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BIVI.US

BioVie (BIVI) Clinical Trial Violations Case

D. Nevada
Court
3:24-cv-00035
Case number
05 Aug 2021
Class period Start
29 Nov 2023
Class period End
  • $BIVI stockholder filed a claim vs. BioVie, accusing them of hiding clinical trial issues.
  • The news about the trial caused $BIVI to fall 60%, losing $114M+ shareholder value.
On Nov 29, 2023, BioVie revealed problems in its Alzheimer's trial, including protocol violations at 15 sites.
  • Patients from these sites were excluded, and the issue was referred to the FDA for investigation.
During a conference call, BioVie revealed the Phase 3 trial lacked significance due to excluding some patients. This caused a more than 60% $BIVI drop.

Based on these events, $BIVI stockholder filed a claim against BioVie and its leaders:
  • They are accused of not sharing important information about BioVie's Phase 3 clinical trial.
  • The claim also suggests that BioVie didn't oversee the trial properly, worsened by COVID-19.
Considering all the representations, investors have reasons to suspect BioVie of not disclosing that the trial data was at risk, many patients had to be excluded, and the trial was expected to fail its main goals.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
29 November 2023
Filing date
19 January 2024
Lead Plaintiff Deadline
19 March 2024
Collecting participants…
Created by Polina Foster, Scout

Biovie Inc

BioVie Inc., a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of chronic debilitating conditions in the United Sta...

    Ticker
    BIVI.US
    ISIN
    US09074F2074
    CIK
    1580149
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    680 West Nye Lane, Carson City, NV, United States, 89703