BIOVIE INC. (BIVI) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 463.54% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
7.5M
Potential Supply
0
Additional shares possible
Splits
2 Splits 2 Reverse
Past 2 years

Summary

BIVI currently has 7.54M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 463.54% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 2 stock splits (positive for accessibility) and 2 reverse splits (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

10-Q filing | 7.5M shares outstanding

7.5M 0
Aug 15, 2025

10-K filing | 7.5M shares outstanding

7.5M 0
Aug 11, 2025

8-K filing: BioVie Inc. closed an offering of units and pre-funded units on August 11, 2025, resulting in net proceeds of approximately $10.4 million. ($11.24M proceeds)

1.9M 5M
Aug 04, 2025

S-1/A filing: The company is offering 1,986,754 units (

1.9M 5M
Jul 22, 2025

S-1/A filing: BioVie Inc. is offering 1,456,310 units in a firm commitment underwritten offering, with each Unit consisting of one share of Class A Common Stock and one warrant to purchase one share of Common Stock at an assumed public offering price of $10.30 per Unit. They are also offering 1,456,310 pre-funded units, with each Pre-funded Unit consisting of one pre-funded warrant to purchase one share of Common Stock and one Warrant to purchase one share of Common Stock.

1.9M 480K
Jul 11, 2025

S-1/A filing: BioVie Inc. is offering 1,456,310 units in a firm commitment underwritten offering, with each Unit consisting of (i) one share of Class A Common Stock, and (ii) one warrant to purchase one share of Common Stock at an assumed public offering price of $10.30 per Unit. They are also offering 1,456,310 pre-funded units, with each Pre-funded Unit consisting of (i) one pre-funded warrant to purchase one share of our Common Stock and (ii) one Warrant to purchase one share of Common Stock.

1.9M 480K
Jul 07, 2025
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 18,507,218 → 1,850,721

1.9M 0
Jul 03, 2025

S-1 filing: BioVie Inc. is offering 1,456,310 units and 1,456,310 pre-funded units, each consisting of common stock or pre-funded warrants and warrants to purchase common stock.

1.9M 9.9M
May 12, 2025

10-Q filing | 18.5M shares outstanding

19M 0
Feb 11, 2025

10-Q filing | 18.5M shares outstanding

18M 0
Nov 27, 2024

S-1/A filing: Registration of up to 7,711,613 shares of Class A Common Stock issuable upon exercise of warrants.

18M 0
Nov 21, 2024

S-1 filing: This prospectus relates to the offer and resale of up to 7,711,613 shares of Class A common stock issuable upon the exercise of warrants held by selling stockholders.

18M 0
Nov 13, 2024

10-Q filing | 17.8M shares outstanding

18M 0
Oct 29, 2024

8-K filing: BioVie Inc. entered into a placement agent agreement with ThinkEquity LLC for the issuance and sale of up to 1,146,000 shares of Class A common stock at $2.83 per share, with expected gross proceeds of approximately $3,243,180 before deducting fees. ($3.24M proceeds)

8M 0
Oct 29, 2024

8-K filing: The Company closed a registered direct offering of 1,146,000 shares of Class A common stock at a price of $2.83 per share, resulting in gross proceeds of approximately $3,243,180 before deducting fees and expenses. ($3.24M proceeds)

8M 0
Oct 24, 2024

8-K filing: The Company closed a registered direct offering of 2,667,000 shares of Class A common stock at $2.25 per share and a concurrent private placement of warrants to purchase up to 2,667,000 shares of Common Stock at an exercise price of $2.12 per share, resulting in gross proceeds of approximately $6,000,750. ($6.0M proceeds)

8M 0
Oct 24, 2024

8-K filing: BioVie Inc. entered into a placement agent agreement to issue up to 2,667,000 shares of Class A common stock at $2.25 per share and unregistered warrants to purchase 2,667,000 shares of Common Stock at an exercise price of $2.12 per share, along with a warrant to the Placement Agent to purchase 133,350 shares of Common Stock at $2.8125 per share. ($6.0M proceeds)

