BioVie: Taken in chokehold by its majority shareholder (incl. Excel workbook)

As the majority shareholder has taken this company in chokehold, upside for investors is severely limited. This might make the upcoming phase 3 results a dud even if data come in strong.

BioVie BIVI 0.00%↑ is a clinical stage pre-revenue biotech company developing drugs against Alzheimer’s and Parkinson’s. As important phase 3 data are due by the end of this month, there is an opportunity to benefit from increased volatility priced into its option chain. I have attached my Excel workbook with the company’s key financials and the details of my trade.

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The Company

BioVie’s lead candidate, called NE3107, acts as an inhibitor for insulin resistance. Insulin plays a crucial role in brain function by regulating sugar uptake into brain cells. BioVie purchased NE3107 and other drug candidates from NeurMedix, a privately held biotech company, on April 27, 2021.