Red Flags Detected

• ⚠ Best Efforts (new) — The offering has no minimum and the placement agent is not obligated to buy shares, so the company may raise far less than planned.
• ⚠ No Minimum (new) — Without a minimum, investors could buy shares even if the company raises too little to fund its plans, and no refunds are given.
• ⚠ Dilution (new) — New investors pay $2.83 per share but the pro forma net tangible book value per share after the offering is $0.51 lower, meaning immediate loss of value.
• ⚠ Going Concern (new) — The auditor's report contains a going-concern warning, indicating substantial doubt about BioVie's ability to continue operating.
• ⚠ Securities Class Action (new) — The company is facing a securities class action lawsuit alleging material misrepresentations related to its Phase 3 trial.
• ⚠ Significant Deviations From the Protocol and Cgcp Violations (new) — Clinical trial data integrity issues led to exclusion of patients and an underpowered trial.
• ⚠ Acuitas (new) — A single stockholder, Acuitas, holds 20.8% of the company, giving it substantial influence over corporate decisions and potentially conflicting with other investors.