What’s Going on with BIVI?
The clinical-stage firm BioVie Inc. (BIVI) announced its acquisition of biopharmaceutical assets from the private pharmaceutical company NeurMedix, which develops “life-changing medicines to treat neurodegenerative and oncological diseases.”
The asset purchase agreement will expand BioVie’s reach into therapeutic drugs designed to tackle debilitating medical conditions like Alzheimer’s and Parkinson’s Disease. The promising drug candidate NE3107 (part of the asset deal) — a key phase 3 Alzheimer’s medication being developed by NeurMedix — is of particular interest to BioVie. Pre-market trading on Tuesday saw BioVie stock down 14.88%, or $3.20, to $18.30 a share.
What Does This Mean for BioVie?
“We believe this is a transformative transaction for BioVie. With it, BioVie has acquired an attractive portfolio of agents with broad therapeutic potential in Alzheimer’s Disease, Parkinson’s Disease, several oncology indications and potentially many other areas…” BioVie Chairman Terren Peizer said of the drug pipeline-expanding deal.
The asset purchase agreement will see BioVie offering NeurMedix 8,361,308 freshly minted BioVie shares, along with $3 million cash upon closing — plus a further $7.3 million and additional shares, coinciding with the continued funding and clinical research of NE3107.
BIVI has a Short-Term Technical Rank of 92. Find out what this means to you and get the rest of the rankings on BIVI!
BioVie Inc is active in the healthcare domain in the United States. The company is a development stage enterprise engaged in the discovery, development, and commercialization of a therapy targeting ascites due to liver cirrhosis. Its therapy BIV201 is based on a drug that is approved in about 40 countries to treat related complications of liver cirrhosis. BioVie is developing BIV201 for alleviating the portal hypertension and correcting splanchnic vasodilation, thereby increasing effective blood volume and reducing the signals to the kidneys to retain excess salt and water.
