Summary by Moomoo AI
BioVie Inc., a clinical-stage company focusing on drug therapies for chronic debilitating conditions, reported its financial performance for the quarter ended September 30, 2024. The company experienced a net loss of approximately $4.2 million, a decrease from the net loss of $10.7 million in the same period the previous year. This reduction was primarily due to a decrease in research and development expenses, which dropped by approximately $6.9 million as a result of completed clinical trials in the prior fiscal year. Selling, general, and administrative expenses saw a slight increase of approximately $132,000, mainly due to higher legal fee expenses. Other expenses netted to approximately $30,000, compared to other income of $165,000 in the previous year. The company's cash and cash equivalents stood at approximately $20.0 million...Show More