.9 million from $2.5 million.

For the six months ended December 31, 2025, BioVie reported a net loss of approximately $11.2 million, comparable to the net loss of $11.3 million for the same period in 2024. Total operating expenses for the first half of the fiscal year were approximately $11.5 million, slightly higher than the $11.4 million reported in the previous year. The increase in R&D expenses was attributed to the ongoing development of the Long COVID program and the Sunrise PD Phase 2 studies, while general and administrative expenses saw a decrease due to lower stock-based compensation and consultancy fees.

In terms of strategic developments, BioVie has been actively advancing its clinical programs, particularly its drug candidate bezisterim (NE3107), which is being evaluated for the treatment of neurodegenerative diseases such as Alzheimer's and Parkinson's. The company completed enrollment for its Phase 2b study of bezisterim in December 2025, with topline results expected in the first half of 2026. Additionally, BioVie received a $13.1 million grant from the U.S. Department of Defense to support its Long COVID program, which is currently in the trial phase.

As of December 31, 2025, BioVie reported total assets of approximately $22.5 million, with cash and cash equivalents amounting to $20.5 million. The company’s working capital stood at approximately $18.8 million, and stockholders’ equity was reported at $19.3 million. Despite these figures, BioVie remains in the pre-revenue stage, with no revenues expected in the foreseeable future. The company’s future operations are contingent upon the success of its ongoing clinical trials and its ability to secure additional financing, raising concerns about its ability to continue as a going concern.

Looking ahead, BioVie is focused on securing funding through equity sales or other strategic transactions to support its clinical development efforts. The company has indicated that while it continues to pursue its strategic plans, there is no assurance of obtaining sufficient financing on acceptable terms, which could impact its operational viability.