8M 0
Oct 22, 2024

8-K filing: BioVie Inc. entered into a placement agent agreement for the issuance and sale of up to 4,443,000 shares of Class A common stock at $1.50 per share and agreed to issue unregistered warrants to purchase 4,443,000 shares of common stock at an exercise price of $1.37 per share in a concurrent private placement. The Company also issued a warrant to the Placement Agent, exercisable to purchase 222,150 shares of Common Stock at an exercise price of $1.875 per share. ($6.66M proceeds)

8M 0
Oct 22, 2024

8-K filing: The company closed a registered direct offering of 4,443,000 shares of Class A common stock at $1.50 per share and a concurrent private placement of warrants to purchase up to 4,443,000 shares of common stock at an exercise price of $1.37 per share, resulting in gross proceeds of approximately $6,664,500. ($6.66M proceeds)

8M 0
Sep 30, 2024

10-K filing | 8.0M shares outstanding

8M 0
Sep 25, 2024

8-K filing: The Company closed a public offering of 1,360,800 shares of Class A common stock, pre-funded warrants to purchase 600,000 shares of Common Stock, and warrants to purchase up to 1,960,800 shares of Common Stock at a combined price of $1.53, generating gross proceeds of approximately $3,000,000 before deducting fees and expenses. ($3.0M proceeds)

6.1M 0
Sep 24, 2024

8-K filing: BioVie Inc. entered into a placement agent agreement with ThinkEquity LLC for the issuance and sale of up to 1,960,800 shares of class A common stock and/or pre-funded warrants at $1.53 per share and $1.5299 per pre-funded warrant, respectively, along with common stock purchase warrants. ($3.0M proceeds)

6.1M 0
Aug 06, 2024
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 61,018,606 → 6,101,860

6.1M 0
May 14, 2024

10-Q filing | 61.0M shares outstanding

61M 0
Mar 06, 2024

8-K filing: The Company closed a public offering of 15,000,000 shares of Class A common stock, pre-funded warrants to purchase 6,000,000 shares of Common Stock, and warrants to purchase up to 10,500,000 shares of Common Stock at a combined public offering price of $1.00 per share, with gross proceeds of approximately $21 million. ($21.0M proceeds)

38M 0
Mar 04, 2024

8-K filing: BioVie Inc. entered into a placement agent agreement with ThinkEquity LLC for an offering of up to 21,000,000 shares of class A common stock and/or pre-funded warrants, along with common stock purchase warrants, with expected gross proceeds of approximately $21 million before deducting fees and expenses; the offering is expected to close on March 6, 2024. ($21.0M proceeds)

38M 0
Feb 13, 2024

10-Q filing | 38.2M shares outstanding

38M 0
Jan 19, 2024

8-K filing: BioVie Inc. issued 8,136,058 shares of Class A common stock under the Sales Agreement for total net proceeds of $59.4 million after commissions and expenses of approximately $1.8 million as of January 19, 2024. ($59.4M proceeds)

37M 0
Nov 08, 2023

10-Q filing | 36.7M shares outstanding

37M 0
Aug 18, 2023

S-3 filing: This is an S-3 filing for a shelf registration to offer Class A common stock, preferred stock, warrants, debt securities, rights to purchase common stock or other securities, and/or units up to a total dollar amount of $300,000,000, and also covers the resale of up to 311,002 shares of Class A common stock issuable upon the exercise of Lender Warrants by selling stockholders.

37M 0
Aug 16, 2023

10-K filing | 36.8M shares outstanding

37M 0
May 12, 2023

10-Q filing | 35.3M shares outstanding

35M 0
Apr 07, 2023

8-K filing: BioVie Inc. reports the issuance of 7,391,228 shares under the Controlled Equity OfferingSM Sales Agreement for net proceeds of $48.8 million as of April 3, 2023, and the termination of B. Riley Securities, Inc.'s role as a sales agent. ($48.8M proceeds)

36M 0
Mar 31, 2023

S-3 filing: This is an S-3 filing for BioVie Inc. covering expenses, indemnification, recent unregistered sales of securities (including common stock and warrants to Acuitas), and exhibits including the underwriting agreement.

