07 Dec Biovie Update
Major action on BIVI stock, let’s catch up
BIVI 4.60 close of 12/6
Rallied to 8 area highs from 3.90 report on Oct 21. We ended up with great data sets on both Alzheimers and Parkinsons. I was on the phone with Life Sci Advisors last night to discuss the results, I also spoke with a large shareholder of Biovie yesterday as well as a money manager who is buying the stock and believes its $40 next year as a baseline target. I’ve also been in touch with management.
They also issued a letter to shareholders this morning to summarize events, worth a READ HERE
Also, a writer on Seeking Alpha who is EXTREMELY knowledgeable in this area wrote an update on Biovie and their results yesterday. She is steadfastly bullish and has been spot on with her analysis.
If you can read it, here is THE LINK and it was an Editors Pick yesterday
Finally, they increased their ATM offering to 17.5 million dollars max, of which they have already raised about 7 million at 3.90 average per share. Most of the action is retail traders of late, there are only 3-6 million shares of the 31 million in the trading float. This can cause trading groups to come in and out and push the stock around.
With all of that said, my opinion is that NE-3107 is an amazing drug in the mechanism of action it is showing for inflammation control, piercing the blood brain barrier, and NOT suppressing the immune system while showing strong efficacy with very strong safety profile. They are expanding the Alzheimers Phase 3 to 400 patients from 316, we will get a readout maybe halfway through in the late spring. They will likely work with FDA now on a Phase 3 for Parkinsons.
I remain bullish, I will be buying this drop below 4.75. The stock is volatile. They will need to raise funds at some point, but I would not rule out them selling off their Liver Ascites asset to raise cash, and or partnerhips either going forward.
Looks like a normal large correction after a run from 1.30 to 8, 50% pullbacks in growth stocks are normal.