BioVie, Inc. (NASDAQ: BIVI)

This lawsuit is for anyone who acquired securities in BioVie, Inc. (NASDAQ: BIVI) from August 5, 2021 through November 29, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by touting the progress of its clinical trial of the Company’s its Alzheimer’s treatment, NE3107, when the Company knew or should have known of errors in the trial so significant that the trial could not yield meaningful results.

On November 8, 2023, BioVie disclosed that, for the Phase 3 clinical trial of its Alzheimer’s treatment, NE3107, the Company had “uncovered what appears to be potential scientific misconduct and significant non-compliance with [Good Clinical Practices (“GCPs”)] and regulation at six sites,” which “may call into question the rigor, robustness and validity of the entire data set for [the study] and may require additional clinical studies to confirm the final results[.]” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on November 29, 2023, BioVie disclosed that it had found “significant deviation from protocol and [GCP] violations” at 15 of its 39 testing sites, “virtually all of which were from one geographic area.” The Company stated that, due to the suspected improprieties, all patients from those sites would be excluded, leaving only 81 patients out the original 439. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in BioVie, Inc. (NASDAQ: BIVI) from August 5, 2021 through November 29, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.