36M 0
Feb 10, 2023

10-Q filing | 35.0M shares outstanding

35M 0
Dec 23, 2022

8-K filing: BioVie Inc. issued 3,709,509 shares of Class A common stock under the Controlled Equity OfferingSM Sales Agreement for net proceeds of $29.0 million after commissions and expenses of approximately $898,000. ($29.0M proceeds)

30M 0
Dec 12, 2022

RW filing: BioVie Inc. is withdrawing its Registration Statement on Form S-1 (File No. 333-268313) filed on November 10, 2022, and will not pursue the public offering at this time.

30M 0
Dec 06, 2022

8-K filing: BioVie Inc. increased the aggregate amount of shares of its Class A common stock that may be sold pursuant to the Controlled Equity OfferingSM Sales Agreement from $8.1 million to $17.5 million. ($7.4M proceeds)

30M 0
Nov 10, 2022

S-1 filing: BioVie Inc. is offering shares of Class A common stock.

30M 0
Nov 04, 2022

10-Q filing | 30.5M shares outstanding

31M 0
Sep 27, 2022

10-K filing | 30.2M shares outstanding

30M 0
Jul 15, 2022

8-K filing: BioVie Inc. entered into a securities purchase agreement with Acuitas Group Holdings, LLC to issue and sell 3,636,364 shares of Class A common stock at $1.65 per share and a warrant to purchase 7,272,728 shares at an exercise price of $1.82, for gross proceeds of approximately $6 million. ($6.0M proceeds)

25M 0
May 11, 2022

10-Q filing | 25.0M shares outstanding

25M 0
Feb 08, 2022

10-Q filing | 25.0M shares outstanding

25M 0
Nov 10, 2021

10-Q filing | 23.7M shares outstanding

24M 0
Aug 30, 2021

10-K filing | 24.8M shares outstanding

25M 0
May 10, 2021

10-Q filing | 13.9M shares outstanding

14M 0
May 10, 2021

8-K filing: BioVie Inc. may issue up to 18.0 million shares of its common stock to NeurMedix (or its successor) upon achievement of certain milestones, as per Amendment No. 1 to the Asset Purchase Agreement.

14M 0
Apr 27, 2021

8-K filing: BioVie Inc. acquired certain assets from NeurMedix, Inc. in exchange for 8,361,308 shares of BioVie's common stock and a cash payment estimated at $3.0 million, with potential for future contingent consideration.

14M 0
Jan 29, 2021

10-Q filing | 13.9M shares outstanding

14M 0
Jan 22, 2021

S-3 filing: BioVie Inc. is offering shares of Class A common stock, preferred stock, debt securities, and rights to purchase common stock or other securities for a maximum aggregate offering price of $100,000,000.

5.2M 1.5M
Sep 08, 2020

S-1/A filing: The company is offering shares of common stock to fund clinical trials of their lead product candidate BIV201 and for working capital and other general corporate purposes.

5.2M 1.5M
Aug 21, 2020

S-1/A filing: S-1/A filing for an offering of common stock to fund clinical trials of BIV201 and for working capital and other general corporate purposes.

5.2M 1.5M
Jul 15, 2020

S-1/A filing: This S-1/A filing relates to a company pursuing the discovery, development, and commercialization of innovative drug therapies, primarily focused on BIV201 for the treatment of ascites due to chronic liver cirrhosis, and includes details about a proposed offering of common stock.

5.2M 1.5M
Mar 11, 2020

S-1/A filing: The company is offering up to 1,538,462 units, each consisting of one share of common stock and one-half warrant, each whole warrant exercisable for one share of common stock. The company intends to use the net proceeds of this offering primarily to fund the Lead-in stage of our planned Phase 2b/3 clinical trial of our lead product candidate BIV201, repay bridge financing extended by our controlling stockholder and for working capital and other general corporate purposes.

5.2M 1.5M
Feb 13, 2020

10-Q filing | 5.2M shares outstanding

5.2M 0
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