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Microcap cirrhosis biotech BioVie sets terms for $15 million IPO

July 9, 2019
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BioVie, an early stage biotech developing therapies for cirrhosis, announced terms for its IPO on Tuesday.

The Los Angeles, CA-based company plans to offer 1.3 million shares and raise $15 million based on an offer price of $11.88, the as-converted last close of its shares listed on the OTC (BIVI). At this price, BioVie would command a fully diluted market value of $64 million.

BioVie was founded in 2013 and plans to list on the Nasdaq under the symbol BIVI. ThinkEquity is the sole bookrunner on the deal.